In this episode of “The Marketing Nerdz Podcast“, CEO “Karan Dharamsi” speaks about social media platforms, which platform should you focus on for your business and how to find the best social media strategy for your Business!
Is your Business in the B2B or B2C sector? Who are your end consumers and which social media platform is most used by them?
These are some of the most frequently asked and certainly important questions to understand which is the best social media strategy for your business.
However, there is no proven theory or scientific answer to this question. And in this Podcast, CEO “Karan Dharamsi” shares some insightful tips and strategies which will help you find the answer to this question.
So, wondering which social media strategy is the best for your business? Well, we have Karan Dharamsi share the answer to this question through his personal experience and analysis.
Here is what you need to do in order to frame the best social media strategy for your Business:
For any given business, be it B2B or B2C, the first and the most important step to build the best social media strategy is the start off with one single platform.
It’s always advisable to completely focus on that one platform where majority of your audience is and to completely dominate it with your awesome content.
This is because at the beginning, you would want to focus on understanding where majority of your audience is and what kind of content works the best for that particular platform.
At this stage, your focus should be on understanding the needs of your customers on that platforms and providing them with great content for the same.
And once you are done building a strong foundation on that one core platform, focus on the “one to many distribution strategy” to grow your followers across various social media platforms.
Hence, the second phase includes the distribution of the audience that you have collected through your primary platform.
Dominate one platform and distribute your followers to the other platforms through that!
Sharing his own experience with The Marketing Nerdz, Karan discusses how The Marketing Nerdz has Facebook as the primary social media platform through which the followers are then distributed to our other accounts on Twitter, Instagram, Snapchat etc.
To conclude, here is what you need to focus on to build the best social media strategy for your Business:
Start off with one platform
Dominate that platform with great content
Distribute your followers from that one platform to others
Move on to the next platform to dominate
Being present on all the social media platforms at the same time will require great content on all the platforms at the same time. And if the content is not great for the audience on each platform, you are risking your brand image.
But focusing on one single platform will help you come up with excellent content for your audience and that will improve your brand image.
So, don’t chase all the platforms at the risk of tarnishing your brand image.
Keep domination one platform at a time and focus on distributing your audience on all the other platforms.
That’s how you can evolve and dominate the most appropriate social media platform.
Dominate one social media platform at a time and follow the one to many distribution strategy to grow your social media followers effectively.
And once you are back with ocean full of information from the amazing podcast, here’s more on the #1 tool for writing great headlines:
Buzzsumo.com is the #1 Ninja tool which can be used to write really amazing headlines.
It helps you to further enhance your headlines and study other great headlines and content in your niche.
Giving an example of the fashion niche, Karan shares how this #1 tool for writing great headlines can be useful to you.
The first thing to do on this platform is to search for all the articles in your niche. And once you have a list of the great one’s model their headlines and study what’s actually working well in your industry.
You will get a great deal of valuable information in terms of what is working well with your target audience and how you can tweak and change some of the best working headline.
Once you have an idea of what kind of headlines and articles are getting the highest number of clicks, you too can create similar headlines with your own versions.
Not only for headlines, this tools is a great tool to plan your social media content too.
And to sum it up, here is the simple 3 step process you need to follow on how to use the #1 tool for writing great headlines:
Search for articles in your niche on Buzzsumo.com
Model the headlines and articles that have the highest engagement
Create your own headline using your own version and context
So, go ahead and use this magical tool to create great headlines and content for your brand that will get you potential customers to follow you and engage with you.
There is no standard rule for all when it comes to splitting your online marketing budget. It all boils down to the basics, the size of your company, and the nature of your company.
Everything about your company is what will play a major, major deciding factor. Thus it’s a completely subjective matter.
However, based on my personal experiences of starting and growing 6 different companies, here’s what I want to share with you seeking a full-proof solution to this ultimate question.
The answer to this question lies in balancing your budget between Branding and Direct response.
If you are a start-up and wish to grow and sustain your business, follow this one simple rule! In the initial stage, your focus should be on sales and only sales!
Think of ideas and strategies that will help you boost your sales. Do not let your time, money, energy and focus shift to branding or story-telling in the beginning!
Comparing your budget to the one’s set by huge players like Flipkart and Amazon will be the stupidest thing you can ever do. Understand this one major point, all these big companies have investors’ money, a safety net to fall back on.
Yes, branding and story-telling will make people aware about your brand, but it takes the act of sales further away.
What matters the most is to channelize your resources on generating direct response. And maybe along with that start building up on your story.
Focus on testing your product, your service, your market! You need a solid start that ensures a good amount of cash flow into your business.
SO HERE’S THE FORMULA:
1. IDEAL SPLIT FOR STARTUPS
If you are a start-up entrepreneur, use 90% of your budget for direct response and the other 10% on branding. Once you get on track and pick up the pace, you can change the numbers accordingly!
Using 90% of your budget on direct response will enable conversions and cash flow into your business. And thus later you can use that to increase your budget on branding.
2. IDEAL SPLIT FOR MID-SIZED COMPANIES
For a mid-sized company, split your budget into 70% for direct response and 30% for branding. At this stage, you will have made enough sales to add onto your story-telling bit.
3. IDEAL SPLIT FOR MILLION DOLLAR COMPANIES
And if you are a huge company like Amazon with billions of dollars of investor cash, go for 40% direct response and 60% branding.
People often ignore this little fact while competing with everyone around in the ultimate chase to success. And in no time, they experience a downfall.
Learning from my mistakes and experiences, I don’t want any of the other entrepreneurs and start-ups to take the wrong step that could hamper business growth.
So that’s the ultimate learning from this, the choice to make when it comes to branding v/s direct response when you are starting your business.
So go forward, and make those sales! MAKE IT HAPPEN, MAKE IT COUNT!