Social media is a fantastic way to market your business without spending a fortune. With the implementation of ad campaigns on sites like Twitter, Facebook, and more recently Linkedin even the smallest startup can throw their hat in the ring and try to get sales. I too decided to utilize this method when I started my business, Estwick Marketing. What I didn't know was that while social media can be a fantastic marketing tool, it can also have minimal yield if done incorrectly.
A friend once told me that the path to success was paved with mistakes. He didn't actually word it that way but that was the gist of what he was saying. Anyhow, you have to learn what not to do before you learn what you need to do. Here are the top three things I learned along the way while marketing my startup on social media:
Do your research: Find out where other businesses that are similar to yours are posting. If it's working for them, it will likely work for you. You won't be able to compete with the budget of larger businesses but if you find your competitive advantage or what sets you apart, you may be able to draw potential clients interested in using your services. Stay up to date on news that may affect how your business is run and how your demographic may respond.
Scout for opportunities: Don't get lost in the strategy that is working. Similarly to how an investor diversifies his or her portfolio by purchasing different stocks, bonds, etc., diversify your marketing efforts by constantly seeking new ways to be discovered by your desired audience. Using social media is great, but if you aren't supporting that strategy with additional marketing strategies, you will be placing all of your eggs in one basket and limiting your earning potential. Keeping metrics is a great way to determine where your campaigns are successful and where they leave much to be desired. Once you figure out where you are getting the most conversion ( from site to sale), then dump more money in what's working and pull back on what isn't. Always go where the money is.
A friend once told me that the path to success was paved with mistakes. He didn't actually word it that way but that was the gist of what he was saying. Anyhow, you have to learn what not to do before you learn what you need to do. Here are the top three things I learned along the way while marketing my startup on social media:
Scout for opportunities: Don't get lost in the strategy that is working. Similarly to how an investor diversifies his or her portfolio by purchasing different stocks, bonds, etc., diversify your marketing efforts by constantly seeking new ways to be discovered by your desired audience. Using social media is great, but if you aren't supporting that strategy with additional marketing strategies, you will be placing all of your eggs in one basket and limiting your earning potential. Keeping metrics is a great way to determine where your campaigns are successful and where they leave much to be desired. Once you figure out where you are getting the most conversion ( from site to sale), then dump more money in what's working and pull back on what isn't. Always go where the money is. 
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