The Importance of Social Media Strategy in Modern Business

Let us throw open this discussion with a basic question “What is Social Media Strategy?” Simply speaking, Social Media Strategy explains the manner in which an organization will utilize social media to fulfil its communication goals and also defines the tools and platform that it will use to support this process. It is also a statement that outlines the aims and objectives, along with the intent of using social media and the result you expect to achieve. Of course, social media works in conjunction with various other channels without isolating itself and it is also executed by considering the overall business plan of the organisation.

As every professional social media marketing company in Mumbai will endorse, a plan is essential for success but without a strategy in place, it is difficult to prioritise the activities to put this plan in action. Every business needs to have social media strategy. Period. But the key is to have an actionable strategy, one that understands your clients and is instrumental in speaking to them in the language they are familiar with. The best of strategies are built around creating content, conversations and conversions.
Since your competition and a huge majority of your customers are actively involved and if you are not a part of social media, you will not be able to influence the discussion that goes on. Also it is difficult to manage your online brand reputation, if you are unaware of what’s being said about you, while ensuring that your message is being heard by the right people.

Let us now look at the main reasons why your organization needs a well-planned Social Media Strategy:
The social web is growing and how
As per the latest research data on social media usage, there are two primary factors that drive social web:
• Mobile: People accessing the internet using the mobile while at home or office or while travelling, is increasing dramatically.
• Older Users acceptance: The quickest growing demographic on Twitter is the age group of 55-64 years while 45-54 years age bracket is the fastest one for Facebook and Google+.

Since improved mobile connectivity and faster internet speeds have increased social activities like connecting to friends, updating and sharing content has increased dramatically. By creating a targeted social media strategy, you can focus on relevant areas to address customers, present and future.

Social Media is influencing purchase decisions
Audience building and engagement was a primary focus a few years back while the present era is leaning heavily towards customization and commerce. Every social platform has made massive investments in their advertising solutions hoping to entice marketers by promising smart targeting and better APIs, not to forget the capacity to carry out specialised marketing campaigns. Facebook APIs help marketers to manage audience information, build personalized dashboards, create adverts and campaigns and manage their assets like pages, accounts, etc.

A large majority of potential customers make use of the social platforms to validate their choices and an equally large audience depends on the reviews and recommendations these platforms offer. However, it is important to understand the fine differences between each social network and the role they play in the purchase cycle. A clear strategy has to be in place otherwise it will be difficult to understand what roles these networks can play during the buying cycle. For all you know, you could be losing out on potential sales or targeting the wrong audience in the first place itself.

Social networks- a double-edged sword
Social networks are capable of building your reputation as a brand and destroying it too. Social media has been responsible for providing a face and a voice to brands that were previously unheard of. This not only gave these names a platform to display their qualities but also removed the ambiguity that existed, making it transparent. However, social media can also fuel anger and provide a platform to voice discontent which may be misplaced at times.

The Power of peer recommendation
One potential buyer will always rely on the word of a fellow customer and this kind of peer influence can push conversion rates and sales. Retailers should pay attention to customer reviews and ratings provided by them, as a prospect on the verge of a purchase can tilt either way and this could be the difference between a sale and a bounce.

Expert opinions also matter a lot, especially when the purchase of high-end electronics or audio-visual equipment is involved. Brand credibility is also enhanced by getting experts to review your product as customers take their opinion quite seriously.

Providers of SEO services in Mumbai always stress on having a strategy in place as taking a decision of how to connect to the customer is not a tactical question but needs strategic thinking. Without this strategy, there is a risk of inefficiency and failure.

Leave a Reply