I have a very limited budget for marketing. How would you suggest using it to drive the most traffic to a social media app? The traffic would have to be targeted as well.
It's a Saas social media app similar to Buffer and the target audience is:
It's a new app so there isn't an existing list of people I can contact to get going.
Marketing strategy depends on the target audience and will vary for B2B vs B2C dramatically. The critical factor is the skills of the marketer, e.g. can you write a blog post, crop images, create basic graphics, etc. If you have some skills and have time, you can work around budget limitations.
Your goals are an important factor to consider as well - quick traffic for validation, long-term traffic that converts to users, long-term sales - these will call for different tactics.
I am not sure if traffic is your real goal (unusual) Vs. sales, so will assume the app is free.
It's unclear who your target audience is from the question, but lets assume 2 options:
1. App is for small businesses to help with managing social media brand presence
This is a very crowded market, so your strategy will depend on any unique features you app has that others don't, the size and type of the business that makes an ideal customer. Your best bet would be to try and get featured (perhaps in a list of tools) in blogs about social media. If you need some quick traffic to start learning about how your MVP gets used, you can create campaigns on AdWords targeting the phrases that describe key/unique features.
2. App is for consumers to manager their online identity.
Your best audience for traffic and engagement would be teenagers and young adults. I would try out Facebook ads to promote the app. If you don't mind international audience, targeting your ad to countries (you can choose English language) other than US will reduce your cost per engagement/click.
Can't be more specific without knowing more about your goals and audience.
Here are some resources to get started: