Social Media Strategy - Lesson #1

A social media strategy is a summary of everything you plan to do and hope to achieve on social media. It guides your actions and lets you know whether you’re succeeding or failing.

The more specific your plan is, the more effective it will be. Keep it concise. Don’t make it so lofty and broad that it’s unattainable or impossible to measure.


There are good things that we can attribute to social media, primarily in terms of providing a voice to people and groups who previously struggled to be heard and of making information transparent and portable.


However, it also amplifies the voice of discontent and vitriol is not uncommon. Jumping on angry bandwagons is also something that social media seems to fuel periodically.


Even if you’re not actively involved in social media, other businesses are, including your competitors and most likely a significant proportion of your customers.


Failing to understand that this is where many people hold conversations means you’re not part of the discussion, and you can’t influence what happens.


If you don’t know what’s being said, how can you effectively manage your brand reputation online? And how can you ensure that your key messages are being heard by the people you most want to talk to?


How to create a social media strategy


Vanity metrics like the number of followers and likes are easy to track, but it’s hard to prove their real value. Instead, focus on things like engagement, click-through, and conversion rates.


You may want to track different goals for different networks, or even different uses for each network.


For example, if you use LinkedIn to drive traffic to your website, you would measure click-throughs. If Instagram is for brand awareness, you might track the number of Instagram Story views. And if you advertise on Facebook, cost-per-click (CPC) is a common success metric.


Social media goals should align with your overall marketing objectives. This makes it easier to show the value of your work and secure buy-in from your boss.



Start developing your social media marketing plan by writing down at least three goals for social media.


Do you know who you are dealing with?


Knowing who your audience is and what they want to see on social media is key. That way you must create content that they will like, comment on, and share. It’s also critical if you want to turn social media followers into customers for your business.


When it comes to your target customer, you should know things like:

  • Age

  • Location

  • average income

  • Typical job title or industry

  • Interests

  • etc.

Get to know your fans, followers, and customers as real people with real wants and needs, and you will know how to target and engage them on social media.

Don’t make assumptions.


Social media analytics can also provide a ton of valuable information about who your followers are, where they live, and how they interact with your brand on social media. These insights allow you to refine your strategy and better target your audience.


Jugnoo, an Uber-like service for auto-rickshaws in India, used Facebook Analytics to learn that 90% of their users who referred other customers were between 18- and 34-years-old, and 65% of that group was using Android. They used that information to target their ads, resulting in a 40% lower cost per referral.


Do you know about your competition?


Odds are your competitors are already using social media, and that means you can learn from what they’re doing.


Conduct a competitive analysis

A competitive analysis allows you to understand who the competition is and what they’re doing well (and not so well). You’ll get a good sense of what’s expected in your industry, which will help you set social media targets of your own.

It will also help you spot opportunities.


Maybe one of your competitors is dominant on Facebook, for example, but has put little effort into Twitter or Instagram. You might want to focus on the networks where your audience is underserved, rather than trying to win fans away from a dominant player.


Use social media listening

Social listening is another way to keep an eye on your competitors. Do searches of the competition’s company name, account handles, and other relevant keywords on social media. Find out what they’re sharing and what other people are saying about them.


Have you had a social media audit?


First let’s answer the question, “What is a social media strategy?


A social media strategy defines how your organization will use social media to achieve its communications aims and the supporting platform and tools it will use to achieve this. At a basic level it’s a simple statement of intent, outlining the goals and measurable objectives for using social media, and the target outcomes you want to achieve. It does this in the context of the overall business and comms plan so that social media isn’t in a silo but working in parallel with other channels. It isn’t a detailed plan of action – you’ll also need a plan but without a clear strategy, how do you prioritize the activities for a plan?


Think strategy first, plan second.


Here are six key reasons why your organization needs a coherent social media strategy and plan.


1. The social web still is growing fast


The latest research on social media usage shows that there are two key factors driving the social web according to a Global Web Index study:


1. Mobile – people accessing the internet via mobile increased by 60.3% to 818.4m between 2012 and 2014


2. Older user adoption – on Twitter the 55-64 year age bracket is the fastest-growing demographic with 79% growth rate since 2012; the fastest growing demographic on Facebook and Google+ is the 45-54 year age bracket.


Improved mobile connectivity globally has increased ‘on the go’ social activity, from catching up on friends’ updates to sharing content and watching a video. Social media usage research in the US from Ruder Finn measures the reasons why people go online and socializing is one of the key drivers:

Social Media Strategy
Videomedia.co.za

As people spend more time on social media, consuming more content than ever before, you might think that the space is saturated so getting involved isn’t justifiable.


Wrong!


Creating a targeted social media strategy will help you focus on using relevant platforms to connect with existing and new customers and avoid simply adding to the noise.


2. Purchasing decisions are influenced by social media


If the first era of social was audience building and engagement, the current era is focused on commerce and personalization. All major platforms have heavily invested in their advertising solutions to lure marketers with the promise of improved APIs and smart targeting, including the ability to upload email lists to run personalized remarketing campaigns.


For example, through the Facebook API marketers can:

  • Manage audience data for custom audience targeting

  • Create campaigns and ads

  • Build custom dashboards and run analytics

  • Manage campaign assets: pages, accounts etc.

  • Research from Crowdtap revealed that 64% of 3,000 people surveyed use social to find inspiration for shopping (up 51% vs. prior year). This is driven by retailers targeting consumers with personalized offers and deals on social networks.

