How Startups Can Maximize Their Revenues Using Social Media

Today, the growing importance of social media platforms cannot be overlooked. Even in individual terms, the popular social media sites like Facebook, Twitter, and YouTube are engaging people like never before, leave alone businesses. Especially, startups need to leave no stone unturned as far as interaction with people on different social media platforms is concerned.

According to a survey conducted by Cone Business in Social Media Study way back in 2008, 93 percent people believed that a business should have a presence in social media. The study further showed 85 percent people felt that a company should interact with its customers through social media. 56 percent people surveyed expected a strong communication along with better presence.

These statistics clearly suggest that there is a strong case for startups to maximize their earnings via social media. In addition to devising unique and innovative studies, startups can utilize simple techniques that can help them convert their social followers into genuine customers.

Here are some powerful ways that startups can innovate along with social strategy in order to increase their revenues:

  1. Starting a stronger engagement

Social media is increasingly becoming a perfect channel for engaging the audience. There are many ways of doing this – asking them questions and allowing them to provide their feedbacks. These steps are just as important as making them feel appreciated for their efforts. This stronger engagement allows startups to increase their brand awareness. It is an organic approach in which startups have to post and distribute content as well as advertise and disseminate information for lead generation. In order to make a more productive interaction, engaging a professional writer can work wonders for engaging their readers. Many professionals who are involved in writing a dissertation can start interaction with users in intelligent ways because they are good at research.

  1. Following customers, clients, and competitors

Social media platforms pave a unique opportunity for startups to follow their customers, clients as well as competitors. The online interaction with the audience provides relevant data that helps in targeting influencers who value startups’ products or services. Social media platforms also help startups to communicate with external stakeholders who are also associated with the audiences’ social profiles. It is a productive strategy to follow clients by observing their interaction with other competitors. In this way startups can gauge as to what strategy is being formed on the part of their competitors.

  1. Performing social media optimization

Essentially any startup interacts with its audience via its website and its business’s success depends on a lot on how the website is being utilized by the visitors. Which is why, social media optimization (SMO) is instrumental for the success of a startup. For example, since people use social recommendation for buying products online; SMO will provide a proper optimization of for various posts (text, audio, and video) so that it will encourage the purchase of products or services.

  1. Using social media management tools

It is a fact that social media has considerably changed the interaction between brands and their customers. Therefore, it becomes pertinent for startups to use social media management tools for even better communication. There are various software tools that businesses can use to become more productive. These tools can help startups in monitoring, responding, measuring and collaborating to ensure smarter and faster communication. Sometimes managing and running social media accounts becomes an overwhelming exercise because businesses have to create content, schedule shares, engage followers and conduct community management. Some of the important tools that are widely used for social media management are – HootSuite, Buffer, IFTTT, SproutSocial etc.

  1. Providing customer service through social channels

Social media platforms provide an unprecedented opportunity to address their customers’ concerns publicly. Since, the customer service comes in the public domain; companies have to focus more on positive public conversations in order to gain positive public remarks. Though the stakes are high, but the returns are even better. This is the reason as to why more and more customers are choosing social media for customer service. Because they expect a fast response, so if complaints weren’t quickly rectified, the proposition becomes very costly for any startup. However, if a positive customer service is provided publicly, it in turn makes a strong positive impression.

Wrap Up

Because of the above five reasons and many others, social media is being seen as a lifeline for businesses, particularly for startups. Today, fans and followers are more likely to convert their visits into business’s revenues. Therefore, in no uncertain terms social media offers visibility, outreach and engagement with potential customers in order to maximize their earnings.

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Puru Singh

Puran Singh has been actively involved in SEO and Internet marketing since 2008. Puru Singh knowledge and experience have made him one of the most respected and referenced SEO's in the industry and his passion for innovation and growth has led his company, Internet Marketing Ninjas, to become one of the world's leading online marketing firms. His areas of interest are SEO and Digital Marketing, online advertising, health and fitness, business, marketing and travel ideas, mobile tech, politics, and world news.

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