Social media is often recommended as THE thing to do for startups. But they usually forget to say why. Non-social media people often see the different social media channels just as places where people share silly things about their lives and random cat videos. And with that, they fail to understand what an amazing tool social media can be. That’s why I’m going to share with you 7 reasons social media is a must for startups.
One of the harsh truths of being a startup entrepreneur is that no matter how cool your idea is, that alone isn’t enough. Some entrepreneurs believe that as long as their solution is good the customers will just somehow appear. But that’s just not how it works (shocking, I know). It is not just once or twice when the much worse solution has taken over the market (take for example the case of VHS). You need to get your startup in the minds of the buyers, how else would they know that your product/service even exists? And as a startup, you have to do that without having the budget of a commercial giant. That is where social media comes in. But it is not only that! The benefits of social media start even much before you have even launched. Read on to find out how.
Just having a cool startup isn’t enough. Customers won’t just magically appear: you need to let them know you even exist! Tweet about it!
1. Reach the right people
For getting your startups into the eyes and hearts of people, social media is one of the best ways. That is because most social media channels have amazing targeting tools. That means you can get the content you want in front of the people that are most likely to be interested in it. That means you are not wasting your time and effort on people who have zero potential of being your customers.
The reason social media targeting so great is that it goes way beyond just age, gender and other basic things like that. Every now and then there are articles about how social media channels know everything about their users. And I mean everything. That is usually told as a gruesome horror story, but for marketers: that means paradise. The more you know about your customers and potential customers, the more precisely you are able to target them. Be it their interests, the languages they speak, where to go on a holiday and so on and so forth. And the best part is: you can do it all for a very low cost!
2. Get most bang for your buck
Social media gives you the most bang for your buck. In fact, you might not even have to spend a dime and can still get amazing results! Though usually, you have to put a little bit of money in, especially at the beginning. What is a little bit of money? Often people think that means thousands of euros, but that’s not true. You can get a lot done with couple hundred or even just tens of euros. Sounds too good to be true, huh?
Almost all social media channels make money on ads. But at the same time, ads are exactly what the users don’t want to see. At least if the ads are not relevant to them. Relevant posts and ads, on the other hand, usually bring value to the user. And happy users makes the social media channels happy and they want to encourage the advertisers to keep making their users happy. In short: the better you target your ads, the cheaper it is going to be. So, in the end it’s not about how much money you have, but how you use it. And thus social media levels the playing field with big corporations with endless marketing budgets.
Social media levels marketing for startups – no need for a big corporation’s marketing budget to reach amazing results. Tweet about it!
3. Differentiate and show how cool you really are
The competition is getting more and more heated pretty much no matter what industry you are in. Social media is a great way to differentiate yourself from your competitors. Show who you truly are. What are your values. And why you’re so cool in general. No matter how much we try to think we make our decisions rationally, it is still emotions that play a big role in it. People like to buy from companies that have authentic personalities, companies that just feel good. Social media is an excellent tool to show them exactly that.
Doing social media is also a great way to get positive news about you to the internet, so you don’t have to really on others’ posts (which by the way, might never come). Not only does it help your startup to get know, but when people actually search for you, there is already something good out there.
4. Bypass people’s mental adblockers
Over time we learn to be more and more suspicious about the information we see in ads. ”Of course they would say so, it’s their product. It just can’t be that good in reality”, we think. But in social media, your ads & other posts can look just like the posts your customers’ friends & the people they follow have posted. That again means their mental adblockers are off, and they are much more receptive to your awesomeness.
Another thing is that people go to social media to have fun. They are looking for something to entertain them, something to help them pass a bit of time. And if you do your social media stuff well, that something can easily be the posts (and even ads!) you make. That means your marketing and sales efforts are not seeing as a nuisance, but something they get value from. And that’s a huge difference to traditional advertising!
5. Provide A++ customer service & increase customer loyalty
Social media is a great way to provide A+ customer service. For example, Twitter & Facebook have become THE way to interact and get help quickly from companies (read this post for inspiration). By interacting with your customers and being social you are shedding the image of a faceless corporation and giving them a good feeling about you. And again: it’s all about the feel. When someone has gotten a good feeling about your company through for example talking with you on Facebook, they are much more likely to choose your product over your competitors.
It also pays off long term. Brands that are active on social media will have more loyal customers. Good feeling about you -> they are much more likely to keep buying from you.
Being active on social media – recipe for customer loyalty! Tweet about it!
Here is another kicker: social media can be an amazing help for you way before you even launch your startup!
6. Get people excited about you before you even launch
Most of the startups I have been working with assume they should start doing social media after they have launched their product/service. But that is completely not true! The best possible problem is having people get excited and ready to buy your product/service before its launch. Take for example Dropbox, who had hundreds of thousands of people on the waiting list (read more here), and thus much smoother start when they finally did launch. So, you should definitely start acing your social media game as soon as you can.
Another bonus is that you learn what works and what doesn’t for your startup and its customers. Especially if you are new in using social media for businesses, starting early gives you time to learn before its too late. Also, the same things don’t necessarily work for all businesses, so you should try and test what are the best ways to use the channels for you.
7. Understand your market better & adjust accordingly
When you engage with your potential customers on social media, you start to understand their needs better. You will see if your idea is really worth pursuing or if you should adjust it a bit, pivot, or just scrap it all together. As people talk about their lives and their interests quite freely on social media, you will also get to see a rare glimpse into their lives. And that again helps see how your solution would fit in there. You can do also a lot of great spy work on your competitors! ;)
Any important benefits I missed? There definitely are plenty more! Share in the comments or tweet @ or @. In my next post, I will go more in depth about how to actually rule in social media. See you there! :)