The term ‘entrepreneurship’ was coined by Jean Baptiste Say. Entrepreneurship has become one of the most sought after pursuits as it is about building sustainable businesses. A sustainable business is all about creating a brand that connects with target audiences both intellectually and emotionally. Any serious entrepreneur worth his/her salt will thus be excited at the thought of building sustainable businesses. Having run from pillar to post trying my hands at various social media marketing tools, I am excited to put down my compendious thoughts on ‘How to build a sustainable business with social media marketing?’
- Identify your social media platforms: Whether it is students studying in colleges or budding entrepreneurs refining and fine-tuning their ideas, it is not uncommon to find many people pinning their hopes on popular social media platforms. However, there is an inherent trap in this. If your venture is into B2B category, and if your venture is particularly an early stage startup, it is best to use LinkedIn. On the contrary, if your early stage venture is into B2C category, you may aggressively leverage Facebook, Twitter, Pinterest etc. Want to experience gravity defying momentum? Run a tight ship when it comes to maintain blogs.
- Identify your target audiences: Segment your target markets. Want to know the various segmentations? Here are the various segments:
- Geographic segmentation: Segmentation on the basis of area
- Demographic segmentation: Segmentation based on age, gender, education etc.
- Sociographic segmentation: Segmentation based on sociological factors such as cultural influences, influence of social class, influence of reference groups etc.
- Psychographic segmentation: Segmentation based on life style and personality.
- Behavioral segmentation: Segmentation based on product-usage rate, user status, loyalty status, buying motives etc.
- Market research: It can be broadly categorized into qualitative research and quantitative research. Quantitative research is all about gathering numerical data from each and every participant. This data is processed, added, and compared to identify trends. Qualitative research involves asking more in-depth questions that can be interpreted. Results are all the more subjective.
- Engagement audiences: I suggest you to read my write up ‘Innovative email subject lines’ and ‘Creative campaigns.’ When it comes to email marketing campaigns, follow the principles of email etiquette. These tools may come handy.
- Results tracking: First calculate if your ROI is decent. Subsequently, focus on fine-tuning your campaigns to yield better results. Reach out to us if you have any concerns. We are here to help you in your sincere endeavors. Drop a comment or two in the comments section.
Keep reading our blogs for insights….Cheers!