This document outlines the steps to create a successful social media strategy: 1. Prepare by defining goals and budget. Research your audience and competitors. 2. Set goals for what you want to achieve through social media like brand awareness or sales. 3. Develop relationships by engaging with influencers and communities related to your industry. 4. Define and measure your success metrics such as sales, followers, or cost reductions.

1. Assignment 4 – Successful Social Media Strategy<br />Why to create a Social Media Strategy<br />Without a clear direction, social media can pull you in all directions. Clear goals and realistic expectations can help avoid wasting time, effort and backlash. It also can help avoid social media fatigue and missed opportunities.<br />The whole idea of using the social media in marketing is to develop a strategy that drives business results.<br />PreparationFirst step is off course to make proper preparations. Brands and companies should define what they want from their investment to social media marketing. Brands and companies should also have a discussion about budget and resources at this point.<br />What you sell, who to you sell it to, how you market, who to you market to?<br />Which are the social media channels that the companies should start to use and why should they use these tools? Where is your audience? <br /> dxadvertising.com<br />ResearchStep two of creating a successful and effective social media strategy is to research. The more time you spend with analyzing the potential audience, the better off you’ll be. Know your competitors. Listen to what’s out there, identify, and understand your target audience. <br />Goal settingThis is where objectives are chosen for social media activities, success metrics, and a foundation is laid down for a measurement plan. What is the brand or company trying to achieve with their adventures in social media? What is expected to achieve with the investment to the social media. A good place to start is the results from other marketing investments. Or maybe you want to generate more brand awareness? What are your goals?<br />Developing relationships and involvement<br />Join the conversation to develop relationships. Use the information found on research you’ve done. Post comments on blogs and forums. Begin developing relationships by following and friending influencers and those in your industry. <br />Don’t just look for people with thousands of followers; you’ll be surprised by the value that someone with only a couple of hundred followers provides.<br />Define your measures of success<br />How many sales/leads were generated?

2. How many people are talking about your company?

3. How have you reduced operational costs?

4. How have you helped recruiting?

5. How many downloads?Measure resultsHave your networks grown or changed and how? What has been working and what has not? What can the company do differently and what should it eliminate? What should the company focus more on? What is the most valuable feedback? Is the social media changing and how? Is the company ahead of their competirors?<br />Ultimate point: Are you making or saving more money than you did before you got involved?<br />References<br />http://www.slideshare.net/AJGerritson/how-to-build-a-social-media-strategy-and-why<br />http://www.ignitesocialmedia.com/social-media-strategy/how-to-create-write-develop-social-media-marketing-strategy-the-ignite-method/<br />http://www.socialmediaexaminer.com/7-steps-for-a-successful-social-media-strategy/<br />http://www.slideshare.net/jaybaer/developing-a-social-media-strategy-in-7-steps<br />Pictures <br />http://dxadvertising.com/wrighttoknow/wp-content/uploads/2010/03/social-media-starfish.jpg?w=300<br />http://adamhcohen.com/the-new-marketing-funnel/<br />