Creating a Social Business Strategy

A social business strategy is a corporate necessity, whether the entity is a global enterprise or a single proprietorship. Below are some questions to ask when creating a social business strategy.

1. What is the current status of social at the organization?

What social media accounts exist (if any)?

What is the mission of each of the social profiles?

What is the activity on each of these profiles?

What are the follower counts and rates of engagement on each profile?

2. What are the social media goals/objectives?

Will the social media objectives help the organization achieve its overall company vision/mission/objectives?

Are the social media objectives SMART: specific, measurable, achievable, realistic, and time-bound?

Are there other social platforms that the organization is not currently using that would help to achieve these goals in a timelier manner?

What is the budget?

3. Are the social media profiles optimized?

Are the profiles current and filled out completely?

Do all of the profiles speak to the brand voice?

4. What is the content strategy (what will be shared) on each profile?

What types of content will be posted?

How often will content be posted?

How will content be promoted?

5. What metrics will be used to track progress?

What key performance indicators (KPIs) will be measured?

How will the KPIs be measured?

How often will the measurements be analyzed?

How quickly can the strategy be changed in response to the results?

Social Media Statistics

50% of online adults with college degrees are on LinkedIn (Pew Research Center)

YouTube reaches more 18-34 and 18-49 year-olds than any cable network in the U.S. (youtube/press/statistics)

68% of all U.S. adults use Facebook (Pew Research Center)

Digital video advertising will grow faster than any other segment over the next five years and revenue in this category is forecast to rise from $8.5 billion in 2016 to $23 billion in 2021 (Business Insider)

Insights

Identify and empower an executive social leader and get stakeholder buy-in by showing line-of-business teams how they will benefit.

Ensure that a social business strategy grounded in objectives precedes technology investment. 

Own the social business program internally to develop the competency and strategically leverage external partners for currency of content.

Create/adjust your social media policy and consider guidelines.