According to a story at Mashable, for startups, the amount of money you have to burn before you either need to break even or raise more capital is your runway.
Extending the length of that runway is an art form that requires startup founders to learn how to squeeze maximum value out of every dollar they spend. Social media is one important way that startups are saving money while still delivering value.
“We have no outside investment. That means we’re bootstrapping right now,” said Jack Benoff, Director of Marketing at Zugara, which last year went back into “startup mode” to create their own augmented reality software. “Social media has given startups the ability to market themselves in a way that wouldn’t have been possible before. Sure, it takes a commitment (in time), but the hard costs are minimal. It allows us to focus our financial resources on production, research and development, and sales, which is huge for us.”
Here are four ways that startups are using social media for real results.
1. Customer Service
2. Building Community
3. Product Marketing
4. Staying Organized
Photo by sqback.