$$$ocial Media

How to make the use of social media as profitable as possible?
Well, I believe that the website 'Battle of Concepts' can be of great assistance. 'Battle of Concepts (BoC)' is a website where organizations can put specific cases on. If a company has a problem or wants to start, for instance, a new campaign, it can place this case on the site of BoC. Students from schools all over the country can subscribe to te website and work on a case of their choice. If you submit your solution before the deadline, it will be judged by a group of people who read all the received solutions. The creators of the best solutions will receive a (big) cash price. So, if you are a student who has some time left: give it a shot!
That is, however, not what makes the site so interesting for companies. What makes it interesting is that a lot of cases put on this site are cases that involve social media. A lot of organizations ask students to come up with a good social media campaign in order to enlarge their brand awareness or introduce a new product. That is, in my opinion, a great way of using social media in the most effective and low-cost way. Think of it like this:
My business, a small company that wants to enter the market, places an online request. My target group consists of students and I am looking for ideas about how to use social media in order to gain more brand awareness. What I am asking from BoC-members is that they come up with an example of how to use social media in order to achieve my goal. By placing this request I have already reached a part of my target group. After that a group of people will start working on my case, let's say a hundred people work on it. All these people will start looking for information about my company. That means that I was able to get a hundred people involved and interested in the whereabouts of my company. These people might even consult other people about the case, which enlarges the group of persons I have reached, without even having a social media campaign. When the deadline is reached and all the possible solutions have been sent to my company, I am the owner of many, many ideas. Ideas that will help me reach my target group, ideas created by my target group. I can pick the best ideas out and start using them. You know what else is so great about this? I have a pile of ideas (my request) form young people (my target group), who are active on social media (my medium) and I didn't even have to pay some big, expensive advertising agency!