Social Media Question

[Jamie Orman]

So I'm just starting in Social Media but already have a few clients. I've kind of started to see a trend though.

I'm sure this is true with almost all services, but how do you guys answer a client when they ask the 'how much money is this going to make me' question?

A lot of the time they seem to want direct answers with exact numbers. You can't really give that in social media. For a company that doesn't even have a Twitter account how do you explain to them the benefits of using social media and that there isn't always proof of how much they are making.

[CashTactics]

The only thing you can do is explain the importance of Branding and getting their name out. I like to explain to them that if they are just a brick and mortar company then they have to rely on the hundreds of people walking by to stop in and look around. But because they are online they have millions of people who have the opportunity to stop by their site and look around. It is their job to sell the product. It is just your job to help them bring people in through social media.

[Joel Gray]

Jamie,

You may counter with the question to them "what is your lifetime ROI/Profit for a new customer?". Once you have gotten this figure you may want to ask about the amount of advertising budget that is dedicated to print advertising and use this as a comparison for the customers that are added due to the Social Marketing that your company is doing for them and compare the cost that are associated with each.

There should be some much smarter Warriors come around and give a much better answer to this question so stick around...they will show you the way.

Joel

[LynnM]

I often wonder if they would think of asking that question when they are submitting an ad to something like Yellow pages...I suspect not. Maybe they are like lots of would-be marketers who expect the internet to provide lots of money really quickly?

Lynn

[Shane F]

I used to have a restaurant and yellow page salespeople are aggressive. I think the same sales points they use can be translated to your social media customers.

Some of what they would say...

"Can you afford to let your competition advertise in the yellow pages and not you?"

"%%% of People use the yellow pages to order food everyday, you are exposing your business to XXX amount of potential customers."

"Of all business that advertise with us, 90% renew every proving that yellow pages brings them business."

They couldn't obviously put $ figures on the value of the ad in the yellow pages but using the general statements they make a decent argument.

These can be used for social media advertising also with small twists.

Shane

[Dana_W]

Originally Posted by Jamie Orman

So I'm just starting in Social Media but already have a few clients. I've kind of started to see a trend though.

I'm sure this is true with almost all services, but how do you guys answer a client when they ask the 'how much money is this going to make me' question?

A lot of the time they seem to want direct answers with exact numbers. You can't really give that in social media. For a company that doesn't even have a Twitter account how do you explain to them the benefits of using social media and that there isn't always proof of how much they are making.

Nobody can answer that question for social media - or for any other form of marketing or advertising.

What you can do is show them measurable goals.

By using Google Analytics, ou can show them how much traffic Twitter, Linkedin, and Facebook drives to their site. (I get most of my website traffic from Twitter.)

You can show them how many people click on links that are posted on Twitter by using free services like bit.ly, a simple url shortener

You can have them send out coupons using trackable links and see how many people use those coupons.

You can monitor the frequency with which their name is mentioned online before using social media marketing, versus AFTER social media marketing.

But if someone is demanding to know specifically how much money they will earn through a marketing campaign - that tells me they don't know much about marketing or business.

[Joel Gray]

Shane,

Excellent idea, thanks

Dana,

You too

Joel

[Jamie Orman]

Thank you all for the advice. It's going to help a lot being able to talk to certain 'difficult' clients who want to know how much I can make them.

Hopefully I will be able to explain the whole 'your job to sell the product, mine to help direct the traffic there'.

I just got done having a conversation with one client, and it seemed to go pretty well. So thanks for everyone who helped answer this!

[Mr Money Maker]

This the problem in starting any new business......you really need to do your research, and have the answer for them quick and fast.
Name a price, and never flinch !!
Never blink an Eye............in the stock market you have selling agents who would sell you stock on their speculation of what it could do in the future......but nothing is ever guaranteed. If you loose all your money in stocks...these guys do not have to refund your money ever !......same goes in business.........if your clients are difficult it's because you allow them to be that way.....They must respect you and your business. It doesn;t matter if you mow lawns for a living.......know your business...and give a price. ...and don't blink and eye lash when you do...they will respect you more......heck I even would charge higher price than the other guy.....and I'd make more money, because people would think I am more valuable....This is true....you must build respect..stand tall...be strong.....if they say the price is too much........no sweat, tell them you're in business and anytime they like to come back and talk they are more than welcome.....75% of the time..they'll be back.....just besure you offer a great service.