Social Media Marketing Strategy for Businesses in 2023

Social media has become one of the most influential marketing strategies available to businesses today. A social media strategy is a document summarising your social media goals, objectives, key steps and social media metrics to measure success. A social media marketing plan guides a business’ marketing efforts to ensure they are succeeding. 

Consumers have begun using social media platforms as search engines to help guide their purchasing decisions. The stronger your social media presence, the more likely a consumer is to invest in your business; over 70% of consumers who have had a good social media experience with a brand are likely to recommend it to others. 

The benefits of social media marketing include: increased brand awareness, increased website traffic, more organic conversations, strong customer relationships and specific audience insights.

How to create an effective social media strategy for brands

Choose social media marketing goals that align with your overall business strategy

As with any marketing strategy, your social media marketing strategy should aid your overall business plans. A good framework for goal-setting is the S.M.A.R.T system:

• Specific
• Measurable
• Attainable
• Relevant
• Time-bound

Without SMART goals, you won’t be able to measure your return on investment.

Track relevant social media metrics

When using social media as a marketing tool, it’s important to track relevant metrics to see how your strategy is performing. Vanity metrics (follower count, likes, comments) are easy to track but they don’t carry real value. By focusing on social media engagement, click through and conversion rates, you can see the real impact your strategy is having on your business.

Know your audience

Without knowing your audience, you won’t know which social media marketing channels to prioritise. Knowing where your audience lives on social media and what they want to see is an important starting point. This way, you can create content they will want to see from the get go. 

You should use social media to gather key information on your audience to ensure you are proving the most interactive and engaging content possible. Social media analytics provide 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.

Social media strategic planning considerations

Investigate your competition

Social media is a public online space, so you have easy access to your competitor’s activities. By analysing their strengths and weaknesses, you can apply these insights to your own content. This gives you immediate insight into what your target audience likes and dislikes in terms of content.

Establish the best times to post on social media

Finding the optimal time to post on each of your social media accounts will give you the best possible chances of reaching high engagement. This usually begins with trial and error.

Once you have found the key times to post, you should set up a content calendar. This helps you keep track of the content you have posted, so you can continue to monitor and adjust when you should be posting for the best results.

There are different times you should post on Facebook, Instagram, Twitter and YouTube.

Consider paid promotion

Almost all social media networks allow you to buy some form of paid advertising. Most allow you to target your ads to specific demographics meaning you can target your desired audience. 

Using paid advertising allows you to reach desired and relevant audiences that you wouldn’t normally connect with. They can build brand recognition, promote particular posts/videos, or even to sell products.

Use influencer marketing

Influencers are leaders in social media trends. Working with influencers not only increases brand awareness, but provides social proof. Consumers are more likely to trust and connect with real humans over brands. By having an influencer promote your brand, consumers will begin associating your brand with the connection they already have with an influencer. 

You should use influencers that resonate with your audience, have the same values and similar messaging. This shows audiences that the partnership is authentic and not just a money-grab opportunity.

FAQs

What is a social media marketing strategy?

A social media marketing strategy is a document that outlines your social media goals, the steps you will take to achieve said goals and the key social media metrics to track to measure your progress.

Why do you need a social media strategy?

The impact of social media on businesses can be huge. A social media strategy can help businesses: 

1. Increase brand awareness
2. Build engaged online communities
3. Promote products and services using native social commerce
4. Measure social media statistics and sentiment through social listening 
5. Provide local customer services

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@ Socially Powerful

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