Social Traffic Drives Revenues

Revenue Per TransactionLetís talk about your social media strategy for just a little bit! At ShopTab, we are firm believers that social media is not only an extension of your marketing plan, but an essential element to drive quality traffic that can produce revenue. By placing yourself and your business on social outlets you are opening yourself up to a new audience that you may not reach via paid online and offline marketing options. Most importantly, this audience is opting into hearing from you and your company.

Social media provides you an opportunity that paid search, e-mail and other online methods are lacking, the opportunity to get to know your customer base. When you focus on the correct outlets for your brand you are building a community that ultimately could translate into revenue. Whether you have an existing website, or youíre trying to get your business up and running through social outlets alone, engaging in social is a MUST.

Daytona International Speedway saw early on that they needed to be where their fans where, and that happened to be on social platforms. They engaged in a social media strategy that focused on fan engagement and rewards. Using a Facebook store application also played into their marketing plans as well, allowing their fans access to their products and tickets while giving them the ability to share their passion about their purchases with their friends.

The emerging concept of social commerce is turning into a more acceptable outlet for shopping since people are using their friends and family to aid them in making shopping decisions. So why not allow them to have conversations around your products or services? Or even better, start the discussion about how a product is used or ask for options they would like to see.† Thatís what social does for you. It places your brand at top of mind for existing and potential new customers. According to Internet Retailerís research, they have discovered that ďthe value of each social traffic transaction is higher than that of e-mail and search traffic.Ē This validates that these conversations can turn into quality revenue opportunities.

Now we arenít saying to abandon other aspects of marketing such as paid search, e-mail, etcÖ† We are encouraging you to make social media a part of your marketing plan. An easy extension to add on to your social media plan is opening a Facebook shop, allowing you to easily share your products and services. This type of application creates an opportunity for your conversation starter. †As in all things with your business, you will need to create a strategy for your social media plan and periodically measure your progress; this is the only way to determine if you are benefiting from the effort you are putting in.

Ultimately it is up to you to decide what is best for your business, but donít miss out on this fantastic engagement opportunity to create a deeper relationship with your client base that can result in steady revenue streams.

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