Why Facebook?

If ever a business had a captive audience, Facebook would be where to find it. The data above proves that Facebook is more than a social network; It is a new way of life for around 20% of the world’s population.

Imagine promoting your business in such a way that your brand is the first thing someone sees when they wake up. This feat is not that challenging when you understand Facebook’s sophisticated targeting methods (more on that later). Unfortunately, if you’re among the 51% of business owners who don’t have a Facebook page, you’re missing out on potential customers.

Whatever the case, there are nearly 2 billion monthly active users on Facebook. Many of those users could end up being your customers and your promoters.

So, how does a business go about increasing revenue with Facebook?

1. Get More Likes

Earning more likes is essential to promoting the content on your page. This is especially important if you have a strict or non-existent advertising budget.

The easiest way to start is by asking your employees to like your page. Encourage them to have their circle of friends do the same. Then, ask your family members and friends to like the page, and so on. Once you’ve earned all of your new followers, start getting to know them. Learn where they are from, their age, gender, likes, dislikes. Figure out what makes them tick. Facebook takes the work out of this research and provides all of this info on your page’s “Insights.”

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To find information on personality and behavior, start looking at the profiles of some of the people who liked your page. What kinds of pages do they engage? What do they post about? Based on what you discover, you can then tailor your messages for maximum sharing. This will earn you more followers, and ideally, more customers as well.

2. Make Content Shareable

Making your content shareable is largely about knowing your audience. This is where the research from the step above comes into play. If the majority of a restaurant’s audience consists of males over 25, then the following post may not be the best strategy: “Ladies, be sure to share our ladies night special with friends.”

A better way to frame this for maximum shares is by saying, “Guys, be sure to share our ladies night promotion with that special someone in your life. Women get a free cocktail with the purchase of any app during happy hour on Fridays! And, we don’t want the guys to feel left out, so gents who share this will receive a free drink as well!”

Promotions aside, let’s consider two other posts.

One says, “It’s raining cats and dogs outside.” The other shows a photo collage. The top photo shows rain pouring down into the bottom photo, which is a close up of hot steaming coffee pouring into a cup. The caption says, “Need a break from the rain today? Come in for a hot cup of our special blend.” Which post do you think is more likely to be shared?

Be creative, have fun, and your customers will engage.

3. Post Coupons and Special Offers Regularly

People enjoy saving money.

Psychologists suggest that promotions which play on scarcity, for instance, are successful because they activate innate fear responses. They urge people to get a deal before it’s gone forever. Half-off or buy-one-get-one deals highlight the pleasure center of the brain. They give consumers a sense of accomplishment in earning a reward others may not have. Moreover, they can form connections between friends who talk about the great deal they received (More on that here: LiveScience).

Deals are rewards in the minds of many, and your business should offer them frequently to earn the loyalty of your consumers. This will increase the likelihood that customers will tell their friends all about it.

Many business owners are intimidated by posting special offers on Facebook because they feel like they have to pay, but that’s not the case. You may not get the traction of a targeted ad, but all you need to post a promotion, is the device sitting in front of you. Simple posts, like the ladies night example in the step above, are promotions for your business that can be done from your phone.

To take it a step further, use one of the many free photo editing apps to add a unique redemption code to your photos. When customers come to your business, with the matching code, you can track the success of your Facebook efforts. If you do have an ad budget, Facebook has paid options that give your promotions greater reach.

fb-ads

4. Use Targeted and Proximity Ads

Facebook newsfeeds are cluttered these days. Among the cat memes, political posts, and videos on how to make a great crème Brule without a torch, your business may get lost among the noise with which your loyal followers are faced. Not to mention, you will get to a point where organic likes dry out, and you will need a bit of a boost to earn new audience members.

The beauty of advertising on Facebook is that it works around your budget, and targets only who you want to target. Let’s say you only want to spend $5 a day, for one week, targeting all females, 18-24, in your immediate geographic area: That’s an option. The more you spend, the more your ad will appear each day. You can also target based on income, status, and even what people discuss most! For example, if your business is a restaurant, you can target only those who frequently discuss eating out.

Facebook also allows you to target custom audiences based on email lists (more on that here), or people who have visited your website in the past 180 days (as long as they are logged into Facebook at the time). This can be a great way to remind people considering your goods or services that you’re available, or to entice them with some kind of special offer.

The more comfortable you get with these features, and the more results you see from your efforts, the more you can choose to pay. You may even decide to start a regular (i.e. weekly or monthly) campaign that Facebook will generate automatically, at your specified time.

What’s more – Facebook has built in redemption codes that allow you to know, with certainty, if your promotions are working to increase your revenue.

5. Ensure Your Page is Accurate, Enhanced, and Monitored

An effective social media strategy requires commitment.

Every point above is moot if the information on your page is inaccurate and/or untouched. After all, you wouldn’t want to direct someone to your Facebook page if your address or phone number is incorrect.

Does your business have a 1-star average rating on Facebook? Then why would you post a photo of that black eye, in ad form, for all of your customers to see?

You definitely wouldn’t want to pay for people to try and fail to redeem your advertisement because they are calling an old phone number; nor would you want to promote the fact your business failed its most recent health check, according to reviewer John Doe.

Moreover, there are cases where disgruntled consumers or former employees hijack Facebook pages and post damaging content. Hijacking aside, upset users often post offensive comments, images, and videos in places most wouldn’t expect, like cover photos, profile pictures, ads, etc. If no one is monitoring these things, then your marketing department should not focus its efforts on Facebook either. Such disconnects between operations, customer service, and marketing can be harmful to your revenue.

6. Listen and Engage with Customers

At Merchant Centric, we talk with many business owners and managers who believe that just because they regularly post on Facebook, or have targeted ad campaigns, that they are social engagement experts. Unfortunately, a key component of engagement is left out: Listening and addressing what your customers say.

You can talk at people all you want, but if they are not interested in what you are saying, they are not engaged. Even worse, if you don’t listen to what they are saying, they will stop giving you their time, effort, and money.

Facebook has a reviews feature, and one that has become quite popular. People can say whatever they want about your business. No matter what you post on your timeline, or how much you spend on ads, if you don’t reply to those compliments and concerns – your consumers are going to think you don’t care about them.

Take the time to understand and address your customer feedback through operational changes and thoughtful responses. Your current and potential customers will see that your brand is engaged and passionate about providing the best possible products and services. This approach helps brands earn more new and repeat customers, more reviews, higher ratings, and most importantly, increased revenue.

Learn More

If you are interested in learning more about tools and services that help your business increase revenue, contact us.