Social Media Strategy Guide: Benefits, Challenges & Goals
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Social media is no longer optional for businesses, but should be an integral piece in their overall marketing strategy. If you’re not already using social media for your business, or feel like your social media marketing isn’t successful, this presentation is for you. You’ll learn the benefits of social media marketing and how to overcome the challenges it can present to your business. Why your business needs a social media strategy and what should be included in it. How to measure your business’s success on social media and determine ROI. Finally, why social media should be integrated with your larger business and marketing goals.
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Social Media Strategy Guide: Benefits, Challenges & Goals
- 2. @KaGray Kathy Gray @polepositionmkg BENEFITS & CHALLENGES OF SOCIAL MEDIA
- 3. WHY SOCIAL MEDIA @PolePositionMkg Social media is integrated in our daily lives BENEFITS & CHALLENGES OF SOCIAL MEDIA http://www.jeffbullas.com/2014/01/17/20-social-media-facts-and-statistics-you-should-know-in-2014/
- 4. WHY SOCIAL MEDIA @PolePositionMkg Social media adoption continues to increase BENEFITS & CHALLENGES OF SOCIAL MEDIA http://www.pewinternet.org/2015/01/09/social-media-update-2014/
- 5. WHY SOCIAL MEDIA @PolePositionMkg Benefits of social media BENEFITS & CHALLENGES OF SOCIAL MEDIA Branding Customer Loyalty Reputation Authority Website Traffic Search Rankings Purchasing Decisions ROI
- 6. WHY SOCIAL MEDIA @PolePositionMkg Challenges of social media BENEFITS & CHALLENGES OF SOCIAL MEDIA Time Knowledge Money
- 7. @KaGray Kathy Gray @polepositionmkg CREATE A SOCIAL STRATEGY
- 8. WHY SOCIAL MEDIA @PolePositionMkg Avoid social media ADD CREATE A SOCIAL STRATEGY SQUIRREL!?!
- 9. WHY SOCIAL MEDIA @PolePositionMkg Know your audience CREATE A SOCIAL STRATEGY
- 10. WHY SOCIAL MEDIA @PolePositionMkg Create SMART goals CREATE A SOCIAL STRATEGY Specific Measurable Attainable Results-based Time-based
- 11. WHY SOCIAL MEDIA @PolePositionMkg Types of social media goals CREATE A SOCIAL STRATEGY Branding Loyalty Reputation Management Customer Service Authority & Thought Leadership Website Traffic Sales & Leads
- 12. WHY SOCIAL MEDIA @PolePositionMkg Bad Goal: Collect fans like beanie babies CREATE A SOCIAL STRATEGY
- 13. WHY SOCIAL MEDIA @PolePositionMkg Better Goal: Consistently respond to questions and feedback within 1 hour. CREATE A SOCIAL STRATEGY
- 14. WHY SOCIAL MEDIA @PolePositionMkg Outline tactics to achieve goals CREATE A SOCIAL STRATEGY
- 16. WHY SOCIAL MEDIA @PolePositionMkg Tie goals to metrics to measure success MEASURE RESULTS Branding & Loyalty • Mentions • Comments • Likes • Shares Reputation • Reviews • Brand mentions Authority • Brand mentions • Personal brand mentions Website Traffic • Social referral traffic • Organic search traffic Purchasing Decisions • Leads • Conversions • Sales • Repeat business
- 17. WHY SOCIAL MEDIA @PolePositionMkg Tools to track metrics MEASURE RESULTS • Comments | Likes | Shares Engagement • Mentions | Reviews Brand • Social referral traffic | Organic search trafficWebsite • Leads | Sales | Repeat business Purchasing Decision Google Analytics eCommerce In-store Google Analytics Mention Social Mention Google Alerts Networks Network Analytics True Social Metrics Scheduling Tools
- 18. @KaGray Kathy Gray @polepositionmkg REMEMBER: SOCIAL MEDIA IS RENTED SPACE
- 19. WHY SOCIAL MEDIA @PolePositionMkg Blog to attract social traffic to your website REMEMBER: SOCIAL MEDIA IS RENTED SPACE Write Blog Posts Link Back to Blog Promote Blog Posts on Social Media
- 20. WHY SOCIAL MEDIA @PolePositionMkg Convert social traffic with email marketing REMEMBER: SOCIAL MEDIA IS RENTED SPACE Sales Social Media Landing Page Lead Gen Form Email $ $ $ $ $ $ $ $ $ • Email subscribers are more likely to convert • “Own” your list rather than “renting” on social media • Continue to “touch” subscribers via email AND social media
- 21. WHY SOCIAL MEDIA @PolePositionMkg Build a strong brand to weather the storms REMEMBER: SOCIAL MEDIA IS RENTED SPACE MySpace, anyone?
