Developing a Strategic Social Media Marketing Plan

Surely you wrote an overall marketing plan when you last updated your business
plan and an online marketing plan when you first created your Web
site. If not, it’s never too late! For business planning resources, see the Small
Business Planner page at www.sba.gov/smallbusinessplanner/plan/
writeabusinessplan/index.html

You can further refine a marketing plan for social media marketing purposes.
As with any other marketing plan, you start with strategy. A Social Media
Marketing Strategic Goals Statement would
incorporate sections on strategic goals, objectives, target markets, methods,
costs, and return on investment (ROI). You can find this statement on this
blog’s Web site (see the Introduction).

Here are some points to keep in mind when putting together your own strategic
marketing overview:

✦ The most important function of the form isn’t for you to follow it slavishly,
but rather to force you to consider the various facets of social
media marketing before you invest too much effort or money.
✦ The form also helps you communicate decisions to your board of advisors
or your boss, in case you need to make the business case for getting
involved in social media.
✦ The form provides a coherent framework for explaining to everyone
involved in your social media effort — employees, volunteers, or
contractors — the task you’re trying to accomplish and why.

Setting quantifiable objectives
For each goal, set at least one quantifiable, measurable objective. “More customers”
isn’t a quantifiable objective. A quantifiable objective is “Increase
number of visits to Web site by 10 percent,” or “add 30 new customers
within three months,” or “obtain 100 new followers for Twitter account
within one month of launch.” Enter this information on the form.

Identifying your target markets
Specify one or more target markets on the form, not by what they consume,
but rather by who they are. “Everyone who eats dinner out” isn’t a submarket
you can identify online. However, you can find “high-income couples
within 20 miles of your destination who visit wine and classical music sites.”

You may want to reach more than one target market by way of social media
or other methods. Specify each of them. Then, as you read about different
methods in this book, write down next to each one which social media services
or sites appear best suited to reach that market. Prioritize the order in
which you plan to reach them.