Strategies for Social Media: Linking Vision, Mission and Goals With

Metrics
Harold Harlow
Wingate University, Charlotte, USA
h.harlow@wingate.edu
Abstract: An initiative such as social media requires firm-level strategies that should be modified to match the companys
strategic vison, mission and goals. Development of the new ICT (Web 2.0/3.0, collaborative technologies 2.0, social
networking tools, wikis, internal blogging, etc.) asks stakeholders (customers, employees and shareholders as a well as other
interested parties, including competitors) to share knowledge through collaboration and critique in an unfiltered
environment. While this enables instant two-way communication, the clarity and firm performance enhancing usefulness of
the communication is often distorted by lack of fact checking and shouters who control the medium. This paper looks to the
general business strategies and concepts and current academic literature to present how social media has evolved and
connect how social media may differ from the prior approaches to connecting with stakeholders Paper Relevance: This paper
is directed toward the themes of the conference with my approach being one of determining the connections necessary
between firm strategies and performance metrics-especially product innovation and knowledge capture-and gain
measureable results from the use of social media.
Keywords: social media strategies, strategic vision, mission and goals, social media metrics

1. Introduction
This paper discusses and researches how social media strategies are connected to strategic management
theories and how vision, mission and goals of the firm can be aligned with the metrics outcomes of social media.
According to a study by McKinsey and Company, 53% of firms used some form of social media tool (McKinsey,
2012). Kirin & Palmer et al (2012) published their survey findings in an article published in Sloan Management
Review, that 86% of managers think social media will be of vital importance in the next 5 years and Harvard
researchers put the number of firms that either use or plan to use social media in 2014 at 79% (Ennes, 2014).
While all of these statistics point to the perception of value of social media, the business approach has been less
than rigorous in applying strategies and metrics to value these initiatives.

2. Discussion
2.1 Strategic management perspectives
Of particular importance in the social media strategic framework is the understanding that certain viewpoints
are necessary for social media approaches to thrive. Strategic intent, transaction cost theory, an intellectual
capital strategy, social capital theory, knowledge based (KBV) and the resource based view (RBV) of the firm are
the strategy lens by which the new social media strategies are developed. Social media adds value far beyond
product marketing but needs leadership sponsorship to be successful. It can deliver strategic benefits such as
insight and understanding of execution of strategies (Kirin & Palmer et al, 2012).
As proposed by Grant (1991) there is an emerging resource-based view (RBV) of the firm that approaches
strategy formulation in five stages; analyzing the firrms resource base; apparising the firms capabilities;
selecting a strategy; and extending and upgrading the firms pool of resources and capabilities. Another
approach that has been suggested in selection of a firm stratgegy is the knowledge based view which considers
knowledge to be the primary asset of the firm because it is often intangible and is constantly shifting forms in a
brew driven by culture and environment of the firm. The knowledge-based view and the resources based view
of rhe firm are consistent with each other in that the resources of the firm include the knowledge of the firm.
According to Grant (2002); The emerging knowledge-based view of the firm is not a theory of the firm in any
formal sense . Both of these views can be used to clarify the strategies that firms are using in social media and
the increase in knowledge as well as the resources that come with the social media choices are clearly important
as firms select both firm and marketing strategies.
There are four generic level strategies proposed by Porter (1980). These are cost, cost focus, differentiation and
differentiation focus. These strategies form a basis for the new social media strategies as well. Generic strategies
are closely related to the Hamel and Prahalad (1994) core competence models because they target developing

