Home – New Forums Marketing mastery How are you doing social media?

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  • #1212947
    FXM
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    Huey, I was on a 12 months agreement, not even a single call, could have used the money spent on both my social media and seo on newspaper advertising and get better results.

    #1212948
    Amiee
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    Sorry I am new to all the things online. I think I am paralysed into not taking action, I don’t have the budget to spend like FXM, and can’t afford to make any mistakes. It’s so overwhelming, it’s not only website that I needed as I thought, there are soe, social media and I don’t know what else. There are lots of good discussions in this forum. Thank you.

    #1212949
    m4engineers
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    El Arish Tropical Exotics, post: 254570, member: 6734 wrote:
    often I don’t have to jump in, one of my customers will do it for me.
    Great to have someone to do it for you. It’s OK to be in the first Pareto, the challenge is to transition into the second Pareto, being the top 4 – 5% of your niche.
    El Arish Tropical Exotics, post: 254570, member: 6734 wrote:
    “Selling” is only half the battle. Educating and getting them back is the other.
    Spot on, educating is the ‘new’ selling, it has been like for the last 10 – 20 years, so it’s not that new anymore. Only savvy business owners like you knows its value.
    El Arish Tropical Exotics, post: 254570, member: 6734 wrote:
    Like I said I’m a sporadic, haphazard kind of user but I definitely see enough positives to be using it more.
    If you are sporadic, haphazard, yet seeing enough positives, what would it do for your business if you are strategic?
    El Arish Tropical Exotics, post: 254570, member: 6734 wrote:
    Although I can certainly see it would definitely be easier and more successful for some industries over others.
    Social media, the net and forums like this is nothing more than a tool, it’s really up to you to get the best outcome from it.
    El Arish Tropical Exotics, post: 254570, member: 6734 wrote:
    Believe it or not there are many, many tropical gardens around Melbourne and very few places to buy plants or get advice.
    Believe it or not, you should be ‘dominating’ your niche on social (if you are not already) if there are very few places to buy plants or get advice. Best wishes.
    #1212950
    m4engineers
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    FXM, post: 254572, member: 101969 wrote:
    Huey, I was on a 12 months agreement, not even a single call, could have used the money spent on both my social media and seo on newspaper advertising and get better results.
    SEO at times may be elusive, and most seo providers will say or even promise things like “get you onto page #1 in three to six months” but in three to six months you will get exactly that, some keywords on page #1 but no significant increase in traffic and will not change your business for the better. If you look at companies that are successful online, they spent years building their web presence.

    Let do some calculation to demonstrate my point why businesses invest in SEO.

    Say you were paying $1,000 per month for your SEO, and also assume that you have got 1 miserable call from your SEO effort in that 12 months, your cost of acquisition is $12,000 for one call, but your newspaper ad my be giving your $100 acquisition cost for each of your call. On face value, SEO seemed like a lousy proposition, that is perhaps the reason why you stop, is it? Try to look beyond …

    … and say if you continue for another year, by end of second year; you would have spent $24,000 and your call volume should increase as well, say you got 100 calls in total for the two years, your call acquisition cost would drop from $12,000 in the first year to $240 per call ($24,000 / 100).

    and moving forward to the third year, your SEO total spent would be $36,000, and the total number of calls could be say 400 for the three years, your call acquisition cost is now $90 per call ($36,000 / 400), which is now better than your newspaper call acquisition cost. The idea is to lower your acquisition cost to the lowest possible.

    It’s all well and good in the illustration, but will the above come to fruition? Possibly and possibly not, because your results will be subjected to many factors by big G and the skill level of your SEO provider. And a more important question is “can you sustain paying $1,000 every month for the next so many years?” In a way SEO is selling you “hope”, it will be “hope” until you realise your set objectives sometime in the future.

    This is also why AdWords is so popular, but be warned that AdWords also has its inherent drawback. Many businesses will swear that AdWords will not work and it is nothing but a big money grab by Big G. IMHO, AdWords definitely works, the big question is “can you make AdWords to work for you”?

    Gaining popularity is Pay per Phone call, you will only pay for the calls if the calls are qualified (1) niche and (2) geographic locations.

    Hope it makes sense.

