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Analyzing How Businesses Develop Effective Marketing Strategies on Social Networking Sites
Monisha S. Cunningham
Mathew Boone
Claflin University

The impact that social media has had on business communication is nothing short of phenomenal. “Embracing social media is no longer a strategic business option, but a necessity, and a huge opportunity”, wrote Argenti (2011). Since the beginning of the age of technology, the internet has proven to be an effective way for business to communicate, whether it be with buyers, sellers, internal, or external staff. The internet is a gateway of information and a quick way to communicate with many different people simultaneously. Information can be sent to anyone, at any time, and at any place. Not long after the spike in the popularity of the internet came the emergence of social media. Social media generally refers to media used to enable social interaction. Social media usually takes place within a social networking site. As defined by Ellison (2008), social network sites are web-based services that allow individuals to construct a public or semi-public profile within a bounded system, articulate a list of other users with whom they share a connection, and view and converse with their list of connections and those made by others within the system. Since their emergence, social network sites such as MySpace, Facebook, and Twitter have attracted millions of users, many of whom use these sites on a daily basis. Furthermore, it is no surprise that businesses have found ways to incorporate social media into their business practices and use it as a powerful medium to reach customers. Businesses of all sizes have learned by now that social media is an essential marketing tool in today's tech-driven environment. With so many people engaging in social media, it is difficult to ignore its potential to help businesses reach out to new and existing clients while spreading the word about their products and services. Most companies have Facebook and Twitter accounts, and many have even joined Instagram, Pinterest and Tumblr to reach an even wider audience. However, just having these accounts is not enough. As Lewis (2010) stated, successful companies must use social media strategically in order to get the most out of it. Tasner (2010) and Folger (2013) both agreed that there are specific steps involved in developing a marketing strategy for use on social media. These steps include identifying objectives and target audience, researching and identifying appropriate platforms, establishing a social media presence, and keeping content vital. In addition, Folger (2013) adds one additional step that consists of the planning of content. The first step in creating a social media strategy is identifying the goals of the business. What does the company hope to achieve? How can social media be used to promote the business. According to Tasner (2010), there are six general ways in which businesses can use social media strategically. These uses include general marketing, selling products and services directly, distributing coupons/offers, generating website traffic, giving customer service, and acquire feedback. When setting those goals, Folger (2013) suggests the “SMART” approach as described in Paul J. Meyer’s 2003 book Attitude is Eveything. According to Meyer (2003), the “SMART” acronym represents goals are specific, in that they state exactly what it is that you want to accomplish. They are measurable, meaning there is a way of evaluating how well you are doing. They should be attainable and not something that is impossible to reach. Goals must be relevant in that they matter and can help a business reach its short and long term goals. Lastly, a goal should be timely and include a deadline for reaching the goal.
Going hand in hand with establishing a social media goal is defining a target audience. Your business may want target a particular age group, ethnicity, gender, race, or people within a certain income range. To do this most businesses look to research organizations that provide useful statistical information on how consumers use social media and what subgroups are more present on them (Lewis, 2010). In support of this Folger (2013) goes on to say that knowing who and how existing and potential customers use social media is an important part of developing an effective social media strategy. The target audience of course will depend on the type of business and the type of goods and/or services provided. Once you have identified you brand and the groups that it would appeal most to, the only thing left to do is find them. The next step in strategic planning is the identification of an appropriate platform. There are dozens of social media platforms that can be used to connect with and engage your current and potential clients. While it may seem like a good idea to cover your bases and have a presence on all of them, Tasner (2010) suggests that it is better to focus on several carefully-selected platforms that match both goals and audience. Three of the biggest social media platforms today are Facebook, LinkedIn, and Twitter. These may be ideal choices but based on what we have learned in the previous step, it is key that the target audience is actively using the platform that you have in mind in order for it to be effective. For example, photos have good impact when posted on Facebook and Instagram, but are less effective on Twitter. Likewise, if your target demographic is men over 65 years old, Pinterest might be a bad choice because research shows that this platform is appealing to women under 50 years old Folger (2013). With that being said, research is key when determining a platform.
