What is Your Conversion Rate?

When discussing social media with many business owners and sales professionals, their focus is mostly on how many LIKES they have on Facebook, the number of connections they have on Linkedin and their followers on Twitter.

If your numbers are high in these areas it might be great for your ego, but you can’t deposit ego into the bank. It might make you famous, but fame won’t pay your business expenses or help pay for your next vacation.

You shouldn’t ignore your number of likes, followers or connections, but the even more important number is your conversion rate.

So you have 800 likes on Facebook, what percentage of them have you converted to paying customers, clients or patients? This is a critical number to know because it’s the number that will grow your bank account.

What’s your process or system for converting your LIKES to prospects, then paying customers? What are you using on your social media sites for LEAD MAGNETS so you can entice people to “opt-in” to your conversion system?

Does your Facebook Fan Page have a “Like Gate” that allows you to capture the contact information of people who like your page? Do you tweet out offers to your followers to get them to identify themselves as your potential customers?  What do you post on Linkedin to encourage people to contact you?

Do you provide FREE valuable content that will help move people through your conversion process? By valuable, I mean offering content designed to answer questions and overcome objections to your products and services. Content that will demonstrate your expertise by highlighting your potential buyer’s issues and explaining how your products/services will benefit them by solving their issues.

Lost in most small business social media efforts is one fundamental marketing fact – you must use social media tools to GENERATE a List of LEADS. You need a lead before you can make a sale, obvious, but often overlooked.

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