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The numbers on social media marketing are impressive. More than half of small businesses in the United States are planning to increase their social media marketing budgets in 2017, and the number of businesses using social media marketing has increased, year over year, for more than a decade.
Still, social media marketing remains underrated. Business owners and marketers frequently treat it as a second thought—something for an intern to handle, rather than a strategically deep mode of building your reputation and attracting new traffic. Some have even abandoned the idea altogether, refusing to spend any time or money on a strategy that nets a positive ROI for up to 92 percent of businesses that use it.
So what’s the deal? Why isn’t everyone on board with the strategy?
So how do you use scarcity to obtain new leads? How can scarcity be used to increase leads? If you look at the principle of supply and demand, you’ll notice that when supply is limited, demand goes up. Scarcity has a psychological influence on us, making us want something even more if there isn’t enough to go around. Scarcity is great because it creates a fear of shortage, and thus a sense of urgency.
Limited Time Offers
Limited time offers are among the most popular in the scarcity category. Just think about your average car dealership. Practically every commercial is a limited time deal. “Get 0% financing before it’s gone!”
Limited Quantity Offers
When something is of limited quantity, it suddenly becomes more unique or exclusive. In some studies, limited quantity or supply offers have outperformed limited-time offers. Why? Because it’s hard to tell when an offer of limited quantity will suddenly become unavailable, while a time-based offer has a known end time. Limited quantity offers are great for not only getting people to say “yes” to your offer but to avoid procrastination completely.
Limited Time and Limited Quantity
Groupon is the perfect example of using both tactics. All Groupon deals end within a certain time frame, and they limit the number of people who can buy a Groupon. That’s a powerful combination. The site also packages these scarcity tactics with discounting, which is another great value-add, especially for e-commerce businesses.
How effective is your social lead targeting? Nowadays, buyers are sharing more openly their interest and activities on social media. Thus, it’s vital to take advantage of this medium to capture and refine available information to target the right buyer persona based on their social media activities.
Social media isn’t just about branding anymore in fact; you can get social leads from your social media accounts. You might ask, how can I turn my social media campaigns into a lead generating machine? Easy breezy my friend, let’s start with the basics. Lead generation is not about selling; it’s about bringing people into your sales pipeline, a process of stimulating and capturing interest in a product or service for the purpose of developing sales funnel. Now, think of lead generation as intelligence that gathers your customers:
Potential products to sell
Insights on how to make them into paying customers
Americans astonishingly open their social media account 17 times a day, meaning at least once every waking hour, if not more. Thus social media is the perfect spot to fish your target audience and turn them into a sales lead.
Right Social Media Platform = Right Social Leads
In looking for leads, choosing the right social media platform is important. It’s not safe to assume that Facebook is always the best social media to opt for. B2B marketers have generated 44% of leads on Linkedin, 39% on Facebook and 30% on Twitter. The techniques you use to generate social leads depends on the social media you’re using on. Here are some ideas to kick start.
Generating Leads on Facebook
Facebook has 1.13 billion of active users, a great place to reach new audiences. You can generate leads here for free, or you can have Facebook advertising to run. However, for free leads, you can turn your fans into leads through:
Create contact form on custom tab
Posting your landing pages or blogs on your wall
Add call-to-action on your facebook page
Generating Leads on Twitter
On 2013, Twitter released its Lead Generation Twitter Card that will help advertisers find and connect with Twitter users. Twitter Card let people securely share their email address to your business without the need of leaving the Twitter website or having to fill out some forms.
Generating Leads on Linkedin
Linkedin is the top social site to cultivate B2B leads and here are some ways to generate Linkedin leads:
Optimize your profile for connecting
Search users who match your buyer’s profile, create a list and make initial contact with them.
Generating Leads on Instagram
This photo-sharing social network not only give us practical ways to share photos but to do so in chic. So here are some of the techniques to use Instagram as a lead generation tool.