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Building a Successful Social Media Strategy

Social media has been termed as the fastest growing marketing tool in the current marketing trend as it offers businesses power to get into contact with millions of customers at the touch of a button. With at least 91% of internet users using at least one social networking platform, it has become important for companies to build an effective social media strategy. Below are some key steps towards developing an effective social media strategy for your business.

Setup Your Goals
The start of a strategy is quite similar to any other marketing strategy. It is important that you outline your goals before going ahead to open accounts on major social networks. You must know that social media is a long-term strategy aimed at building and strengthening relationships and brand identity and not a quick selling marketing gimmick.

Develop a Plan
Your marketing plan should include choosing a number of social networks to get started with, determining the number of times each account will be updated and decide whether the updates will be announcements or conversations. You will also need to decide on how to integrate your social media strategy with the overall communication strategy of your communication.

Point Out Your Niche
There are many social networks that are being developed every day like Facebook, Yelp, YouTube, Twitter, Reddit, LinkedIn, the list is quite long. Each of these social network has their strengths and weaknesses as well as opportunities and threats. It is up to you to carry out some research and identify which social network is best suited for your target audience. You must remember that your niche varies depending on whether your company is local, regional, national or global.

Assign a Social Media Manager
If your company has adequate resources it is preferable to employ a social media manager with experience to deal with regular updating of the different social networks. Otherwise you can delegate the updating task to some of your employees who are familiar and comfortable with the domain.

Engaging with your contacts is viewed as the most important aspect of social media strategy. Your contacts are the major influence you have in developing and maintaining a positive corporate identity. Make sure that you engage your contacts through both offline and online events.

Keep a record of the important statistics like the number of updates, number of feedback or comments, the number of new followers or fans and any other significant actions that took place. You must measure and analyze these critical metrics against your social media goals on a monthly or weekly basis.

As far as social media strategy is concerned, you must note that there is no precise science. The strategies will vary depending on the business type and the industry.

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