Start with a plan before you begin creating social media marketing campaigns, consider your business’s goals. Starting a social media marketing campaign without a social strategy in mind is like wandering around a forest without a map—you might have fun, but you’ll probably get lost.
Social Media Marketing Plan for Business
Social media marketing (SMM) is being increasingly used by business to engage current and prospective customers, raise brand awareness, promote a positive corporate image, and encourage sales of products and services.
The practice of SMM is relatively new but has exploded over the last decade with the development of popular social media channels like Facebook, Twitter, and YouTube. There are three characteristics that define SMM: it is rich, interactive, and up-to-date.
The richness of SMM comes from the wealth of content that can be offered, coupled with the ability of the consumer to choose how much or little of it to access.
SMM is interactive because the information presented can be easily changed or adapted based on the response of a consumer. Finally, messages can be put together quickly and disseminated through various social media platforms, making it an up-to-date marketing tool. Despite its many benefits, critics of SMM maintain that it is ineffective as a marketing
Here are some questions to ask when defining your social media marketing business goals:
What are you hoping to achieve through social media marketing?
Who is your target audience?
Where would your target audience hang out and how would they use social media?
What message do you want to send to your audience with social media marketing?
Your business type should inform and drive your social media marketing strategy. Example of a drone company doing social media marketing on Instagram. For example, an e-commerce or travel business, being highly visual, can get a lot of value from a strong presence on Instagram or Pinterest.
A social media business plan will help you meet your marketing goals, such as, increasing website traffic, building conversions, raising brand awareness, creating a brand identity and positive brand association. Improving communication and interaction with key audiences. The bigger and more engaged your audience is on social media networks, the easier it will be for you to achieve every other marketing goal on your list!
Why is it important for a company to identify social media marketing business goals?
A well-developed strategy produces more powerful social media marketing campaigns. Audience research, determining objectives and identifying the key metrics to track are the most important steps. In addition, aligning strategies with business goals is critical for developing a viable marketing plan.
How to Monetize Your Social Media
Branding is one of the most important aspects of any business, large or small, retail. An effective brand strategy gives you a major edge in increasingly competitive markets.
A successful brand is an identifiable product, service, person or place, augmented in such a way that the buyer or user perceives relevant, unique added values which match their needs most closely. Furthermore, its success results from being able to sustain those added values in the face of competition.
A brand name is a term, symbol or design that distinguishes one seller’s product from another. The strategic considerations for naming a brand are:
The brand name should fit the overall marketing objectives of the firm
An estimate of the internal and external forces such as critical success factor (also known as the unique selling proposition)
As with marketing objectives, the overall intentions of the brand need to be specified
Brand strategy alternatives.
The other ways of achieving the brand’s objectives and the other factors involved in its success have a bearing on the choice of brand name.
Brands should have some or all the following characteristics:
1). Should be shocking or eye-catching
2). They should connect to the products positioning in relation to the consumer’s perception
3). They should contain a visual image to which the consumer can connect to and reminds them of the product
4). They should communicate the use or purpose or advantages of the product
5). They should encourage the development of a nickname Telephone/directory friendly Semiotics (symbolism conveyed by objects or words)
Brands are important symbols often using more than one sign system to create meaning; the brand name, the logo, the color and the design of the packaging all contribute.
How then do you “brand” a product?
A brand is a perceptual entity that is rooted but reflects the perceptions and idiosyncrasies of consumers.
- A) Branding is endowing products and services with the power of a brand.
- B) Branding is all about creating differences between products.
C)Marketers need to teach consumers “who” the product is,“what” the product does, and “why” consumers should care. D)Branding involves creating mental structures and helping consumers organize their knowledge about products and services in a way that clarifies their decision-making and provides value to the firm.
E). For branding strategies to be successful and brand value to be created, consumers must be convinced there are meaningful differences among brands in the product or service category.
F). Marketers can apply to brand virtually anywhere a consumer has a choice.
G). A brand can be a product, service, store, person, place, an organization, or an idea.
Defining Brand Equity
Brand equity is the added value endowed to products and services.
A)It may be reflected in the way consumers think, feel, and act with respect to the brand, as well as in the prices, market share, and profitability the brand commands.
B)Marketers and researchers use various perspectives to study brand equity.
C)Customer-based brand equity is thus the differential effect brand knowledge has on consumer response to the marketing of that brand.
D)A brand has positive customer-based brand equity when consumers react more favorably to a product and the way it is marketed when the brand is identified, than when it is not identified.
E)A brand has negative customer-based brand equity if consumers react less favorably to marketing activity for the brand under the same circumstances.