How to build a Social Media Marketing Strategy?
To build a successful Social Media Marketing Strategy you need to do thorough research.
Looking for other similar campaigns and having an acquaintance of a product/service is not research. Such little information will not be able to form the foundation of any strategy, let alone for a multimillion-dollar venture.
There are many stages involved in building a solid Social Media Marketing Strategy. Try and follow them like a ritual for the first couple of times. After a while, you will be able to modify it and add new stages based on your experience, learnings, and requirements of your goal.
B2B and B2C play differently
While starting to build a social media marketing strategy for your brand, do understand, that the paths you take while building your strategy are going to be very different considering what kind of audience you are trying to approach. Are you trying to approach other businesses, or are you trying to approach consumers?
In case you are having trouble understanding the difference, try working on your buyer’s persona. This can help you to understand your target audience very closely. With this, you can make your social media marketing strategy more targeted.
Purpose of the campaign
Are you trying to;
- Create brand awareness
- Launch a new product/service
- Generate Leads
- Increase the engagement
- Generate revenue
The best way to lay down the foundation of your marketing campaign is by defining your SMART (Specific, Measurable, Attainable, Relevant, Time-Bound) goals.
Clarify the purpose of the campaign that you are trying to build, and set SMART goals for it. SMART goals make sure that you stay on track. You can also measure the success of your campaign very objectively, without any biases.
For example, generate 20 new leads in the next 30 days for your brand by means of social media marketing campaign only, is a SMART goal.
Understand the difference in the audience on each platform.
- On average, an individual is a part of 4 social media platforms.
- The purpose of each of these platforms is very different from the other.
- Demographics also make a huge impact on which platform is being used.
- For some, there is a specification on the kind of media being used to communicate.
- Depending on the age group you are trying to target you might want to filter out some of these platforms.
- Interestingly enough, you can even classify the users of certain platforms based on their location as rural or urban. This information can come in handy for some brands.
You can download the Social Media Industry Report with such insights and a lot more here for free. Advertisers and Social Media Marketers can specifically benefit from this report.
Understanding the audience and purpose of each platform separately will guide you to build your strategy in a more targeted way and utilize the budget in a planned manner.
Competitive analysis (Industry understanding)
There are two parts to competitive analysis.
At the granular level
Analyzing every single one of your competitor’s strategies to understand their approach towards the customers. As well as towards the product/service being offered.
At the broader level
Understanding the actions and reactions of the customers towards your industry. What is being appreciated, what are the challenges that the customers are facing, and what more are they expecting from the product/service that is currently being offered.
Competitive Analysis can give you unparalleled insights about the perception of your industry and your competitor’s in the market. You can use this information while building the current campaign to strengthen your social media marketing strategy.
Set up a proper and complete social media profile
Considering the fact that the purpose of every kind of platform is different, you might want to consider building a separate bio for each one of them.
Think about what the customers might be expecting when they are looking for a brand on a specific platform. For example, What you write on Instagram is going to be a lot different than what you will write on LinkedIn. One is a casual picture sharing app (now has videos and IGTV) and the other one is where people go when they are looking for professional connections and some serious information.
Try to think from their perspective. Build a profile that is both explanatory about what the brand does and at the same time engaging.
The difference in Approach of brands from the same industry
Even if there are multiple brands that form a part of the same Industry and offer similar products and services, they all stand uniquely different.
The Social Media Marketing Strategy that you build should highlight your unique strengths in a way that is easy to spot for your customers. Look for the strengths of your competitor’s marketing campaigns and try to implement them. For example,
- what is the message that they are trying to communicate
- what is the relation between their message and the style of communication
- the way the visuals have been bought together
- how have they composed the message
- are they keeping it fun or emotional
There are many other ways by which you can try and analyze a marketing campaign. Here is a list of things that every viral social media marketing campaign has in common that you might want to take a look at.
Types of content
There are many direct and indirect benefits of choosing the kind of content you try to create for your Social Media Marketing Campaign.
Types of content include text, quotes, visuals, videos, podcasts, gifs, ebooks, white paper, and infographics.
Make sure to take advantage of multiple kinds of content. Mix things up if you like. Your only goal should be to reach as many prospects as possible and keep your audience engaged.
Leverage user generated content.
User generated content is what people post about a brand, their product and their service on any social platform.
Leveraging this content as endorsements can help a brand to build an image among the masses.
Research says that more than 80% of the people are likely to buy a product/service if it has positive reviews by other users on social media. And, what better way to prove this than by taking advantage of User-generated Content and adding it to your profile.
Do not forget to incorporate this in your next Social Media Marketing Strategy. It can increase your brand’s value dramatically.
Analyzing what’s working and what’s not
Once you have build your Social Media Marketing Strategy, and successfully launched it, it is important to keep an eye on its performance. While it is running, as well as after.
Compare your performance with your last campaign and industry standards to see what worked better and what didn’t.
Keep refining and experimenting with the strategies that you build to stay with the changing trends.
The more targeted your Social Media Marketing Strategy will be, the more successful it will be. Trying to reach anyone and everyone will only be a waste of time, effort and money.
Your customers are out there, and chances are, that they are already looking for you.
All you need to do is to strategize in a way that you reach the right groups of people for the successful completion of your campaign’s goals.