Developing a Strategic Social Media Marketing Plan

Establishing goals

ServiceCustomer CommunicationBrand AwarenessTraffic GenerationSEO

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 website by 10 percent,” “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.”

Estimating costs

Estimating costs from the bottom up is tricky, and this approach rarely includes a cap. Consequently, costs often wildly exceed your budget. Instead, establish first how much money you’re willing to invest in the overall effort, including in-house labor, outside contractors, and miscellaneous hard costs such as purchasing software or equipment. Enter those amounts in the Cost section.

To make cost-tracking easier, ask your bookkeeper or CPA to set up an activity or a job in your accounting system for social media marketing. Then you can easily track and report all related costs and labor.

Valuing social media ROI

Return on investment (ROI) is your single most important measure of success for social media marketing. In simple terms, ROI is the ratio of revenue divided by costs for your business or, in this case, for your social media marketing effort.

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