Finding the Right Social Media Strategy

Whether you like it or not, the increasing popularity of social networks is likely to factor into how successful you are in attracting new (and old for that matter) customers online. Consider that people are more frequently turning to the Internet to find online ratings. Consider also that consumers are going online more for research in general, and that is opening up opportunities for both online and brick and mortar businesses.

Now consider that Google and Bing (which is soon to be delivering results for Yahoo too) will be incorporating Twitter updates into search results. Bing will start including Facebook updates, and Google may follow suit, as Google and Facebook have been rumored to be in talks. That means being involved with these social networks will potentially increase your exposure from search engines.

There are plenty of reasons to get involved that equal added traffic and added exposure, which could end up bringing you more customers online or off.

"As people spend more time on social networks, retailers feel pressure to be there as well," says eMarketer. "Twitter is a hotbed of experimentation for retailers that see it as a channel for customer service, promoting the deal of the day and more. Facebook and its third-party developers are creating e-commerce applications on the site. Meanwhile, retail Websites are bolstering their social commerce features."

"While user ratings and reviews are a mature form of social commerce with proven benefits, e-commerce on social media platforms, such as Facebook and Twitter, is in an early stage," said Jeffrey Grau, eMarketer senior analyst and author of the new report, Social Commerce on Facebook, Twitter and Retail Sites. "People are spending more time on social networks and are able to conduct more of their regular activities on these platforms. E-commerce on social networks has barely tapped that potential."

One thing you can do is actively encourage sharing of content. We’ve discussed this before. However, Facebook has just launched a new version of its share button, which provides a live counter and analytical data that can help you track what you are getting out of your shares.

One good way to find new strategies for incorporating social media into your own plan is to look at brands that you use yourself. Look at what they are doing with social networks and determine how it helps you as a customer of that brand. Putting yourself on the customer side of different strategies can help you figure out what works and what doesn’t, and in some cases you may be able to apply similar concepts to suit your own goals. Never forget that you need to have clear goals for what you are trying to accomplish through social media channels. Social networks and their features are just tools.