Social Media Marketing Ford Target Market Paper

Description

SMM Plan Part II

Week Five: SMM Plan Part II

To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors, integrating a biblical worldview. In Week Five, write at least 1400 words, creating the Target Market section, which includes performing the demographics and psychographics analysis. Include the Goals, Strategies, and implementation sections. 

Your research must also include at least 5 additional academic (e.g., journal articles) resources in addition to your textbook to support your conclusions). Format your paper consistent with APA guidelines.

I.                    Goals

Chapter 2 introduced a set of general social media goals, which provide a good starting point for crafting organization-specific goals. They include brand building, increasing customer satisfaction, driving word-of-mouth recommendations, producing new product ideas, generating leads, crisis reputation management, integrating social media with PR and advertising, and search engine optimization (SEO). You can determine your objectives with the S-M-A-R-T approach: Make your objectives are specific, measurable, achievable, relevant, and time-bound. 

II.                  Strategies

Once the social media goals have been set, the next step is to identify the strategies best suited for helping the organization reach them. Chapter 2 also introduced the Eight C’s of Strategy Development, which are guidelines for constructing social media marketing strategies for a particular organization.

III.                Target Market

A variety of characteristics can be used to segment the population and to identify target audience, through creating personas. We discussed 4 segmentation strategies:

  • demographic (such as age range, gender, income range, occupations, and education);
  • psychographic (such as personal values, beliefs, interests, hobbies, etc.);
  • geographic (physical location of the customer, rural/urban areas, state, country, etc.);
  • behavioral (consumer behavior such as spending habits, brand loyalty, usage rate, shopping preferences).

IV.                 Platforms

Once the 4 segmentation strategies have been used to define a company’s target market, the social media platforms with the highest concentration of the target audience should be chosen. You will need to research user statistics for social media platforms and, based on your findings, suggest which platform(s) will be most effective for reaching the target market you have identified in Section III.  

V.                   Implementation

a.    Platform-Specific Tactics and Tools

Implementation is the process whereby the goals, strategies, target market, and tools are taken into consideration in creating actionable social media platform-specific tactics.

Each social media platform requires unique and customized tactics to successfully execute the company’s overall strategies for reaching it marketing goals. (The text contains detailed tactics for Facebook, Twitter, LinkedIn, YouTube, Instagram, and Swarm, a part of Foursquare).

b.    Content Development

Developing or Acquiring Content – A thorough analysis of the content needs for each social media platform should be conducted, identifying the specific needs of each community, finding the gaps in content, and either creating or acquiring the content.

Managing Content – Regardless of whether platform content is prepared in-house or outsourced, it will still require editing.

Cross-utilizing Content – A great way to leverage content across platforms is to restructure it for cross-platform utilization.

Breaking Apart Content – Making content into smaller chunks and reformatting it will stretch the utilization of the material, allowing it to appear in various forms on multiple platforms, such as article directories, blogs, microblogs, podcasts, webinars, and discussion boards.

c.    Assignments

In order to execute platform-specific tactics and generate content, specific roles and responsibilities must be assigned based on expertise and availability of staff. The most successful social media marketing efforts result from having nontraditional roles lead the conversation. 

Most of you are creating a plan for a small business, so budget considerations are crucial. If you suggest outsourcing SM content development or management tasks, please provide a cost estimate and make sure it is feasible, given the company’s resources.

Think outside the box here, companies with smaller budget can leverage free resources available to them, usually local Chambers of Commerce offer some free training, see if your local chamber offers SM training the business can take advantage of, recruiting student interns from local colleges and universities is another option, etc.  

Explanation & Answer length: 1400 words.

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