You can learn a lot about social media marketing from those who have gone before you. Failure at other marketing plans could be fatal to your company, but social media marketing is cheap and it is possible to repair errors. Your audience is very likely to give you feedback on everything you share with them, so you'll learn how to deal with them better later. Traffic will be easier for you to pull in from here on out.
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Pligg is an open source content management system that lets you easily create your own social network.