Question

How does a business develop an engaging social media strategy? If you're interested in exploring how businesses apply the potential of social media to their overall brand marketing and communication strategies, prepare a report on how to engage with an effective social media strategy. Social media technology shapes the business world in many ways as older platforms fade and newer platforms emerge. As platforms wax and wane in popularity, what social media channels are critical for businesses today? Be sure to provide examples of companies that have crafted a unique and competitively differentiated business model around social media as well as companies that have not done so well on social media. After conducting research, make a persuasive argument on the best strategy to engage an audience utilizing social media.

Based on the scenario above create an abstract and introduction.

Answer 1

Developing and engaging social media strategy

Abstract

The report illustrates steps being taken by companies to create an engaging social media strategy. To engage the social media strategies, companies set smart goals that are specific and measurable. These goals are also attainable as well as relevant. Time duration is also attached with the goals of social media marketing. The second step is to use social media metrics. For example to grow the awareness of a brand, companies consider metric of followers numbers. Engagement with the brand requires metrics such as likes and comments received by followers. Similarly, to measure the achievement of objective such as sales, clicks and signups are chosen as metrics. The next step requires knowing the audience and for this purpose, creating audience persona is considered by the companies. In the next step, companies collect real data about the use of different platforms by target customers. For example, if a company intends to target millennials, it should know the social sites where this customer segment visits most. Competition activities should also be known by the company to develop an engaging social media strategy as their activities can assist to know what customers expect. The next step requires preparing an audit of social media marketing effort to know what works and what does not. This audit can help to know who are the actual audience and from what network, this audience comes. Audit also assists to understand performance of a company against competitors. These steps can ensure that what kind of networks need to be chosen and how to gain maximum from social media accounts. Generally the most preferred social media channels are Face book, Twitter, YouTube, Instagram, Pintarest, and Yelp. These channels have wide reach and many people visit these social media sites daily. Thus, advertising on these social media channels provide good exposure to the brands.

Many companies are using the social media marketing strategy successfully. Dominos is one example of using social media marketing strategy successfully. Nike Company is another example that earns good returns by using social media. But some companies also failed such as LG mocking Apple products or McDonald using new mascot hastag. Common reasons of failure in social media marketing do not understand the needs of customers, not choosing right channels to target the customers, etc. one successful company that creates a unique business model is Nike who communicates with innovative ways to allure customers.

Thus, the best strategy to engage the audience is to provide customized messages for the target audience while analyzing their needs and choosing those channels wisely where the target audience or target customers arrive regularly. With these steps, auditing of social media marketing strategy must be done to improve the content and messages effectiveness.

Introduction

Social media as a tool for marketing is significant as proliferation of social media marketing impacts the business world. Social media provides an interactive platform for the people whom companies target. Thus, it is imperative for the companies to gain the benefit of social media marketing. Due to interactivity of social media, these companies receive important suggestions from customers and make them co-creator of products and services. Therefore, relevance of developing an effective social media strategy is highly desired.

answered by: anonymous