Tag Archives: likes

5 Mistakes Social Media Agencies Make Before Even Getting A Client

I love the fact that social media has grown so much and now there are so many companies taking advantage of the possibilities. I also dig that there are so many new social media agencies being started by talented individuals that have decided to turn their love of the industry into their business. But it is very important to note that understanding how to be effective marketing in social media, does’t automatically equate to being effective at running a social media agency.

As some of you know, prior to Bundle Post and becoming a social media content management software company, we were a social media agency. We made all the mistakes and figured out a lot of the challenges starting and growing a social media agency entails. I consider us very fortunate to have developed many procedures, rules and processes that I am now able to pass on to many of our software users and readers of our blog.

Social Media Agency MistakesBeyond the many business challenges of an agency, there are distinct changes to mindset and focus that many new agency start ups overlook. These subtle miscues often result in a slower path to revenue and profitability for not just the newbie, but many long time practitioners. Getting these social media marketing components in tact for your company, will help you excel your growth and results.

Five Of The Mistakes Social Media Agencies Make:

1) Priorities: When I work with social media agencies or have them go through my course, I explain that there are two priorities they should have. Unfortunately, most don’t have the two proper priorities in place. They should be:

a) Meet with and sign new clients.

b) Handle client programs perfectly.

I often find that many are doing so many other things outside of these priorities, that they end up stuck in the same place. I have also discovered that much of the time fear is the reason. Without having these priorities your agency will not grow at the level it can. Additionally, by having these as your priorities, all other issues and challenges you face will be resolved, because you will have the resources and capital to address them.

2) Wrong voice: The next three mistakes surround your agency’s own social media management. The first, “Voice” is probably the biggest mistake I see made. When I say voice, I am referring to messaging, content creation (blog posts) and content strategy. Many, and I really mean MOST social media agencies focus their voice incorrectly on their peers and competitors, rather than their prospects.

Preaching to and for the choir is not at all in line with the proper priorities set out in number one above and lead to great relationships, but not new clients and revenue. But let me be clear. I am not saying never to engage with your peers. I am saying do not fall into the trap of writing and posting content that will not attract your target audience, or spending the majority of your time engaging and building relationships with non-prospects. You would, or at least shouldn’t do that with your clients social media programs, and you shouldn’t on yours.

3) Wrong Audience: Similarly to wrong voice, building the wrong community that is not made up of primarily prospect relationships is another big mistake. Part of being a social media agency for your clients is a proven ability to not only manage their social media, but to also build a highly targeted community for them. If you can’t do this effectively for your company, there is a problem. Find and connect with your real target market and build relationships with them that result in new clients. Just as you would for YOUR clients. Spend less time growing likes and follows from your peers and competitors.

4) Wrong Focus: The third big mistake social media agencies make in the management of their own accounts is not focusing where their audience is and building communities and spending time on networks that will never return results. Again, you would not recommend building a clients community on a network that you know will not deliver results, so don’t waste valuable time doing that yourself.

Again, I am NOT saying that you should not have a presence and understand the more niche networks so you can be effective for your clients that do need to use those platforms. I am saying be wise with your time and get some focus to what you are doing and where you are spending it and with whom.

5) Website Error: Lastly, check your website with respect to Pricing and Packages. Do not have either listed on your website. Why? Do I really need to get into this? I suppose I do…

Let me give you a few important reasons, then point you to another post that covers this in detail:

a) Social media programs are not cookie cutter.

b) If you give prices to shoppers, they will shop your price, not even understanding the differences between what you do.

c) Someone will always be cheaper.

d) Don’t sell price, sell value.

Again, for more on this read this post too.

Though there are so many more mistakes I see being made by many social media agencies, it is my sincere hope that these social media management mistakes can now be avoided and you can get on with making the revenue and getting the results that are possible.

* For more on social media agencies and the proposal and sales pitch, read this 5 part series.