    #1212951
    m4engineers
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    Amiee, post: 254576, member: 101940 wrote:
    Sorry I am new … and I don’t know what else.
    No need to apologise. For a start, identify your objectives, I assume you have worked out your lead acquisition cost. Look out for strategies that is lower and more consistent than what you are doing. Don’t think your business is at a stage suited for SEO, possibly AdWords but has to be self manage to avoid the management fee. Your best bet could be Pay per Phone call strategy, only if it makes sense in terms of $ & cents. Hope it helps.
    #1212952
    m4engineers
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    m4engineers, post: 254482, member: 100990 wrote:
    Wondering if there is any social media strategist to share their insight.
    … hmmm where are all the social media strategists?
    #1212953
    FXM
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    Huey, yes it does make sense but I can’t afford to continue spending hoping to get more leads in the future. I want it now, pay per phone call sounds interesting, how much do you think is the charge for each call?

    #1212954
    m4engineers
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    FXM, post: 254610, member: 101969 wrote:
    how much do you think is the charge for each call?
    Unfortunately you have asked the wrong question. Is $500 per call too expensive? Not if your current leads are costing you $800 a pop!

    If you know your cost per lead and your conversion rate, the question to ask is “how many calls can you send me?” If my calls cost are more than your current cost per lead, it will not make sense for you to deal with me.

    Cost per lead and your conversion rate info is fundamental. Hope it make sense.

    #1212955
    Paul – FS Concierge
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    m4engineers, post: 254639, member: 100990 wrote:
    Unfortunately you have asked the wrong question. Is $500 per call too expensive? Not if your current leads are costing you $800 a pop!

    If you know your cost per lead and your conversion rate, the question to ask is “how many calls can you send me?” If my calls cost are more than your current cost per lead, it will not make sense for you to deal with me.

    Cost per lead and your conversion rate info is fundamental. Hope it make sense.
    Kind of but it is important to determine profit rates both short term and long term (lifetime).

    Eg, if per job, I make $200 profit after costs and I average 30% repeat customers, then my lifetime earnings per customer is 200 x 1.3 = $260.

    If my cost per call is x and for every 3 calls I make one sale, then my cost per new customer is cost per call x 3.

    For example, if I pay $30 per call, then it costs me $90 per new customer and I make an average of $260 so my net profit is $260 – $90 = $170.00 per new customer.

    Op, I have heard of people selling high quality leads for as little as $10 per call – this was for emergency locksmith in Sydney.

    #1212956
    Mischelle
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    Hi Everyone,

    Going from the original post, many people do have great success on social media, some fail dramatically.

    FIRST KEY POINT: Know your market, and that will drive which social media avenue to take – if any. Not all businesses are suited to all marketing methods.

    This story is about a good friend, who my husband helped start out in his workshop kitchen. *Yes that’s right, my husbands kitchen !!!! LOL

    FACEBOOK/SOCIAL MEDIA KEY POINT: DO NOT continuously sell on your posts !!!! 1 in 20 posts is a good ratio. People will leave in droves if you push products on them. Educate, entertain, have fun, and then when you have grown a following and built their trust you do little promotions throughout the week in between many other posts.

    Mark’s success story below:

    My friend Mark, was a soloist making funny stickers for cars, he operated out of my husbands tiny workshop kitchen and has grown into a huge business solely on social media – he has never paid for a FB advert ever.

    He started his Facebook Page and started loading fun little videos of cars with his funny and sometimes offensive stickers and then adding more and more videos and photo of all sorts of cars and motorsport.

    He posted up to 20 times a day and started to get people sharing and following, then as more people shared the followers started to grow exponentially.

    The key to his success has been an amazing amount of hard work and the right content for his market on Facebook, he rarely sells, people simply go to his website/ebay store to buy products they see on his car or in his videos. His page: https://www.facebook.com/streetfx/
    Warning: If you are easily offended, do not read too many posts :):) He posts what his followers want to see.

    His page posts and interact with his followers all day and night…. it’s hard work, but it has paid off. He has 10 million followers on Facebook alone.

    All of this is VERY HARD WORK (I keep repeating this because it is), do not start, if you can’t commit the time to it, do not put a FB page up and expect people to follow you if you are not interacting with them and regularly posting (multiple times a day) with content that they want to see.

    That is the key, good quality content based on your followers desires. In this case it’s cars and motorsport, but it could be home decor products, cooking, gardening, it does not matter, be entertaining, find funny videos, educate them, provide value (even if it’s silly videos) and be the place people want to go to based on their interests.

    My hubby spends most of his nights working on his Facebook page and all the groups that are linked to the page and the forums linked to the websites, some nights he sorts through over 500 posts.

    So as you can see all of this is about knowing what your audience wants to watch and read, posting it and interacting with them.

