What is Multi-Touch Attribution? Multi-touch attribution is a measuring technique used in marketing to determine the value each touchpoint has in driving conversions in the consumer journey.
These days social media is the most popular tech buzz word. Nearly every brand is integrating social media in their marketing campaigns and as a result is helping to create a variety of social offers which can be easily integrated into your marketing efforts.
While questioning “Is it really possible to monetise social media?” the answer is “Monetising social media is difficult but not impossible.” Every successful and popular brand with social media integration wants money to roll in. They are doing whatever they can to monetise and make money through social media. This is proving to be quite challenging since social media sites have members reaching thousands and even millions with everybody trying to get a piece of the action. So, you need to begin in the right way to monetise your social network.
Given below are three basic tips that will help you in monetising your social media:
1. Engage Your Audience
Social Media is a platform where you share your dialogue with your customers and consequently your communication has the potential of being more fulfilling the prospect of being profitable. Keep your page interesting by involving user activity. It’s a good idea to include a separate tab for your audience where they can question their queries and you can answer them as they arise. Moreover, you can create a custom app for your page in the form of games that will let the users share your page. This will automatically increase your visibility and popularity and in turn provide potential clients with whom you can generate revenue.
2. Building brand awareness through advertisement
Unless you already have a recognizable brand like Apple or McDonalds, your brand needs to develop social media magnetism in order to make money. The magnetism is gained through advertisements where you can throw them with specific content to targeted audiences. This will help to generate traffic to your page or website allowing people to know more about your products.
3. Affiliated marketing
Another way to monetize from social media is through affiliated marketing. Research products or brands that you are akin with and sign up for their affiliated marketing programs. This will help you to earn a certain percentage based on sales that come from your recommendations. Promote products in a way that people start bustling over.
Besides these, be careful on how your represent yourself because people are easily annoyed and in some instances are driven away by poorly executed marketing tactics and suspicious looking products. For monetizing your social media, grow your network, target a specific audience, update your content and then search for possible advertisers, sponsors or marketing companies.
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