4 ms·
When my last startup was struggling to hit our growth goals after closing our series A round, I started formulating a theory: You can build pretty much any busi
by rsweeney21 7y ago
When my last startup was struggling to hit our growth goals after closing our series A round, I started formulating a theory: You can build pretty much any business if you have a large following on social media. I started thinking about this when someone told me that Tesla has no marketing budget and relies completely on Twitter and PR form Elon Musk.
So I decided to give it a try with my new startup. We setup ad campaigns to ensure we had a traditional marketing channel that we could scale and then I started posting on LinkedIn. The results have been mind blowing. In 7 months I went form 1,000 followers to over 30,000 followers[0]. I was just named #4 in LinkedIn's Top Voices for 2019 for Software Development.
A single post that goes viral on LinkedIn can generate $500,000-$2M in new sales opportunities for us and it costs us nothing. By developing a social media presence, we've been able to grow our company to $2M in annualized revenue (we aren't SaaS, so it's not ARR) without any outside funding. And we are profitable.
So yeah, I think LinkedIn is pretty great.
[0] Me: https://www.linkedin.com/in/rsweeney21/ https://www.linkedin.com/in/rsweeney21/
Shameless plug for our new startup: https://www.facetdev.com/ https://www.facetdev.com/
- ryeguy_24 7y agoEnjoyed reading this. How much did you have to spend on your initial ad campaign (or was that solely through content creation)? On a quick test I found the CPC and CPM rates to be insanely high especially if you target highly paid people.
- rsweeney21 7y agoWe started testing paid ads on LinkedIn and Facebook. We spent about $500/month to test. Just to clarify, this was to find customers for our product/service, not to acquire followers. Growing social media followers was only through making posts on LinkedIn. I started by accepting every connection I received. In month 5 I switch the default "Connect" button in my profile to follow because I was at 20,000 connections. LinkedIn has a max of 30K connections.