The purpose of launching the social media platform was to connect people with their friends and family who live all over the world. However, over the years, the use and purpose of social media platforms has evolved.
Social media platforms are now an outlet for brands and startups to spread awareness of their products and services, thus growing their business. Companies likeAnd And Make great use of the power of social media to keep their customers engaged and coming back for more.
to me Hootsuite Social Media Marketing and DashboardOne in two users on Instagram uses the platform to discover new brands, and 44 percent of users use it to shop weekly.
To put this in context, as of January of this year, Instagram 1.386 billion users on its platform. Thus, the platform provides a great opportunity for Small and Medium Businesses (SMBs) to create buzz and connect with their users in a more personal way.
While startups rely on social media to increase interaction with their customers, when it comes to founders, there are two different schools of thought. Some entrepreneurs believe that social media has lost its essence and will only result in a waste of time and energy, while others believe that if leveraged properly, social media has a lot of power.
For this week’s article on Entrepreneurship 101We focus on the latter – a team of entrepreneurs who believe it is essential to have a strong social media presence.
Which platform to choose?
With a number of options available today, choosing the right channel and platform can be overwhelming for a business. While LinkedIn can be great for networking and hiring new talent, Instagram and Twitter are great channels for connecting with customers on a more personal level. However, being equally active on all social media platforms can be a challenging and time-consuming task. To put an end to this dilemma, your story They asked startup founders what their preferred platform is.
to Alok Metalfounder of online lending platform Indifi Technologies, LinkedIn has proven to be an important path to hire some of the best talent in Indifi Technologies.
“Over the years, we have been able to grow strong networks for both Indifi and its leaders on LinkedIn with a cadence of meaningful and continuous content. It provides a layer of personalization while interacting with potential talent,” he says. As the founder of a startup, Alok has used the platform to field what he calls, “some of the best recruits.”
Additionally, Alok suggests that LinkedIn is an important point of contact for stakeholders to discover his brand and content, “and is designed to translate our vision, mission, and ambitions to potential talent, partners, and sibling peers,” he said.
No matter how difficult it is, Aditya KumarCo-founder and CEO of fintech startupAnd Sandeban MitraCo-founder and CEO of a food technology startup active on all four major social media platforms – LinkedIn, Twitter, Facebook and Instagram.
Use of social media at work
Social media is a powerful marketing tool for businesses. in the first half of 2021, In-app spending on social apps jumped 50 percent to reach $3.2 billion. A report by App Annie notes that there has been a 50 percent year-over-year increase in in-app purchases. These stats clearly indicate that entrepreneurs can use social media to increase their brand reach and loyalty.
However, besides these immediate benefits, social media offers other hidden advantages to startups and entrepreneurs – keeping up with industry trends, networking, reaching investors, and recruiting talent. For example, Sandipan mainly uses social media to Track conversations and topics that interest him, share key updates related to his startup, and share his thoughts on entrepreneurship and the food and beverage industry in general.
In fact, Alok has been somewhat lucky with his use of social media. “I have found social media to be a really effective tool for communicating throughout my career journey,” he says. Alok met his co-founder Siddharth Mahnot Through a social media post he made seven years ago on Facebook. A chance social encounter led to the start of the startup.
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LinkedIn has proven to be an important path for some of the best talent in Indifi Technologies. “Over the years, we have been able to grow strong networks for both Indifi and its leaders on LinkedIn with a cadence of meaningful and continuous content. It provides a layer of personalization while interacting with potential talent. As a founder, I have used the platform to personally prepare some of the best recruits.”
For B2B2C Financial Services, Niro, Instagram and Facebook Forms Tools Start-up to reach end customers, build trust, awareness, and brand recall. On the other hand, founder Aditya finds LinkedIn and Twitter more satisfying and can be found quite frequently.
As an early stage startup, these two platforms provide great ways to research a brand, gain early adopters, and advocate for a startup’s mission.
“I’ve been active on LinkedIn for the longest time. It’s incredible to connect, recruit, and lead thought. Aditya uses Twitter as a community resource group. It’s a great platform for sharing and consuming ideas, insights, trends and developments across ecosystems and consumer groups,” he says.
A summary of the above
With the outbreak of the COVID-19 pandemic bringing all one-on-one meetings and physical encounters to a halt, platforms like LinkedIn, Instagram and Twitter have proven important for the Indian startup community not only for networking, but also for collaboration. “There is a huge advantage in promoting a social media presence for founders and start-ups alike, considering where their niche audience is,” says Alok.
While Aditya himself is active across social media platforms and believes there is an advantage in having social media as a founder, he is of the opinion that founders do not have to be on social media.
“As founders, each of us has a different journey and personality. Depending on the individual’s goals, stakeholders, and the stage the business is at – there are multiple ways to achieve the founder’s ambitions with or without social media. I have personally known successful entrepreneurs and thought leaders without any presence on Social media and vice versa.
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