    If you can’t afford the time, then SEO and ad-words may be the solution for you.

    I had to share this story as it shows it can be done.

    Cheers
    Mischelle :):)😎

    #1212957
    El Arish Tropical Exotics
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    I just want to kick in two things that as a newbie I learned from this forum and applied are:

    Social media as a long haul proposition. Someone may visit your page several times and never buy via your social media links but purchase down the track. Quantifying what a customer is “worth” over time takes time and a high volume of customers. Also don’t despair if you start with low numbers, if you are posting high quality stuff they will come (and like, and comment and buy). Nothing sadder than a FB page with 10,000 “likers” but no reactions to posts.

    Don’t sink all your advertising eggs in one basket owned by someone else. Blog articles on your own website, videos uploaded to YouTube and post a link brings customers to you than do it all on FB, Instagram, etc

    #1212958
    m4engineers
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    Paul – FS Concierge, post: 254647, member: 78928 wrote:
    Eg, if per job, I make $200 profit after costs and I average 30% repeat customers, then my lifetime earnings per customer is 200 x 1.3 = $260.

    I like to keep it simple, and not take lifetime value LTV into consideration at the start, as it would be their bonus when repeats happen.

    Paul – FS Concierge, post: 254647, member: 78928 wrote:
    If my cost per call is x and for every 3 calls I make one sale, then my cost per new customer is cost per call x 3.
    Precisely right, if conversion is 33% (ie every 3 calls I make one sale), and if cost per call is $30 then cost per customer ~ $90 ie ($30/0.33) but I would only consider the average profit ie $200 as you mentioned, then the return on investment ROI = ($200 – $90)/$90 ~ 122% but if I were to take LTV into consideration, the ROI numbers will look better ie ($260 – $90)/$90 ~ 189%, one should be conservative when buying leads.
    Paul – FS Concierge, post: 254647, member: 78928 wrote:
    Op, I have heard of people selling high quality leads for as little as $10 per call – this was for emergency locksmith in Sydney.Locksmiths average job value is low.
    #1212959
    m4engineers
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    El Arish Tropical Exotics, post: 254657, member: 6734 wrote:
    if you are posting high quality stuff they will come
    Not really, you will need lots of interactions and share from your audience, and being there when it matters the most.
    Mischelle, post: 254655, member: 60404 wrote:
    if you can’t commit the time to it, do not put a FB page up and expect people to follow you if you are not interacting with them and regularly posting (multiple times a day) with content that they want to see. :):)😎

    Agree to the first part, like you put it, you will need “an amazing amount of hard work” to interact, and partly agree on the second, ie multiple times a day. Social media is really very time consuming if you do not have a strategy moving forward, and if your posts do not have interactions ie comments and share it defeats the whole purpose of your posts.

    This is the reason I do not do client’s social media work, it needs “an amazing amount of hard work“.

    #1212960
    JacquiPryor
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    Wow – more than 10 million followers? I was happy when I hit 450 followers on FB! haha!

    Time – I know I don’t have the time to dedicate to social media as a true marketing platform. I have business FB accounts, which really I only update to share links to new blog articles at the website. They’re seen by maybe 10 people and liked by 2 (one of those 2, more often than not is my Mum!)

    But… the social media value for me is more about FB groups and the ability for a client or other to ‘tag’ me in a relevant post. If I’m tagged, I’ll be online quick smart to answer questions. I think (hope) I contribute useful and educating comments when someone in one of the business groups asks a trademark related question. I think I do the same here. I try and help without expecting a ‘sale’. That approach has always worked for me in the online world.

    I joined a particular FB group maybe 3-4 months ago.. it’s 55,000 odd members and growing. Mostly it’s full of rubbish despite the group rules. However, without checking stats closely, I’d say I’m averaging 1-2 (maybe more) new clients each week, with higher number of prospects that might become paying clients since joining that group. Mostly this comes from other members tagging/recommending me on relevant posts.

    Point being – I think Social Media has a place in business these days, and for each business type the right strategy will be different. For me, it’s not about the time (I don’t have it so I don’t want to commit and start a proper social media plan when I can’t follow it) but the quality of where/how you post. It can certainly prove beneficial when used ‘right’.

    #1212961
    bb1
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    JacquiPryor, post: 254695, member: 20176 wrote:
    Wow – more than 10 million followers? I was happy when I hit 450 followers on FB! haha!
    .

    [USER=20176]@JacquiPryor[/USER] you can currently get 5000 for $10 (with free postage) on Fleabay.

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