For a brand or business to prosper online, social media marketing is now a need, not an option. With so many different demographics using social media on a global basis, you should be there to interact, influence, and convert. Take a peek at these figures from Datareportal’s Global Social Media Statistics to understand why: More than 5 billion people use social media regularly, making up 62% of the global population. An average of two hours and twenty minutes are spent on social media each day. The platform with the most active users is YouTube, followed by Facebook and WhatsApp.Each month, people use 6.7 platforms on average. These figures merely highlight the significance of social media in people’s life. However, it’s not enough for you to just be active on social channels, you need to know how to talk to and serve your audience, share information that informs and excites them, boost brand awareness, and generate leads. What is a Social Media Strategy?A social media strategy, to put it simply, is a detailed plan that details your objectives on social media, the methods you’ll use to reach them, and the metrics you’ll be using to assess your progress.It should produce leads, foster customer relationships, and increase brand visibility and engagement for your target audience or audiences on social media platforms. What are the Benefits of having a social media strategy? It’s possible that your social media campaign was a success or that the content you shared received a lot of interaction. That one-time event can come to pass. Consistency is the challenging aspect of social media marketing, though. Do you know why the post or campaign was successful? Is it simple to duplicate? Though developing a social media plan may seem intimidating, there are numerous real advantages that a social media strategy may offer your company. “Social media is a different way of brands engaging with and communicating with their audience and customers. It’s different from every other media because it’s got three unique characteristics: it’s brave, it’s fresh, and it’s hyper-creative,” says Julie Atherton, What are the Steps in Building a Successful Social Media Strategy?Now that you know the fundamentals of a social media strategy, let’s move on to the particular actions you must do to develop one.  1) Set goals for your business One of the most important steps that influences your complete approach is identifying and comprehending your social media goals. Think about the goals your company has for itself; is it to increase brand recognition, learn more about your audience, grow your following, or produce leads? Different social media strategies and material are needed for each objective. To properly assess achievement, define Key Performance Indicators (KPIs) that are in line with these objectives. For example:On Instagram: Prioritise interactions, profile visits, and Stories discovery  On Facebook: Concentrate on reach, engagement, and impressions. To measure impact, go deeper into measures like amplification rate or audience growth rate. Adapt your measurements based on what is important. X – follower count, shares and link clicks may reveal insights. 2) Research Your Audience You must comprehend your audience and their needs in order to produce tailored messaging and content. The ultimate objective is to have customers positively impact others by talking about your brand, product, or service (i.e. word of mouth marketing). The most effective technique to accomplish so is to carry out market research using: 3) Research Your Competitors Competitive analysis is an essential component of your social media marketing plan. It aids in your comprehension of what your rivals are doing on social media. You can gain knowledge about the following kinds of things: Great Example of a Social Media StrategyIf you work in marketing, you undoubtedly have a favourite company or brand. It might be an online retailer like Amazon or Airbnb, or it might be a company that prioritises corporate social responsibility like TOM’s. Whatever company you look up to, learning more about how they operate is a terrific way to be inspired. Social media works in the same way. You might get inspired by examples and come up with innovative ideas for your own firm. Let’s examine a few B2C and B2B instances. How do you Create Your own Social Media Strategy?The more understanding you have about social media operations, the more effective your plan will be. You will learn everything there is to know about social commerce, social strategy, social content, and social research in DMI’s accredited Social Media Marketing course. Additionally, you will investigate the features of key platforms such as Facebook, TikTok, YouTube, X, Instagram and much more. Sign up today!