Learning a social media based marketing strategy

Social media is becoming more important for all business owners. The reasons behind this are numerous, however one of the primary reasons is because today, more people than ever before are turning to the Internet for information. Companies who have a strong Internet presence are likely to find a larger base of clients, have more effective marketing programs and in some cases, have better customer service.

There is no single reason why social media works, and the overall impact on business may not be readily apparent. However, those business ventures who start off with a complete marketing package that includes a social media strategy generally find that they are less prone to failure than those who have not implemented any social media into their overall plans.

Many businesses discover over time that social media is a cost effective marketing strategy. Unlike newspaper, magazine and television advertising, social media lives on "in perpetuity" since once something is put online, it remains there nearly indefinitely barring some unforeseen crisis. While magazine readers are likely to share a magazine with a friend, drop it off at a local community center or share it in a doctor's office, chances are that over time, the advertisements contained in magazines become less valuable. Television advertising only holds the interest of those who are watching when the advertising is shown. Newspaper advertising is becoming a cost-prohibitive method of advertising. All of these factors make social media marketing a viable alternative for reaching an audience.

Social media marketing campaigns are not one size fits all. Business owners who are working on a new marketing campaign must understand the audience they are attempting to reach. Those who fail to do this are likely to find that their campaign is not as successful as they anticipated. Much of this is due to a lack of planning.

Social media marketing is most effective when a target audience is reached. When planning a campaign, the business owner must set specific goals and have a plan in place to target an audience. The audience may be new home buyers, college students or housewives. Each would be involved in a different type of network and each must be targeted in a different manner.

Understanding the market is important for all business owners. Having a solid plan in place involves not only understanding the product or service they are promoting, but also having an understanding of their target market.

One of the most dangerous mistakes that a business can make is over-extending their social media campaigns. For all of the importance of social media, it is not helpful if a company attempts to target every social media site that is available. Careful evaluation of the various tools that are available on each site will help a business identify which social media campaign strategy will work best for them. Some of the top social media sites include:

Facebook - Setting up a company fan page can help promote a company and reach a larger audience. Facebook has more regular users than any other social media site. Work placed on Facebook can go viral in a short period of time;

Twitter - The second largest social media site is Twitter. Twitter can be used to manage customer service inquiries, share information and share company insights. Promoting a website, blog or relevant articles through Twitter can be very effective;

LinkedIn - For those who are targeting business contacts, LinkedIn may be the solution. There are numerous features available in the unpaid version of LinkedIn that can help companies reach other companies. It is an ideal social network for sharing relevant information but can be abused very easily;

Foursquare - The answer to staying local is Foursquare! For those who are in a niche market that does not translate well to other geographical locations, Foursquare may be the social media site that they find most useful. This is an ideal network for real estate professionals, convenience store owners and other home-based business owners.

When starting a social media campaign, it is important to narrow your field down to the networks that will work best for the individual needs of a business. Social networks like all other networking opportunities are not a one size fits all proposition.