Defining your company’s social media strategic business objectives prior to making a significant investment is good sense. Like any marketing initiative, you should define what success will look like before jumping off the deep end.
Because social media is so broad and potentially resource intensive this is especially true. The fact is, a universally accepted social media ROI model has yet to emerge, so in the meantime make strategic planning a priority on the front end.
For most companies, that means hiring an experience social media marketer to advise on the logical first steps and help develop an appropriate execution plan. In that process, you might consider the following list of potential objectives, both tactical and strategic.
Tactical Social Media Objectives:
- Connect with existing customers and new prospects
- Listen & engage in conversation with prospects, customers, and industry leaders
- Share company information, industry news and “personal” information
Strategic Social Media Objectives:
- Grow network (# of followers, email subscribers)
- Evolve as a market leader (first-to-know, purchase influencer, trend-setter)
Strategic Business Goals
- Grow new business (# of new customers, new customers acquisition rate)
- Grow existing business (# of sales, average $ per order, total share of wallet)
What do you think? Is defining your company’s social media strategic business objectives important? How are you coming up with the answers?