As more companies integrate social media into their marketing and communications plans, emphasis needs to be on creating a social media strategy.  Without a strategy, you’ll undoubtedly be sucked into a social media time sink.

So how exactly do you develop this strategy?

It’s easy.  Here’s a practical approach to developing a social media strategy for your business.

The Prerequisite

Do you work for a large company? Before you develop your strategy, make sure your upper-management team believes in social media and that the first goal is not to sell, sell, sell.  In other words, if your business is jumping into social media because “everyone else is doing it” or because you want to sell product rather than to build relationships, please step away from social media.  Social media is a long-term commitment and not a marketing gimmick.

If you’re having a tough time convincing your team that social media needs to be integrated into your marketing plan, then counter any concerns with these responses to common social media objections.

It’s important for the organization to understand that testing and experimentation are keys to success.  This comes naturally to an organization whose culture embraces being proactive and open.  The reason why all businesses need to have a social media strategy is because it prevents any misunderstandings and emphasizes why social media is relevant to your business’ overall goals.

Now let's develop your social media business strategy, shall we?

Here are seven key points to consider…

#1: Determine Your Goals and Objectives

Determine who owns social media.  Whether it’s marketing, PR, or communications is irrelevant.  In a perfect social media world for businesses, social media instills a collaborative approach and breaks down silos.

What’s important is to understand your social media goals and objectives and how they tie into your overall company goals.

Keep it Specific, Measurable, Attainable, Realistic/Relevant, and Timely (aka be SMART!).

#2: Research, Research, and Research Some More

Rather than jumping into the social media pool with both feet, do the equivalent of the “splash-water-on-self” maneuver so you know what to expect.  Step two of creating an effective social media strategy is research.

• Develop a list of social media sites where you can potentially engage with people.  The list will most likely start off with Twitter, Facebook, LinkedIn, and a few select blogs and forums.
• Check out each of the social media sites on your list and do additional research to determine relevancy by searching for your brand name, your competitors, and your target keywords.  Listen to what’s out there, identify, and understand your target audience.

#3: Create a Digital Rolodex of Contacts and Content

When social media is done correctly, relationships will build naturally.  Begin making connections by following the conversation.  You can do this by subscribing to blogs in your industry and by making a list of influencers who are relevant to your business.

This becomes handy when it’s time to provide content on your social networks.  Read Emily Proctor’s article in which she provides some excellent pointers on a social media content strategy.

#4: Join the Conversation to Develop Relationships

Now it’s time to start making use of all the research you’ve done.  You can start joining the conversation by posting comments on blogs and forums, answering questions on Yahoo! and LinkedIn, joining groups related to your industry and joining Twitter chats.

Begin developing relationships by following and friending influencers and those in your industry.  Don’t just look for people with thousands of followers; you’ll be surprised by the value that someone with only a couple of hundred followers provides.  Here’s an article on how to network on Twitter.

#5: Strengthen Relationships

It’s easy to hide behind your avatar or profile picture, but face-to-face is incredibly powerful.  I think more people are now realizing how underrated the in-person interaction really is because of how far social media has come, allowing so many people to “hide.”

Attend offline events related to your industry—not only to strengthen your knowledge base but also to network and strengthen relationships with those you might have conversed with via social media but never met in person.  A popular offline event is known as a tweetup.

#6: Measure Results

You have goals and objectives, right?  That means you should be able to measure  your success.

Remember, what you measure will tie into the goals and objectives of your social media strategy.

Let’s take the four commonly used objectives:

• Improve brand presence across social channels—The measurement goal here is an increase in the number of followers on Twitter, number of fans on Facebook, number of comments, number of times your brand is mentioned in blogs and forums and so on.
• Increase positive sentiment about your brand—The goal here is to convert the number of positive mentions while taking note of negative mentions.  Has the ratio of positive to negative comments improved?  With the good comes the bad in social media. Get used to it!
• Develop relationships for future partnership opportunities—This goal is to keep track of those with whom you’ve connected.  For example, if you met a potential speaker for your webinar, include that person into your digital Rolodex.  If a vendor contacts you through your blog, capture that lead and take note.
• Increase traffic to your website—Keep track of visitors to your website who come from each of your social media sites.  If you’re promoting an event using social media, consider using a unique code to track the campaign.

