Most startups need to have a social media marketing strategy in place as soon as possible, because the importance of social media can’t be underestimated for new companies.
Nearly half of the population of the globe is on at least one social media platform, and that much information makes it clear that small businesses can greatly benefit from having a presence on these platforms along with a social media marketing strategy.
Social media marketing is one of the most effective tools which helps companies profit and grow, that inspires consumers to make purchases, and that influences those purchasing decisions.
These days, it doesn’t really matter which niche a new company belongs to, because the odds are relatively big that a large chunk of the target audience is going to be active on at least one social media platform.
Aside from reaching the target audience, social media marketing strategies have other benefits for startups, including improving brand awareness, engaging with the consumers, increasing website traffic, boosting SEO, building a company’s brand reputation, and increasing customer satisfaction.
Setting Smart Goals
The first step in creating a social media marketing strategy for any new company is setting some realistic goals by following the SMART goal setting acronym.
That means the goals should be Specific, Measurable, Attainable, Relevant, as well as Time-based (SMART).
Different businesses can have different goals for their social media marketing strategies, which include things like increasing the company’s brand awareness, driving website traffic, generating new leads, increasing sales, and more.
Social Media Platforms
The next step for the business should be figuring out which social media platforms should be utilized for their promotional campaigns.
To make that decision easier, it’s important to think about the industry niche of the business, as well as where online the target market congregates and frequents most.
For example, a new company in the B2B tech niche will be inclined to focus on LinkedIn instead of TikTok.
Then, that company should figure out the things that the target audience is interested in on that platform, its demographics, and any other potentially relevant information about that target audience, to figure out the best way to get their attention.
Once the company has established its target social media platform and market, it’s time to look at what the competitors are doing on that same platform.
That means doing a broad search on their profiles to learn what type of content they’re sharing, which content works best with their audience, how they’re targeting customers, and more.
The company can also use third-party tools to analyze the competitor’s social media presence, and the content of their posts, and can help to find and evaluate even more companies in the same industry or niche and learn from their strategies.