Key Concepts You Need to Know For Starting a Social Media Strategy

Starting a Social Media Strategy

Making the decision to use social media for your business is great, but there are some things to cover before starting a social media strategy and managing it. Getting started with Social Media for your business can be overwhelming for anyone, regardless of one’s experience. I recently finished the book, How to Make Money with Social Media and I was able to take away two types of information.

Part 1:

Concepts that everyone should know and utilize.

Part 2:

What tactics you need to make money from social media.

Below are the key concepts I’ve taken away on starting a social media strategy and managing it from before and after reading the book.

Social Media

Many believe that social media and traditional marketing are to be used in the same way, which is why many social media strategies usually fail. Social media allows for a two way conversation between your prospects, customers and your business, where as traditional marketing only allows for a one way conversation. Social media opens up the barrier that once stood between prospects and businesses. Once that barrier was broken down with the advent of social media, businesses can listen, understand and respond to what their customers want and need from them. If you use social media to broadcast a message, you’re more situated for a print marketing, not social media marketing.

Social Media Magnetism

Many people ask, “I’m using Social Media for my business, I’m tweeting and posting, but I don’t seem to be having success when it comes to interacting and engaging people with my brand/company.” Social media magnetism is when a brand is so powerful that people are attracted to it, the way metal is attracted to a magnet. Many companies assume they are a magnet and their potential customers are metal, attracted to any and all company information. Unfortunately, very few brands work this way. Businesses, especially small ones, have to build a reputation before they can develop magnetism between themselves and their audiences. The book suggests resorting to traditional forms of marketing – such as a brochure – in order to promote your social media involvement and attract customer attention.

Circular Momentum

It is easy to understand this term by breaking the words down, then putting them back together. If you think of a circle, it is round. If you think of momentum, you think of the amount of movement giving to a particular object (in this case, information). Put them together, circular momentum is a circular movement of information. Having discussion about your brand is good, but you want to make sure that it is positive; just like a circle, all the information will come back around. When someone likes your brand, they are likely to talk to their friend, who talks to their friend, who comes back around to talk to your business. Social Media has made positive and negative feedback about your company more accessible to many more people than ever before. If customer #1 didn’t like your service, they might tell a friend, who tells another friend, in need of your services, to avoid your company. Use social media as a PR tool as much as a marketing tool. As mentioned before, it is a way to communicate with your customers so listen, understand and respond to their inquiries when they information gets back around to you.

Part 2 of my book review will go over the tactics you need to know in order to make money with social media. If you have any additional concepts you’ve taken from the book that you think have value-add, feel free to comment. For more information on starting a social media strategy, visit our website and reach out if you have any questions about getting started with social media for your business.

Key Concepts You Need to Know For Starting a Social Media Strategy