How to Create a Social Media Strategy for Your Business

In today’s day and age, everyone knows that you need to leverage the internet for your business to stay ahead.

Everyone’s constantly on their phones and when it comes to looking for new products to try, they’ll usually look to different search engines to tell them where to find the next big thing.

Once search engine results are in, it won’t be surprising to see that there’s more than one company offering the same services or products. This means that you’ll need to battle it out with your competitors through pricing, branding, and content.

In research conducted by Statista, the annual amount spent on social media is at 150 billion USD as of 2022, and it’s projected to only go higher from there. Indicating that social media show no signs of slowing down, making it crucial that you find your footing to keep your business on everyone’s minds.

We’ve made this article to help you understand how to create an effective social media strategy for your business.

Let’s get started!

Formulating SMART Goals

You’ve probably already heard of SMART goals before, but if you haven’t SMART stands for Specific, Measurable, Attainable, Realistic, and Time-bound. When you set goals that are SMART, you’re making objectives that can clearly set the direction for your business.

One way to set goals for your social media strategy is to ask yourself these questions:

• Which part of the sales funnel are you focusing on? Awareness, engagement, conversions, or the consumer?
• Who is your target audience?
• What are your competitors doing?
• What software/tools are available to you?
• When do you want to accomplish these goals?
• What are your KPIs?

Once you’ve got your answers, you can focus on the “how” of executing the strategy. But, to monitor your progress, you’ll need to understand key social media metrics.

Listed below are some metrics you can consider:

Reach

Reach is an awareness metric that tells you how many people see your content. Based on your reach, you can see which type of media reaches the most amount of your followers and non-followers.

Impressions

Impressions are the number of times people have seen your content. You can have a lower reach but a higher impression because someone is looking at your content more than once.
This can indicate that your content is eye-catching.

Audience Growth Rate

Your audience growth rate is dependent on the new followers you’ve acquired within a certain amount of time.

Engagement Rate

Engagement rate is an engagement metric that counts the number of actions taken with your content. So, this is the total number of likes, shares, and comments your content gets depending on the number of your audience.

Amplification Rate

The amplification rate is the number of times your audience has shared your content with their followers.

Click-Through Rate (CTR)

If you’re using ads for your business, the click-through rate is the metric that measures the number of clicks you get on your ad per impression.

Conversion Rate

Conversion rate is the number of people who followed your sales funnel all the way to the end. This can be in the form of purchasing a product, signing up for a newsletter, or availing of services.

Video Views

If you’re using the video as one of your preferred media, you’ll want to know how many people are watching them. Video view is the number of people watching your content, but each social media channel measures this metric differently.

Video Completion Rate

The video completion rate is one of the most important metrics for video makers. This is the number of people who watch your content till the end. YouTube prefers using this metric to determine if the videos you’re creating are helpful and thus, help you rank higher on its search engine.

Customer Satisfaction

When it comes to calculating customer satisfaction, there are several ways to do so. Here are a few of them:

• Customer Satisfaction Score (CSAT)
• Net Promoter Score (NPS)
• Customer Service Satisfaction (CSS)
• Customer Effort Score (CES)
• Customer Reviews

One of the best parts about social media is that you can use it as a way of interacting with your customers.

So, once you have the data you need to know about customer satisfaction you can implement changes in your process to guarantee an effective customer service platform in social media.

Taking Note of Your Target Audience

When you create content, you want to know who you’re talking to so you know how to address them. This means narrowing down your target audience to a certain demographic and connecting with them, using the social media channels that they prefer using, and what kind of products they’re looking for.

Assessing the competition

While originality is the name of the game, it also pays to take a look at the content your competitors are putting out. That way, you can idolize their top-performing posts, dissect them, and apply the driving principles behind them to your business.

You can use your competitors as a benchmark for your content strategy. See how many times they post in a week, the type of content they make, and the channels that they utilize.

Enhancing your profiles

Once you’ve selected and set up your social media pages, you’ll need to keep them updated about your business details such as your location, services/products, and contact information. Keep your social media pages as informative as possible so your customers can easily find you.

As a bonus, keeping your social media profiles updated can also help search engines list your business during localized searches.

Scheduling Your Materials

Creating a calendar not only guarantees that you stay on track with all your content, but it can also help your contributors prepare content according to any events and promotions you’ll want to have. For example, if you have any product launches coming up, you can indicate them here and have your team prepare content to excite your customers.

Aside from brand events and promotions, there are also the usual holidays and sales that you may want to use for content.

Scheduling your social media content is a sure way to guarantee the timeliness and consistency of your posts. It also keeps contributors sticking to strict deadlines.

Creating Helpful Content

When you’re looking to create content, you’ll want to structure your content to be appealing to that channel. So, whether you’re creating Instagram posts or ideating for TikTok videos, you’ll want to ensure that it piques the curiosity of your target market through value-laden posts.

Although, this step can prove to be difficult especially if you have to do it consistently, which is why some businesses choose to outsource this part of the job to social media agencies.

Evaluating Your Campaign Performance

After some time, you’ll need to evaluate how your strategy is doing through the KPIs you’ve set at the start of the campaign. Social media software has an information trove for your company’s data, so you can pull your campaign performance from there and assess its success.

So, if you’re looking to increase customer satisfaction through social media or aiming to increase engagement, it’s time to sit down with your data and see how well you fared.

This is an essential step in guaranteeing the effectiveness of your campaign.

Making Adjustments to Your Strategy

Once you’ve got your campaign performance data, it’s time to zoom into its high and low points. Looking at both the high and low points of your campaign can be an excellent way to see which content is working and what isn’t.

That way, you can emulate high-performing content and apply its techniques to your future campaign.

Getting the Tools You Need

We hope that you learned how to make a digital campaign strategy and are gearing up to roll it out as we speak.

Just remember that when you’re trying to make your digital assets stand out, you’ll want to make sure that you have a strategy that can stand the test of updates. That being said, you’ll need to ensure that every part of the work that you do is built to last.

TalkBitz can guide you through maximizing your digital growth and bringing your social media channels to their highest potential.

Don’t miss out on all the great guides this blog has to offer about social media!

From optimizing your profile to creating engaging content, this blog has all the information you need to succeed on social media.

Check them out today!