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Over the past few years, many brands and businesses have used social media to grow their brand presence and bolster their marketing strategies. Now that digital marketing has become so widespread, many businesses that have remained reliant on traditional marketing and advertising have begun to venture into the world of social media.
However, digital marketing is often more difficult than it sounds, and growing your brand on social media can be tough. Developing a following is a slow and arduous process, particularly for brands that have limited resources.
Here are 5 proven tips for social media growth and monetization strategies.
1. Learn from your failures.
“Becoming skillful at digital marketing takes a lot of effort, and it’s inevitable that a new business or brand will experience some failures along the way,” says Thomas Jones, a customer support agent at ViralRace. “Your advertising strategy will fall flat, or your new Instagram post won’t get the amount of engagement you expected. However, one of the things that the most successful brands do is learn from their failures and turn them into growth opportunities.”
I don’t see failure as failure, I see it as a learning curve and failure isn’t something I see negative as others see it as. I see it more as a step to success. As a new brand or business on social media, you can try to analyze why your strategy wasn’t successful. Ask yourself questions like, “Did my content fail to resonate with users?” and “Was I using the correct social media channel?” Learning from your failures is the first step in developing a successful growth and monetization strategy.
2. Organize your marketing strategy with third party apps.
Executing a digital marketing strategy across multiple social media platforms is a lot of work, but you can use third party applications to make the job easier. Hootsuite, for instance, allows you to manage all of your content distribution and schedule your posts on platforms like Facebook, Twitter, and Instagram.
The application also allows you to monitor your social media activity so you can more easily engage with your followers and participate in conversations. Staying organized across your different marketing channels is a key component of any high growth social media strategy.
3. Be consistent with your content to ensure sustainable growth.
Oftentimes, businesses or brands will experience their “15 minutes of fame” when one of their posts goes viral or gets significantly more exposure than they’re used to. Of course, this event in itself is great for a brand looking to grow on social media, but many marketers fail to leverage this spike in exposure to develop long term growth.
Whether you’re trying to get more Instagram likes or grow your Instagram followers, consistency is key. By continuing to post high quality content a few times per day after your increase in exposure, you’ll begin to develop brand recognition with new users, who will eventually follow your page and engage with your content.
Consistency is also an extremely important part of social media monetization strategies. Building brand presence through consistency is the best way to turn followers into customers. Social media users are much more likely to spend money on products or services that are produced by brands they recognize. By posting quality content frequently, you can begin to generate revenue through digital marketing.
4. Partner with influencers who share your target audience.
In 2018, the most successful digital marketers will use influencer partnership as a central component of their marketing strategy. Influencers are users who have developed a significant following on a particular social media channel and have the ability to influence the behavior of their user base. Brands can partner with influencers by paying them to feature their products in their posts or promote the brand’s services to their followers.
Brands should choose the right influencers that represent or relate more to your brand by looking at their audience demo and try to find ones that match your brand’s demo. It’s important to choose an influencer whose content resonates with your target audience to ensure maximum exposure with the users most likely to purchase your products.
A/B testing different influencers to see who gives you the best ROI is an important component for influencer marketing. Simply choosing one influencer and sticking with them is a mistake. Brands should test with multiple influencers to see whose follower base generates the most revenue.
5. Focus on engagement.
Arguably the most important step for any new brand or business to take is actively engaging with users. This means asking questions in posts, participating in conversations with users in the comments, or reaching out directly to individual users.
People who use social media are much more likely to follow a brand that actively engages with them. Engagement is a key step toward sustainable brand growth, and eventually monetization on social media.
Disclosure:
The author has had a working or personal relationship with one or more companies mentioned in this article in the past. Access to mentioned company’s management and information was made through the author’s personal network. All information was vetted prior to posting.
Disclaimer:
This essay is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only.
5 Proven Social Media Growth And Monetization Strategies was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
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