I don't think social media can be utilized to help young people suffering from mental illness, social media are for educated people not for people suffering mental illness
This is one of the most interesting perspectives on this subject that I have read. I have found that there is significant overlap between educated people and people who are mentally ill.
Education is what the mind has access to, developing the mind by giving it more information. Mental illnesses are caused by the mind being fed false or misleading information, or being subject to experiences that cause misleading emotions. Psychotherapy is the process of removing false or misleading information from the mind and processing experiences to place them in their proper importance and context, reducing their emotional impact.
This is a very good idea of turning social media use into a form of helping those young people with mental illness. However, social media has had some bad effects on mental health such as causing people to compare their lives with others and feel like they are left out. I think the first step is to deal with the negative effects that social media has on mental health, then it can now be used to solve other mental illnesses.
Social media is a bad tool for processing false mental information and removing it from the mind. Social media is supposed to be a repository for correct and useful information, as is the rest of the information. By encouraging people to post about their mental illnesses or worse, vent them publicly, we are spreading misinformation.
The best method for dealing with mental illness is in smaller private communities where damaging beliefs can be debated in longer form without subjecting the person to public shaming or attracting people with even worse beliefs than the mentally ill person. Art and music can help with the emotional processing portion of mental illness, helping people understand their own experiences through the perspective of empathy.
So basically you need to start an online forum with a front-facing art blog and/or music production in the front of your site. That's basically what Icon For Hire did, only they started with the music business first and built their online community second, in a private Facebook group.
The problem is that you not only need to attract those with a particular mental illness to your forum, but also the mentally healthy to engage in conversation, otherwise debating and talking will not work. You may also want to attract the advice of mental health professionals as well. I'm not sure exactly HOW to pull all of that off, but you may then be able to post the art on social media in order to encourage people to join your forum.
Providing mental health information straight-up and encouraging people to join support groups or seek professional help can also work. That's how HealthyGamerGG operates, and that is run by a trained psychiatrist.