15. Then how am I supposed to make money using social media?!!!
16. The Formula (R - Cg) * (F * Cr * Or * Pr) – (h * T) = Profit R = Revenue per sale Cg = Cost of goods sold F = Number of Friends/Followers (SM reach) Cr = Click rate on SM links (% of followers that click) Or = Opt-in rate (% of clicks that opt-in) Pr = Purchase rate (% of optins that buy) h = Hourly rate for your SM efforts T = Amount of time you spend on social media
17. Why Not? (R - Cg) * (# of Purchasers) – (h * T) = Profit (R - Cg) * (F * Cr * Or * Pr) – (h * T) = Profit You need to know what to focus on. First, put lead capture & follow up in place. Then, track your conversion at each step. Test & tweak to increase profit.
18. Example ($100 - $10) * (1,000 * .25 * .4 * .5) – ($50 * 40) = $2,500 Define a time period first (let's say 30 days) You sell $100 widget that costs you $10 You have 1,000 followers. 25% of them click on a link you put out there 40% of those opt in 50% of those purchase Your time is worth $50/hour You spent 40 hours on social media Profit = $2,500
19. The Process This is not the formula, it's the process: SM +Bp + Lc + Fup = $$$ SM = Social Media Bp = Blog Post Lc = Lead Capture Fup = Follow Up
30. The Process This is not the formula, it's the process: SM +Bp + Lc + Fup = $$$ SM = Social Media Bp = Blog Post Lc = Lead Capture Fup = Follow Up
31. Lead Capture If you aren't capturing leads: Your followers are wasting your time You're wasting your time You're wasting your followers time You're adding to the economic crisis ;) All you're doing is sending traffic aimlessly around the internet
CAGR – Compound Annual Growth Rate Social Media spend growing the fastest 1 Billion dollar industry this year 3 Billion dollar industry in 14 years
Creator are those that make the money If you don't create, you lose.
Global population is 6.7 Billion. 1.6 Billion People online. 528 Million on Facebook. Source: google.com/publicdata
The last slide showed overall reach. This slide shows that Facebook rivals Goole on pageviews
Facebook is actually beating Google on pageviews/visitor
Social media crushes the rest when it comes to time on site. Facebook and YouTube are crushing google. Your target audience is spending an average of 30 minutes on Facebook and 20 minutes on YouTube each day. Are you capitalizing on that? Are you getting in front of them?
Why not simplify the formul by lumping all that conversion stuff into # of purchasers? Its a lot easier. But you lose clarity on what to focus on.
Many people are great at interacting in social media and even blogging, but if you don't capture leads and follow up, you're wasting all of your effort. Lead Capture and follow up are the keys to the success of the formula.
Many people are great at interacting in social media and even blogging, but if you don't capture leads and follow up, you're wasting all of your effort. Lead Capture and follow up are the keys to the success of the formula.
Many people are great at interacting in social media and even blogging, but if you don't capture leads and follow up, you're wasting all of your effort. Lead Capture and follow up are the keys to the success of the formula.
"One of the most important aspects of Infusionsoft is the ability to do automated marketing sequences. I just used auto responders before, but now I can do a lot more. It's one thing to have auto responder sequences, it's another thing to be able to take people on and off of lists, to segment them when they take a certain action, to make different triggers cause sequences to start and stop, so that customers and prospects are treated according to their individual interests and preferences,” says Marshall