How To Cultivate A Competitive Social Media Strategy

Social Media Strategy

Yes, social media continues to seemingly become more complicated and complex almost on the daily, with new apps popping up constantly with even more challenging algorithms to conquer. But we are now in 2021, and your brand should not only have a social media presence these days, you should also know how to take advantage of social channels to grow your business and improve the overall performance of your company. If you are leaving your social media strategy on the backburner, you’re missing out on vital opportunities for growth and success.

Just like in any other facet of marketing, having a strong strategy powering your operation is crucial to being competitive in social media. Consider brands who are killing it on social media with consistently strong engagement from their audience whose following and presence continue to grow and gain their brand acclaim and recognition. You can be sure they have a succinct and effective strategy guiding them with a deep understanding of their goals, as well as how to successfully leverage social channels to reach those goals. 

If you are looking to elevate your social media strategy for 2021, read on to explore our helpful guide with must-know tips and information to reach your social media marketing objectives. 

Set Realistic Goals For Your Business

Let’s put it this way. Not every company will need to or should approach social media the same way.  Depending on the vertical of business your company is in and your company’s unique needs, you will use social media differently. Consider a company in B2B SaaS vs consumer jewelry. These two drastically different companies will of course have varying goals for their social media, but also will likely use social media very differently as well to achieve those goals. 

The best approach for building a strong social media strategy is by asking yourself what you actually want and need from social media. 

Do you want to cultivate a large and loyal following with a bustling, deeply engaged community? Maybe you’re looking to use your social channels to drive traffic back to your site to amp up revenue and profits. 

Knowing the specific goals you want to achieve using your social media will define the core of your content and social strategy, determine what kinds of campaigns you will need to run, what kinds of content you will create and even how much time and focus you will need to place on your social media strategy. 

Know Your Audience

You know the secret to a strong and effective content strategy? An extensive understanding of your audience including their wants, needs, challenges and pain points. Same goes for your social media content strategy. Get to really know your audience and build a comprehensive analysis of who they are with insight into things like their age, location, average income, interests, the kinds of jobs or industries they are in, etc. Having this knowledge on a deep level will help you transform followers on your social channels into customers for your business. 

Just like you would create personas for your customers to develop content strategy for your website, and blogs, etc., you will also need personas for your target audience on social media.  Check out our article on how to build a brand voice where we dive into building personas for your audience. 

After you have zeroed in to who your audience is, consider which social channels offer the best platform for engaging with those types of people. If you are a company in B2B SaaS, LinkedIn would probably be a great platform for you to interact and drive conversations with your community, while Instagram would likely be the better option for you instead to foster engagement with an audience of millennials if you own a young women’s online fashion boutique. 

Focus on the Key Metrics and KPIs for Your Business

Harnessing the power of data is imperative to building an effective social media strategy.  Therefore, it is crucial that you have a strong understanding of what social metrics will matter most to your business. 

We go into way more depth of these in our last article that features a guide on social media analytics. But, let’s take a quick look at a few of the most important metrics here in this breakdown below:

Reach: Reach refers to how many eyes you received on your post, or simply, the number of people who saw your post. Is your content barely reaching the most local level of your social media users, or is it traveling and transcending a larger portion of your audience? 

Clicks: This simply refers to the amount of clicks your social posts received. It is crucial to monitor your clicks to determine what kind of content your audience is actually responding to and actively engaging with.

Engagement: While this concept is core to your overall social media marketing strategy, it is also a fundamental metric with its own formula! It is equivalent to the total number of social interactions divided by the number of impressions. This metric will help you gain insight into how your audience perceives you, the trust and loyalty you are building with them and how likely they will be to interact with your content. 

Hashtag performance: This metric refers to a quick analysis of your most frequently used hashtags, Which hashtags are working for you in terms of gaining traction and engagement? Hashtags are crucial in helping you continue to shape your future content strategy.  

Cohesive and Consistent Content Creation

Of course, there’s no surprise here that your content will be the driving force behind your social media strategy. You may have all other elements of your social strategy down, but without engaging and effective content, your social media operation will fail to serve you as well. 

So, how do you develop strong content for your social channels?  By maintaining a cohesive style, tone of voice and theme that will help you not only stand out from your competitors, but also be immediately recognizable to your audience. Your audience should look at one of your social posts and be able to identify exactly who you are, and your offerings and know what they can expect from your brand moving forward as well. This is vital to building trust and loyalty with your community. 

Beyond your voice in your captions, messaging and graphics, the theme and format of your content is also key to maintaining a consistent content strategy. Consider the kind of layout you would like your social posts to follow, the kind of color scheme to maintain and type of imagery that will make the most sense for your brand, as well as will resonate the best with your target audience. In terms of imagery and media you may post, you may alternate between engaging memes and product photos, as well as post videos and live streams, for example. 

You can refer to various social media management tools to help you cultivate a strong and unified content theme for your company as well as continue helping you refine your content strategy.

As you can see, developing an effective social media strategy is incredibly multi-faceted, intricate and involved. But here at Firon Marketing, digital marketing is who we are, what we live and breathe, and social media strategy is one of our strongest areas of expertise. 

Reach out to us today to continue the conversation, so we can help you transform your brand’s social channels and enable you to achieve new heights of performance and success.

Victoria Hernandez