Why Is A Social Media Strategy Important For My Business?
The development of a strategic social media plan is a foundation that every business should seriously consider. Every successful business owner will tell you that a well-thought strategy is the key to any successful campaign or business initiative.
If you’re just “winging it”, you’re likely wasting valuable capital, time, and resources that would better be used elsewhere. To avoid this, take the time to clarify your brand and vision, and invest in the development of a detailed tactical plan to guide your social media efforts.
This will ensure that you and your team have a clear idea of how to move forward, what the expected outcome is, and how to go about measuring and achieving it.
What does all that mean? In short, you’ll make more money, faster, and easier!
If that sounds like something you’re interested in, keep reading and let’s get into how to correctly develop a social media strategy that works!
Developing Your Social Media Strategy
Before you start developing anything, let me first explain that there are actually two parts to any successful social media strategy. The first being a social media discovery, followed by a social media discovery brief, and the second being the strategy itself.
What is a “Social Media Discovery”?
Remember when I said a strategy is the foundation of any business initiative? Well, the discovery is the foundation of your strategy! Discovery is where you’ll clearly define your brand, your target audience, competitors, etc. and determine how you want to position yourself in the market. Most importantly, it’s where you’ll set your initial goals and objectives, deciding what you want from social media. This is something we do for every new client, and it takes the form of a 2-hour conversation either in person or via video conference.
The Discovery Brief
Once you’ve had some time to discuss and think about your business, brand, and determined what you want out of social media, it’s time to put that together in the form of a document also known as the Discovery brief. This is also something we do for our clients usually within 48 hours of completing the initial discovery session. The purpose of the brief is to take everything discussed in the initial discovery and spend some time researching and going deeper into a variety of the topics. Such as researching your competition and developing a competitive analysis.
A Discovery Brief consists of the basic, but highly specific and useful information about your business. Suits Social calls this a “Discovery Brief” because it’s all about learning (or discovering) more about your business and going beyond a name and product. As such, the process becomes more about discovering the value and untapped opportunities in your business as opposed to simply reviewing what you already know. We want to dig deep into what your company is, does, and why it does it. In this formal and organized document, ask yourself these questions:
What exactly is my business (Define in detail)?
What are my top 3 goals and objectives?
What is my value proposition?
What is my positioning in the marketplace?
Who and where is my ideal target customer, and how do I reach them?
Who are my competitors, what are they doing good/bad?
Knowing the answer to these questions are crucial to developing a powerful social media strategy and exponentially growing your business on social media.
The Social Media Strategy
A social media strategy is different from the Discovery Brief in that it clearly provides tactical step by step actions that will be taken to achieve your goals and objectives. Creating a clear path to reach those objectives and goals for your business.
To put it simply, this forward-looking dynamic plan outlines what you need to do, how you need to do it, how long it will take, what it will cost, and what you’ll get out of it. From when and what to post to detailed ad campaigns, and community management protocol.
Developing a detailed social media strategy minimizes the future risk of failure and consequences by keeping your efforts organized and manageable. When we develop a social media strategy for our clients, it typically runs between 25 to 30 pages and typically includes in the following items:
Action items for each goal and objective.
Budgets, timelines, and expectations.
Detailed buyer personas and messaging strategy.
Community and reputation management plan.
Organic content strategy:
Creative media examples
Types of posts, contests, challenges, etc.
Media collection plan
Paid media plan (Advertising):
Target market research
Ad campaign outlines
Detailed targeting including location, age, interests, and more.
Ad creatives and copy.
Spending & expected ROI.
Why we do this
Going through the Discovery process and developing a social media strategy creates an overall clearer performance of your ideas, minimizes weaknesses and threats, and opens new opportunities to reach your objectives and goals for your business.
Every business should have a clear, organized Discovery Brief and social media Strategy that guides their efforts and budgets. Not only are they useful in the present, but they are useful to use as a reflection later when measuring campaigns, objectives, and determining what worked or didn’t work for your business allowing you to constantly improve results and increase your chances of success over time.