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  • Writer's pictureLauren Malone I Guest Blog

GUEST BLOG: How Your Money Mindset Could Be Blocking You from Using Social Media Effectively 💰📲

Delighted to bring you this month's guest blog written by Lauren Malone, a money mindset coach and mentor on a mission to transform how entrepreneurs feel about money.


Money Mindset and Social Media


#socialmedia has become an invaluable tool for business growth and brand visibility. From start-ups to well-established enterprises, businesses of all sizes are leveraging these platforms to connect with their target audience, showcase products or services, and drive sales. However, despite its immense potential, many entrepreneurs find themselves struggling to unlock the full power of social media. Surprisingly, the root of this issue often lies not in the strategies or tactics employed, but rather in their underlying #moneymindset.

Your money mindset plays a crucial role in how you approach various aspects of your business, and social media is no exception. Let's delve into some ways your money mindset could potentially hinder your effective use of social media to grow your business:


1. Fear of Investment


One common money mindset roadblock is the fear of spending money on advertising or professional services to enhance your social media presence. This fear can lead to a reluctance to invest in paid promotions or hire experts who can optimise your social media strategy. Consequently, your business might miss out on reaching a wider audience and generating higher returns.


2. Scarcity Mentality


If you view money as scarce and hard to come by, you might resist allocating a budget for social media marketing. This scarcity #mindset could limit your ability to run targeted ads, collaborate with influencers, or experiment with new content formats, all of which require financial investment.


3. Undervaluing Your Offerings


Of course I was going to talk about pricing in a blog about money mindset! A negative money mindset can lead to under pricing your products or services, which can subsequently affect your social media strategy. If you're not confident in the value you provide, you may struggle to convey your offerings' value effectively on social platforms, hindering your ability to attract and convert customers.


4. Reluctance to include Calls to Action


Providing valuable content on social media is an excellent way to engage your audience and establish authority. However, if you're hesitant to #monetise this content through calls-to-action, you might miss out on opportunities to drive traffic to your website, capture leads and make sales.


5. Comparisonitus


Constantly comparing your business's social media metrics to those of others (particularly businesses doing something similar to you) can bring feelings of inadequacy and unworthiness. This comparison trap may prevent you from celebrating your own successes and adapting your strategy to suit your unique business values, mission and goals.


6. Lack of Consistency


A scarcity mindset can also manifest as inconsistent posting on social media. If you fear running out of content ideas or worry that your efforts won't yield immediate results, you might struggle to maintain a regular posting schedule, which can negatively impact audience #engagement and growth.


You’ve got this far and you're nodding away, it all makes sense doesn’t it? But now you know your money mindset is getting in the way of an effective social media strategy, what can you do to change it?



1. Identify Your Beliefs


Begin by identifying any negative beliefs you hold about money and your business. Awareness is the first step towards transformation. Journaling or working with a coach is great for this.


2. Educate Yourself


Invest time in learning about social media marketing and the various strategies that can help your business succeed online. A growth mindset embraces learning as a pathway to success.


3. Seek Abundance


Cultivate an abundance mindset by focusing on opportunities, possibilities, and the potential for growth. There is enough success and wealth to go around.


4. Value Your Offerings


Price your products or services in alignment with their value. When you believe in the worth of what you offer, you will confidently promote and sell on social media.


5. Celebrate Milestones


Instead of comparing yourself to others, celebrate your own achievements, no matter how small. This positive reinforcement (woo, dopamine!) will fuel your motivation and dedication.


6. Set a Realistic Budget


Allocate a portion of your #budget specifically for social media marketing. View it as an investment rather than an expense and get help if you’re unsure.


By addressing and transforming your money mindset, you can unlock the true potential of social media for your business. Embrace the idea that your financial beliefs and attitudes play a significant role in your social media success. As you work on aligning your mindset with your goals, you'll likely find that your social media efforts become more focused, strategic, and ultimately more effective in driving your business forward.


Ready to take the first step towards transforming your money mindset? Download Lauren's free eBook: 9 Immediate Actions to Manifest More Money and gain insights and practical tips on shifting your financial perspective and unlocking new opportunities for business growth.


Remember, your mindset is a powerful tool that can either propel you forward or hold you back. Choose growth, abundance, and a positive money mindset to supercharge your social media strategy and lead your business towards unprecedented success.


Lauren Malone is a money mindset coach and mentor on a mission to transform how entrepreneurs feel about money and make us all wealthy! She is an author, BBC resident mindset expert and the host of the 'Well I F*cked That Up' podcast. Learn more about Lauren and the work she does on her website and connect with her on Instagram for more tips and inspiration.





I'm on the hunt for more guest blogs! Would you like to write for my website? Please email me.. laura@bbcreative.co.uk with your suggestions! Look forward to reading :)

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3 Comments


Guest
Aug 23, 2023

Great article

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Guest
Aug 18, 2023

I think if you set a realistic budget that feels comfortable for you, then the benefits of having somebody help with social media make sense. It’s something I’d rather not do myself so thank you for this advice.

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Guest
Aug 17, 2023

Really helpful tips!

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