Question

Topic: Advertising/PR

Opinions On My New Social Media Marketing Startup

Posted by joeclarkvideo10 on 9/1/2017 at 3:39 AM ET 25 Points
Hello,

A friend of mine recommended this board as a place to get some feedback on a new website (app coming soon) startup I just launched the other day.
It's a small business social media marketing website to trade shoutouts with other users on Instagram and Twitter (Facebook coming soon). I know there are buy/sell shoutout sites out there but there are none where you can trade for free.
Please help me out.

I'd really appreciate any constructive criticism from you guys.
Thank you!
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RESPONSES

  • Posted by Jay Hamilton-Roth on 9/1/2017 at 7:58 AM Accepted
    It's not clear to me:

    1) Who specifically is likely to use your website/app and why.
    2) How you'll make money from this endeavor.
    3) How you'll attract people to your website/app and keep them coming back.

    Do you have a marketing strategy/plan? If not, start there.
  • Posted by Gary Bloomer on 9/1/2017 at 7:16 PM Member
    Got a link?
  • Posted by matthewmnex on 9/1/2017 at 8:43 PM Accepted
    I suggest that you run a lean canvas beforeninvesting alot of time and money. You need to have a clear vision of your business model. In simole terms; where is the revenue going to come from? Ifnyou can answer that, and the potential is significant, then you may have an idea worth pursuing. Good luck
  • Posted by Gary Bloomer on 9/2/2017 at 9:05 AM Accepted
    How will you generate revenue with this venture?
  • Posted by telemoxie on 9/3/2017 at 10:15 AM Accepted
    I'd like to push back a bit against the advice that you need to need to know how to make money from the venture before you start. Yes, it was that way in the 1950s, when you need to have a plan so that you could solicit capital for land and raw materials and equipment.

    But today, things are different. I am not an expert on Facebook. But I have heard that it began, not from a business plan, but by some university students pursuing a different agenda. Amazon.com lost money for several years.

    If you are trying to raise money from third parties, or if you have already raised money from third parties, then certainly you should do your research and tried to find a path to profitability and profits. But if you do not have or want investors, I would recommend that you start by trying to identify the problem you are solving, focus on the best way to solve that problem, and see what you learn as you go. Good luck.
  • Posted by Shelley Ryan on 10/11/2017 at 3:56 PM Moderator
    Hi Everyone,

    I am closing this question since there hasn't been much recent activity.

    Thanks for participating!

    Shelley
    MarketingProfs
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