I’m seeing an alarming trend lately. It’s coming from clients, potential clients, and others I’m connected with both online and offline. People are spending 3 or 4 or more hours a day on social media, in hopes of growing their business through those efforts. But guess what, most of them are making about zero dollars a month in their business.
And I’ve come across no one who’s pulling down five figures a month from their intense social media efforts. Does that mean you can’t make money with social media? Absolutely not. I meet nearly all of my clients directly through social media, or at least through a social media connection.
The problem is this:
Social media is where the relationships are made, but it’s not where the money is made.
And many online business owners are getting the relationship part of their business right ~ because social media is fun and relatively easy ~ but are totally neglecting the money side of their business. Because it’s more like “work.”
There are 3 things you must make a priority over your social media if you want all of this relationship building to have any impact on your bank account.
1. Product Creation
You must have something to sell, right? And the more things you have to sell, the more you will sell. Funny how that works.
Yet too many people can’t find the time to create even one product, and certainly can’t envision the many products that your business is going to need.
You must set aside time for product creation. And after you’ve spent your time doing that, then you can move on to updating your social media networks. Might that mean your social media presence suffers at times? Yes, it will. But remember, it’s irrelevant to your business if you’ve got nothing to sell.
Even if you are a service based business, you need a product. Most people won’t start off ready to work one-on-one with you. But if you can offer them a low-end (i.e. “cheap”) product that delivers good value, that will move them quickly up the road to your higher priced services.
There are two things you need to remember about product creation. First, it doesn’t have to be the biggest and best product ever. Start with something in the $27-$47 range. It’s easier to complete, and you’ll pressure yourself less to make it perfect.
Second, you won’t get it done in a day. That’s what makes it hard to focus on. You can get today’s social media work done today. And it will feel good to check it off the list.
And you can get one chapter, or one video, or even one page of your product done today. So break your product down into doable steps and focus on what you can do today. Sooner than you realize, you’ll have the pleasure of making one big check mark next to “create product.”
2. List Building
The big picture goal of your social media work is to move people from being social media connections, to being on your list. Which means they’ve chosen to give you their name and email address, and agreed to receive email from you. Your list is where the selling happens.
You’ll need to do 3 things to build your list. First, it’s crucial that you have something valuable to give people in return for their name and email address. A free report, video, ebook, audio . . .
Second, you need several different landing pages within your website that have your “opt-in box” on them. Your opt-in box is that place that tells your visitors what your free gift is, and provides a spot for them to enter their name and email address.
Third, you’ll need to make sure you’re creating good content on your website that you can share with your social media audience. This is how you bring people from social media sites, to your website, to your list.
This is not a completely “set it and forget it” effort. You need to make sure your free offer is consistently attracting new people to your list. Tweak it, and completely change your offer once in awhile, to make sure you’re attracting the maximum amount of people.
Most people (yes, me too!) get so excited when they have a growing list, that they breathe a sigh of relief at their accomplishment and decide to relax. But, once you’ve celebrated, it’s time to get back to it.
Having someone on your list is only the beginning. Realize that they are likely on the list of several people. When they receive an email from you, some will not even remember signing up for your list. Which means you need to make an effort to stay at the top of their mind.
While you don’t want to spam them with your sales offers every day, you do want to set up an autoresponder and consistently send them a newsletter that includes at least your most recent blog article.
If you want people to eventually buy from you, you need to consistently provide them good stuff for free so they will grow to know, like and trust you. Then, when you do send out a sales offer, they already see you as someone who provides them valuable information and who cares about them. The result is a much higher probability that they’ll want what you’re selling.
Check in With Your Priorities
Obviously, I’m not telling you to abandon social media. It’s a very powerful tool for growing your business. But, it’s crucial to realize that you don’t have to be (and can’t be) on every social media network all of the time. Pick the ones that serve your business well, and stay consistent on them, but don’t strive to be constant on them!
Take an honest look at your business. How are you doing on the 3 priorities I’ve identified above? Do you need to re-work your schedule to make these activities more of a priority over your social media? In addition to the work you do on social media, do you find yourself wasting time there once the work is done? Please share in the comments below how you get it all done in your business!