5 ways to use social media to attract investment
Attracting investors to your community can be a difficult, time-consuming task and will often require the ability to handle rejection without becoming discouraged. This is why it is essential to have an investment attraction strategy. The purpose of a strategy is to develop a strategic plan for attracting business investment (FDI or domestic inward investment) to your particular community.
Investment attraction is based on the attractiveness of various characteristics surrounding your community. These influencing factors differ by industry and investor preference, with some factors being more attractive than others. To maximize the benefits of your investment attraction strategy, pay attention to the needs of your community. This involves targeting investors whose objectives are aligned with the attractive aspects offered.
The right investment attraction strategy will provide you with the analysis, strategy, tools and action plan needed to attract suitable and desired investment opportunities in your region. Formalizing your community’s investment attraction strategy will help you set clear, achievable goals and develop policies and programs to achieve them.
Why should you use social media to attract investment?
Social media can be a powerful tool when integrated into your investment attraction strategy. The many platforms give you fast, engaging, and targeted low-cost options to market a community, get information, and communicate with potential investors.
Investment attraction is one of the most important economic development activities in your community, after all growth is not possible without investment. An important factor in any investment attraction strategy is being able to reach the right potential investors and hold their attention. With over 4.6 billion users, social media gives you access to the largest market of potential investors available.
Traditionally, in economic development, site selectors and investors have relied on each other to find investment opportunities, trusting word of mouth as the main source of information in the industry. Social media are helping to centralize word-of-mouth between professionals in the sector and are transforming traditional investment attraction practices. Social media gives you the opportunity to generate a two-way conversation with potential investors – something that differs from traditional investment attraction practices that relied on one-way communication mediums such as print, direct mail, advertising on radio and television. While these traditional practices tend to be powerful tools for educating potential investors in your community, they typically don’t generate the engagement between community and investor that social media provides.
How to use social media to attract investment
Social media can amplify your presence, showcase your strengths, increase your reach, and help you target the right potential investors for your community. If you know how to use them correctly and are willing to invest your time and energy in the right strategies, social media will be an essential tool for your investment attraction strategy.
Here are five ways ResearchFDI advises you to use social media to attract investment:
Set your goals and have a clear plan
To effectively use social media to attract investment, the purpose of your social media presence should reflect the targets and objectives of your strategy.
When setting your social media goals, here are three important questions you can ask yourself:
- What platforms are you going to focus on?
- There is no shortage of social media platforms you can use; however, it is important that you do not try to use more rigs than you can maintain and that you focus on the strengths of the rigs when deciding whether to use them.
- LinkedIn is the leading social networking platform for professionals. Since it is a professional network, it is the best choice for B2B social media marketing and it has been ranked as the best platform for generating leads by Forbes.
- Are you going to use paid social media ads?
- Paid social media includes content that brands pay to social media platforms to share with specific new target audiences who are likely to be interested, either by “boosting” their organic content or by designing unique advertisements.
- There are many types of paid social media ads and it’s important to find the one that’s right for you. Discover some of the Paid social media options that LinkedIn offers to its users.
- What is your content strategy?
- A content strategy involves planning, developing, and managing all the content you will share. When you set your goals and create a plan for your social media presence, you need to decide what you want to post and when. This strategy should take into account the platform you use, the goals you have and who/what you are targeting.
Create a brand online
Once you’ve defined your social media goals and made a plan for your online presence, you need to bring it to life and create your online profile. Your profile page will be the first thing potential investors will see and will also be how you are recognized on social media.
- Complete all profile fields.
- Include links to your website on your profile so it’s easily accessible.
- Include up-to-date contact information.
- Include any keywords that could be used to find you.
- Be consistent in your brand image across all your networks and content.
- Use high-quality images that follow the recommended sizes for the platform.
In the age of social media, it’s rare to find an organization without an online presence, so you need to stand out and be recognizable.
Grow your audience
The goal of building a social media presence is to grow your audience, but make sure your audience is made up of potential investors. By using social media, you have the opportunity to reach a wider audience of potential investors – and if done correctly, you can convert that audience into leads.
To attract investment, you must present the assets of your region to interested people. Identifying what you offer and targeting investors whose goals match yours is key, as some factors will be more attractive than others, depending on the industry. By using SEO keywords, you can target investors and make it easier for them to find you. You need to identify the keywords used by your target audience and incorporate them into your communications and social media presence in order to become more visible online.
Another way to grow your audience is to simply grow your network online. This is particularly relevant for LinkedIn. Your network on the platform consists of your 1st degree, 2nd degree and 3rd degree connections, as well as your followers and other members of your LinkedIn groups. You can achieve more relevant connections by interacting with your network and sending more connections.
Build a better network on LinkedIn can not only increase your audience, but you also have the ability to target a more specific audience built around the potential investors you are looking for.
Find leads in your audience
To market your community as a place to invest and generate interest, lead generation is an important part of any strategy. This involves identifying potential investors and communicating directly with them.
With the help of social media, you can amplify your lead generation efforts and identify potential investors who may be interested in your area. Once you start growing your social media following, you can use it to generate leads. You should focus on targeting potential investors who are interested in your community.
To generate social media leads, you and your employees must:
- Optimize your profiles.
- Make content clickable.
- Design friendly landing pages.
- Organize contests and sweepstakes.
- Host live videos.
- Run ads on social media.
- Organize virtual events or conferences on social networks.
- Organize AMA sessions (ask me anything).
- Propose targeted and personalized offers.
- Measure your data and analytics.
You can read the full ResearchFDI article at how to use social media to generate leads to learn more about these specific tips.
Monitor your engagement and track your goals
Finally, if you want to be successful in using social media to its full potential to attract investment, you need to watch your analytics. By monitoring your social media analytics, you can understand how effective your campaigns are, if your content is engaging your audience, and if what you’re doing is working.
Monitoring analytics will show you what’s working and what needs adjusting in your content strategy. You will be able to make small improvements in the short term and use the information to adjust your future strategies.
Google Analytics is free to set up and it will track leads on your website. You will be able to compare analytics between platforms and reassess the strengths of each. By monitoring your analytics, you will be able to gain insight into different metrics such as:
- Engagement Rate: This includes your likes, shares, and comments, and will show you if your content is interesting and engaging to your audience.
- Reach: This will show you how many people are viewing your content and help you understand which content has the greatest impact.
- Account mentions: This will show how many times your brand name has been mentioned by someone else. You can monitor this to see what is being said about you and use it to help maintain your brand reputation.
- Sentiment: This allows you to see how many users are talking about you compared to your competitors and understand where you stand in comparison.
Social media, when used correctly, can help you attract more potential investors than ever before. With billions of daily active users, social media is transforming the way we communicate globally. It can showcase your assets and increase your reach like never before, which can help you target the right potential investors for your community.
Now that you have a better understanding of how social media can be beneficial, you can start using social media to its full potential to attract investment.
Looking for even more advice on attracting investment? Visit the ResearchFDI website or arrange a consultation with one of our experts.