A social media strategy gives insights how an organization uses social media platforms to achieve their online marketing goals and objectives.
‘What’s hot?’ and ‘What’s next?’ are the two most common questions at the start of every year. In last one decade, the answer to both is the same. The world is rapidly shifting from analogue to digital.
Going digital is not just the current happening thing, it is the future. Since the majority of potential customers and audience are on Social Media, it is the best place for marketers to tap new audiences and nurture the existing ones.
Let’s take a look at how Social Media strategy can help your business:
- Reduces the cost of marketing: Most of the businesses have saved considerably by promoting their product and services on the digital platform. Digital marketers also say that their cost-per-lead is much lower compared to other marketing channels.
- Easy to track: Marketing products and services on social media measure success by the percentage rate of incoming traffic getting converted to leads, subscribers and sales. As the customers’ response can be measured in real-time, you can make changes in the strategy and implement them faster.
- Rocket fuel for the growth: An effective social media marketing strategy helps in higher conversion rates, which deliver a lot of valuable benefits for business concerning better and higher revenues. As per Google, companies using Social media marketing strategy have more than doubled the revenue growth expectancy and better chances of expanding their workforce and business.
- Earns people’s trust:Social media platform helps to establish two-way communication between the company and its target customers. It leverages on social proof, social media signals and testimonials from consumers who have previously joined, purchased or availed a product or service marketed by a particular business or brand.
- Caters to mobile users:In the last 15 years, mobile gadgets have evolved from being a mere device to communicate, into something that is influencing customers purchasing decisions.
However, to effectively use the platform is the real trick. Let’s take a step-by-step approach.
Step 1: Determine Your Objectives And Goals
Like any good strategy, it is essential to start by defining targets and goals. To be able to calculate the return on investment on Social Media strategy, the goals and objectives should be measurable. Make sure that your objectives are SMART – Specific, Measurable, Achievable, Relevant and Time-Bound.
Step 2: Create Cross-Functional Team
Marketers are known for being great at connecting a brand to its audience. However, other issues are raised on social media strategy as well, like customer service and support, which is usually managed by a different team. So, we can say that social media has reached into all corners of an organisation.
This is the reason while forming a social media team, marketers recruit a cross-functional team. The team comprises of relevant talent and resources across various departments of an organisation. That helps in developing and managing the organisation’s overall social media marketing strategy.
Step 3: Understand Your Audience
Now is the time to develop buyer personas for your marketing activities, if you have not done so already. It helps to go beyond the traditional target market demographics and provides meaningful insights into how customers engage on social media platforms
Step 4: Conduct A Social Media Audit
If you are already there on social media platforms, assess what you have been doing there. Understand what is working and what isn’t. This helps in knowing if you are on the right track or not. Be sure to check the resources that are being used for your social media marketing strategy and are they enough to meet your goals. It is essential that your profile on social media serves a purpose.
Step 5: Look And Listen
Do not underestimate your competitors. Keep a close watch on what they are doing and how well they are doing. Study your competitor’s social media content in detail, the cultural references they are using, their preferred language style and more.
Step 6: Choose Your Platforms
You do not have to be everywhere. By studying your competitors, you will be able to identify the platforms that are apt for your business. Be where your audience is and not waste your resources by being omnipresent.
Step 7: Create a Content Plan and Calendar
Doing this reduces the time and effort you need to put in every time you are working on a post for social media. This helps you in outlining the type of content you will be using, when it will be used, where it will be used and how often it will be used. Have the right mix of images, text, video, links, infographics and more.
Step 8: Monitor, Connect and Analyse
Regular monitoring and analysing data is critical for your social media plan. Make sure that you have all the tracking mechanisms and reporting functions in place. Facebook Pixel and Google Analytics are a few vital analytics tools.
It is a global ecosystem of interconnected devices like smartphones, tablets, appliances, gadgets and more. These can interact with each other using the internet. Now is the era of “Internet of Things” and surviving in this dynamic time means including your business in this interconnected grid. These steps will help you develop a social media strategy for your business and help you achieve your goals and objectives.