Measuring social media is a never-ending debate.  What metrics do you use to measure social media?  What objective are you measuring those metrics for?

When it comes to measuring social media, it takes a multitude of metrics as well as trending reports to get a sense of what to improve.

#7: Analyze, Adapt, and Improve

Your social media strategy doesn’t end with measurement; it goes beyond that.  You need to analyze your social media campaigns, adapt any new findings into your current processes, and improve your efforts.

Testing and experimentation will perfect your social media efforts.

As you dive deeper into the never-ending pool of social media, you’ll quickly understand what works and what doesn’t.

More specifically, you’ll develop favorite tools to use, realize that there are certain days and times where it doesn’t pay to be active in social media, and come to the conclusion that you still have lots to learn.  It’s a wonderful new world and I hope many of you are as thrilled to be part of it as I am.

Conclusion

Social media strategies will vary for each business and for each industry.  However, one thing is clear: social media needs to have “all hands on deck” in order to be successfully integrated into your company’s goals and objectives.

In general, I view social media as a strategy, not a tactic. I consider the social media platforms like blogs, Twitter, Facebook, etc., as tactics that tie into the social media strategy.  In other words, outline your social media strategy and support your strategy with tactics.  Without a carefully thought-out plan, you’ll eventually be overwhelmed with social media and even worse, get burnt out by it.  Use this guide as a stepping-stone to your social media success.  Cheers!

What are your thoughts about strategy versus tactics? Do you have any tips from your own experience developing a social media plan?  Please share your thoughts in the comments box below.

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]]> http://www.socialmediaexaminer.com/7-steps-for-a-successful-social-media-strategy/feed/ 30 http://www.socialmediaexaminer.com/study-shows-time-pays-with-social-media-marketing/ http://www.socialmediaexaminer.com/study-shows-time-pays-with-social-media-marketing/#comments Fri, 21 May 2010 12:00:49 +0000 Amy Porterfield http://www.socialmediaexaminer.com/?p=3370 Have you asked this question: Is the time I invest with social media really worth it?  Whether you’re new or an old hat with social media, chances are you’ve wondered if the time commitment is really worth the return on investment (ROI).

Make no mistake about it:  a true investment of time and resources is necessary to see significant social media marketing success.

But the real question is, “Just HOW MUCH time is needed to see solid success?”

This question was recently answered in the new study, 2010 Social Media Marketing Industry Report, authored by Michael Stelzner.  Based on the report findings, ROI is top of mind for most marketers using social media.

Top Social Media Questions Marketers Want Answered

According to the data, the number-one question marketers most want answered is how to track social media ROI.  A sampling of questions includes:

• How can I tell a convincing story to management about the ROI for social media marketing?
• What are the key metrics to follow for measuring ROI in terms of customer satisfaction, revenues and brand loyalty?
• How effective is social media versus the resources needed to maintain the effort?
• Are there any industry benchmarks that track the impact of social media marketing?

In the 2009 study, the number-one question from marketers was related to social media tactics, followed by ROI.  Now tactics have moved down considerably and the ROI question has moved up.  One reason for this could be that social media is maturing and more people have started using the tools and tactics.  Now they want to know if the long-term payoff for their time and resources is really there.

Time Versus Return for Social Media Marketing

When looking at ROI, you also have to look closely at just how much time you’re investing.  Unlike some other traditional forms of marketing, when it comes to social media, your investment is more time than money.

The industry report results shed some light on the amount of time marketers are really spending on social media marketing.

Out of the 1900 marketers’ responses, almost all were using social media for marketing purposes and the majority of these marketers were fairly new in the social media area.

• 91% of respondents indicated they were employing social media for marketing purposes.
• 65% of marketers have either just started or have been using social media for only a few months.

When drilling down to the actual hours spent using social media tools, the largest group was in the 1 to 5 hours per week range.  Of that group, 43% are spending 4 to 5 hours each week on social media activities. A significant 56% of marketers are using social media for 6 hours or more each week and 30% for 11 or more hours weekly.  It’s interesting to note that 12.5% of marketers spend more than 20 hours each week on social media.

This chart shows the overall breakdown of marketers’ time spent using social sites.

