How can my new business make the best use of social media?

I have set up a Twitter and Facebook presence for my new business, but I’m unsure what approach to take. Should I communicate offers and promotions? If so, what’s the most effective way of doing this?

Social media starts and ends with the consumer, so I’d start by listening to existing conversations in your category. Conduct a comprehensive competitor analysis to understand best practice and identify any unique opportunities.

A competitor analysis will also help you get an understanding of how to balance your content. A recent survey found that 40% of people interact with brands via social media because of retail offers and freebies.

But there are creative ways you can reward your customers without cheapening your brand.

Ask for feedback and make sure you act on it. Involving consumers in the brand-building process will make them feel important.

If you give them opportunities to invest in your brand, suddenly you have created an emotional connection. This is worth more than any number of coupons.

Social media is consumer driven. Understand what consumers want and you will have the key to creating a successful branded discussion online.