A lot of the arguments against social media for business revolve around ‘social media does not increase ROI’ or even if it does, it is very difficult to measure. After all, those people that ‘Like’ you on Facebook are not necessarily the people that are willing to pull out their credit card and buy from you, and if they do end up buying your product, would they have done it anyway?
If you fall into the group of business owners wondering if social media can work for you (no, it doesn’t work for everybody) and if you would get a return on your investment, then you are missing the most important question: Can you use social media to add enough value to your prospects to make them prepared and even happy to give you value in return?
Boosting the value of your products on social media is not simply about giving ‘Facebook fan discounts’, in fact, this technique is often a great way to DECREASE the perceived value of your product. A discount out of the blue may sway a couple of people, who are on the fence with regards to buying your product, however prospects who you have not built authority or rapport with will see this discount as a way to make a few extra sales from a weak product.
What if there was a way that you could charge MORE for your product or service, and have your social media followers even more eager to buy it?
Assuming that your product is a valuable product (you wouldn’t release it if it wasn’t would you?) then why would you discount it? Instead, try demonstrating that value your customers would get by giving away a small part of it. If your product is an eBook about restoring old cars, then showing your prospective customers how to breathe life back into the paintwork would not only add a great deal of value to your customers, but it also creates a great piece of sharable content that your followers can share with their friends who have the same interest.
Most importantly, this high quality content will cause your prospects to think ‘if they are giving this high quality content away for free, how good must the paid content be?’ Using the example above, having new looking paintwork can add hundreds or thousands of pounds to the value of a car, well worth a small £27, £37 or £97 eBook price, so when they get the entire eBook showing how to rebuild the engine and change the suspension or whatever it is you do to old cars, with evidence proving you know your stuff, your prospects would be stupid not to make the small investment. From here, you have built trust and authority with your prospects, and you are no longer someone trying to sell to them, but you are a maven that has a wealth of high value knowledge to share, boosting the perceived value of your brand and your products. Once you have removed the fears your prospects have of being ripped off online, then your product becomes undeniably more attractive, and well worth a higher asking price.
If you have found this post useful then please feel free to click the share buttons, leave a comment and check back here soon as our next blog post will be aimed at giving you some secrets you can use to add value using social media after the sale to keep your customers coming back for more.