- 22. WHY SOCIAL MEDIA @PolePositionMkg WebMarketingChecklist.com Thank You! Kathy Gray Social Media Marketing Strategist kathy@polepositionmarketing.com @kagray
Hinweis der Redaktion
- Hello, this is Kathy Gray, social media marketing strategist for Pole Position Marketing and today we’re going to be talking about why you should use social media for your business. Let’s get started.
- First, I think it’s important to explore some of the benefits and challenges of social media. Many businesses jump into social media without a plan or even knowing what it takes to sustain success social media marketing.
- I remember comments when social media first became a hot topic--business owners saying it was just a fad, it would pass, there’s no need to get involved. Social media has really become a part of our everyday lives. Yes, there are still some hold outs who don’t use it, but for an increasing number of people social media has become a form of communication secondary in nature like email, texting or picking up the phone.
- Adoption of social media only continues to increase. Pew Internet Research publishes a great study every year on social media adoption and behavior. As you can see, over the past 3 years, usage only continues to rise. It’s also interesting to note that the percentage of internet users using only one site is decreasing while we’re seeing an increase in those using two, three, four and even five sites. Social media is evolving, but it’s not going anywhere.
- So what are the benefits of social media for your business? Social media often doesn’t lead to a direct sale, it’s not the direct sales pitch. How does it benefit a business then?
- These are the three biggest challenges of social media for businesses and the biggest stumbling blocks towards success.
- How are we going to overcome the challenges and reap the benefits of social media? By creating a sound social media strategy. To run a marathon, you prepare, you train, you have a strategy as to how you’re going to complete the goal. You don’t show up on race day, with no prep, no training and finish a marathon. Well, unless you’re six, cute as a button, and they let you count running the last block and across the finish line with your uncle.
- Aside from the challenges mentioned before, a social media strategy is also going to help you avoid the all-too-common pitfall of social media ADD. I think every marketer has been there at some point. Oooh! New network! Shiny! Let’s forget our goals and run after it! Everyone is saying it’s the hot new thing! It’s like an industrial manufacturer wanting to use Pinterest, because all of the “experts” are saying it’s great for referral traffic. It is great for referral traffic. But it’s only great for referral traffic if your ideal customers are there and actively engaging in the platform. A strategy that defines your goals, who your ideal customers are, which social networks they use, and tactics to achieve your business goals will help you avoid social media ADD. When that new shiny channel comes along, you can go back to the social media strategy and ask yourself if this new platform is going to help you achieve your goals or just distract you.
- Know thy audience. Know thy audience. Know thy audience. Who are you trying to reach? Is it the nerdy kid, the fashionista, or the biker? Develop well-though-out buyer personas for your ideal customers. Who are they? What age are they? What gender? Where do they live? What are their likes and dislikes? Where do they hangout online? What resources do they consult to make important buying decisions? If you’re B2B, you want to outline their job titles, industries, trade associations, industry publications, etc. In our library at PolePostionMarketing.com, you can download a buyer persona worksheet which will help you define each of your ideal customers.
- We want to be smart about our social media strategy, so we will create smart goals.
- To get our brains working, let’s took a look at some of the types of social media goals.
