Businesses started by optimizing their websites to drive more targeted traffic and, therefore, generate more revenues. They updated their websites to be full-responsive or created a mobile website so people either using their desktops, laptops, tablets or smartphones could see the complete website and generate more revenues as well.

But using social media as a new stream of revenues is a bit different. You don’t just create a Facebook page or make a couple of tweets. It goes well beyond that.

Social media marketing can have a big impact on your business revenues. Just think about the Millennials generation. They don’t like to be sold to; they like to do their own research; find a product they like. But they won’t buy it just because they like it. They will look at the social media pages of the company and will ask their friends opinions. Millennials will also look for some interaction directly with the business. They like to talk to whoever is in charge and they like to be listened to. And all these is mainly done on social media networks.

Many marketers keep being focused just on the number of shares, retweets, or followers of their pages, and they are letting a huge opportunity to increase the business revenues pass by.

Here are 3 ways business can increase revenue with social media:

  • Engage with Your Social Followers:

    More and more people are looking to interact with businesses directly. People don’t like to be numbers; they are human beings and like to be treated like that.

    So, it’s extremely important that you interact with people – either they are already customers or not. Make them feel they are valuable, that you listen to what they say.

    Making special discounts or promotions specifically for your social followers is a great idea. They will be grateful and they will be loyal to your brand.

  • Provide Customer Service Through Your Social Channels:

    Most of us have already experienced, at least once, a bad customer service. Either it’s by chat, email or phone, there are people who shouldn’t be at this position. They can’t solve our problems and they are rude many of the times. But with social media, this is different. People are turning more and more to social media pages of the company to ask for customer support.

    So, having the right people handling customer support directly on your social media pages is definitely a good idea. Even if you’re not able to solve the problem but if the customer support is patient and kind, people notice it. And they will remember you if they need what you are offering.

  • Drive Social Followers to Your Website:

    Besides engaging with your social followers and providing a good customer support on your social media pages, you can create enough buzz that will lead these followers to your website.

    By providing excitement and interest, either by making a great post or by sharing a particular image, it may be enough for people to go to your website.