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Filed under Agency, Community, FAIL, Followers, Marketing, Relationship, Social Media, Social Media Content, Social Media Management, Social Media Marketing, Strategy, Twitter

Solution To Facebook’s EdgeRank, Revenue And Stock Price Issues

Monday night I was climbing into bed fairly early and thinking about all of the posts and articles about Facebook and their need to drive revenue now that they are a publicly traded company. My thought process also veared to the recent firestorm and frustration surrounding Facebook’s ever-changing EdgeRank algorithm that is increasingly limiting personal and page content reach. As I continued to ponder these two connected issues I began to formulate an idea that I believe to be an effective solution to both.

An article I shared Monday from Computerworld outlines some of the changes social media is experiencing with the “pay” requirement that is creeping into the space and the frustrations that could damage the industry. Their article “Here comes the shameless social money grab” outlines why charging for social networking sites is wrong. Though not comprehensive, it does detail the huge potential backlash starting in the industry. This article was the catalyst that got me thinking on a solution.

Mark Zuckerberg, this is for you buddy. If only you would listen…

My three point Facebook plan involves core changes to EdgeRank implementation, how pages are monetized, as well as new search capabilities within Facebook. These changes are designed to improve user experience, reduce frustration, expand page capabilities and reach, as well as provide Facebook with substantial and sustainable revenue streams. Let’s jump in and review my suggested plan.

Part 1: Facebook Pages – According to Inside Facebok, there are approximately 42 million active pages on Facebook at this point. Given this valuable business use of Facebook’s network, I propose making pages a paid medium for brands at three levels. $3/mo for small, $10/mo for medium and $20/mo for large pages, depending on number of likes.

Pages represent the biggest opportunity for Facebook to enhance value to both business and consumer users of their platform and derive revenue from doing so. My proposed nominal fees for fanpages should also coincide with the removal of EdgeRank placement for these pages in users newsfeeds that have liked the page. Pages that do not subscribe to the paid platform keep EdgeRank in place, resulting in extremely limited reach to their audience.

There are numerous benefits to this aspect of my plan, but I will highlight just a few:

1) Reduction of useless and inactive pages on Facebook’s network

2) Enhanced REAL value to page owners

3) Likers get the content they have opted into without restrictions

4) Pages have more focus to attract real likes rather than fake numbers

5) Clear path to $1 Billion in annual revenue for Facebook, achieved very rapidly

6) Existing Facebook advertising revenue options still applicable, but more valuable to page owners

Part 1: EdgeRank – The EdgeRank algorithm that currently controls what content users see in their newsfeeds is a substantial barrier for Facebook’s average users experience within the platform. Part two of my plan would be to immediately remove the algorithm for personal profiles. Should a user wish to adjust their newsfeed content using existing lists they have created or purchase additional exposure, per Facebook’s recent test offering, these will remain as viable options.

Again, there are numerous benefits to removing EdgeRank for personal accounts, here are just a few:

1) User experience increases dramatically and immediately

2) Significantly more engagement and time on site will occur right away and result in more ad placement opportunities for Facebook, while not harming the personal user the way EdgeRank currently does.

Part 3: Search Enhancements – The next logical step in my plan is to modify Facebook search to mimic a Google-like web search platform for content within Facebook pages. The idea would be to allow users to search for posts that exist on all pages that is relevant to what they are looking for.

A few significant benefits:

1) Users find relevant content and new pages to like INSIDE Facebook easily

2) More users stay inside Facebook for new content discovery

3) Pages are forced to focus more on providing relevant content for their target audience

4) Facebook gets massive new Google Adwords-like revenue stream

5) Pages have additional path to target and grow likes

6) Facebook helps pages to grow from small to medium or medium to large, thus increasing revenue from Part 1 of my plan

I am not saying that I have an end all, be all solution here, but I do believe I have formulated a plan that delivers real increased value to page owners and users alike, while giving Facebook a real path to substantial revenues and ultimately a reflected stock price. As with regular and proper social media marketing, strategies based on delivering value always get the best results. My three part plan would result in value to all levels of users, pages Facebook executives and shareholders.

This is a slam dunk!

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Filed under EdgeRank, Facebook, Fanpage, Marketing, Social Media, Social Media Marketing, Strategy