How To Create A Successful Social Media Strategy

Katharina Urlbauer / 1302012

Social Media In Marketing 10. November 2013

Abstract 10. November 2013 Bachelor of Arts Author or authors Katharina Urlbauer / 1302012 Title of report How To Create A Successful Social Media Strategy Teacher/s or supervisor/s Johanna Heinonen Group or year of entry 2013 Number of pages and appendices

Keywords Social Media, Marketing, Strategies

Table of contents
1! Introduction ............................................................................................................................1! 2! Marketing and Social Media ..................................................................................................2! 2.1! Marketing ........................................................................................................................2! 2.1.1! Definition............................................................................................................2! Marketing is a social and managerial process by which indiviudals and groups obtain what they need and want through reating and exchanging products and value with others. ...........................2! 2.1.2! Basic information ..............................................................................................2! 2.2! Social media ....................................................................................................................4! 3! Social Media Strategy .............................................................................................................5! 3.1! Corporate planning .......................................................................................................5! 3.2! Analysis ...........................................................................................................................6! 3.2.1! SWOT .................................................................................................................6! 3.2.2! Portfolio/ BCG- Matrix ...................................................................................6! 3.3! Platforms.........................................................................................................................7! 3.4! Testing & Changing ......................................................................................................7! Bibliography .................................................................................................................................9!

1 Introduction
Marketing with out using the new technology? IMPOSSIBLE. Not using the social media networks is like Lapland with out snow for me. Nowadays I barely know someone who does not use any social networks, personal friends and also most small businesses have at least a Facebook account. It just seems so simple to connect with people and is cheaper than an advertisement in the newspapers or a TV spot on the television. But also marketing in the Internet should be planned to be successful. The following illustration should once more show you the big role social media has in our life.

2
1

Marketing and Social Media

Before starting to set up a marketing strategy it is useful to know some basic information about marketing and it the case of the social media strategy about social media in gerneral aswell. Therefore in this chapter gives a short introducution in these two aspects. 2.1 Marketing

2.1.1 Definition

Marketing is a social and managerial process by which indiviudals and groups obtain what they need and want through reating and exchanging products and value with others.1 Marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.2 2.1.2 Basic information The two definitions above however do not describe everything of what marketing is all about. In order to reach that point, when the customer makes the decision and chooses one product and not the other marketing was done right. The originally marketing -mix consists of 4Ps: Product, Place, Price and Promotion. Nowadays the enhanced marketing mix (from 4 to 7 Ps) plays a more and more important role. The added 3ps are: Personnel, Physical Evidence and Process. Those 7 Ps cover all questions and aspects a company should think of to be successful with their product/service. In the following illustration further details to each P can be found.

1 2

Principles of Marketing, p.7 Principles of Marketing, p.7

Overview- 7P Marketing Mix 3

google pictures

2.2 Social media The definition underneath is a short explanation and a reminder on what social media is and gives some example on what channels could be used. A term used to describe a variety of Web-based platforms, applications and technologies that enable people to socially interact with one another online. Some examples of social media sites and applications include Facebook, YouTube, Del.icio.us, Twitter, Digg, blogs and other sites that have content based on user participation and user-generated content (UGC).4

webopedia.com

3 Social Media Strategy

Like for every strategy plan, if it is online like it the case it is explained in this report or if it is a marketing strategy plan in general there are several steps which need to be done. In the Internet as well in books many different and sometimes similar instructions on building a strategy plan can be found. Since many companies are unique however the firm has to create their own plan with the right tools (e.g. social media). The following guidelines are examples and basic steps every company should to before starting their (social media/ marketing) work. 3.1 Corporate planning

Before setting up a marketing plan and investing much money and time the company should know its goals. What do the want to achieve with that campaign and what is the aim in general? In order to be able to measure if the goal was reached the goals need to be concrete. The SMART method is one effective way to create such aims. SMART is an acronym and stand for:

