If you have already establish a presence on the social media, you may need to review/audit your existing social media accounts/profiles, in order to ensure that they have been set up correctly to profit.

In order to make money through the social media in your business, you will need to set some specific social media goal (or ROI), that you would want to achieve in your business through the social media, and will need to create and implement a social media strategy and plan, that will accomplish your goal.

In order to generate some sales through your social media strategy and plan, you will need to create, manage and execute them, you can do this by yourself or with the help of your employees and/or third parties through outsourcing. In order to know the best way to do this, that will work for your business, you will need to do some research and use some estimates to do some comparison of some of the social media management options that you may have.

Some of the options that you may have to create, manage and execute your social media strategy and plan for profit may be similar to the following

1). Doing It All By Yourself (Full Time) – Free

And using some free social media management tools.

If you are going to create, manage and execute your social media strategy by yourself, you will most often than not need to do this on a fulltime basis, in order for you to be able to get the specific type of result, that you want through the social media, in your business.

This may however not be possible for you, since you will typically have some other roles you may also have to play in your business, apart from being involved in managing your business social media presence. You may therefore opt to use some of the other options that are also discussed here, or you may have to start small.

You should however note that if you choose to start small, you may not be able to accomplish your social media goal within the specific time you may have set for it, and it may also take you quite a while too, to achieve your social media goal/ROI if you are starting small, you may therefore need to set a lower social media profit goal for your business, because of this.

2). Doing It All By Yourself (Full Time) – At A Low Cost

And using some paid social media management tools.

You will still have the same issues as the first option above though. And will also have some additional cost to incur too, that is, for the social media management tools, you may choose to use in your business.

If you are going with this option, some social media management tools that you can use in your business are

AgoraPulse

SocialPilot

ShortStack

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3). With One Employee (In A Full Time Role)

And by using some free social media management tools.

The Cost To You : $30,000 (within a year)

That is, the potential cost of the social media management service, that will be provided to your business, by an employee is $30,000. This is an estimated (demo) salary for an employee within a year, yours may be more or less.

4. With A Low Cost Social Media Management Service

You may get some freelancers/consultants to provide some social media management service to your business at a rate between $20 to $100 (or more) per hour, depending on how basic and involving your social media management needs are.

Hence if your social media strategy and plan need a 20-hour social media management service per month, your costs (within a year) may be similar to any of these

$20 x 20 x 12 months = $4,800

$80 x 20 x 12 months = $19,200

$100 x 20 x 12 months = $24,000

5. With A Premium Social Media Management Service

You may also get some premium social media management service (from agencies for instance) for use in your business. Depending on how involving it may be to create, manage and/or execute your social media strategy and plan, and on whether your chosen agency will provide some or all of what you may need to create, manage and/or execute your social media strategy/plan, your cost may be from say $600 (from starter packages) or more per month.

Hence a premium social media management service at the low end may cost you the following or more

$600 x 12 months = $7,200

6. Using A Combination Of All These Options

You may also choose to use a combination of any one of these options together too.

Note – All of the figures above are for demo purposes only. You will need to do some research of your own, in order to know how much you would have to pay, for any type of social media management service, that you may want to use in your business, based on the options you may have chosen for yourself.

Once you’ve gotten some estimates of some social media management options for your business, you can then do some comparison to choose the best option that will work for your business.

To Create, Manage And Execute Your Social Media Strategy And Plan For Profit

Whether you are using a free or paid social media management option, the following are some of what you will need to do to create, manage and execute your social media strategy and plan for profit

Do Some Research Before You Use The Social Media

Select Some Targeted Social Media Sites To Use

Do Some Social Media Profile, Page And Group Review/Audit

Set Up Your Social Media Accounts

Create Some Write Up (Bio, Company Information Content etc) For Your Social Media Profiles, Pages And/Or Groups

Create And Use Some Graphics To Set Up Your Social Media Profiles, Pages And/Or Groups

Use One Or More Payment Options To Get Paid Through Or From The Social Media In Your Business

