MAXIMIZING THE POTENTIAL OF SOCIAL MEDIA FOR STARTUPS

Over the past few years, an interesting transformation has occurred in the business world. Social media has become less of an optional marketing opportunity and more of a priority. In fact, social media platforms have become integral parts of brand awareness, content distribution, lead generation, and customer acquisition strategies for businesses. This is especially true for startups working with smaller budgets and mass campaigns. However, despite its importance, very few startups and new ventures understand how to maximize the potential of social media.

There is an incredible burden on startups to maximize marketing dollars without compromising quality. It's a fine line, and one that not every entrepreneur understands. On one side, you're being told you won't succeed unless consumers know your products and services exist. On the other, you understand that you don't have a large budget for spending. However, somewhere in the middle there is a sweet spot that should allow you to reach a large audience with a conservative budget.

Over the years, that sweet spot has changed, but the concept has remained the same. Word-of-mouth marketing has always been a startup's best chance of success when working with a limited budget. Thankfully, the internet has significantly accelerated the pace at which word-of-mouth marketing takes place. Specifically, social media has made it possible for small startup businesses to reach millions of consumers with the click of a button.

Here are a few tips to get the most out of social media:

Choose the Right Social Media Networks

Startups tend to choose the social media networks they engage on without much strategy. The two most common mistakes are trying to master every network and trying to master certain networks just because the competition is doing it. If all of your competitors are on Facebook, Twitter and LinkedIn, you should be too, right? Maybe, but maybe not.

Facebook, Twitter, LinkedIn, Tumblr, Reddit, Pinterest and Instagram, are some of the most popular social networks today. All of them can be great content promotion and community building tools, but they all have unique characteristics. Facebook, for example, is typically powered by your existing customers who enjoy visual posts like pictures and video. Twitter, on the other hand, is often powered by potential customers who respond well to links.

Each social network ‘works’ differently, as in, how the community takes, interprets and digests your sharing and content varies. Reddit is often referred to as a very guarded network and detests spammers. Unlike twitter, here you can’t just schedule various messages every day. The content you share in Reddit has to be specific and unique to the categories you choose. Reddit, like other networks, requires a slower approach. Be mindful of the network and community you are trying to reach, it may not be in the social space you first thought.

Tip: Consider the demographic of the social network itself. Take Tumblr, for example. Tumblr caters to a young, laid-back audience that loves sharing inspiring quotes and funny pictures. If you’re targeting this audience, don’t spend your time on LinkedIn.

Use a Keyword List

When it comes to social media, you’ll use your keyword list to maximize your engagement efforts. The easiest way to do this is to use a social networking management tool. That way you can setup search streams of your core keywords. Make sure to use your keyword list to help target any online ads you may be running.

Use an Influencer List

One of the best marketing techniques online is to influence the influencer. It will take a long time for your startup to develop a highly influential relationship with thousands of people. Instead, focus on connecting with the people who already have that influence.

Build your influencer list with a bit of market research. Start by finding popular blogs in the space. Who writes for those blogs? Who owns them? Search for your core keywords on Twitter. Who appears in the results? Who are they following? Journalists and community leaders are great influencers as well.

Set Up a Blog

Setting up a blog can be quite simple. It’s a matter of downloading the software, uploading it to your server and following the setup instructions. Once the back-end of your blog is ready to go, think about how it how your design looks. Ask a professional designer to help you design your blog. Then invite ten friends to check out the design and offer feedback. Remember, design is important as it relates to user experience, but it shouldn’t be all consuming. Your blog is about publishing really great content, at the right time to the right people. Your design should simply enhance that experience.