From the course: Marketing on Facebook: Groups

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Monetizing groups

Monetizing groups

- [Instructor] You know that groups can do an amazing job of fostering community and promoting conversation. But can they be folded into a profitable business strategy? Many companies have figured out how to monetize groups so let's look at what works. Groups are very effective at warming up leads. Think about it. You're nurturing them all along the way with great free content and meaningful conversations. If groups are apart of your sales funnel, some of your members will turn into leads and some of those will turn into sales. The larger your group, the more sales you're going to get. First, you need to ensure that your group members are the target audience for your product. If they're not, they're not going to buy. Or maybe you need to adapt the product to this new buyer. Second, you need to have a plan for guiding your group members down the path of making the purchase. What will your stepping stones be? Maybe you start with free content of great value and then your funnel guides…

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