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core competencies for cost leadership, differentiation, and market and product focus. Porters (1998) discussion
of sustainable competitive advantage relates sustainable competitive advantage as the ability to outcompete
other businesses in the chosen industry. Empirical studies of these strategies have been made to determine the
validity of these strategies. The results are that high profitability contains information on investment strategy,
relative cost position, technology leadership, timing of market entry, new product introduction, product quality,
marketing expenditures relative to competitors, characteristics of the market served and market environments,
the nature of competition, barriers to market entry, and operating results and financial performance of each
business (Dess and Davis, 1984). Derived from both the view of the firm (RBV and KBV) and strategy a firm level
business strategy for managing knowledge becomes the essential element in a social media strategy. Gaining
intellectual capital knowledge through the social media strategy and using this knowledge as a continuing
resource becomes the cornerstone for this strategy.
The basic business level strategies mentioned above are modified for social media use but still apply. A
collaborative knowledge-sharing initiative such as social media requires firm-level strategies that are match the
companys strategic vison, mission and goals. Key components of all of the strategy types include scope of the
business or domain, resource deployment in marketing or R&D, asset management or parsimony, degree of
vertical integration, and acquisition of knowledge skills and competencies (Miles and Snow 1978). All of these
strategies are driven by the use of firm-specific competencies gained through effective use of knowledge. These
components also connect strategy and theories applicable to social media processes.
The review of social media strategies must include the resource-based view of the firm.Social media is so often
part of the strategy of the firm to increase knowledge management capabilities and internal skills. Much of
strategy research was until recently centered on the match between the internal capabilities (strengths and
weaknesses of the firm) and the external environment of the firm as described by competitive positioning as
described by Porter (1980) and the resource-based view of the firm which looks at the firm as a set of skills and
capabilities to enhance and improve using investment in human capital and organizational systems to increase
intellectual capital (Srivastava, Fahey, & Christensen, 2001).. From a social media standpoint, this is often the
basic strategy for using social media to capture knowledge and collaborate across the firm internally in an effort
to develop more resources in the form of knowledge and skills.
The role of the firms resources has increasing taken on more importance as the static approach with SWOT has
receded. Advances in this view have occurred and the resource view is part of that advance and is often
associated with older theories of the firm such as Ricardo (1891) and Schumpeter (1942) views on competition,
creative destruction and constant change and profit and is of importance to modern strategists since includes
elements of the modern resource view of the firm as a set of skills and capabilities that can be modified over
time. Both the corporate and the business level of the firm are addressed in their writings and at the corporate
level focus on the role of corporate resources in determining the firms geographical and industrial boundaries
as a transaction cost economizing approach. From the business level, the views of Ricardo and Schumpeter
explore the role of imperfect information, relationship between resources and competition which are all areas
of applicability to social media business models in the 21st century.
Strategic intent is often thought of first as the initiator for a social media changing of the rules strategies. The
techniques concentrate on many of the same advantages that social media strategies bring into operations of a
firm. For instance, changing the rules of the game in social media involves a constant conversation (Twitter,
Facebook) between customers and potential customers and the firm. Social media strategic intent of changing
the rules of engagement means that contact between firm and customers is mostly unfiltered and instant rather
than filtered by sales and marketing and delayed weeks or months as reports are written.
While many businesses are still grappling with the longer-term social media implications, others are developing
social media business level strategies. As a result best practice principles are starting to emerge. Social media
platforms give companies news ways of engaging and surprising their market and stakeholders. Because of the
data that can be generated in the process, qualified leads can be nurtured. Marketing may lead the drive but a
holistic strategy will look at all internal and external e communication channels and techniques. With this in
mind, it is vital to get the big picture of your brand's digital strategy tied down early. Attempting to add social
media as an after-thought simply won't work - and with the pace of change in this area mistakes can be costly.
Several recommendations have been advanced as to the way to develop a digital social media strategy as
follows: content is key; Focus on uniqueness and quality of content first rather than frequency; make the

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information real-time and accessible for staff and users; develop and embrace a social media culture with the
digital natives leading the charge with collaboration and interaction (Bakshoy, 2012).
Businesses are increasingly knowledge business that rely not only on the employees of the firm but also the
customers of the firm. While technology can provide some information, intuition, insight relationships and skills
are the drivers of competitive advantage and intellectual capital that drive the modern firm. Knowledge
management must increasingly extend into the customer domain to maintain up-to-date knowledge about the
market and needs of customers to be relevant as a discipline. Technologies that appear to gather important
information and knowledge as firms expand into social media may miss the salient parts of the conversation that
are important. By expanding the scope of its knowledge management effort to include its customers, however,
a company can gain new knowledge to bolster its service, improve its operation, and accelerate its innovation
(Gorry & Westbrook, 2012).A stated intellectual capital and knowledge management strategy derived from firm
overall strategies becomes more important as firms participate in more turbulent (Ansoff, 1990) environments
such as those using social media. Increased complexity, less visibility to the future and a fast changing
environment create a need for a new and emerging intellectual capital capture strategy for turbulent
environments that includes using the concepts of social capital, network theory and knowledge management
through collaboration to create a social media strategy to capture and develop that intellectual capital. A
companys knowledge management strategy should reflect its competitive strategy: how it creates value for the
customer, how that value supports an economic model and how the people deliver on the value and the
economics (Hansen, Nohria and Tierney 1999)

2.2 Communicating and interpreting the social media results

Application of transaction costs theory has application in social media application in the area of efficient
boundaries of the firm whether or not the transactions associated with social media are efficient in nature or
simply an in-vogue response to competitors. By placing economic costs on each social media transaction, the
value added to customers and return on investment can be estimated and a metric evaluated. Three levels of
analysis has been applied tom the study of the organization. The first takes the scope of the enterprise and
determines how the operations are related to each other. Is the firm a single entity, multi-division or a holding
company? The second part of this analysis looks at the value chain of the firm and determines which activities
should be performed within the firm and which outside the firm and why? The point is to determine efficient
boundaries of the firm and each operating function and unit. The third level of analysis looks at the way that
human resources are organized. The objective is a match between internal governance structures and attributes
of work groups (Mahoney, & Pandian, 1992).

