There’s been a lot of growth when it comes to social media penetration. A lot of people have gotten to know more about social channels and how to use them.

Social media has become a common platform where almost everybody reaches their potential clients and other stakeholders. your activities on social media yields either high or low response rate. Response rate is the number of people who respond to your social media activities. The response rate can be explained mathematically – it is simply the perceived value divided by risk. This means if you are getting a low response on your social media activities, then the perceived value of that post is low and the risk is high. But if the perceived value is high then the response rate will also be high. Perceived value is how the prospect perceives your product or service. It has to be high for him or her to respond.

How to Increase Perceived Value

• Give out free things. Let your prospects try something for free. When you do free things, it’s perceived as the risk is on you that in itself pushes the value up.
• Give two or more products for one price. For instance; buy one get one free. These are ways to get people’s attention. Getting attention is the first principle of business.
• Packaging multiple complementary products. Bundle your products, this means you are increasing your perceived value.
• Get people to talk about your product. This is called social proof. People who have used and experienced your product or service can give testimony on how they have enjoyed your product or service.
• Describe in detail the benefit of your product/service. This communication has to be clear and if possible don’t hide your prices, let it be seen.

How to Decrease Risk – This is the risk for the customer or prospect.

• The person has to know that, the risk on him/her is low. If the person doesn’t feel like that, he/she will not buy your product.
• Provide a very strong guarantee possible. What is the proof that your product will work? Give a warranty for your product.
• Provide a try before you buy it. Once people try it and realize it good, they will come in for it.
• Allow Pay on delivery. This helps in reducing the risk.