Bure Valley Group is an investment introducer platform which links successful investors with exciting, innovative UK startups seeking funding. This content is for information purposes only and should not be taken as financial or investment advice.
Social media can be a double-edged sword, especially for startups. It can open up immense opportunities for marketing, amplifying a brand’s voice beyond its immediate contacts. Conversely, it can easily become a large sunk cost in time, money and effort if not used prudently. In this post, we offer eight tips to help startups (and their investors) navigate social media marketing confidently in 2024.
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#1 Identify the target audience
A viable startup will have a clearly defined customer segment (or group of segments) that it wishes to target with its value proposition(s). Knowing their demographics and psychographics will be crucial for tailoring the right message on social media platforms.
For instance, what is the typical age, income, gender and job description of the target audience? What are their primary interests, hopes, fears and aspirations? Consider drawing up some buyer personas to describe these key traits, then tailor your social media content accordingly (e.g. long-form posts, gifs and videos).
#2 Choose the right platform
Where does your target audience congregate online? Where do they socialise in the digital space, and where do they get their news and information about products and services?
For instance, it makes little sense to concentrate on Facebook marketing when your audience spends most of its social media time on LinkedIn. Here, it will help to thoroughly research the market so the choice of platform(s) is grounded in solid data.
#3 Focus on quality content
All of us are bombarded by digital communications in 2024. Social media ads, unsolicited sales emails and promotional SMS messages can easily overwhelm many consumers. To earn their attention, you need to offer great value – asking for little in return.
This is where social media (done well) can truly shine. Think creatively about how you could provide useful information, entertainment or insights which consumers struggle to find elsewhere. Media forms might include blog posts, videos and infographics.
#4 Be consistently engaged
Social media is designed to be just that – social. Avoid the temptation to simply post your content and then walk away. Take time to talk to your followers, engaging with them regularly. Respond to comments. Thank people for their “re-posts” or “shares”.
None of this effort goes to waste. It sends a strong signal that your brand cares about its audience, wanting to build trust and relationships. Consider setting up an alert system so your team is notified when important replies, likes or comments come in – so you can respond fast.
#5 Use influencers
Other social media profiles will already be further ahead in their brand reach and authority. When you have build up your own online brand to a decent level, consider reaching out to influential accounts in your industry to see if you can get in front of their audiences.
For instance, perhaps your startup founder could feature as a guest on a popular podcast or YouTube channel. Maybe you could write a guest blog post for a website which is frequented by people in your target audience. In some cases, influencers may even promote your product.
#6 Monitor your analytics
Data will be crucial to give you insight into what is happening on your social media profiles. Analytics tracking codes can help you identify trends, such as whether a YouTube channel is growing. It can reveal which topics are popular or not for blog posts.
However, do not simply track your performance – use the data to inform strategic marketing decisions. For example, if you are getting significantly more engagement for specific topics, consider adjusting your content calendar to focus more on those.
#7 Utilise user-generated content
One of the best ways to build trust in your products or services is to highlight people who are already using them, broadcasting their stories. This provides social proof to your audience, bestowing greater confidence that your solutions actually work!
User-generated content can help relieve some of the internal stress of a startup’s content production. It can also extend the reach of your audience. For instance, a TikTok demonstration of a startup’s app could help a startup to go viral (if the stars align!).
#8 Use ads carefully
Startups are usually reluctant (with good reason) to spend significant sums on Facebook Ads, Google Ads and similar platforms. Budgets are often constrained, and key stakeholders may wonder whether paying for ads is worth it if brand exposure can be gained organically.
Here, it can help to “test” different ads using a small budget to see what works. If a campaign generates sales that justify the spend, then it may be worth increasing the investment to increase the volumes.
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