Specific Measureable Attainable Realistic Timeable5

The goal must correspond to all 5 aspects. One example for social media marketing could be: Getting 500 Likes after a new post of the new product within 7 days. In general the costs should always be kept in mind, even if it is for social media work, the person(s) who take care of the social media marketing do not work for free too.

topachivement.com

3.2

Analysis

3.2.1 SWOT The SWOT analysis is an (internal) company analysis. SWOT in also an acronym and stands for:

Strength Weakness Opportunities Threats6

With this tool the companies find out where they still need to work on, what their strength are and how the can use the (e.g. USP) and what their opportunities are. With the threats they also know what they need to be aware. This tool is also helpful for the next step, the BCG analysis. 3.2.2 Portfolio/ BCG- Matrix

mindtools.com

With this tool you combine the market review, competitors and the company itself/ products etc. By mapping competitors on the right position (depending on the market) you will see where your company is located, what your chances are and what steps should be done (e.g. invest or not). In order to map the other companies you have to research and evaluate the market and the competitors. 3.3 Platforms

Before choosing a platform you should know whom you would like to reach and what message you would like to send. Do you want to promote a new product or do you want to offer a service (e.g. customer support, FAQ, live chats etc.). Although many social media platforms are similar you can reach different people by choosing the right one. Furthermore you can also use more than just one channel. A video clip e.g. on YouTube can also be posted on vimeo.com, myvideo.com or the link shared on social networks like Facebook, MySpace or LinkedIn. Just keep in mind that the more channel you use the more work you have and that sometimes less is more and with some little tricks, like posting on rush hour is also an effective way to reach more customers. Additionally you should also keep the risks of the Internet in mind- everything spreads very quickly. 3.4 Testing & Changing In the beginning you should try and find out if the plan you created with the analysis tools and more works out. As a starter a calendar when to post on which channel and when to check if the goal was reach might be helpful. This calendar can be similar to a timetable in school or a gang chart in the Event Management. When the deadline passed you go and check if you archived your SMART goal. If yes, it is good and you can either think of keeping this strategy or if the result was even better than expected you can even think of raising the aim next time. However if you did not reach your goal you should find out why you did not reach it. Was your goal not SMART or did you choose the wrong platforms, or is the strategy in to-

jthawes.com

tal not working? In that case you have to reconsider the strategy and e.g. create a new one.

Bibliography
1.) Principles of marketing, 5th europen edition, Philip Kotler, Gary Armstrong, Veronica Wong and John Saunders; ISBN: 978-0-273-71156-8 2.) Principles of marketing, 5th europen edition, Philip Kotler, Gary Armstrong, Veronica Wong and John Saunders; ISBN: 978-0-273-71156-8 3.)http://www.google.com/imgres?client=safari&sa=X&rls=en&biw=1280&bih=738 &tbm=isch&tbnid=I2i8B79RXpN_rM:&imgrefurl=http://businessfundas.com/2011/the-8-ps-of-servicesmarketing/&docid=XYFVhLfezRtzwM&imgurl=http://business-fundas.com/wpcontent/uploads/2011/03/marketing-mix7P.jpg&w=655&h=644&ei=9W9_UveJE6mt4AS71ICIDQ&zoom=1 4.) http://www.webopedia.com/TERM/S/social_media.html 5.) http://topachievement.com/smart.html 6.) http://www.mindtools.com/pages/article/newTMC_05.htm 7.) http://www.jthawes.com/BCGmatrix.html Further Information: http://socialmediatoday.com/johnatrapidan/1714501/executing-your-socialmedia-marketing-strategy-7-hot-tips http://www.socialmediaexplorer.com/social-media-marketing/5-steps-todetermine-the-perfect-social-media-strategy/ http://www.experto.de/b2b/marketing/kmu-marketing/in-7-schritten-eineerfolgreiche-marketingplanung-durchfuehren.html http://de.pons.eu/dict/search/results/?q=marktbersicht&l=deen&in=&lf=d e Course Material International School of Management, Dortmund o Marketing SS2013 Alexander Schimansky o Servicemanagement SS2013- Frauke Bender