Create A Social Media Content Strategy And Plan For Your Business

Create Your Organic Promotional Strategy(s) And Plan(s) If Any

Select Some Social Media Management Tools To Use

Execute Your Content Strategy And Plan

Execute Your Organic Promotional Strategy(s) And Plan(s) If Any

Connect And Engage With Your Target Audience

Listen And Engage With Your Target Audience

Create Promotional Strategies And Plans For Your Paid Promotions (If Any)

Create Promotional Strategies And Plans For Influencer Marketing (If Any)

Create Promotional Strategies And Plans For Marketing/Promoting Your Product/Service Through Other Social Media Users (If Any)

Execute The Promotional Strategies And Plans For Your Paid Promotions (If Any)

Execute The Promotional Strategies And Plans For Influencer Marketing (If Any)

Execute The Promotional Strategies And Plans For Marketing/Promoting Your Product/Service Through Other Social Media Users (If Any)

Measure And Track Your Results

Determine What Is Working For Your Business

Optimize Your Results

Your social media strategy and plan should generally include, how you would want to get to your target audience through the social media, which could be

Directly (by connecting and engaging with them)

Through other social media users

Through social media paid promotions

Through call to action buttons on your chosen/selected social media sites

By setting up one or more shops on your chosen/selected social media sites

Through applications (apps) on your chosen/selected social media sites

Through groups on your chosen/selected social media sites

You can typically get to your targets directly (by connecting and engaging with them) on the social media sites, if you however wish to use some of the other options for getting to your targets, such as, using paid promotions, getting referrals from other social media users (e.g. influencers) and so on, you will need to create a promotional strategy and plan for each one of such options too, and will also need to include such strategies and plans too as part of your social media strategy/plan.

Some of the skills that you will need to create, manage and execute your social media strategy and plan in order to profit are as follows

Research Skills

Social Media Profile Bio And Company Information Content Writing Skills

Graphic Design Skills

Social Media Profile, Page and/or Group Information Audit/Review Skills

Social Media Profile, Page and/or Group Audit/Review Skills

Administrative Skills

Promotional Skills

Social Media Strategy Creation Skills

Social Media Strategy Management and Execution Skills

Social Media Strategy Audit/Review Skills

Social Media Plan Creation Skills

Social Media Plan Management and Execution Skills

Social Media Plan Audit/Review Skills

Content Strategy Creation Skills

Content Strategy Management and Execution Skills

Content Strategy Audit/Review Skills

Content Plan Creation Skills

Content Plan Management and Execution Skills

Content Plan Audit/Review Skills

Paid Promotions Strategy Creation Skills

Paid Promotions Strategy Management and Execution Skills

Paid Promotions Strategy Audit/Review Skills

Influencer Marketing Strategy Creation Skills

Influencer Marketing Strategy Management and Execution Skills

Influencer Marketing Strategy Audit/Review Skills

Social Media Users Marketing Strategy Creation Skills

Social Media Users Marketing Strategy Management And Execution Skills

Social Media Users Marketing Strategy Audit/Review Skills

Content Creation Skills

Content Writing Skills

Ads Writing Skills

Offers (Discounts etc) Writing Skills

Social Engagement (In Relation To The Social Media) Communication Skills

Social Media Tools Usage Skills

Team Management Skills

Knowledge Of Your Product/Service, Your Uniqueness And The Value That Your Product/Service And Business Provide

You may provide each one of these by yourself, with the help of your employees and/or third parties through outsourcing. You may therefore need one or more copywriters, content creators, content writers, social media managers, virtual assistants, promotional assistants, graphic designers etc, to perform or provide any of these to your business.

How To Make Money Through The Social Media

Using Social Media Marketing For Profit

Social Media Marketing: How To Make It Work For Your Business

How Do You Make Money On A Site Through The Social Media?

… more >>

Resolving Your Social Media Sales & Profits Issues And Problems

If You Are Having Some Issues With Your Profits/Sales

Some Core Reasons For Your Social Media Sales/Profits Issues Or Problems

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