Influence is the New Online Currency, Check Out Why

Influence is the New Online Currency and Technology is Key

Influence is the New Online Currency and Technology is Key If you’re not focussed on building influence online, you’re missing out on a lot of revenue.

This article is going to convince you about the importance of building influence and it will outline why technology is a key part of building influence.

Influence is the new online currency. Build influence and build profitClick To Tweet

What do I mean by building influence?

Do you ever wonder why some people share an article online and then 1,000 other people share it? (or maybe 20,000 like this)

Rebekah Raddice
Rebekah got over 20,000 shares on this post

 

Is it because the article is amazing and is much better than yours?

Maybe, but not always (Rebekah’s content is awesome!)

You certainly need to have good-quality content…

…but, as you build influence online, people share the article because you are influential and you built up your authority over time.

This happens with individuals and with websites.

I often see high-profile websites publish poor-quality articles and get a lot of shares and traffic.

Here are four signs that you are influential online:

a) The Domain Authority of your website is high

Moz analyzes websites and ranks them out of 100.  There are many factors that contribute to this number but one of the most important is the number of links back to your website.

If you have a high degree of authority, your Domain Authority is going to be high (e.g. above 50).

High domain authority = high traffic
High domain authority = high traffic

 

This means it’s very likely that a lot of high authority websites linked back to you.  They linked to you because you are influential and you created good content.

b) You start on a new channel and get lots of new followers straight away

This is a true sign of influence.  Imagine if you decide to jump on Periscope (live streaming app) and, within a week, you have a few hundred followers.

That’s because you have built influence on other platforms so it’s easy to build influence on a new one.

c) You drive action on any channel you share content on

When you share content on Twitter, Facebook or other channels, do you get attention?

This means likes, shares, comments and link clicks to your website.

Influential people get attention.

d) Are people buying your products and services?

This is the influence that really matters.

Are people buying a product/service you offer because of the reputation you have?

Conversion Fly is a tracking tool to track activity, such as sales, on your website. You create tracking links across multiple channels and, when visitors come to your website, what they do is recorded (e.g. buy a product, buy an upsell etc).

Todd Browne is one of the founders of Conversion Fly and he is very well known in the marketing funnel automation space.  So, when he launched a beta of the product, 300 people signed up straight away at $50 per month.

Before…

… anyone even tested the product

Before…

… any testimonials about the product were available.

That, my friends, is influence.

Here’s what you see when you go to the Conversionfly website.

second beta
Beta closed!

 

You want some of this action!

 

How does technology help?

To build influence online, you need to build your marketing engine.

Your engine consists of content, process and technology.

We have a framework called PRISM.  You feed in content, process and technology to build your PRISM

PRISM Method from RazorSocial

P = People, you build an audience

R = Relationships

I = Inbound traffic

S = Subscribers and Social retargeting

M = Monetization.

Without technology and a good framework your engine won’t go too far.

 

Here are four ways that technology can help ensure you have a Ferrari instead of a Mini:

a) Social media tools

Social media is great for building relationships and relationships are a key part of influence.

It can also be a good driver of traffic to your website, where you can build sales.

But you need to be organized and efficient.

You need to have tools to help build your audience, manage interactions, track influencers etc.

With these in place, you’ll waste less time on social media.

b) Marketing automation tools

When you implement a content marketing strategy, you start driving lots of traffic to your website.

But… traffic is a vanity metric.

You want sales.

If you want sales, you’ll need to build up some marketing automation.  This is because people need to be convinced, over time, to buy your products and services, and this means delivering more content to them.

A drip campaign is where you send content over a period of time with the ultimate goal of getting a sale.

Not automating some of these campaigns is like working in a factory with no machines.

c) Content creation tools

You will need some tools to help create content.  For example, you’ll need a platform like WordPress.  You’ll need image-creation tools like Canva.  You’ll need video-creation tools like Screenflow.

Content is very time consuming so you need tools to help make it easier.

d) Analytics tools

When you do all the work, you’ll need to measure the results.  You’ll want answers to questions such as:

  1. Am I wasting or investing time on social media?
  2. What traffic is converting and what isn’t?
  3. How engaged are my audience on social, email etc.?
  4. How much am I making – Average transaction value, average lifetime value of a customer etc.?

Influence is the new online currency.

You build influence in your niche and you generate more money.

Influence is the new online currency, build influence, build sales.Click To Tweet

It takes time to build influence but it’s worth it!

How do you measure and build influence online?

 

Image courtesy of Shutterstock

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