Social media strategy refers to the platforms and methods needed to support publishing, listening and engagement.
Social business strategy is a high level plan, the combination of social technologies and processes being integrated into business values and practices. This plan aligns closely with business goals building relationships and getting people engaged in conversation about the organisation internally and externally.
According to Li & Solis, social business strategy can be defined as –“A set of visions, goals, plans, and resources that align social media initiatives with business objectives”.
Li & Solis instituted a set of six key elements in a social business strategy that they believe are crucial in promoting a fully functional and successful social business strategy. These are:
Planning “Listen and learn” The goals are to ensure that there is a strong foundation for strategy development, understand how customers use social channels prioritizing strategic goals where society can have the most social impact.
Presence “Stake our claim” Represents a natural evolution from planning to action amplifying existing efforts, launching a YouTube channel, creating a blog, promoting a Facebook page encouraging sharing, share of voice, fans, followers, shares
Engagement “Dialog deepens relationships” At this stage the social media is a critical element for the company and to succeed it is important to build a community to provide a direct and efficient support.
Formalized “Organize for Scale” The goals are to set governance for society, create discipline and process always following business strategic goals. Ensuring an efficient process when entering social network
Strategic “Become a social business” At this stage the goals are to integrate the social media initiatives across business units Moves into HR, sales, finance, supply chain, IT. Integrating Enterprise metrics, like net promoting.
Converged “Business is social” Social media contributes to the migration of a business into becoming a more social entity. The goals here are to drive social transformation, integrating social philosophy into all aspects of the enterprise.
Explained by Li and Solis, there are also seven success factors in a social business strategy that helps to spread across all social business strategies:
- Business goals definition– define goals
- Long- term vision for becoming a social business– define business goals
- Key executive support– support of key executive
- Initiative roadmap– strategy roundmap
- Process discipline and ongoing education– governance and guidelines
- Staffing– resources and expertise
- Technology selection only after strategy is set– technology and resilience
We can more or less conclude in this post by saying that without a clear cut strategy to implement towards realising its goals, any business organisation cannot succeed. Furthermore, organizations that master the implementation of some elements mentioned above or a combination of these elements, will, in the long term be able to fully maximize their business value and potentials, regardless of which stage they are in.
Li, C. & Solis, B. (2013). The evolution of social business: Six stages of social business transformation. Retrieved from http://www.slideshare.net
Solis, B. (2013). New Report from Altimeter’s Brian Solis and Charlene Li Reveals Startling Gap Between “Social Media” and a “Social Business”. Retrieved from http://www.briansolis.com