Building The Right Social Media Marketing For Startups Strategy

Social media marketing for startups poses hindrance to success because of many different variables going on at business's front. If you are a business owner looking to scale in near future, here's a kick-ass strategy to help you outperform the competition in the long run.

Social media plays a key role in marketing any business over the last few decades.

Brand awareness, content, leads, and conversion rates are no longer what they used to be; social media has definitely changed these aspects for the better. Put simply, to set yourself apart from your competitors you need to integrate social media marketing into your overall digital marketing campaign.

Thus, the social media marketing strategy for startups should follow the same rule. Its importance can be seen by the fact that over 45% of the global population is using at least one social media platform. If you still have some doubts about its importance, here are some stats:

1. Out of 11 different sources, social networks were found to be the biggest source of consumer inspiration.

2. 37% of people found purchasing inspiration through social media.

3. 21% of people are more likely to buy from brands with an active social media presence.

Have a Social Media Marketing Strategy For Startups That Works

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After reading the importance of social marketing for startups and how businesses use social media for marketing, it’s time to have a plan that actually works for your startup. For starters, you need to know that social media marketing doesn’t only require you to be present online but to also keep track and analyze all the time.

On that note, the following plan is to be taken as a flexible guideline. Feel free to improvise because you know your business better than anyone else out there. After all, those companies that strive to adopt new patterns and business strategies have a higher success rate, as opposed to resilient businesses.

Also Read: Doers Empire’s Analysis of ‘Why Nokia Failed’

5 Kick Ass Tips on Social Media Marketing Strategy for Startups!

If you’re attempting to form a social media marketing strategy for a startup that you have built from the ground up, the following tips will take you a long way.

1. Research Your Competition

To make a solid plan, you must research the industry, the market, and the competition first.

a. Doing Hashtag Searches

You should start by conducting hashtag research once you have identified your competitors.

As an essential part of the content strategy, it is a way to group your content online for everyone. The only way to do hashtag research is by monitoring social media marketing strategies for startups of all sizes. This will help you get a better insight, inspiring you to create better content and set standards for your startup.

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Look up hashtags for your startup – some of them can be inspired by your competitors too – and use hashtag tracking tools to know how well or not they are doing digitally.

“You must be able to track your hashtags. Knowing which hashtags are popular, drive people to find your content, and get them talking is essential to your social strategy.

b. See Which Brands Your Competition Is Collaborating With

As the saying goes, ‘keep your friends close and your enemies…’ You know it all too well. A competitive analysis is needed if you plan on standing out. If you don’t know what your competitors don’t offer, how else will you offer it to your clients and break their clientele?

Speaking of competitors, there are mainly two types of competitors: direct and indirect competitors.

A direct competitor is someone who is offering the same product/service and targeting the same audience as well. On the other hand, an indirect competitor is one who sells a similar product/service but targets a different sector of the audience or vice versa.

A word of advice, ‘find as many direct and indirect competitors as possible to better understand who you’re up against.’

c. Checking Competitors’ Engagement Levels

Assessing your competitors’ online presence is the next step in the list. Evaluate how functional their websites are, and how often they engage with their customers or audiences.

Check their reviews and talk to their customers to get a better sense of the discourse around their startup. This will give you a fair idea of how receptive the market is to your business and what actually works for your customers and what doesn’t.

d. Keeping Tabs On Social Media Mentions

At all times, know what your competitor is doing but remember one thing, don’t stalk them using a company social media profile.

You don’t want to think or know that you are keeping tabs on them when you most definitely are. There is also another saying that goes a little like this, “learn from other people’s mistakes”. A startup is a perfect opportunity for you to learn from other people’s mistakes. The way to go about is by keeping tabs on them.

2. What’s Your Business’s Target Audience?

Setting the ideal audience right off the bat is the only way to make any plan you plan and implement effectively.

a. Conduct Audience Segmentation Research

For that, you must do detailed target audience research and create buyer personas.

It is absolutely necessary to assess them based on their occupation, gender, age, hobbies, interests, etc. Doing so will allow you to easily deliver an authentic customer experience, boosting sales. To further choose your target audience, you must conduct audience segmentation research.

But what is audience segmentation? A marketing strategy based on identifying subgroups within the target audience in order to deliver more tailored messaging for stronger connections. It makes your marketing strategies more personalized and lets you tailor messages according to each audience segment.

Likewise, you can focus on a specific need with each group to drive up conversion rates and build relationships based on loyalty.

The next step to take is to create buyer personas that represent your ideal customer which can include where someone works, if or not they are married, and what interests them. Creating these personas can help you grow closer to your clients as you will be communicating with them on their level.

3. Create a Goal Or a Broad Spectrum Plan

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Having done all the research, the next thing you must do is outline your own goals. The list can be as long as you want it to be – that doesn’t matter. What matters is that you must divide them into two lists: short-term and long-term goals.

While short-term goals are goals that you will need to fulfill in a time period under a year or even less; the long-term goals can be planned indefinitely far ahead in the future.

Remember, your goals need to be S.M.A.R.TSpecific, Measurable, Attainable, Relevant, & Time-bound. So, instead of vanity metrics such as the number of Facebook likes or Twitter followers, you should focus on the metrics that matter that drive more traffic, web referrals, and higher conversion rates.

a. Setting Up Realistic Short-Term Milestones

When you’re making goals for your startup, use the S.M.A.R.T approach i.e., Specific, Measurable, Attainable, Relevant, and Timely. So instead of setting goals that are too broad, set goals that are specific with achievable attributes like the ability to be measured with a defined objective and timeframe.

b. Creating Your KPIs & Sticking To Them

<Literally, like those KPI’s owe you money!>

Speaking of the ability to be measured, once you have outlined your goals, you must know how you’re going to keep a track of each goal.

