How Much is Your Following Really Worth? (And How to Increase That)

Perhaps you opened your social media accounts because you knew you should but you didn’t really know why or what it was going to do for your business. A few years back, most business-related social media accounts were just a place for happy brick and mortar customers to reminisce on their experiences or current customers to learn about (and hopefully bite on) new promos, products and services. At that time, it was hard to place a dollar value on each social media follower since their financial impact on a business was negligible, at best. These followers gave (and still give) businesses and fellow customers a non-financial value; more of a warm and fuzzy feeling than additions to the bottom line.

As they do with technology, things have quickly changed…but only if your following has too. Don’t completely disregard the non-monetary value your original followers (we’ll call the ‘messenger’ followers) provide since they are the current-day village gossip. Remember the old adage that a happy customer will tell one person and a dissatisfied patron will complain to 10 friends. Luckily, social media and ‘likes’ have changed that dynamic a bit and happy customers tend to spread the word to a wider net.

In addition to these ‘messenger’ followers, you should also aim to grow your ‘purchaser’ following. These followers are quieter and appear to be less active on the surface but they are actually more active when it comes to the bottom line.

To push your social media platforms to the next level, increase followers and gain the ideal mix of followers.

Here are some tips:

Photo cross-section of influencers and audiences

  • Engage: If you neglect your social media, it will quickly reflect in your number of followers. Lack of posting means disengaging with the messenger-style followers (which are necessary to keep up and expand your overall following) and purchaser followers will get upset if their questions go unanswered.
  • Post Often: Again, think nurture not neglect. Water the plant and it will grow. The highest social media earners post a lot…as in multiple times per day. This might sound like a lot but so long as you’re providing worthwhile contributions that keep people engaged, and not over-saturating them, you’ll be fine.
  • Pre-Plan: If constant posting is overwhelming or will take precious time away from you actually working in and on your business, you can pre-plan posts ahead of time rather than keeping your social media accounts open all day.
  • Hit Every Angle: Text-only posts should still have a place on your pages but attention spans are only getting shorter as the years go by. To reach every possible follower, appeal to the visual and auditory crowds. Videos or audio clips are a great way to reach the non-readers out there but keep it short and sweet.
  • Hire Out: If it’s financially feasible for your business, hire a social media planner who specializes in growing and maintaining your pages with specific goals in mind. Many planners work with several businesses so you don’t have to commit to a full-time employee if you usually work solo or your company is on the smaller side.

Simple illustration of social media components

  • Stay Authentic: If you choose to pre-plan posts or hire help, it’s easy for your social media accounts to look like a robot is behind the scenes. If everyone knows your business is in Seattle, don’t schedule posts at 1am Pacific. If you’re staying engaged and you make sure to throw timely content in on a regular basis, you’ll stay authentic.
  • Utilize Stats: Avoid shooting in the dark and make use of a service like our Influencer Links that allows you to track the performance of each of your posts. Find out what works so you can post more efficiently to maximize profits. Influencer.co allows you to create easy tracking links and generate professional reports for free.
  • Become an Affiliate: Even if your end goal is to sell your own product, start with an affiliate program to increase attention and to start earning income. This will also get followers used to purchasing something familiar from you before they make the plunge into the unfamiliar.
  • Paid Endorsements aren’t just for Celebrities: Reach out to brands you use and like (again, think authentic) for social media promotion gigs. Companies will pay for a simple photo of their product or a shot of you at their location if they have brick and mortar stores, along with a designated hashtag, of course.
  • Filter, filter, filter: You don’t need expensive filming or photography gear but photos should look the part if you’re expecting likes let alone a payout. Remove clutter from the scene and crop out anything distracting or unsightly to make for a clean, modern and professional-looking picture.

There are several ways to increase followers and income on social media but the one thing you shouldn’t do is pay for followers. Sure, your numbers instantly look great after you purchase a bundle of followers but your real social media-savvy followers or companies you hope to work with will see right through the façade. They’ll label you, you guessed it, inauthentic and not worthy of their investment. This can impact all of your possible angles of online income so keep it real and stay the course to boost your follower ‘worth’ online.

Ready to get serious about monetizing your following by promoting and tracking the products you care about? Influencer.co helps new, emerging and pro influencers, their managers, agencies and brands do just that, and make it dead simple.

CATEGORY: Education, Engagement, Social Media Marketing, Tips & How To’s

Influence.co Team

Related items

Leave a Reply

Your email address will not be published.

Copyright 2017 Influencer. All Right Reserved.