Do you Tweet? Do you Facebook update? Social Media Examiner featured an article last week called Five Ways Social Media can Increase your Revenue from Existing Customers. The eListings program from the NALA automatically creates a Facebook page, so NALA Members are ready to go. There are two strategies involving existing customers. The first is offering customer service through social media, and the second is increasing value to the customer experience. Unless you have the time to manage your social media on a daily basis I might focus more on the value increase over the customer service tool.
Tip #1: Give incentives for making more frequent purchases. Increase revenue by encouraging customers to make purchases more frequently or offer deals and specials exclusive to your social media followers. You could post a secret word on your Facebook page every day, and customers that come into your business and utter that word, receive a pre-determined discount or special. Make sure your staff know in advance and create marketing in your business alerting customers to the social media promotion.
Tip #2: Give customers a reason to spend more at each purchase. Promote package deals for services that bundle offerings together. Use social media to drive awareness of the offerings with a clear call to action.
Tip #3: Combine email-marketing offers. Make sure your email marketing provides social media share buttons. You can also upload your email marketing to your social media.
Tip #4: Educate your customers about other products and services. Make sure customers are aware of other types of services and products your company offers. You can feature a product or service of the week on social media. Make sure you follow he 20% rule below though.
Tip #5: Provide Consistent Value. If you customers find value in the content you provide they are more likely to keep coming back. For this reason remember the 20% rule. Only 20% should be about your company with offers and promotions. The remaining 80% should provide information of interest to your customers. That information should ignite conversation between your social media followers and you.
