Facebook Live can drive business to your restaurant or bar.
Want to add $36,600 in revenue to your business per year in 5 minutes per day?
Of course you do. How?
Do Facebook Live videos.
Okay, bear with me here.
Let's assume a live video video gets you on average about 1,000 or so views. So doing 5 of these per week will earn you 260,000 views per year. If 0.3% of these people come in once per year, we’re talking 780-800 people. Let's say you're a restaurant or bar. Assuming you average $25 per customer, we’re talking $19,500 in annual revenue. Boosting these posts with a targeted ad to your fans to double the audience costs $200 per month or $2400 per year. If you double the audience, you see a net revenue return of $36,600.
It's just a numbers game. If you can drive up the amount of people who are seeing your posts, then you'll drive more customers on average to your business.
(This is based on surveys that were done in June and July 2017 from Good Milkshake clients. Out of 210 surveyed, 4.7% of paying customers noted that they saw a Facebook Live video from the client in the past 6 months)
Facebook Live of me talking about how to increase revenue for your business using...Facebook Live. How meta, I know.
**This is a conservative estimate.** The nature of these videos is that if you're decent in them and they're of ok quality that provides VALUE to the person watching, you're going to get even more views. And then what if you also uploaded them to YouTube, your blog, Twitter, LinkedIn and Instagram stories? How much wider could you spread them? See where I'm going with this? Facebook wants to PRINT MONEY FOR YOU and you're complaining about it being too hard. But it's incredibly easy. You HAVE a smartphone, so it's the best thing you can do to consistently bring in more customers.
There's a whole strategy for how to make this work for a bar or restaurant. Which types of Facebook Live Videos work the best for restaurants or bars, for example? We'll explore that in a future post.
In the meantime, just get started. Do live videos and do them consistently.