2.3 Strategies for social media-matching vision, mission and goals with metrics
Strategic questions for social media strategies include: (1) What is your business model for revenue and value
creation? ; (2) What is our growth strategy and partnering strategy to generate new users and revenue growth;
(3) Are we a differentiator or low cost provider. Von Krogh, Roos and Kleine (1994) suggest that there are
essentially only two overall strategies to be used and that those two are 1) advancement and 2) survival and
those apply as well in social media. Baer (2014) suggests that businesses create a channel plan only after they
know why theyre active in social at all, and how youll measure social media strategy success should you turn
your attention to the how of Facebook, Twitter, Tumblr and the rest. This channel plan should be distinct, in
that you have a specific, defensible reason for participating (Baer, 2014). Baers (2014) steps for social media
strategies create a number of tactical and strategic questions for a firm strategy but they can summarized as; (a)
technology agnostic, (b) value creation for your customers, (c) listening to customers without filters, (d)
measuring the results of the social media and (e) passion about your products.
These steps create a strategic platform that enable a social media strategic intent incorporates not only Baers
questions but further steps that can be taken as summarized by Murray (2014): the appearance of constantly
evolving social media platforms makes it important to develop social media strategies that are tools agnostic
and develop an overall business strategy, tactical approach and a set of metrics that works best within your
organization. Murray (2014) further suggests eight steps to the development of a social media strategy for
businesses which include: 1) Cross functional team to create a strategy; 2) Listen to Customers; 3) Determine
your goals for awareness, sales; and customer retention; 3) pick one step as a must do; 4) Determine metrics; 5)

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ROI; 6) Target market identification; 7) Product differentiator - are you magic(Disney) or innovation(Apple)?; 8)
Humanize the process?. Not everyone agrees with this order but all steps seem to be relevant.
Social processes have been studied over the past four decades using traditional approaches such as information
diffusion, expert identification and community detection. The focus has been on small group longitudinal
studies. The proliferation of social websites such as Facebook, Twitter, Digg, Flickr and YouTube has provided
ample avenues to researchers to study social processes at very large scales. This is because electronic social data
can be acquired and stored over extended time intervals, and for very large populations. The result is that study
of social processes on a scale of million nodes, that would have been inconceivable a decade ago, is becoming
routine (De Choudhury et al, 2010). This leads companies in the direction of being able to study and understand
big data that would go undetected before social media. The implications strategically are that customers can
be targeted in ways that would not have been possible years ago with a plethora of advertisements that meet
the needs that those targets have and only their needs. Sifting and determining the proper approaches for
information categorization and marketing segment assignment using traditional segments is frequently the
approach that works but discovery of new market niches is constantly changing the customers of interest.
Metrics for social media are difficult to determine and connect to the firms normal expectation of a ROI.
Network effects meant that the strategies of the many social media sites have been to primarily to increase
users at a fast rate to increase the value of the network to each user. While indirect measure abound, the
calculation of which metric applies and how much is the actual return remains elusive (Fisher, 2009). Connecting
even one metric like page views to ROI remains an elusive and moving target of assumptions and indirect
calculations to arrive at added revenue versus social media costs. Seven functional building blocks are: identity,
conversations, sharing, presence, relationships, reputation, and groups. (Kietzmann, Hermkens, McCarthy, &
Silvestre, 2011). The significance of social interaction in exchanging knowledge has been highlighted by Vygotsky
(1962) who proposed a social development theory of learning in a social context. When users exchange
information they create a new culture based on their unique individual characteristics interaction with the
individual characteristics of others on the network to create new culture and ultimately a community. Social
networks create networks of individuals similar in terms of interest and passion for the interchange of the
knowledge on the network that can convene and participate in groups with dynamic and changing rules and
members. Laurillards (1995)
The confusing and often similar steps for development, metrics and new theories need more reliance on prior
work in management to become a coherent and justifiable strategic social media plan for the firm. Social capital
theory provides some much needed insight to the process and possible strategic approaches.

