For some small business owners, a social media strategy could be a foreign concept. Adding one of the many useful websites could be a great boost to a company's financial plan, as the monetary costs are often low.

However, if proper social media etiquette is unknown to a small business, it could be easy to make a number of critical mistakes. These errors might undo a lot of hard work, so companies should make sure to avoid posting in certain ways.

Caution is needed on social media
One of the best financial tips out there could involve social media. This strategy is cost-effective, with the major investment coming in the form of time management. Posting should happen frequently in order to get the most out of these sites, but some small businesses may not know when it is the appropriate time to use social media.

For example, any breaking news story shouldn't necessarily be commented on via social media, according to Entrepreneur magazine. Brands that weigh in on news stories run the risk of coming across as tone-deaf, insensitive or offensive.

In most cases, silence is always advisable. But, some situations do arise that present a unique opportunity at real-time marketing. If the story is closely related to the company, or it affects consumers, it might be worthy of a tweet or Facebook post. It could have taken place in the city where the small business is located, or the products already tie into the news story.

Additionally, small businesses should never use a news story to be self-promotional, the news source noted. A product appearance is rarely advisable, and any statement on a natural disaster or tragedy shouldn't read like anyone could say it. General statements from a brand tend to come across as insensitive.

Don't make social media ineffective
A great social media strategy takes time to develop, according to Small Business Trends. A financial plan could be improved with these tactics, but everything might also go in the other direction. A business could be undone by trying to do too much online.

For starters, a small business should determine how to best use social media before taking the plunge. If videos get more views than text, a company could focus on that medium instead of other blog posts. Also, a number of firms don't utilize the tools on each site correctly. That can include the proper photo of the company, all the relevant contact information and other links.