- What’s a bad goal? Collecting fans like beanie babies. Maybe I’m dating myself with this slide, but in the late 90’s Beanie Babies were a hot commodity. I worked at a drug store during college that sold them and when we got a new shipment in, we would have women lined up in front of the door before we opened for the day. This was in a town of 1,000 people. It was like the people who camp out overnight for a new iPhone, except this was a $6 stuffed animal. People went crazy for collecting these things. As an employee I could buy one of the new releases before we’d open the doors. I did. And I turned around and sold them in our local classifieds to these crazed collectors. I sold Iggy the Iguana for $75. They helped pay for my text books. Thank you, crazy Beanie Baby collectors for my education. Fast forward 15 years. The Beanie Babies are practically worthless. I buy all of the above Beanies, who had the tag protectors and were never played with for $5 at a garage sale for my kids. Including Iggy the Iguana. The moral of this story? Don’t go crazy buying fans. What does the fan count really mean to your bottom line? Who are these fans that you’re buying? Sure you can go to FBSkip.com and buy 1,000 likes for $25. But who are these people? Do they even care about your business? Will they ever use your products? Fan growth is important, but over the long haul 100 legitimate fans who care about your business are going to be worth a lot more than 1,000 strangers. But even those 100 legitimate fans will be as worthless as Beanie Babies in 15 years if you don’t engage them. I use this as an example of a bad goal, because too many businesses focus too much attention on fan growth and not how those fans are engaging with their brand.
- 72% of consumers expect a brand response within an hour on Twitter when complaining. 24% of consumers expect a reply within 30 minutes for either positive or negative inquiries. As time goes on this window will only get smaller. If you’re a company with a very active consumer base on social media, what’s a better goal than collecting fans like Beanie Babies? A goal that’s SMART. This is a customer service related goal. Consistently respond to questions and feedback within 1 hr. You can measure it, you can track it, and increased customer service will have a positive impact on your business’ bottom line.
- You want to outline the tactics in your strategy that are gong to help you achieve each of the goals in your social media strategy—keeping in mind the amount of time and resources you have available. The opportunities are limitless on social media and it’s easy to lay out grand plans of all the things you could do. Keep it realistic. So with the example goal of consistently responding to questions and feedback on social media within 1 hr. Here are the tactics we can use.
- We know our audience, we’ve decided on SMART goals and outlined tactics to achieve them. What next? We need to outline how we are going to measure success so that we don’t go into analysis paralysis and can effectively show the C-suite the impact and results of your marketing.
- We need to tie goals to metrics to measure success. These are examples of general metrics that can be tracked and tied to goals. The more specific your goals are, the easier it will be to measure success. When you get to this stage, you may want to go back to your goals and see how you can make them more specific. If your goals is to increase website traffic from Pinterest, what increase are you looking for? 5,10,15%? If it’s leads is it 5 leads or 100? I worked with a lawyer specializing in turnaround management. If he got 5 leads in a year from social media and one converted, it more than paid for all of his marketing efforts for the entire year. Your metrics need to be applicable and realistic for your business and industry.
- How are we going to track these metrics? Here are examples of metrics and the tools you can use to collect them.
- When we think social media, we often think Facebook, Twitter, Instagram, Pinterest, LinkedIn, and only inside of those networks. The danger with social media activity only on those networks is that you don’t own your space. You’re essentially renting space on them. How are you going to connect your activity on this rented space to your owned real estate?
- Blogging is a great way to engage your audience on rented space with your owned space. I’m talking a blog on your website. Tumblr, Medium and the other blogging platforms outside your website have their place, but with a blog on your website you totally own and control the space. They can serve as a great way to attract social traffic to your website and into your sales funnel. You own the interaction when it happens on your website’s blog.
- Email marketing has a higher conversion rate than social media. It takes less buy-in on the part of the consumer to like or follow you on social media than it does to give you their email address. It’s like moving from a first date or second date to calling someone your girlfriend or boyfriend. Once they take the relationship to the next step and give you their email address, they’re getting even closer to the final step of marriage or conversion. (explain funnel)
- Marketing doesn’t begin and end with social media. It doesn’t begin and end online. Building a strong brand throughout all of your marketing channels both online and offline will ensure that your followers will follow you when networks fade away and others come into favor.
- Have questions or thoughts? Give me a shout! You can find me on Twitter at @kagray or email me at Kathy@polepositionmarketing.com.