We’re halfway through the year and 2023 has proven to be a financially challenging year for all, with inflation, 12 consecutive interest rate rises, announcements of wage increases and Australia’s cost of living increasing by seven per cent. Small- and medium-sized businesses have felt the effects with most struggling to compete against larger businesses. In this article, we have provided some tips on how to create a winning social media strategy that will take the burden off your already compressed budget.
Developing and implementing an effective (and budget-conscious) social media strategy can help connect with target audiences, build a firm brand presence, and ultimately offer online validation for your target market.
So where do you start?
1. Define your goals
Having clear and concise goals makes it easier to define your social media marketing strategy. Social media marketing can help achieve many business goals including increasing brand awareness, generating leads, or driving sales. Once your goals are defined you can start to develop a strategy to achieve them. For example, if your objective is to increase brand awareness, identify this as a part of your plan and ensure your strategy and content are relevant to moving towards this.
2. Choose the right platforms
Not all social media platforms are created equal. Some platforms are better suited for certain businesses – and their audiences – than others. For example, LinkedIn is a necessary platform for B2B companies whilst Instagram is more beneficial for image-rich retail businesses to reach a target audience. When selecting a social media platform for your business, first, think of the target audience you’re trying to reach and their preferred platform.
3. Create valuable content
To succeed on social media, create content that your target audience will find valuable. This could include blog posts, infographics, videos, or anything else that will provide your target audience with useful information. Being authentic with social media content creates trust in your target audience. Post content such as behind-the-scenes photos, get-to-know-me posts or a customer success story. Tell stories and create an emotional connection with your brand. If your goal is sales, most audiences wont respond well to pure sales-related content, so keep to the 80/20 rule – 80 per cent engaging and value-adding content and 20 per cent sales-related.
4. Have a schedule
Creating a regular and consistent schedule for social media content will help achieve your business goals. Being consistent with content will build brand recognition and trust, boost post engagement and help expand your target audience. It’s important to develop a schedule that you can adhere to regularly. Use analytics to find the best time and day to post and maintain a consistent schedule.
5. Engage with your audience
Social media is a conversation. It’s not ‘set and forget’. Take the time to engage with your audience by responding to comments, answering questions, and participating in conversations. Engaging with your target audience will help you build a community and can increase traffic to your website, boost sales and create brand/consumer loyalty.
6. Use social media analytics
Most social media platforms offer analytics tools that help you track your performance and see what’s working and what’s not. It is important to know the statistics from your social media content as it will help improve your social media strategy and increase return on investment (ROI).
Being effective on social media doesn’t have to cost a lot of money, and with proper planning, it doesn’t have to take a lot of time either. A little preparation, a strong strategy and a commitment to implementation will place you in good stead to take your social media to the next level.
