1. Implementing A Small Business Social Media Strategy: Introduction
  2. Implementing A Small Business Social Media Strategy: Define Your Goals
  3. Implementing A Small Business Social Media Strategy: Define Your Target Audience
  4. Implementing A Small Business Social Media Strategy: Research The Platforms
  5. Implementing A Small Business Social Media Strategy: Plan Your Content
  6. Implementing A Small Business Social Media Strategy: Build And Develop Your Social Media Presence
  7. Implementing A Small Business Social Media Strategy: Maintain Your Profiles
  8. Implementing A Small Business Social Media Strategy: Hiring A Social Media Manager
  9. Implementing A Small Business Social Media Strategy: Conclusion

Going hand in hand with establishing your social media goals is defining your target audience. Companies have traditionally relied on market research to figure out where to most effectively put their radio, print and television advertising dollars. Today, small businesses can look to research organizations that provide information on how consumers use social media. Knowing how your existing and potential customers use social media is an important part of developing an effective social media strategy.
Your target demographic is specific to your business and will depend on the goods and services that you offer. In order to understand your audience, you must determine which social media sites your existing and potential clients use – where are they online?
Research organizations publish valuable studies that can help you reach your audience. A late 2012 survey by the Pew Research Center, for example, entitled The Demographics of Social Media Users – 2012, shows that 67% of Internet users use Facebook and that it is especially appealing to women and young adults aged 18 to 29. The study also found that 15% of Internet users use Pinterest, and this social media platform is especially appealing to white adult women under age 50 and those with some college education.
Pew research shows other statistics, such as the percentage of Internet users that earn at least $50,000 that are on LinkedIn (24%) compared with the percent of users who earn less than $30,000 (7%), and the number of Internet users that are at least 50 years old who are using Facebook (57%). These statistics can help small businesses figure where their social media efforts are best served. Because social media is a dynamic environment, it is helpful to review current studies when determining where to focus your attention.  
You can perform your own non-scientific research to find out if your target demographic is active on a particular social media platform. One way is to research your competitors’ sites; if they are engaging successfully with an audience on a particular social network, then you should be able to target your audience on the same platform. You can also search the various social media platforms for keywords that pertain to your business. For example, to find out if your audience is active on LinkedIn, you can enter your keywords into the People search box in the top menu bar.
Know Thy Audience
Digital Producer Hannah Twigg says that the most important consideration when planning a social media strategy is to know thy audience. She explains, “The same way a job candidate needs to know the company they are interviewing for, a business must have a clear understanding of who they are targeting, which social media channels they prefer and what they read, share and post.”
Twigg notes that social media is a two-way street and that timing is important: “Successful social media strategy is more about listening than talking.  The right message interjected at the right time at the right person can lead to bigger ROI.  Here is a perfect example: a well-known journalist was visiting Las Vegas and while checking into his hotel tweeted about the terrible wait time.  This tweet was seen by a competing hotel in the area and their response was quite simple and genius: ‘Las Vegas is happy to have you @ … We hope your time here improves quickly’.  This message resulted in the journalist switching hotels and then recommending his new accommodations to two other friends.”
Because of the viral nature of social media, one well-timed interaction with the right person can quickly spread across the Web. In addition to the Las Vegas hotel earning the journalist’s business, their well-timed tweet brought additional clients. Twigg explains, “This single tweet resulted in over 10k of new business for the hotel. The hotel targeted a high profile journalist, listened for the right moment to engage and delivered a simple message that wasn't a sales pitch, rather a friendly acknowledgment of their target audience's woes. Being 'likeable' and non-intrusive to your audience is key!”

Implementing A Small Business Social Media Strategy: Research The Platforms
Related Articles
  1. Financial Advisor

    6 Social Media Mistakes Advisors Should Avoid

    Financial advisors who are embracing social media as part of their digital marketing strategy need to avoid making these six mistakes.
  2. Financial Advisor

    How Advisors Are Using Social Media

    It doesn't pay to leave social media out of your marketing plan, a new study shows. Here's some insight into how advisors are using the digital networks.
  3. Small Business

    How Important Is Social Media For Your Company?

    Freelancers and marketing agencies are just some of the resources companies are now using to develop their social media.
  4. Financial Advisor

    Advisors: How to Make Social Media Work for You

    Most financial advisors today are using social media to help build their client base. Here are some tested basic guidelines on how to get started.
  5. Financial Advisor

    Not on Social Media Yet? You May Be Losing Clients

    If you’re a youngish advisor and still not on social media, consider the changing landscape. You could be losing clients because of it.
  6. Financial Advisor

    Why Social Media is a Necessity for Advisors

    There are a multitude of reasons why financial advisors should be on social media. Here are three of them.
  7. Investing

    Financial Advisors: Social Media Is a Gold Mine (FB, TWTR)

    Learn how social media is a gold mine for financial advisers. Maintaining a social media presence enables you to reach customers, and it provides social proof.
  8. Financial Advisor

    Advisors: How to Ask Friends for Social Media Help

    Social media can be a difficult endeavor for those who didn’t grow up around technology, but younger friends and family can help quickly fill the void.
  9. Financial Advisor

    How Advisors Can Carve Out a Social Media Niche

    Social media is a great way for financial advisors to build a brand and potentially generate leads if it’s properly used. Here are some tips.
  10. Financial Advisor

    Digital Marketing Tips to Grow Advisors' Business

    Advisors may want to consider these digital marketing tips when it comes to maximizing the effectiveness of their social media efforts.
Frequently Asked Questions
  1. Where else can I save for retirement after I max out my Roth IRA?

    The first option to explore is to determine if you can contribute to a 401(k), 403(b), or 457 plan at work. If your employer ...
  2. How did George Soros "break the Bank of England"?

    In Britain, Black Wednesday (September 16, 1992) is known as the day that speculators broke the pound. They didn't actually ...
  3. What counts as "debts" and "income" when calculating my debt-to-income (DTI) ratio?

    It's important to know your debt-to-income ratio because it's the figure lenders use to measure your ability to repay the ...
  4. Who are Monsanto's main competitors?

    Learn about Monsanto Company's two main operating divisions and its main competitors within each sector, including The Mosaic ...
Trading Center