2.4 Social capital theory

Social capital theory has been researched and advanced and is strongly related to the emergence of social media
and its effectiveness in a business context. Social networking lends itself to the creation of social capital by
making durable and lasting links based on customer needs and company value creation. It is not specifically what
each person knows on the network that increases the social capital and the influence of the social network but
the interconnection to other experts and knowledge creators that enables both company response to customer
needs and employee expertness (Florin, Lubatkin, & Schulze (2003). Social capital is presented in research
context as the importance of using social connections and social relations in achieving goals (Ellison, 2007).
Social capital, or resources accessed through such connections and relations, is critical (along with human
capital, or what a person or organization actually possesses) in achieving goals for individuals, social groups,
organizations, and communities. The theory posits "it is who you know," as well as "what you know" that makes
a difference in life and society (Lin, 2002).
Social capital has been connected to the creation of intellectual capital and the connection between the social
media; social capital and the ability to extract knowledge is a key strategic goal of developing social media.
Nahapiet & Ghosha (1998) contribute to this research and indicate a strong relationship between organizational
performance and the following social capital propositions: (1) social capital facilitates the creation of new
intellectual capital; (2) organizations, as institutional settings, are conducive to the development of high levels
of social capital; and (3) it is because of their more dense social capital that firms, within certain limits, have an
advantage over markets in creating and sharing intellectual capital. Hypothesized relationships between
different dimensions of social capital and the main mechanisms and processes are necessary for the creation of

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intellectual capital. Johan and Gran Roos (1998), identify three categories of intellectual capital relationship:
(1) human, (2) infrastructure and (3) innovation; it then looks at the relative importance of each, and also at the
impact of changes in intellectual capital. This is important as you assess the value of and the strategy employed
by social media as well as metrics for evaluation.
Social networking within the internal boundaries of the firm and between the external boundaries of the firm
facilitates the development of and creation of knowledge using social media. Social network analysis is the
mapping and measuring of relationships and flows between people, groups, organizations, computers or other
information/knowledge processing entities." (Krebs, 2002). Social Network Analysis (SNA) is a method for
visualizing our people and connection power leading us to identify how we can best interacts to share
knowledge. From social network theory we can extract important ways that people interact in social media and
predict and analyze the dispersal of knowledge understanding the importance of key nodes in the network that
serve as key points of knowledge transfer in the rest of the network. The study and metrics needed by managers
for social media strategies require the use of mathematical models that use theories of diffusion and diffusion
formulas to discover trends and determine what strategies might work (Lin, 2002)
Managers have the responsibility to unleash social media acquired knowledge into value-creating actions aimed
at customers and to generate and exploit that knowledge-either public or proprietary-more effectively than their
competitors. In addition, managers are also responsible to generate and exploit current firm knowledge better
than their competitors and to use public knowledge better than their rivals (Von Grogh 2000).
What this means in effect is that the IAB has clearly defined each platform, and then provided metrics by which
the effectiveness of each might be measured when planning a social media campaign. In other words, how does
the firm judge where to place your ad in order to obtain the best ROI? The quantitative metrics include the
following (Fisher, 2009)

Social media sites: Unique Visitors, Cost per unique visitor, Page views, Visits, Return Visits, Interaction
rate, Time spent, Video installs, Relevant actions taken.

Blogs: Conversation size (number of sites, links and reach of a conversation whose content includes
conversation phrases relevant to the client), Site relevance (Conversation density, Author credibility,
Content freshness and relevance).

Widgets and Social Media Applications: Installs (number of applications), Active Users, Audience Profile,
Unique User Reach, Growth, Influence, Installs (number installed per user.).

3. Conclusion
The research model and the propositions for empirical research are below:
The purpose of this paper is to develop the groundwork and hypotheses for further research using the model
below. This model starts with the firm strategy and this in turn is the driver for the knowledge management
strategy and the social media strategy. The intellectual capital is then captured using the choice of social media,
metrics applied-both qualitative and quantitative. Finally, the metrics are evaluated against the firm strategic
objectives and goals.
Further empirical research is needed and planned based on this paper to begin to answer the following
hypotheses:
Hypothesis 1-There is a positive relationship between social media strategy chosen and
effectiveness?
Hypothesis 1a. Are there differences by industry classification?
Hypothesis 2- There is a positive relationship of social media method to measureable outcomes?
Hypothesis 3-There is a positive relationship to outcomes of firms that have a clear link between
social media strategy, knowledge management strategy and the firms overall strategies?
Hypothesis 4-There is a positive relationship of social media strategies to measures of product
innovation and knowledge capture.

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Hypothesis 5-There is a positive relationship between number of firm resources committed and
outcomes of social media on knowledge capture for product innovation and customers needs
knowledge capture.

Figure 1-Model of social media strategic approach

This paper connects strategic concepts and social media to lead managers to a better understanding of why they
should consider using social media, strategies needed and what metrics to use. Corporate and business level
strategies, business level strategies and functional level marketing strategies need to drive the social media
choices. Clearly a firms vision, mission, strategies and objectives should drive social media choices just as they
drive other media choices.

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