How to Create a Social Media Strategy – Part 2

Social media is a huge tool that businesses use to grow these days and it is becoming the most popular tool for advertising. Before creating a social media account for a business there are 7 components that need to be thought about:

• Identify Business Goals

This is definitely the first thing a business should do before they create a social media account on any platform. You need to know what you want to achieve as you can’t move forward if you don’t know what you’re working towards. The main business goals that should be thought about when creating a social media account are; increasing brand awareness, reducing marketing costs and retaining customers. 

• Identify Your Target Audience

If you have already established yourself on any social media platform and your engagement is low then you really need to consider whether you are targeting the correct audience on the correct platform. For example at Oracle we were using Facebook to sell our digital services and it really wasnt working and we were getting very little engagement so we decided to create an instagram account to see if that works better and so far our engagement on Instagram has been much better. Finding your target audience on the correct platform is the most important factor to think about if your engagement is very low.

• Set Marketing Objectives

Following on from identifying business goals, you should set clear marketing objectives that you want to achieve. This could include you want to increase business leads by 30% or you want to gain 500 more followers. Having clear but achievable goals can increase motivation.

• Research Competition

When it comes to social media marketing, researching your competition not only keeps you up to date of their activity, it gives you an idea of what’s working so you can integrate those successful tactics into your own efforts. Start by compiling a list of at least 3-5 main competitors. Search which social networks they’re using and analyse their content strategy. Look at their number of followers, posting frequency and time of day. Also pay attention to the type of content they’re posting and its context and how they’re responding to their customers.

• Choose the Correct Platform

Many businesses create accounts on the most popular social media platforms including Instagram, Twitter, Tiktok and Snapchat without researching which platform is best for their business. You don’t want to waste your time by creating an account and putting effort into a platform that essentially won’t bring anything in for you. If your engagement is still low but you’re on the correct platform for your business you could think about investing in the ad services the platform could offer you e.g. Facebook Ads.

• Create a Content Strategy

Once you have considered all of the above you really need to think about the type of content you are going to post. To grab people’s attention you will need to have something colourful and unique as, if people see a blank poster they’re not even going to give it a read as it wont even grab their eye. You will also need to post frequently enough so people get your brand in their head, you need that constant branding so people remember you.

• Create a Reporting Plan

To track all your data, creating a data report would be a great way for you to keep track of all your data. By doing this you will be able to see what aspects are working and which aren’t. You will be able to see which posts of yours are performing the best so you can change the ones that are not performing as well.

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Update on Digital Business Trends

Written as of 15:49 Thursday, 8th September – by Daniel H.

On our third iteration of ‘Update on Digital Business Trends’, we’ll be going over some of the recent trends in the past few weeks.

Will the Cost of Living Crisis kill WFH?

With the cost of electricity and gas skyrocketing, many fear that they can no longer work from home and would have to return to the office. However this may not actually be the case. 

Whilst it is true that prices are going up, the cost of commuting to work will also be increasing, and travelling is not only a monetary cost either. Travelling but a car still requires fuel, and charge if your car is electric, which costs a pretty penny on its own, but adding into travel time and distance, workers might still find it more beneficial to work from home then to head back into the office.

Not to mention, remote working is still on the table. If you needed to, you could go to a Library or another place that is closer to you than your office, if the office is not already closer of course. Although it would still involve travelling, Travelling to somewhere closer or that is a better environment for you to work in, could be more beneficial than an office. 

Of course I’m not saying you cannot go to an office if you want to, the choice is ultimately up to you where you work.

What is House Swapping?

You may have heard of the term ‘House Swapping’, and wondered “what is that?”, we’re about to talk about it. House Swapping is a new trend that has emerged where remote workers, you guessed it, swap houses with each other, so that the workers are closer to what they need to do, or just fancy a change of scenery. 

If you’re now wondering, “Why do people do this?” – don’t worry I have the answer for that too! Many of these remote workers find it way cheaper to swap homes with someone nearby to their destination than staying at a hotel or AirBnB, making their travel and stay a lot less costly. With it costing a lot less, it also gives these remote workers the chance to stay for longer wherever they end up.

But don’t worry, rather than relying on social media to find similar minds, there are services you can subscribe to, from £20 – £255 (depending on which service you use), that provide and match other potential home-swappers with you, so you don’t have to worry about any risks using these services.

The New ‘Moments Economy’

Now this might be one only a few of you have heard about, there has been a rise of a new ‘Moments Economy’ in the holiday market. What this is, is a reaction to the pandemic and the cost of living crisis, where people would rather have smaller events that cost less, like a small dinner party to celebrate an event, rather than splurging money on big events or holidays.  

John Lewis has reported a sales increase of ‘occasion hats’ by 168%, as more customers show a trend of buying for small occasions than buying large like pre-lockdown numbers. In fact, John Lewis themselves have started advertising themselves in a way to promote ‘small occasion shopping’, rather than the usual holiday selling points.  

So if you’re in the business of selling holidays or holiday products, you might want to take this part into consideration, in general it could be a sign for a lot of businesses that customers wish to buy smaller rather than larger.

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