Here is where Folger inserts an extra step, content planning. As businesses develop their online presence, it is important to know the type of content that will be delivered and when or how often will it be delivered. Not surprisingly, content type is dependent on business type and corresponding goals. Content should be relevant, fresh, and focus on the customers and not so much the business itself. Content consists of categories, or topics that will be covered, and types, or the format in which it will be delivered. Along with establishing the categories and types of content that you want to deliver, you should determine posting frequency. When deciding how often to post, remember that consistency is key. Posting on a regular basis keeps followers interested (Lewis, 2010).
Once a business has confirmed which platform they will use, it is time to establish a consistent presence across the sites said Tasner (2010). There are two important things to keep in mind, he goes on to say. The first is to be considerate of the rules of the site regarding posting, profiles, links, and etc. The second is to determine the company’s value proposition that the business wants to get across to accomplish its goals. For example, is the focus of the company to drive traffic back to the website? If that’s the case then the company should mention its name and why users should check out their website. Folger (2013) took a slightly different approach by breaking down the steps of establishing a presence into four steps: build, engage, connect, influence. Building refers to creating a profile, connecting involves making connections with the online community, engaging consists of actively participating in online activities, and influencing is used as a way to impact customer decisions.
According to Tasner (2010) and Folger (2013), the final step in developing a business social media strategy is to keep content vital and maintain profiles. Useful content should be posted regularly to keep sites searchable. Business should be keen on what is trending and remain up to date on interests of users, as they change often. With that being said, there should not be an abundance of outdated information. Social media is not a set it and forget it strategy. Not only should business keep their sites up to date but they should maintain interactions within them also. More importantly, it is vital to respond to direct interactions from followers. Customer feedback is extremely useful information for a company and social media is the best medium for obtaining the most uncut, honest opinions. From there it is up to the business to take that information and improve on their products and/or services.
Traditionally, marketing efforts have focused on finding customers through television, radio and print advertisements, direct mail, telemarketing, frequent email blasts and so forth. Today’s businesses can take a different approach. While social media began as a way to connect friends and family, it has become the norm for all types of businesses to have a social media presence. Rather than hunting down clients, businesses can now use social media to make it easier for their potential clients to find them. This approach is less pushy than older marketing techniques, and because social media relies on people being, well, social, it can prove an effective way to spread messages across the Internet. Twigg confirms, “When it comes to recommendations for products and services, people trust other people they know far more than any sophisticated marketing campaign. The more ‘fans’ you create, the more ‘likes’ you motivate and the more ‘shares’ you inspire. As others in your customers’ circles observe what their friends and relatives promote, they will follow suit” (Folger, 2013). As with any business strategy, it is important to have an organized and thoughtful approach to marketing and social media is no different. Once a business learns the strategic ins and outs of marketing via social media, the sky is the limit for their success.

References

Argenti, Paul. (2011). Digital strategies for powerful corporate communications. Retrieved from http://www.europeanfinancialreview.com/?p=2581
Ellison, N. B. (2008). Social network sites: definition, history, and scholarship. Journal of Computer-Mediated Communication, 13, 210-230. doi: 10.1111/j.1083-6101.2007.00393.x
Lewis, A. L. (2010). Social media from a corporate perspective: A content analysis of official Facebook pages. Proceedings of the Academy of Marketing Studies,
16(2), 11-15.
Tasner, M. (2010). Marketing in the moment: the practical guide to using web 3.0 marketing to reach your customers first. Upper Saddle River, NJ: FT Press.
Folger, J. (2013). Implementing a small business social media strategy. Retrieved from http://www.investopedia.com/university/implementing-small-business-social-media-strategy/
Meyer, P. J. (2003). Attitude is everything: if you want to succeed above and beyond. Washington, D.C: Meyer Resource Group, Inc.