How Your Business Can Develop An Award-Winning Social Media Marketing Strategy

With the massive popularity and ever-increasing marketing potential of social media, it’s vital to understand how to best utilise social media marketing for your business. Businesses can no longer afford to have a simplistic marketing strategy that is based on mere presence. Brands must have an appropriate social media marketing strategy or else they lose out on potential customers and have a diminishing bottom line.

According to Media Post, 30% of millennials engage with a brand on social media at least once a month and 7 in 10 Gen Xers are likely to purchase something from a brand that they follow. So how can your business develop an effective social media marketing strategy? The first step in developing a successful social media marketing strategy is to determine what you want to achieve from your efforts. Creating realistic goals for your business to achieve is extremely important. By having specific goals mapped out, you are more likely to stick to a concrete plan and work towards where you want you ultimately want your business to be.

When developing a social media marketing strategy for your business, it’s important not to oversaturate and develop a page for every social media channel in existence. Instead, select social media channels that are of most importance to your business and suit your brands goals. It is also important to document your social media goals so you can determine where you are and what you need to do to achieve them. The next step in developing an effective social media marketing strategy is to research and understand your audience. Understanding your audience is essential as it helps determine specific factors, specifically who is buying your product and what age group is your is the most difficult to sell to. Your brand needs to investigate the demographics of each social media channel in order to tailor content that is more relatable and engaging, in order to increase audience engagement.

When developing an effective social media strategy, its important to establish your most important metrics. Determining and understanding engagement metrics will help develop in your mind a greater understanding as to the sorts of people engaging with your content and brand. When you develop this understanding, you can grow your audience and create long-lasting relationships with customers.

Some metrics that are definitely worth considering include reach (the amount of users that saw your post and how far your content is spreading) clicks (link clicks in particular help understand how social media users discover and engage with specific content) engagement (how well your audience perceives your brand and is willing to engage) and sentiment (audience reaction to specific content). Investigating your competitors is also crucial when formulating a successful social media marketing strategy. Firstly you need to discover who your competition is by searching for keywords and who is in your industry then figure out which brands have an active social media presence. Analyse the activity of your competitors and figure out what social media activity works and what doesn’t, so you can develop a greater understanding of the sort of content your audience finds most engaging.

Building and creating appropriate and engaging social media content has to be one of if not the most important component of your marketing strategy. It is important to create content that suits your brands identity. Develop content that is relevant to your audience but it is not overly promotional.

Video content, in particular, is extremely important to your social media marketing strategy. Video based content is by far the most popular and engaged with content on social media, especially when its highly-visual. On the flip side, engaging with your audience and not neglecting them is also paramount. Social media channels are built as networks where people converse and share content. You need to ensure that your brand utilises engagement opportunities to show that your brand cares. Seeking out appropriate engagement opportunities does wonders for your brand and helps develop a positive reputation. Finally, keeping track of your social media marketing efforts is also very important and discovering new ways to improve. Your brand can utilise specific services that offer a range of analytical and reporting features including Google Analytics, which help determine which posts drive the most amount of traffic, conversions and overall revenue.

There are numerous steps you can take to create an award winning social media strategy, which include creating specific goals you want to achieve, researching your audience, establishing metrics, researching your competitors, building engaging social media content, engaging with your audience and tracking your audience. By developing a clearly thought out social media marketing strategy, your business will become more popular with customers, generate more revenue and stand out for all of the right reasons.