Sreejita Talukdar, Content Writer, Siliconindia

Social media is the breeding ground of numerous small businesses, which get their identity and a vast market to play around in order to focus on their target audience. In today’s world, social media became a strong bridge between the startup and its potential users. It opens a door of opportunities through different channels of marketing such as video marketing, influencer marketing, and mobile based social media marketing.

These tactics and channels have boosted the confidence and evolved into legitimate ways for brands to reach their customers to generate income. It is undeniably true that, India is one of the hottest grounds for startup eco-system. It stands at the 3rd largest startup ecosystem in the world. In just a few years we have seen a sea change in the business world due to awakening of startups through social media, which made a gigantic impact globally. Social media provides startups with a platform to reach a large, global audience, which is essential for building brand awareness and establishing a strong online presence.

Impact of Social Media on Startup Life Cycle

Young visionaries with their coding expertise and global ambitions scripted India’s maiden and iconic startup success story. As per the reports, till May 2023 over 99,000 startups officially recognized by the government, with nearly half of them headquartered in Tier II & III cities.

Social media with its fostering growth has revolutionized the way people are operating their business. Social media has become one of the trusted and widely loved medium of marketing for entrepreneurs and startupreneurs because it offers cost-effective options for advertising for startups in contrast with traditional media like television, newspaper or radio.

By creating engaging and interactive content, startups can win the confidence of the customers to comment, like, and share their posts, expanding their reach organically. It also provides a direct line of communication which offers the startups invaluable opportunities to gather feedback, address customer concerns, and continuously improve their offerings.

Besides knowing your customers well in advance, social media also proved to be the most powerful medium to keep a sharp eye on the competitors, which in turn helps them to know about their strategies, product offerings, and customer interactions. It also gives a vast sky to know the recent trends and shows them the most effective way to adapt them.