Social media strategy, what the heck?

Many Chief Marketing Officers (CMO’s) are struggling to know where to begin with social media; What channels (Twitter, Facebook etc.,) will work for them? How will they engage their audience? What budget should be set? How will they effectively build a trusting relationship with the consumer?

As Winston Churchill once said “He who fails to plan is planning to fail”

Social media is a complex environment but one that provides an exciting opportunity to build trusting relationships with consumers that has never been seen in any previous decade. When you think that 73% of users prefer to interact with their favorite brands through social media and that Facebook reaches two thirds of all online Australians each month, and half the total Australian population, well hello! I would be taking this seriously.

This space is about people to people interaction, people talking about products, companies and their experience with the brand. This is an environment that is influenced by the opinions of others, and combined with effective ad campaigns and marketing can create a powerful mix of commerce connecting with community. This will produce a trusting relationship that will mean over time companies that are effective in this space will be at the top of the leader board for sales and brand loyalty.

When developing a social media strategy it should be carefully planned and then professionally executed. In essence strategy in social media should be concerned with the alignment with the companies purpose; governance; auditing the landscape and developing key execution strategies; agreed measures of success and regular monitoring. The strategy should be aimed at maximizing impact for the company. When considering return on investment (ROI) companies need to understand that this is not an immediate and direct line to sales, building a trusting relationship takes time and whilst this will be the ultimate ‘pay off’ it needs a strategic investment.

“All men can see these tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved” Sun Tzu

A social media strategy is developing your ‘social media game plan’, its setting a course that is parallel with the new wave of social interaction. When embarking on this journey it’s difficult to find experts, people who know the space because it’s all happening so fast and its all so new. It’s important to do your homework and find people who are working in social media and who understand strategy, this will take the stress out of the process and make sure that you have an effective social media game plan.

Socialite Media and Words That Express have combined social media and strategy expertise to HELP companies navigate the complexities of social media and develop a plan that is relevant, unique and effective in design and implementation. To learn more go to www.socialitemedia.com.au/strategy

 
Tenille Bentley and Clare Allen, Socialite Media