I do not claim to be an expert of any sort in this domain. What I am sharing is based on our experiences at my company combined with the gyaan that I have read at other places. Now I am trying to pass off the collective wisdom as my own, so kindly adjust.
Social media has changed the rules of the game as far as marketing is concerned. This is great because for the first time a rookie brand can outshine, out like or have more people talking about it than an established marque brand.
To be able to raise any sort of revenue through social media, one should have a very cohesive strategy in place. Ours is to do the best that we can regarding our content and pray really hard that it works. We have tried different things at different points and have had mixed results. The most important thing that one needs to know and know really well is that what you do on social media cannot be radically different from how the brand acts and behaves in the real world. Brands which have been able to extend the personality of their brands on social media are the ones who have been able to generate maximum revenues eventually.
Social media is primarily a platform for people to engage with people ( and occasionally poke, fight or hit on them). Thus, any brand entering this sacred social space needs to realise that they are trespassing. Trespassers are usually shot down or asked to leave so make sure when your brand enters any customers social space you entertain them!
When we post in your face obvious ads on FB we don’t get a response but as soon as we make the ad interesting and more like a conversation the results change drastically. As of now FB remains our biggest source of ad spends and we keep trying different things to make sure our customers don’t get bored or think that we have run out of fun things to say.
Our last experiment was to start generating content on lines of lists that are potentially viral content. Our strategy was to make people who do not know about our website curious and make them enter via the content page. Once they came, we figured we could target them on FB. This has worked but we are not sure if this will be as effective 2 months down the line.
Also in our case we notice a direct relation between how many shares or likes a post gets and sales on the site.
So the easier way to make money through social media is to pump lots and lots of cash on ads or you could do it our way which is by spending nights and days thinking of interesting ways to keep consumers engaged. You could either bombard your customers with ads or you could be so interesting that they end up sharing your posts.
That is way too much gyaan from someone who knows so little about the internet but I must tell you if you want to enjoy yourself you should currently be on our FB page.