5 Proven Ways New Businesses Can Break-Even Faster
The hardest milestone for all small businesses is getting enough traffic and product awareness for their brand. To put it more simply, a small business initial goal is to tell the world “I’m here”.
Which once was a fad many years ago, social media platforms have become marketing giants, offering businesses valuable data about their customers. The most crucial point and top beneficial uses of social media platforms are that they offer free marketing opportunities for capital deprived small businesses.
Yes, ads on these platforms costs, but you can gain a quick traction for your company by being consistent in posting, sharing, responding, and supporting your current customers and future leads. Due to the overwhelming, proven and profitable results from engaging with your audience on these platforms, it is sincerely necessary for all small businesses to use their marketing power.
Many new businesses will have their break-even point measured. For those who don’t know what it means to “break-even”, it is the point when the initial investment for a business is fully paid by its income. The break-even point is 0, then the increase is considered surplus or revenue.
So here are 5 proven ways a new business can break-even faster with social media.
Private Groups or Tribes
On some social media platforms, private groups can be created to provide support or community building. Many successful entrepreneurs who provide services, e-Courses and programs utilize these groups for various reasons that have made them HUGE bucks $$. Entrepreneurs like Toni Robbins, Todd Hermon, Marie Forleo, Amy Porterfield and more, has been incorporating these Private groups or “Tribes” as bonuses for their programs.
How do they make money from this you may ask? They create e-Courses or online programs and make a Facebook group a private room for one-on-one or group support. They schedule Q/A (questions and answers) sessions and consistently provide any and all support to their customers who purchased their products.
Why do they work?
It builds a small room of raving fans who have already bought and is always willing to buy again. It’s a great place for product research, lead-magnet offers to obtain email addresses and much more!
To put it simply, it is a gold mine and treasure chest all in one place. Furthermore, it costs you $0 to have them.
Lead-Magnets are free offers or downloadable resources that can be given to your ideal customers in exchange for something – like an email address.
Why would anyone give valuable resources away for free? I’ll tell you why, there is money in the list – the email list that is!
You usually find these little blocks on homepages, sale lead pages, social media ads, and social media posts. They are literally EVERYWHERE!
You should spend a good dose of time creating these types of resources because of its excellent traction for customer conversion – hence the name “Lead-Magnet”.
Why do they work?
The collection of email addresses obtained from this technique provides you an organic audience for your campaigns like free webinar ads on Facebook or email campaigns. These free webinars will then allow you to sell your hefty priced products or programs. Members
Live or Pre-recorded Video & Podcasts
Amy Porterfield, Marie Forleo, and Melanie Duncan, three of my favorite female entrepreneurs who are literally killing it in the game, are heavy advocates for Facebook live, videos and podcasts. They do Facebook live for their private support groups on a weekly basis. They have highly engaging podcasts. Marie Forleo has her YouTube show pact with great business advice.
Why do they work?
Utilizing these particular tools increase brand awareness, creates more fans, and inevitably creates more paying customers. You want to increase your likes, follows, or any other version of social media tracking? Start recording and publishing and see the amazing turnaround in your business.
Sharing your knowledge through articles or pre-planned status updates.
Something that is very simple to gain brand awareness, is to post statuses on a consistent basis to your social media accounts. There is a science behind this – which is created according to your specific audience. There are precise timing during the day that increases your post availability. That is why you should always keep track of the views and engagement on every post, so you can analyze and predict when is the best time for you to post.
Many crafty social media users have dedicated a custom #hashtag for a special status series. For example, #PowerhouseTip is one that I’ve used in the past to promote a short 10-day business strategy post series for my Facebook viewers. What’s really great about this is your twitter account will get these post as well because you used the #hashtag.
It is good
Posting on your page is great, but don’t stop there. Find groups that have your ideal customers and join them. Answer questions and allow them to get to know you. This Technique is priceless if you’re trying to get your brand out there.
Why is this important for you?
Social media will allow you to meet your break-even point faster by increasing brand awareness and loyalty. 53 percent of Americans who follow brands on social media are more loyal to those brands. Social media also increase website traffic and search ranking. It also will allow you to see what your competitors are doing, so you can learn or do better.
Today, social media is the converse haven for your business’s audience. Not meeting and greeting with them in their new profound environment is doing them and your business an injustice.