Let's be honest for a moment

Dec 05, 2017

Welcome to this episode. I’m Tom Koster and let’s be honest for a moment in this podcast. We are going to talk about social media and let’s be honest about social media, and let’s take a look at your business, and let’s ask yourself, “Is social media really making money for your business? Or, is it just a waste of time? And are you losing time in communicating with the wrong people?”

There’s a lot of going on at this moment in communicating through social media. Through LinkedIn, through Instagram, through SnapChat, through Facebook, of course, and more and more social media platforms may come up in the future, as well. But if you take a honest look at your business, and you take a look at how many hours you spend in a day or in a week on social media, and you ask yourself, “If it will bring you the money that you expected to be?” What would be your answer? And if you dare to take a look, to take an honest look at your business, then maybe your answer will be that it’s very disappointing.

For a lot of companies, it is very disappointing. If we look at the people who are making money through social media, then it’s the big companies with deep pockets, and with big departments of staff people who could do their social media for them. It’s also the social media gurus who tell all small business owners like you and me, “That we need to be on social media. We need to communicate with basically everyone and their brother.” But I’m here to have a different voice. My voice is, “Be careful with social media and be careful where you spend your time.” It’s highly likely that if you go on social media, and you interact with people, that people will interact with you also, and it will not all be positive.

Some people will be critical. Some people will be cynic. Some people will be positive, of course, but based on what you communicate on social media, people may also be very critical of you. And what you tend to do is to go into a discussion with them. What you do not want to do is to have a public discussion with someone who doesn’t agree with you, or with your company, or with your view. How can you do social media effectively? Because there is a way, in my opinion, to do social media effectively. And that is to use social media as a direct response mechanism. To communicate on social media who you are and what you do, do it periodically, and only use it for outgoing communication. Not for discussion. Be very careful on what you communicate about your business.

What we tend to do as entrepreneurs, as salespeople, is to brag a little bit about how good we are, and how good our products are, and that’s very difficult to do, right. Because people may criticize you for that. But if you take the approach of sharing, you’re sharing who you are, and sharing what you do, that’s a whole different approach. Right. But also, social media can be used to make sales. And what I teach is a sales process.

The sales process goes like this. You generate leads, you set appointments, and you convert the leads to a paid customer. Social media can help you with doing that. And if that’s the purpose of using social media for your business, I totally agree, and you should absolutely do that. What I do not advise you to do as a business owner, is to post all of this private things on social media with no real strategy. As small business entrepreneurs, our time is very, very limited, and we have to be very careful where we spend our time.

If we spend too much time on social media, just chit-chatting with everyone and their brother, responding to whatever the gurus think we should respond to, then the day is over, the day is done, and we haven’t made the money that we thought we would make. But if you take the approach of lead generation, appointment setting, lead conversion, and you use social media to generate leads or to follow-up on leads, with the purpose of making an appointment, and during the appointment, you give a professional presentation, and you get the sale. That’s a whole different approach in using social media.

With this, I end this week’s episode of the podcast. My name is Tom Koster and I’m dedicated to increasing your income.

Bye, for now.