Reddit: The American web-based content platform, news aggregation site, and discussion platform is brilliant for sparking conversation and networking with the global community. With over 8 million views every month, Reddit has a thriving online community. Entrepreneurs can harness this popularity to widen their scope and boost business. Reddit can also be a marketer's dream if used effectively.
Here we explore Reddit in greater detail and examine how entrepreneurs can use the site to their advantage.
So, what is Reddit, and how can entrepreneurs make the most of it?
Reddit comprises user-created sub-forums or message boards, covering a plethora of topics from business and entrepreneurship to relationships, science, and religion. Reddit members, also known as Redditors, can upload posts, images, links, and videos, which other members up-rate or down-rate. Redditors can freely engage with each other under posts, thus sparking conversation and debate.
In the broader sense, Reddit is ultimately an online networking platform whereby users can network and engage on various topics. With over 230 million users, it is a brilliant space to widen one's scope, especially in the realm of entrepreneurship and marketing.
While often overlooked in the realm of business, the social site has a myriad of advantages for those looking to broaden their business horizons. Those looking to enhance their business scope can utilize the site as a critical marketing tool. Whatever you want to research and explore, a sub-category is probably available on the site.
When it comes to entrepreneurship, there is much insight to be gleaned from Reddit, and many people utilize the site to bolster their business credentials. Much like other social sites, it is essential to retain professionalism and active engagement to glean the benefits.
An entrepreneur, defined.
It's essential to think about entrepreneurship before getting into the nitty-gritty of what a Reddit entrepreneur is and how business folk use the site to magnify their brand. At its simplest, an entrepreneur is a person who sets up a business, despite the risks involved and with the end goal of yielding profit.
Entrepreneurship is often about pushing the envelope and innovating in your specific field to charter undiscovered territories and bring something new to the market. As a revered entrepreneur and industrial designer, Steve Jobs once shared of entrepreneurs:
“We're here to put a dent in the universe. Otherwise, why else even be here?”
Entrepreneurship is about innovation and putting a so-called dent in the market, even with risk potential. In the digital age, there are many avenues through which to advertise one's products or services. Reddit is one such space.
So, how can an entrepreneur use Reddit to their advantage, and what is a Reddit entrepreneur? Let's explore how entrepreneurs can use Reddit to their advantage and how to avoid certain pitfalls that might unfold.
Reddit can offer entrepreneurs some valuable insights and information, including:
- Gleaning answers from their target market/consumer about what they want
- Understanding the latest trends
- Gaining insight into particular niches (cooking, fitness, fashion, tech, etc.)
- Engaging and networking with other entrepreneurs
However, this needs to be done with care in mind. Reddit thrives on anonymity, and actively and explicitly marketing your brand will probably not get you the exposure you want. However, there are some proper ways to build your brand, and if done correctly, Reddit can boost credibility.
How can Reddit entrepreneurs use the platform to their advantage?
Since Reddit is all about community and conversation, blatant marketing might not work so well. So, how does an entrepreneur enhance their brand and use Reddit to their advantage without seeming gimmicky and eroding trust? Here are the best ways.
1. Invest in paid advertising on Reddit
An excellent way for entrepreneurs to use Reddit to their advantage is to invest in paid advertising. Target individuals based on the subreddits that they subscribe to. For example, if you have a fitness clothing brand, you will likely target subreddits related to fitness.
It is, however, worth noting that Reddit charges on a cost per impression basis rather than cost per click (like Facebook). Paid advertising is transparent and will promote your brand without seeming inauthentic.
2. Promote deals carefully, in the right subreddits
While direct marketing is sometimes a no-no, you can find subreddits where people are on the lookout for great deals. One such subreddit is r/deals. Find savvy shoppers and those who are looking for a great bargain and use this passion to your advantage.
3. Monitor the site for customer feedback
Redditors might use the site to air their grievances or thoughts on companies big and small. As such, it is well worth checking if you have any mentions on the site and then using this to communicate with clients and rectify any issues.
Excellent customer service is key to success and can boost your business. You can also use the site for market research, scouting the latest trends, and customer desires.
4. Post engaging content that relates to your business
Spark discussions and engagement by posting fascinating content that links to your brand. Many entrepreneurs are intrinsically connected to their brand, and by posting authentic stories about your experiences and life, you can get your message across authentically, all the while building connections.
5. Use Reddit Entrepreneur and other relevant subreddits
Most entrepreneurs know the importance of networking and building connections. The subreddit r/entrepreneur is a fantastic way to keep your finger on the pulse with innovations in entrepreneurship and connect with like-minded individuals who are looking to expand their network and clientele.
Ask questions, glean advice, and spark conversation. Entrepreneurs might enjoy:
Keep track of Reddit engagement with an online management tool.
When entrepreneurs want to use Reddit to their advantage, investment is critical. Utilizing a business management platform like Indy is a great way to keep track of projects and tasks, plot posts, and track engagement.
The platform has a complete suite offering nine tools essential for freelancers and small business owners, including invoicing, contracts, proposals, time tracking, online calendar, and more.
Savvy organization skills are key to successful entrepreneurship, especially in boosting your business digitally through Reddit.