Twitter ROI Breakthrough: Can Small Business Use Twitter to Make Money?

Calculating the ROI of FreeI saw this headline (Everything You Need to Measure Twitter Marketing ROI – Hubspot) and it set me off on a simple train of thought.

Question: Can a very small local business make money using Twitter? Can the ROI of this process be easily evaluated and reported?

Answer: Of course. Spend no money on Twitter, set up an account and tweet a deal or coupon occasionally. (You’ll have to calculate the cost of the 5 – 10 minutes a day or a week, depending on your level of ambition.) Make sure you code the offer in a way that you can recognise when someone is activated by your “social media campaign.” Good old school concepts like, “Ask for the Twitter Deal and get 10% off your next Pizza from The Pizza Palace.”

Reporting: Investment = nominal. Return = 90% of revenue for the one sale that resulted from your tweet.

Lest you think I am being sarcastic here, I am not. I’m a big proponent of an organized approach to social media.

1. Plan; 2. Execute; 3. Measure; 4. Revise.

And in full disclosure this is what I would like to help you with as my business. But this is about the FREE program.

Until today, my sermon consisted of this message: Social is easy to get started, and difficult to sustain, and maybe even more difficult to connect directly to “sales generated.” — from The Quick Course in Online Marketing

Today (and I haven’t even read the hubspot article yet) I have a new song.

1. Try; 2. Measure; 3. Revise.

Why not create a Facebook page and Twitter account? What can it hurt, really? Us social media strategists will tell you, “Without a plan, you are very unlikely to see results. And if you don’t measure those results against your business goals, you are very unlikely to know what is working or not.”

Hello. How about this.

Try something. Tweet a coupon on Friday morning and again on Friday afternoon for a Family Pizza Deal, DELIVERED. (Insert your business proposition.) Let it fly. Time spent: 5 minutes. Cost: ?? nominal. Sales: track them. ROI = anything you make from your deal or coupon.

Okay, so there’s a bit more to it. Like how do you get Twitter followers. Is there a plan for advertising on Facebook that makes sense for my business. And I am here to help with any of those.

BOTTOMLINE: If you don’t try it, you will never know. TRY IT.

1 large pizza’s sold as the result of a couple of minutes spent tweeting is a pretty damn good ROI. And you don’t need me or anyone else to get started down that path.

You are now welcome to go read the technical ways to measure your Twitter campaign from Hubspot, but I don’t think you need to. Just get started. And let me know if you have any results.

Caveat: If you “have” a marketing budget, we should probably talk about how social media can accelerate your sales and extend the reach of every marketing dollar you spend. But that’s another story.

@jmacofearth (also seen on Google+: jmacofearth)
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