Why your social media effort isn’t making you any money…

bigstock-A-matrix-analyzing-effort-vers-38732065Browsing Facebook, Twitter and various blogs throughout the day, I get bombarded with tips, tricks and advice on what, where and when to post content on social media.  What I find interesting is that much of the advice is centered on the mechanics of what do do rather than measuring the results.

Consequently, I see many entrepreneurs going wild with posting, blogging, pinning, and tweeting in an effort to replicate what the “experts” told them, yet without first outlining what it is that they actually want to achieve with all that activity and putting a plan in place to measure their return on investment.

There is an old saying in Quality Management circles that “you can’t improve what you can’t measure” and any activity that is measured and does not positively influence bottom line results, should be eliminated.  As a Six Sigma green belt I learned that in order to improve any process you must first define the problem statement (or goal), create a baseline of your performance, strategize on how to improve the outcome, and maintain the results.  Without this logical sequence your attempts to achieve better results will be random at best.

Here are three key questions to ask yourself when it comes to your social media efforts:

1. What’s my main objective?
Gain online visibility, drive website traffic, gain new leads…etc.

2. What are my current patterns of engagement?
Consistency, audience response, time and money invested, evidence of ROI …etc.

3. What do I need to change?
Increase activity on platforms with high ROI, decrease or eliminate low yield social media activity…etc.

Whether it’s a Facebook post, a Tweet or a blog post – just because you put it out there doesn’t mean it will resonate with your target audience.  You must continuously pay attention to what works and what doesn’t and also give yourself permission to stop any activities that cost you more time and money than they are worth.

If you want to be successful in your small business and become a wise steward of your resources, it is crucial that you spend the majority of your time on revenue generating tasks.  Strive to eliminate non-value add tasks and at all times be cognizant of where your money comes from.  For example, if 80% of your business is generated by customer referrals, don’t sink all your time into marketing on Facebook – spend it on rewarding the customers who sent you the new leads!

If you would like to learn more about how I can help you make your small business a success, I invite you to schedule a complimentary business strategy session with me.

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