Social Media Marketing: Description & Strategy

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  • 0:02 What Is Social Media…
  • 0:52 Developing a Strategy:…
  • 4:54 Lesson Summary
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Lesson Transcript
Instructor: Sean Kennedy

Sean has 8 years experience as a supervisor and has an MBA with a concentration in marketing.

Social media marketing allows a company to promote their business through different online marketing platforms. There are five easy steps that can help develop a strong social media strategy.

What Is Social Media Marketing?

Social media marketing is a way for a business to promote itself and communicate with customers through an online platform. Social media marketing is done through websites such as Facebook, Instagram, Twitter, and YouTube. A company has the ability to draw the attention of a wide audience. Social media marketing can be performed directly through the company, or the company could hire an outside advertising agency to help them build an online presence.

Suppose you open a brand new bakery. You want to be able to get the word out to people about the grand opening, but your budget is low until you bring in money. A good way to help promote the company would be to create an event on Facebook, and invite local people in the area. This helps save money, promotes the company, and brings awareness to the grand opening.

Developing a Strategy: The 5 Steps

Step 1: Decide Who Will Control Social Media Platforms

The first step is to decide who will control social media platforms. Large companies may have a marketing department that can work together to determine social media marketing strategies. For smaller organizations, they may decide to have a manager in control of their social media marketing. Depending on the company's budget, they could decide to have an outside business create a social media campaign. An annual budget should be created to help decide how the company wants to use funds to create a social media presence.

An example of a company that may hire an outside business for marketing purposes would be a local restaurant. A local restaurant could generate a lot of income but doesn't have the marketing knowledge to promote the company. Hiring an outside marketing company allows the restaurant to have an online presence, and the ability to concentrate solely on cooking great meals.

Step 2: Decide What Your Social Media Goals Are

Creating a social media strategy is a good way to decide what your social media goals are. Social media can be used for communication purposes, advertising purposes, or both. It's essential to determine the social media outlets that will best fit the needs of the company. Business goals could differ depending on what the company wants out of social media marketing.

For large companies such as Coca-Cola, they have the ability to promote new products or existing products through social media. As a well-established company, their main focus may be on advertising. Since they already have well-developed products, getting feedback may not be as important. A small restaurant business may use social media to communicate with customers to improve their menu items.

Step 3: Choose Social Media Platforms

There are various different social media platforms for an organization to choose from. It may be overwhelming, but social media is fun! Facebook, Instagram, Twitter, and YouTube are some of the most popular social media platforms. The company must decide which social media platform is best for them. YouTube could be a good fit for a large entertainment company because they can post music videos to a large range of people. YouTube would not be a good fit for a small restaurant because it will not reach their specific target audience.

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