But even more interesting than the time spent on social media marketing, the report also showed a correlation between the amount of user experience and the time spent using social media tools. The median weekly time commitment for beginners was 1 hour versus 10 hours for those doing this for a few months or longer. Because 65% of respondents indicated they were newbies or just a few months in, much of their time spent on social sites could be more trial and error than solid strategy. Perhaps the difference in time spent using social tools is because the marketers who have the most experience also have more well-defined social media strategies, allowing them a clear plan of action on the social sites.

Just like with anything else, experience is golden.  The more user experience one has with social media marketing, the more valuable every minute spent on social media sites becomes.  The time spent on social sites is not as important as the actual results.  What we really should be looking at is what kind of results are you getting for that 1 hour, 4 hours, even 12 hours per week?

Top Benefits of Social Media

When the respondents were asked about the benefits they’ve received from social media marketing, there were some clear winners that stood out above the rest.  When looking at ROI on social media marketing, money in the bank can’t be your only indicator of success.  Increased traffic, lead generation and happy, connected customers all are factors in deciding which social media strategies are working best for your business.

According to the survey, the number-one benefit of social media marketing is greater exposure (85%).  Improving traffic and building new partnerships followed next.  More than half of marketers indicated a rise in search engine rankings was a benefit of social media marketing.  The report states, “As search engine rankings improve, so will business exposure, lead generation efforts and a reduction in overall marketing expenses.  More than half of marketers found social media generated qualified leads.”

This chart shows how respondents viewed the benefits of social media marketing.

Outsourcing Social Media

Because time and ROI are such a central focus for many marketers, it was surprising to see that very few were outsourcing their social media efforts.  According to the report, some factors may be that social media outsourcing is fairly new and the majority of respondents were new to social media, perhaps yet unaware of what they should and should not be outsourcing.

The chart below shows how the majority of marketers are not outsourcing their social media activity.

Where we’re seeing the outsourcing trend is in the larger organizations.  According to the report, “the larger the organization, the more likely outsourcing is taking place.  For example, 25.7% of large businesses and 25% of mid-sized businesses are currently outsourcing, compared to only 10.6% of sole proprietors.”  Like many marketing trends, what starts with the “big guys” tends to make its way to the smaller businesses—therefore, we may be seeing more outsourcing overall in the coming year.

Check out the full report here.

Now it’s your turn!  Do you feel your time using social media marketing is worth the return? Does your own experience match up with the results? Share here—we want to hear from you!

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]]> http://www.socialmediaexaminer.com/study-shows-time-pays-with-social-media-marketing/feed/ 2 http://www.socialmediaexaminer.com/7-ways-to-overcome-the-social-media-time-sink/ http://www.socialmediaexaminer.com/7-ways-to-overcome-the-social-media-time-sink/#comments Thu, 22 Oct 2009 12:00:10 +0000 Cindy King http://www.socialmediaexaminer.com/?p=418 Many business owners and marketing professionals respond to the social media buzz with what Olivier Blanchard calls the “Social Media Terror Syndrome“—a wait and see approach.  The next barrier is often a lack of time.  And the focus becomes “how do I avoid the social media time suck?”

Here are 7 steps to help you overcome the time dilemma.

1. Set One Specific Social Media Objective

One of the reasons why people waste time on social media is because their objectives are:

• Not clearly linked to their business strategy
• Inappropriate for the environment of social media

Don’t be surprised if you find you need to participate in social media for a little while before you find the right way to use it for your business objectives.  Take the time to observe your audience and learn how to connect with them on social media.

Read the Social Media Marketing Report to understand how other marketers are using social media.

Return on time investment: Before you see any return on your time investment in social media, you need know what your business can get out of it.

Don’t jump into social media with both feet and no business objective. Develop your social media presence with one clearly defined business objective in mind.

2. Find the Right Social Media Strategy for Your Business

This is what Mari Smith, the Pied Piper of Facebook, says: “The main reason people fail in social media is lack of a strategy. There’s so much confusing and conflicting advice out there, it’s easy to get lost in the social media jungle. By having a clear objective, developing a strategy to accomplish that objective, and measuring milestones along the way, you’re bound to have better results.”

