Social Media Money Formula
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The step-by-step formula for generating income from social media. By Tyler Garns, VP of Marketing at Infusionsoft
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Social Media Money Formula
- 1. Tyler Garns VP of Marketing @tylergarns w/@joemanna on chat Hashtag for this webinar: #smmf
- 2. No Pitch Webinar! 5 Free Gifts! Revealed at the end 2 will need to be mailed to you 2 can be downloaded 1 will rock your world
- 4. What do you do in social media? You MUST become a Creator!
- 5. Why should I get into Social Media?
- 6. What's so big about Facebook?
- 9. Facebook Time On Site
- 11. Add Value
- 12. Don't Sell
- 13. Don't SPAM
- 14. Friends/Followers Don't Equal Money
- 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 = $$$ SM = Social Media Bp = Blog Post Lc = Lead Capture Fup = Follow Up
- 21. Blog
- 22. Twitter Account
- 23. Infusionsoft
- 24. Offer Valuable Content http://bit.ly/3SW8Nm
- 25. Offer Valuable Content http://www.thinkbigart.com/blog/3-steps-to-social-media-success-for-photographers/
- 26. Other Types of Lead Magnets
- 27. Use Tools, Calculators, Surveys, Etc.
- 28. Tweet
- 29. Squeeze Pages Work Too!
- 30. The Process This is not the formula, it's the process: SM +Bp + Lc + Fup = $$$ 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
- 33. Forms that DO WORK FOR YOU
- 34. 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
- 36. Targeted, Relevant Follow Up
- 37. Results In Two Weeks!
- 38. Strategic Profits – Rich Schefren
- 39. Perry Marshall – AdWords Guru
- 40. Starr Hall – Social Media Expert
- 41. Starr Hall Endorses Infusionsoft
- 42. Free Stuff!!! + + + Conquer The Chaos – Clate Mask, Scott Martineau Outrageous Advertising that's Outrageously Successful Unleashing the Super Idea Virus – Seth Godin Crush It! - Gary Vaynerchuck
- 43. How To Get Your Free Stuff If you're already a customer, tweet me at @tylergarns
- 45. We won't charge your credit card
- 48. Today only!
- 49. Stop wasting your social media time and start making money now!
Notas del editor
- 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