The way to do it is through social media key performance indicators (KPIs). They are measurable metrics that reflect social media performance and prove social’s ROI for a business.

Put another way, tracking specific numbers allows your social team to ensure its social strategy is connecting with the target audience and that your brand is achieving its business goals.

It is an effective way of knowing if your social media marketing strategy for startups is working or not. Like your goals, your KPIs need to be S.M.A.R.T as well as it will make it easier for you to commit to your goals and compile a performance report for your boss.

While setting your KPIs, know that you will have to make them for each social media campaign and channel and track them. With time, they will be subject to change as well so don’t think of them as a one-time job, rather as an ongoing job.

The most important part is choosing what you measure with your KPIs. The ideal measures are quantifiable metrics and leading indicators that align with the goals of your startup. While in the former case, it will often be sales and leads; in the latter case, it is a signal of where the economy is headed.

c. Social Media Marketing for Startups’ Metrics

A social media metric is an analytics measure used to determine the performance of a company’s or individual’s social media activity. Marketers use social media monitoring software as a tool to observe activity on social platforms and gather information about how users are engaging with your brand online.

Social media marketing metrics are highly valued in the world of marketing as well, as they let you measure the performance of your social media campaigns. Some of the best social media marketing metrics to follow are given below:

1) Likes

2) Engagement

3) Followers’ growth

4) Traffic conversions

5) Social interactions

6) Social sentiment

7) Social visitor goals

8) Social shares

9) Web visitors from social channel

10) Social visitors conversion rates

4. Social Media Marketing Strategy For Startups | Which Platform Is Right For Your Business?

From a sea of social media marketing platforms, we are only going to focus on a few here, namely Facebook, Twitter, and Instagram.

a. Facebook

As the social media network with the largest audience, Facebook remains the main focus of many social media marketing strategies.

i. Total Number of Users

With 2.74 billion people using the platform, 57% of which is male, it is the most popular amongst people in the age range of 25-34.

ii. Audience Engagement Levels

According to research, each user on Facebook spends around 34 minutes per day on the platform.

Also, almost 80% of people who use Facebook, use it on their mobile phones and not laptops or desktops. While Facebook Stories may seem like a useless option to many, it is being used by 500 million people daily.

Likewise, 1.3 billion people use Facebook Messenger and 1.8 billion people use Facebook Groups. The social media platform is used for all various reasons but the top two are to discover new music and to get news.

b. Twitter

As an open network geared towards conversations via short messages, Twitter is famous for introducing hashtags to the world.

i. Total Number of Users

With 335 million people on Twitter, it is the most famous with females with about 62% and people in the age group 15-34.

 ii. Audience Engagement Levels

The all-industry median benchmark for Twitter engagement rate per Tweet is 0.045%. This has been a consistent number for three years in a row. Moreover, the Twitter frequency decreased in tweeting by 10% last year and so, the current median is 0.77 tweets per day across all industries.

c. Instagram

Out of all, Instagram takes the trophy for being the best visual content sharing social media marketing platform. It initiated influencer marketing and the world has never been the same ever since.

i. Total Number of Users

After Facebook, Instagram just might be the most popular social media marketing platform out there with about 1 billion people using it. Again, females use the app much more than males with 68%. Moreover, Instagram is mostly used by people in the age group 18-42.

ii. Audience Engagement Levels

Out of the 1 billion monthly active users, 500 million of them use Instagram Stories. The median benchmark for engagement rate per post is 1.22% – irrespective of the industry.

This is considerably less by a whopping 23% since 2019. Instagram’s two most effective content types are posts (78%) and stories (73%), especially in the case of influencer marketing.

5. Creating Your Content Marketing Strategy

How businesses do their social media marketing should tell you something about how well they are doing as a business.

That’s all the more reason to stick with a value-added content marketing strategy. Plus, at the end of the day, it turns a lot of heads. If you know, what we mean…

a. Setting Up Your Content Calendar

A content calendar is a written schedule of when and where you will publish your planned content.

It is so important to be included in a marketing strategy that without it would be pretty much like riding a bicycle with only one wheel – in total and utter chaos. It is beneficial because it keeps things organized while allowing you to collaborate with your team. It also helps you envision the complete picture.

b. Delivering Relevant Data/ Posts To Your Audience Through Value-Driven Content

It is finally time to create the content you have planned and made a calendar around.

It is crucial to stay on-brand at all times and to create content that is of high quality and value. When you’re providing people with content they know you by, relate to, and find value in; then, my friend, you have accomplished the art of making an effective content marketing strategy.

c. Blog Collaborations With Authority Sites

Lastly, there is some magic in blog collaborations that happens when brands and blogs collaborate for content creation or some campaign. This can come in the form of blogs, interviews, reviews, etc. The possibilities are limitless. The magic comes in the numbers of increased brand awareness, sales, and much more!

Conclusion

Understanding social media is no easy task. It takes a lot longer in some instances when people have to struggle to figure out the answers.

However, we hope that this post, somehow, made that journey a little bit easier for you. Don’t forget: learn from others but don’t lose yourself in the process. Instead, use every opportunity to stand out and help your audience/customers.

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