A few articles back we introduced the young social network Empire Avenue. If you haven’t read that article yet this might be a good time to take a few minutes to go read it. If you don’t have the time to read that article that’s okay too. Empire Avenue is a virtual stock market, a network that allows you to invest in your friends, family, favorite brands and strangers. In this article we are going to go into a little more depth on how to effectively use the network to grow your business. Here are three major roles Empire Avenue can hold in your social media efforts.
One of the most powerful tools of Empire Avenue is the ability to send a message to all of your Shareholders (similar to Friends, Connections, Followers, etc) at once. An Empire Avenue user becomes a Shareholder by purchasing your stock, either because they are interested in your brand or because your stock price and dividends are a good investment. At the time that we are writing this email Social Brothers’ has 186 Shareholders, this means that every time we send a Shareholder message we are sending an email to 186 different people. This creates an opportunity to introduce, educate and get to know a wide number of potential clients with one simple email. By using this feature you are given the opportunity to grow awareness about your brand or even direct your Shareholders to a 3rd party website. Use Shareholder messages to provide value to your readers and as an opportunity to get to know, educate and create relationships out of your Shareholders.
Just like any other network Empire Avenue has created Communities (similar to Groups) where like minded users can gather and connect. By joining and being active in Communities that your target market is going to spend their time you are able to connect directly with your audience. In order to build these relationships you will need to consistently answer questions, post questions and share relevant information with the Community via Community Discusses. This tool will allow you to position yourself as an expert in your industry, making you the go to individual or brand when questions, products or services are needed. You are able to join as many Communities as you desire and it is recommended to join more than one. However do not spread yourself so thin that you’re not able to be active in any one Community. The key to success when using Empire Avenue’s Communities is being active in them on a daily basis by answering questions, posting questions, and sharing relevant information, you cannot do this if you join too many communities.
Outside of Empire Avenue
One of the most powerful ways to take advantage of Empire Avenue is using the network to grow your other Social Media profiles. Because your stock price is based solely on your actions on Empire Avenue and other connected Social Media sites such as Facebook, Facebook FanPages, Twitter, LinkedIn and YouTube most Empire Avenue users are actively connecting with their shareholders on other networks. This creates an opportunity for you to grow your other networks with little additional effort. I’ve seen FanPages struggling to gain 1 new Fan per week join Empire Avenue and almost immediately start seeing 1 to 5 new Fans per day. Empire Avenue has attracted many individuals and brands that are fully embracing the Social Media expansion and looking to connect with brands and like minded people on Twitter, Facebook and LinkedIn. On top of using the network to grow your other 3rd party networks you can use the network to direct traffic directly to your website or blog. This network can be one of your top traffic producing tools when used correctly.
With the above three methods of using Empire Avenue you can effectively join Empire Avenue and see an increase in your business’s Social Media operations. The key to the network is being active on both Empire Avenue and any network you connect the site too. With poor or falling stock prices you will not grab the attention of your target market, which does not allow you to harness the power of any network. Empire Avenue, like Facebook or Twitter, can be a very powerful marketing tool when you put the time and energy into being active on the site on a daily basis.
How are you using Empire Avenue to increase your business? Tell us in the comments field and if you leave your Ticker we’ll invest 100 shares in you!