As platforms like Facebook, Twitter, and Instagram took off, social media transformed not only the way we connect with one another but also the way businesses are able to influence consumer behavior—from promoting content that drives engagement to extract geographic, demographic, and personal information that makes messaging resonate with users.
SMM Action Plan: The more targeted your social media marketing (SMM) strategy is, the more effective it will be. Hootsuite, a leading software provider in the social media management space, recommends the following action plan to build an SMM campaign that has an execution framework as well as performance metrics:5
- Align SMM goals to clear business objectives
- Learn your target customer (age, location, income, job title, industry, interests)
- Conduct a competitive analysis on your competition (successes and failures)
- Audit your current SMM (successes and failures)
- Create a calendar for SMM content delivery
- Create best-in-class content
- Track performance and adjust SMM strategy as needed
Customer Relationship Management (CRM): Compared to traditional marketing, social media marketing has several distinct advantages, including the fact that SMM has two kinds of interaction that enable targeted customer relationship management (CRM) tools: both customer-to-customer and firm-to-customer. In other words, while traditional marketing tracks customer value primarily by capturing purchase activity, SMM can track customer value both directly (through purchases) and indirectly (through product referrals).
Shareable Content: Businesses can also convert the amplified interconnectedness of SMM into the creation of “sticky” content, the marketing term for attractive content that engages customers at first glance, gets them to purchase products, and then makes them want to share the content. This kind of word-of-mouth advertising not only reaches an otherwise inaccessible audience, but also carries the implicit endorsement of someone the recipient knows and trusts—which makes the creation of shareable content one of the most important ways that social media marketing drives growth.
Earned Media: Social media marketing (SMM) is also the most efficient way for a business to reap the benefits of another kind of earned media (a term for brand exposure from any method other than paid advertising): customer-created product reviews and recommendations.
Viral Marketing: Another SMM strategy that relies on the audience to generate the message is viral marketing, a sales technique that attempts to trigger the rapid spread of word-of-mouth product information. Once a marketing message is being shared with the general public far beyond the original target audience, it is considered viral—a very simple and inexpensive way to promote sales.6
Customer Segmentation: Because customer segmentation is much more refined on social media marketing (SMM) than on traditional marketing channels, companies can ensure they focus their marketing resources on their exact target audiences.
Tracking Metrics
According to Sprout Social, the most important social media marketing (SMM) metrics to track are focused on the customer: engagement (likes, comments, shares, clicks); impressions (how many times a post shows up); reach/virality (how many unique views an SMM post has); share of voice (how far a brand reaches in the online sphere); referrals (how a user lands on a site); and conversions (when a user makes a purchase on a site). However, another very important metric is focused on the business: response rate/time (how often and how fast the business responds to customer messages).7
When a business is trying to determine which metrics to track in the sea of data that social media generates, the rule is always to align each business goal to a relevant metric. If your business goal is to grow conversions from an SMM campaign by 15% within three months, then use a social media analytics tool that measures the effectiveness of your campaign against that specific target
