How to Develop the Best Social Media Marketing Strategy for Your Business

How to Develop the Best Social Media Marketing Strategy for Your Business

Social media can help take your business to the next level, but you need a solid strategy to do so. A strategy is a map or a plan you use to reach your destination or goals. The more detailed your plan is, the better, because it will then be easier to achieve your goals. If your plan is too open and vague, it may be a challenge to identify if you actually accomplished anything. Every business has different needs and different goals, so the strategy must be unique, too. Find out how to develop the best social media marketing strategy for your business.

Set Goals

Before you can figure out the how, you need to identify the what. Figure out what you want to achieve through your social media marketing, or rather, identify your goals. The more specific and detailed your goals, the more you will be able to custom tailor your plan to reach these goals.

For instance, increasing sales is a mediocre goal. A stricter goal would be to increase sales with your existing customer base or increase sales from new customers. Try to quantify your goals and set due dates. Instead of deciding you want to increase the number of social media followers you have, choose a specific number of followers you want to reach. Also, select a timeline for achieving your goal. This will help to hold you accountable and make it easy to distinguish whether or not you cross the finish line.

Choose Realistic Goals

Good goals should be realistic and feasible. If you currently have 500 social media followers and you want to reach 1,000 followers, give yourself enough time to reach this milestone. For example, one week, or even one month is not a lot of time to double your social media followers. A better fit may be to give yourself six months to add an additional 500 followers. Setting unrealistic and unachievable goals can hurt morale and make it harder to move forward, so take the time to consider what is possible and set goals within those limits.

Stretch Goals

If you think your goals are very achievable, you can also set stretch goals. This is a backup plan if you reach your first goal. Let’s say you achieve your goal much sooner than anticipated. Instead of celebrating, set a new, updated goal. If you manage to reach 1,000 followers a couple of months ahead of schedule, your stretch goal may be to add another 200. You should continually be moving forward and working towards a new goal.

Identify Your Baseline

Before you get started trying to achieve your goal, check your analytics and other key data points. You’ll want to have this info in order to track your progress and success after you’ve implemented your strategy. Understanding your metrics can also help you pinpoint areas in need of improvement. This glimpse into where you are succeeding and where you are falling short can help you craft goals that will propel your business forward.

Track Significant Metrics

When it comes to social media, it’s easy to get caught up in how many likes and shares your posts receive. This info is useful and ultimately is the symptom of a healthy social media presence, but try to go deeper. Track how many leads are generated and watch your conversion rates. Find out how your social media efforts are impacting your bottom line.

Evaluate the Competition

Check out what your competitors are doing. Your needs will be different from other businesses in your industry, but it’s best to get a handle on what you’re up against. Figure out where your competition is succeeding and where they are falling short and tailor your planning accordingly. For instance, if your competition has a strong Instagram presence, understand that you may have trouble gaining traction on that front. However, if your competition is not using Facebook, or at least not using it effectively, and you know a major segment of your demographic uses Facebook, this is an excellent place to establish your presence, assist your customers by providing value, and work to convert sales.

Get to Know Your Audience

You probably know a great deal about your demographic, but keep digging and learn everything you can about your customers. Most social media platforms can provide detailed analytic information about their users. Review this information to determine the right platforms for your brand. The more you know about your customers’ social media habits, the better equipped you will be to create appealing and targeted posts that will bring you closer to your goals.

Create Your Social Media Marketing Strategy

A well thought out and structured strategy will be easy to implement and measure and will help you grow your business and reach your goals. Each business has different needs so each strategy will be unique to that business. Find out more about creating an effective social media marketing strategy to give your business a boost.