Nearly half (46%) of social media users are already using social platforms while thinking about making a purchase. 40% of users are actively deciding what to buy based on what they have seen on social media platforms, including reviews and recommendations, and this is only set to grow.


Peer recommendation has the most influence on holiday gift purchases, more than bloggers or celebrity endorsements. Given the importance of peak trading to the overall sales target, you need to plan how to encourage people to share and talk about your products.


There are subtle differences between the role each social network plays in the purchase cycle. For example, Pinterest is a great place for people to find inspiration and works well as a visual product storyboard. Facebook is well suited to people looking to share content and find promotions.


Without a clear strategy, how do you know what role these networks can and should play in your customers’ buying cycles? How do you know you’re not losing out on potential sales, or trying to sell to people who aren’t looking to be sold to?


3. Lack of strategy hands the advantage to competitors


It’s uncommon to find an organization without a social presence and increasingly companies are developing clear social strategies aligned with business goals.


A marketer with a strategy has a framework through which to plan, prioritize, execute, measure, and optimize. This typically will lead to better results because the activity has direction, even if the direction needs to evolve and change as the marketer learns from real data.


If you invest in a social presence without a clear strategy, you won’t know whether or not your campaigns are successful. For example, if you simply post content to appear active, how do you know that content is contributing to the business positively? What if it’s actually putting people off your brand?


I once sat in a meeting where a marketing exec reported on social performance and was delighted that a tweet got more than 100 RTs over the weekend. The team decided this was a success. However, on closer inspection, the tweet included a poorly chosen hashtag and the hashtag’s and this generated the RT activity. Unfortunately, the core hashtag users weren’t relevant and certainly not a target audience.


Why did this happen?


There was no plan or guidelines in place for the marketing team to know what to post, when, how, to whom, and why. For example, no research done on hashtags to define which conversations the company should and could be a meaningful part of.


With no structured approach to communication and measurement, you risk wasting resources on undirected activity. Meanwhile, savvier competitors will be working smarter at engaging customers based on clear goals, objectives, and targets so performance is being measured, rather than results reported.


4. Your customers are active on social media


Mobile, social, and the underlying technology have combined to provide an environment in which people can access, use, and share information on their terms. Friends of mine rarely read blogs or emails; they use Facebook as their content stream. The disintermediation of content means that you have to understand the role social plays in customer communication.


Even though it’s only a subset of your total audience, it’s likely that some of your customers will want to get information from you via a social network. A good example is the rise of Twitter for customer service, with brands like BT embracing it as an effective customer inquiry and problem resolution channel.


That doesn’t mean ignore traditional forms of customer service, it means updating your customer service framework to factor in social interactions.


This is why you need a strategy.


Deciding how to connect with a customer is not a tactical decision, it requires strategic thinking. Social needs to align with the other communication channels so its role is defined and understood, and there are processes and tools in place to cope with demand. If you let a social marketing team simply get on with it, without the strategic vision above it, you risk inefficiency and inaccuracy.


5. There are key influencers in every social network


Don’t underestimate the power of peer and/or influencer recommendations.


For years retailers have known that customer ratings and reviews can increase conversion rates through the power of peer influence; feedback from another customer is typically seen as trustworthy. An expert endorsement also increases brand credibility.


For example, in highly specialized tech markets like audio-visual, the experts’ opinions are highly sought after and can make or break products.


Social media channels have influencers, from the obvious celebrities to self-made social stars like video bloggers. High street retailers often employ trending influencers to amplify their marketing messages.


For example, Topshop worked with five rising Instagram stars to help shoot its London Fashion Week show.


If you’re not part of their world, you’re not relevant. You risk losing mindshare to more socially aware competitors who are willing to be bold and innovative in their marketing campaigns. And if none of the key social influencers for your target audience are interested in your company and its products, it’s much harder to get your message across to the end customer.


6. Reputations can be enhanced or destroyed on social networks


There are good things that we can attribute to social media, primarily in terms of providing a voice to people and groups who previously struggled to be heard and of making information transparent and portable. However, it also amplifies the voice of discontent and vitriol is not uncommon. Jumping on angry bandwagons is also something that social media seems to fuel periodically.


What will you do if the world decides you’re enemy #1 and attacks you on Twitter?


How will you respond to an avalanche of negative tweets?


Due to mistakes on social media becoming so prevalent in previous years, companies are now using faux mistakes to engage audiences and start conversations about their brand online.


One great example of this has been Amazon's use of their hashtag #amazonshitcarshow to promote the third series of The Grand Tour. The hashtag can be read in two ways.

Social Media Marketing
Videomedia.co.za

There are high profile examples of companies facing a social media backlash and struggling to respond effectively.


Even those with a social media strategy that includes crisis response find it hard. So how much damage could be done to your organization if you don’t even have a strategy?


It’s a risk you shouldn’t take.


A social media strategy is a summary of everything you plan to do and hope to achieve on social media.


It guides your actions and lets you know whether you’re succeeding or failing. The more specific your plan is, the more effective it will be.


At Videomedia.co.za We keep telling your story in different ways until you get your lead and conversion.

Together with you, we keep the interests of your business AHEAD of your competitors.


By changing the way you advertise and target, you can get dramatically new results.

In these times, that is GOLD! 🥇


Social Media Marketing



Social Media Marketing