Initially developed for connecting with your friends and loved ones, social media is now used for much more. You will find numerous articles on social media. But most of them focus on how it is reinventing the digital marketing landscape—only a few talk about how it can help you save actual money. Yes, you read that right. Scrolling through social media does not only have to kill your time. You can make the screen time worth it by saving money on social media.
Making the Most of Marketplaces
Social media marketplaces can help find the best deals on used stuff. Facebook Marketplace is one such option where you can find or sell used things in your locality. So, next time when you need an electronic device or furniture for your home, pay a visit to the Facebook Marketplace and use social media to save money. But, you might need to beware of scammers.
Facebook Marketplace has 1 billion users, and not all of them are genuine buyers or sellers. A lot of fraudsters have set up their stores on Facebook. You can easily come across scammers who offer counterfeit items, request advance payments, create fake accounts, etc. Hence, before using it, you need to learn about the common Facebook Marketplace scams to avoid the pitfalls.
Avail off Discounts Posted on Social Media
Imagine you are passing by your favorite coffee shop, and you find a 15% discount coupon on your next latte for your next visit. That would be great, right? Many brands have started leveraging social media for advertising due to benefits like tracking ROI, hyper-targeting, and building an audience. Hence, finding discount coupons from your favorite stores should not be surprising.
You can follow your favorite brands on social media to get and avail of such coupons. It can also serve as an alternative to signing up for newsletters. Besides following the brands, you can also follow specific bloggers who find and post about these discount coupons.
Learn Doing Things on Your Own
While some tasks are best left for professionals, there are many things you can do all by yourself. Do-it-yourself (DIY) projects like basic home decor, Halloween costumes, life hacks, etc., can save you a lot of money. Pinterest has become the go-to option to look up DIY ideas. No matter what you want to do, you are most likely to find several DIY ideas you can use to achieve results. Thus, you can use Pinterest or other social media sites to save money.
Get Financial Tips
You can think of social media as a constantly updating news site. While several finance sites give you tips, reading through lots of information at once can be hectic. Social media can be the perfect blend for entertainment and education. Thus, you can find financial tips in small pieces that are easy to digest and implement. You can follow individual advisors or pages of news sites or companies.
Besides following the advisors, you can also read reviews on different products and services. Almost everyone reads reviews before making a purchase. In 2021, nearly 70% of digital shoppers read around 1 to 6 reviews before buying something. Many shoppers write reviews about their experience with a product on social media. You can use this information to avoid spending money on wrong purchases.
Leverage on Recommendation Incentives
Many businesses incentivize users to refer their brand to someone else. This is usually done to reach an ideal audience and promote word-of-mouth marketing. You would have usually come across such referral deals on applications, but several brands use social media to promote their referral programs.
You can find information about these referral programs on posts or companys’ bio sections. You can share it with others once you come across any referral program. If someone uses your referral code to register with the company or make a purchase, you can get exclusive discounts, cashback, etc., based on the company’s offer.
One of the common ways through which you might come across a referral program on social media is paid ads. Many brands leverage paid ads to promote the ads of their referral programs to build a database of ideal customers.
Social media is no longer just a way to browse your friends’ stories and pass the time. There are several more ways to use social media to save money and make scrolling through screens productive. From finding the best deals to buying and selling used things to DIY ideas, there’s so much you can do with the help of social media. Hence, next time you explore some stories and posts on social media, don’t miss out on these easy ways to save money.