Reading social media like a newspaper for your startup's audience research

Reading social media like a newspaper for your startup's audience research

Social media marketing is a great way to help launch your startup. It’s cheap and effective -- if you have a strategy. Fostering effective social media strategies means you’ll need to master the basics of social media research and communication.

We, at LFS, want to help #startups raise capital as well as grow the company in the most efficient and effective manner. While advising the startup we advise a lot on how to effectively use social media as a marketing tool to grow your #business.

1.   Do your market research

Before you start blasting out social media updates, you need to do your homework. Random acts of marketing will waste your time and your money. Social media marketing for startups requires a nuanced approach. Before delving into the wild world of social media marketing, do extensive research on your audience.

2.   Find out which platforms your audience is using

Conducting market research will help you refine your marketing goals.

Important metrics you should be keeping account of:

• The location of your target market

• The online behaviors of your target market

• How long they spend on the internet

• Which social media platforms they use

• How often they use social media.

Instead of signing up for every social media platform, find out which platforms your customers use most. It’s a far better use of your marketing dollars

3.   Use the same handle for every platform

Consistency is important. Using the same handle for every platform will make it much easier to find and follow you. If you use different handles, it can confuse your target market. You want to make your brand identity crystal clear and as strong as a diamond.

4.   Create a high-level social media marketing plan

Draft a marketing plan for each platform based on your research. Set weekly and monthly goals such as acquiring ten new followers, expanding your reach by three percent, or communicating with twenty potential customers.

We, at LFS, want to help startups raise capital as well as grow the company in the most efficient and effective manner. While advising the startup we advise a lot on how to effectively use social media as a marketing tool to grow your business.

About Devansh Lakhani

Director of Lakhani Financial Services, and a Chartered Accountant, he helps start-ups raise funds from his network of investors. He guides and advises start-ups to scale up by providing efficient sales, marketing, team building, and business management strategies. He has executed fundraising by block deals on the stock exchange and conducted IPOs and right issues on the SME platform to the tune of over Rs. 50 Crore. He is currently working with start-ups from various sectors to help them channelize their business models and investments.