Marketing and Branding (Part 2)

Gone are the days of social media being simply a means of communication. Social media has evolved into a business development tool and public relations platform for nearly all corporations or brands. Hustle Crew, in this part of our recurring blog series, we will look at why it’s essential to have and use social media, how the appropriate platforms should be selected, and the ways you can use social media to give your startup a leg up when it comes to social networks. Be sure to check out part 1 of our marketing and brand series here!

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Social media is a key tool that allows startups of all sizes to establish their online presence. From grand ad campaigns to simple, once-a-week Instagram stories, social media has something to offer for entrepreneurs and businesspeople alike. Social media posting is also (generally) not very expensive – so even with minimal budgets, entrepreneurs can groom their businesses, reach their intended target audiences, and start earning at their fingertips. Here are a few key reasons why social media is essential for startup businesses:

• Reach a global audience: Social media applications like Instagram or TikTok do not have geographical constraints. You can reach clients all over the world (or in your local community, if that’s what you prefer.)

• Create authentic engagement: You can create authentic content, respond with comments, share your business's stories, use polls to attract loyal followers, and more.

• Analyze in real-time: Social media platforms provide analytics for creators to help them understand growth rate, campaign effectiveness, audience activity, and engagement data.

A commonly heard statement is that social media is “low cost, high volume.” And it’s true – social media marketing is typically cheaper than conventional advertising. example, running an ad campaign on Facebook or Instagram may cost just $10 a day, but you get to reach hundreds of target customers. For startups, this cost-efficiency proves to be invaluable. You can implement organic posts and other types of content creation, which help your business expand its reach even more for free. That being said, if you’re looking to advertise on social media on a much more grand scale (with a higher budget, of course), there are various options for high-volume campaigns as well. More on campaign options later in the entry!

So just how popular is social media becoming? According to DataReportal, there were 5.22 billion active social media users worldwide at the start of October 2024, which equates to 63.8 percent of the total global population. Such massive growth underscores the importance of these platforms for business growth. The expansion of social media usage can be attributed to a multitude of factors, from the availability of smartphones to more mainstream internet access. The demand for online connectivity continues growing at a rapid pace today as the world’s digital age continues to evolve.

Each social media platform has its pros and cons, of course. However, your decision on which to use should depend on your individual requirements, audience, and business objectives. Here's a quick breakdown of the most popular social media platforms to help you find the best fit for your business:

• Facebook: Facebook is often regarded as the best platform for reaching out to the community and running ad promotions. It is most suitable for startup businesses as it can help you attract the public.

• Instagram: Instagram is appropriate especially when your business requires a detailed visual element expected by the target audience. You can use leads like reels, stories, and "shoppable" posts to help boost engagement and sales. Instagram’s traction has been increasing as of late, with younger demographics playing a key role in this.

• LinkedIn: LinkedIn is a network used by all sorts of professionals. Based on the specific content in each industry, startups that market to such an audience should turn to LinkedIn.

• TikTok: TikTok is perfect for short-form content and creative videos, especially ones that target younger generations including Gen Z and millennials. However, as with all online advertising, it's beneficial for brands that seek to emphasize humor, innovation, and the newest trends. (Fun fact: during the height of COVID, I managed to garner over 7 million views on TikTok! How? With gaming hashtags - they really are that powerful!)

• Twitter (now known as X): X is the social media platform for real-time information conveyance, customer care, and formal leadership. Many professional and governmental bodies use X as their primary media outlet. Startups can use it to communicate with key leaders and join ongoing global conversations. 

According to this Statista article, over 60% of Instagram users are below the age of 34. The user base of each social media platform is definitely something to keep in mind – it’s best to choose platforms where the desired audience is most active.

You can run different types of ads on all of the above social media platforms. Each ad type is unique in the ways that it can enhance a business, and each platform has unique features that will help you tailor campaigns to reach specific goals. Below is a quick overview of each platform’s advertising offerings in detail: 

• Facebook and Instagram Ads:

  • Photo Ads: These are suitable for showcasing your product in the best way possible by including persuasive images. They can be components of promoted (paid) ad campaigns.

  • Video Ads: Video ads are suitable to show off how to use the product or as a script for a short story. Similar to photo ads, they are often seen in promoted ad campaigns. 

  • Carousel ads: Carousel ads are what they sound like - a rotation of images. You can arrange an overview of the multiple products or various aspects of one product. This is perfect for catalogs or a product with many new features.

  • Stories and Reels (Instagram only): These help you gain short and catchy content for fast sales. Reels in particular are a great way to get many impressions at a low CPM (which we’ll discuss later!)

• LinkedIn:

  • Sponsored content: These use blogs, case studies, or whitepapers to promote relevant content. As the name suggests, businesses pay for this content to appear higher in user feeds.

  • InMail messages: This allows businesses to send messages directly to users' inboxes.

  • Dynamic ads: These include people-specific names, photos, and job titles in ads.

• TikTok:

  • In-feed ads: In-feed ads are displayed as the user scrolls through their for-you page. This allows for more exposure and a guarantee that viewers will at least see the ad. 

  • Branded hashtag challenges: These can be a great way to enhance user engagement and content production (This goes for all platforms! TikTok is just especially keen when it comes to hashtags.)

• Twitter (X):

  • Promoted tweets: These help to gain brand visibility for your most engaging posts. It will also allow paid ads to be shown to target demographics.

  • Promoted accounts: If you want to grow your follower base, this is your go-to option. The follow button will be right below your profile!

Conducting select ads seen above can lead to huge progress when it comes to reaching your goals. But conducting an ad campaign is just part of it - another important part (one that is often overlooked!) is measuring your success in reaching new customers and driving conversions. That's where your key metrics are going to come in handy. All platforms have creator tools (made free for business accounts!) that allow users to track statistics with just a few scrolls and taps.

Here are some key metrics to track:

• Engagement: Engagement includes likes, shares, comments, and saves on an individual post or ad. High engagement typically means your content has resonated with the target.

• Reach: Tells the number of new visitors who view your content. More leads means more prospects are attracted to your brand.

• Click-Through Rate (CTR): Follows the number of individuals who clicked your link after viewing the advertisement.

• Cost Per Mille (CPM): Cost per 1,000 impressions. It works best for campaigns that target creating brand awareness. This is especially useful for businesses to track the cost of an ad campaign on their end.

• Cost Per Click (CPC): The cost per each person who clicks on your ad. You are paying for only clicks rather than impressions.

• Conversion rate: Calculates the number of users who completed a particular action (for example, a purchasing activity or signing up for an email list.)

Instagram currently has a CPM of about $11.86 (source). That means you can get 1,000 impressions, or potential customers, for just under 12 bucks. Not a bad deal, huh? Image: Plann

Social media marketing benefits startups (and all companies!) by allowing them to grow to new heights. All creators need to do is set up their social media account and start growing by picking the correct type of ads and strategies. Social media can enable you to expand your business to a broad audience with the right plan and solid content. But remember, it’s not just about advertising; it’s about connection. Being seen within your local community, establishing the presence of your business, and gaining new customers can all be done with the help of a few clicks (or maybe a bit more than a few, but you get the point). With the right posts, you can increase brand awareness, gain customer feedback, or enhance customer experience by replying to queries and creating interactive stories. The possibilities really are endless. And as always, be sure to stay tuned for our next post, which will discuss the sourcing of vendors and strategies. For now, though, get to elevating that social media game, Hustle Crew!

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About the Author

Brandon Yeh is an entrepreneur and student who currently resides in the Bay Area. In addition to working on his latest business ventures, he enjoys playing golf competitively and is an avid Bay Area sports fan.