How to Build a Social Media Strategy

In this day and age, everyone knows that you need to take advantage of the internet to keep your business ahead.

Everyone is always on their phones and when it comes to looking for new products to try, they will usually look to different search engines to tell them where to find the next big product.

Once the search engine results appear, it is not surprising if there is more than one company offering the same service or product. This means you have to compete with your competitors through pricing, branding, and content.

In research conducted by Statista, the the annual amount spent on social media reaches 150 billion USD in 2022, and is expected to continue to increase after that. Showing that social media shows no signs of slowing down, it’s important for you to find your footing to keep your business top of mind.

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

Let’s start!

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Formulate SMART Goals

You’ve probably heard of SMART goals before, but in case you haven’t, SMART stands for Specific, Measurable, Attainable, Realistic, and Time-bound. When you set SMART goals, you create goals that can clearly determine the direction of your business.

One way to set your social media strategy goals is to ask yourself the following questions:

  • Which part of the sales funnel do you focus on? Awareness, engagement, conversion or consumer?
  • Who is your target audience?
  • What are your competitors doing?
  • What software/tools are available to you?
  • When do you want to achieve this goal?
  • What are your KPIs?

Once you have the answer, you can focus on “how” to execute the strategy. However, to monitor your progress, you need to understand key social media metrics.

Listed below are some metrics you may want to consider:

Reach

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

Impressions

Impressions are the number of times people see your content. You can have lower reach but higher impressions because someone sees your content more than once.
This can show that your content is interesting.

Audience Growth Rate

Your audience growth rate depends on the new followers you gain within a certain time period.

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 size of your audience.

Amplification Rate

Amplification rate is the number of times your audience shares your content with their followers.

Click-Through Rate (CTR)

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

Conversion rate

Conversion rate is the number of people who follow your sales funnel to the end. This could be in the form of purchasing a product, signing up for a newsletter, or utilizing a service.

Video Viewing

If you use video as one of your media of choice, you’ll want to know how many people are watching it. Video views are the number of people who watch your content, but each social media channel measures this metric differently.

Video Completion Rate

Video completion rate is one of the most important metrics for video creators. This is the number of people who watched your content until the end. YouTube prefers to use this metric to determine whether the videos you create are useful and thus, help you rank higher in its search engine.

Customer satisfaction

Customer satisfaction

In calculating customer satisfaction, there are several ways to do it. Here are some 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 to interact with your customers.

So, once you have the data you need to know about customer satisfaction, you can implement changes in your processes to ensure effectiveness customer service platforms on social media.

Note down your target audience

When you create content, you want to know who you’re talking to so you know how to handle it. This means narrowing your target audience to a specific demographic and connecting with them, using the social media channels they prefer, and what types of products they are looking for.

Assess the competition

While originality is the name of the game, it’s also a good idea to look at the content your competitors are putting out. That way, you can idolize their best-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 a week, the type of content they create, and the channels they use.

Improve your profile

Once you have selected and set up your social media pages, you should keep them up to date with your business details such as location, services/products, and contact information. Keep your social media pages as informative as possible so customers can easily find you.

As a bonus, updating your social media profiles can also help search engines list your business during local searches.

Scheduling Your Materials

Creating a calendar not only ensures you stay on top of your content, but can also help your contributors prepare content according to any events and promotions you want to host. For example, if you have an upcoming product launch, you can show it here and have your team prepare content to attract your customers.

In addition to brand events and promotions, there are also regular holidays and sales that you might want to use for content.

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

Create Useful Content

When you want to create content, you should structure the content to appeal to the channel. So, whether you’re creating an Instagram post or coming up with an idea for a TikTok video, you’ll want to make sure that it piques the curiosity of your target market through a value-packed post.

That said, this step can 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 agency.

Evaluate Your Campaign Performance

Evaluate your campaign performance

After some time, you need to evaluate the performance of your strategy through the KPIs you have set at the start of the campaign. Social media software has a repository of information for your company data, so you can pull your campaign performance from there and assess its success.

So, if you want to increase customer satisfaction through social media or want to increase engagement, it’s time to look at your data and see how well you are doing.

This is an important step in ensuring the effectiveness of your campaign.

Making Adjustments to Your Strategy

Once you’ve got your campaign performance data, it’s time to zoom in on its high and low points. Looking at your campaign’s strengths and weaknesses can be a great way to see what content is working and what isn’t.

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

Getting the Tools You Need

We hope you learned how to create a digital campaign strategy and are ready to launch it today.

Keep in mind that when you’re trying to make your digital assets stand out, you’ll want to make sure you have a strategy that can stand the test of updates. Therefore, you must ensure that every piece of work you do is built to last.

TalkBitz can guide you in maximizing 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 it out today!

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