I would say to think about what your goal is and how to achieve it. Eliminating bullying entirely is probably not realistic. But to decrease its effect and help those affected by it certainly is.
Education will only go so far: the bullies know that they are bullies (for the most part) and enjoy making others miserable. Those around them usually know they are bullies and understand there are negative effects.
The question is what to do about it. That means asking social media sites to develop and enforce an anti-bullying policy. Both aspects of this are struggles: developing a policy that also allows for certain freedoms of expression is harder than it looks. One job you might do is research what has been done and find models for other companies to adopt.
Then, enforcement is key. Who decides who is and is not a bully? Who decides what is going too far? What are the punishments? What is the escalation process? What resources are devoted to finding and dealing with bullies? Does the site need to actively seek them out, or does it rely on reporting by members?
Then, of course, you have the question of who in the organization has the power to decide about such policies. How do you find them, educate them, and get them to commit? How do you make it so that they want to devote their time and energy to such a policy?
On the other side, how do you find victims of bullying and help them? Usually they are embarrassed by the bullying itself and are not as likely to reach out for help. What resources can you provide to let them know that help is available and encourage them to report abuse? And, for that matter, what resources do *you* have available to help them? Can you provide counseling? financial assistance? alternative social media?
Just a few thoughts from the top of my head.
GOOD LUCK!