• What can you say on social media that would interest your audience?
• How should you say it?
• Where should you say it?

Many businesses choose to use a blog as their central social media hub.  A pivotal role is played by what Authority Blogger Chris Garrett calls Flagship Content. The truth is that your social media strategy needs to be tailored to the particular message you want to convey to your audience.

Return on time investment: When you include a clear objective in the social media strategy most appropriate for your business, it boosts your overall marketing strategy.

Don’t waste time using other people’s social media tactics. Find a social media strategy that connects your business to your audience.

3. Make Your Presence Social

Once you have defined your social media strategy, the process does not end there.  It will only work if your presence is truly social and, as Rebecca Leaman says, you need to also “focus on being good online neighbors.”

A good resource to find out how to connect with your audience is Groundswell. And for ideas in creating the valuable content your business needs on social media, Jay Baer gives 7 steps to get your message right.

Return on time investment: The right message aligned with your business objective in a social media marketing strategy can save your business time spent elsewhere on sales and marketing. 

Don’t waste time sending inappropriate messages. Find the right message for your business and, above all, be social.

4. Stay Focused on Your Business Strategy

Social media can be a particularly dangerous time waster because:

• It is a social environment.
• Businesses need to create a social presence and it can be hard to find the balance between business and social.

Don’t fall into traps when adapting your marketing to social media. As Chris Brogan says, the question of friending and reputation “is difficult in the face-to-face world, but it’s even harder online.”

Return on time investment: Social media marketing creates stronger relationships with the people in your market.  You can use it to build trust and loyalty with more people and in less time than with most other marketing tactics.

Don’t waste time by getting sidetracked. Adapt social media to work for your business.

5. Adopt Social Media One Step at a Time

Amber Naslund says trying to be everywhere on social media is a big time waster. Social media is made up of numerous different places where people hang out, and these places all have different environments.  You cannot try to be everywhere all at once and know how to act and what to say.  You need to take things slowly:

• Research to find out where your business should be present.
• Observe and learn what to say.
• Listen and learn how to adapt to each different site.

Be sure to add your own social touch to all of your social media communication. Have a look at Chris Brogan’s social media task suggestions.  Look at them closely and you will see how these tasks add extra value to his marketing strategy as a whole.

Return on time investment: When you choose your actions wisely and add some social juice to them, they can give you back much more than you put in.

Don’t try to jump into all social media platforms at once. Find the social media sites that work best for your business.

6. Get Extra Mileage Out of Your Social Media Marketing

Many businesses look at what the social media “stars” are doing and think they would never have the time to do the same thing.  Here is the scoop: You need to get into social media before you can fully understand how your time spent can multiply in value.

Once you get your basic social media presence up and running, something very interesting happens.  You begin to see little things to do to get a much wider presence on social media.

Return on time investment: The good news is that you can get extra mileage out of your daily social media actions as soon as you begin.  One of the very first things you need to do when you begin marketing using social media is to set up professional listening activities.  The time you spend on this aspect alone usually adds much more value to your overall sales and marketing activities than you can imagine.

Don’t waste opportunities for more visibility and buzz. Adopt the social attitude.

7. Avoid Social Media’s Fatal Attraction: The Shiny Bells and Whistles

The truth is that there is a lot of movement in the social media arena.  New social media tools, applications and platforms hit the news every week.  And you just do not know who the key players will be this time next year.  It’s natural for businesses to hesitate in investing time in such a climate.

Return on time investment:  The key is to focus on developing social skills and to integrate these into your marketing strategy.  This is how you can spend your time wisely and be well-prepared as:

• Marketing becomes social
• Media habits change

Don’t focus on the social media tools. Focus on developing the social skills you need for your business to create a strong social presence.

Use Social Media to Add Extra Value to Your Current Marketing Strategy

Social media helps businesses to create stronger relationships with their clients; for instance, by creating trust agents.  This trust factor can be so powerful it removes the question of time investment.

Social media marketing can save your business time when it is included within your overall marketing plan.  When you add the ability to build trust, social media becomes a powerful marketing tactic not to be ignored.

These are just some examples of how to integrate social media into an overall marketing strategy to save businesses time.  What other tips do you have? Please share them in the comment section below.

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