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How To Massively Boost Sales With Social Media

How To Massively Boost Sales With Social Media

Social media is one of the most underrated tools when it comes to monitoring your company’s competition. Learning how to use it differently can give you a better understanding of your market segment and give you fresh ideas for new products. And the best part is, it costs nothing.

So, let’s get started!

How Can I Use Social Media to Benefit My Business?

There are billions of active users on social media. This pool of users is completely free to tap into. Social media is great for collecting information from your competitors because it enables you to collect information directly from both industry thought leaders and product users.

Monitor Your Competitors Online

People are already talking about your competitors on social media. Monitoring makes it easy to find them and listen in on the conversation.

The main benefits of competitive social media monitoring are:

·         Competitive analysis

·         Habits of top influencers

·         Custom insights

Watch What Your Competitors Are Doing And Learn From Their Strategy

·         Find out what people say about your competitors and their products online

·         Focus on their 1 or 2 most popular products

·         Figure out which of those products you can create and probably do better

·         Build your roadmap to reach your goals successfully (ask me how!)

Case Study: How I Massively Boosted Client Sales with Social Media Monitoring

My client, an energy drink manufacturer, came to me with a problem. After years of increasing sales in their market they had slipped down several notches to sixth place.

I had to figure out why customers stopped buying from them and what to do about it. So, I went to social media to snoop around.

I began watching their biggest competitor (the one taking their market share) on the following platforms: Instagram and Twitter – one visual platform and one text based.

Then I began to collect. I made a deep dive into understanding their competitor’s products and which were the biggest hits with target customers.  

This is what I found:

·         Their  competitor’s portfolio offered a top-selling smaller size product of their energy drink

·         Their competitor offered a popular variety energy pack

·         Both of the above products were missing from my client’s product line

I advised my client not to think about opening up their product line, but just start manufacturing. Taking my advice, my client decided to offer a similar portion size and product flavors.

Conclusion

The result: my client quadrupled their sales the very first month, and sales have increased each month since.

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