Strategizing, meeting budgets and timelines, finding partnerships, hiring and managing employees and expanding the customer base is constantly on the mind of any entrepreneur. Successful entrepreneurs typically set a concrete vision and make it happen, usually very quickly. The businesses that need reach and audience to execute that vision know that social media is where you should be focusing your marketing to get the biggest ROI and deep customer insight. All modern successful entrepreneurs will tell you that you need to be a serious technician, if not an expert, on social media networks to really stand out. Smart entrepreneurs that keep their finger on the pulse of social media, find no quicker or more valuable way to figure out what is happening in the marketplace and specifically with their own customers.
While most entrepreneurs know they need to spend time on social media, many will tell you that they lack the time to fully engage and invest in it. I hear this from clients and colleagues all the time and each time I challenge them that they need to adjust their priorities. First of all, you can’t afford not to invest the time. In today’s noisy, it’s basically business suicide to let others dictate your brand message or worse to have no brand message out there at all. Secondly, the SEO benefits from a strong social media presence, through sharing of your content can be worth more than you are spending in SEO now and it’s FREE. And let’s not forget that the networking opportunities found on social media can be very lucrative. The saying “your network is your net worth” is especially applicable on some forms of social media.
Let me make it easy on you and let you in on my top 5 entrepreneur social media networks that I share with all my clients. Master these and not only will you personally and professionally develop at an astonishing rate (if you don’t get squirrel syndrome and waste time), your business will reap incredible benefits.
Although this one is new, the potential is huge. And if you know anything about social media history, early adopters of any network tend to have the largest followings. InvestaSpace definitely provides more value in exchange for your time than any other, because it is specifically tailored for entrepreneurs, inventors and investors. It was designed and built by entrepreneurs and they appreciate that “time is money”, so there is no scrolling thru cat memes or Game of Thrones spoilers. And for those who need seed money, it has a growing database of investors looking for their next investment. It has a Facebook feel in terms of a timeline, but it has a much more robust profile building capability including native blog posts and audio files so you can upload things like podcasts. Investaspace has a “listings” platform which makes it simple for current entrepreneurs, inventors and investors to find each other. Their profile builder has too many cool features to list here that bring your profile to life, so you are going to have to go check it out yourself. The tools on InvestaSpace are also incredibly valuable to business owners such as InvestaVote, a voting platform to get feedback on your ideas; InvestaMeet a full featured video chat platform; InvestaCommerce, where businesses can list their products for sale; InvestaDeal, a group buy discounting platform similar to Groupon; InvestaVents, an event meeting booking platform for online and offline events and InvestaFund for crowdfunding.
Facebook is the #1 King of social media with 1.5 Billion active monthly users. Facebook is absolutely necessary for any entrepreneur because of the very simple ability to do highly targeted advertising at a very reasonable price. The social engagement is also very high on Facebook and they have continued to improve their product with the addition of Facebook Live video, which has a tremendous potential for businesses who use it wisely. Facebook is encouraging the use of video by giving those posts a “push” in the feeds, sometimes a 10X increase in engagement just by natively loading a video to Facebook or doing a Facebook live video.
Twitter is, by far, the biggest real time network out there. To know exactly what is happening at any given moment, Twitter is where it’s at. The reach of Twitter is insane with just a few clicks. And the super advanced search capabilities make it easy to build your audience in relevant and real ways. Twitter ads are still far too expensive but hopefully this will come in line with other networks soon or they will see themselves in trouble.
Known for it’s obvious job search and employer data mining platform for prospective employees, LinkedIn is valuable for networking and building business relationships globally in any field. The ability to have your resume and accomplishments online, to make connections and then extend that to 3rd party connections through their extensive database of business information is powerful. LinkedIn is a valuable business tool to get a read on what your peers are doing as well as your competition. As with all your social media, but especially on LinkedIn, make sure your profile is completely filled out and looks professional or it may just be more of a hinderance to your business than a benefit.
Instagram is the largest growing social media network today. With over 400 million active daily users, businesses are starting to take notice. In an article titled Email Marketers Invest In Social Media Ads For Greater ROI¹ published in Media Post, marketers planned to spend the most money in 2016 on Instagram #1 at 72%, Facebook #2 at 61%, Pinterest #3 at 41%, Snapchat #4 at 36% and Amazon #5 at 34%. Marketers know where the biggest ROI is and where the engagement is and Instagram is it. Instagram is more of a “behind the scenes” look where you can be more intimate and casual but yet the engagement with the users on Instagram is very high. This more intimate and personal conversation is what makes Instagram so important to your business.
- Nelson, Jess, Mediapost.com “Email Marketers Invest In Social Media Ads For Greater ROI” October, 2015