“It’s hard to find things that won’t sell online” is a quote by Jeff Bezos, founder, and CEO of Amazon. Most organizations today have reacted to this concept by developing some level of Social Media presence. In fact, according to Social Media Statistics, there were 4.2 Billion Social Media users in 2020. As a result, it is important for businesses to develop a competitive Social Media Strategy. For the purposes of this discussion, the example I chose of an organization with a strong Social Media Strategy is IBM, to compare to the Social Media Strategy for my demystifying COBOL blog, which is still weak strategy-wise and a work in progress.
IBM–A Successful Overall Strategy:
As an organization that has an enviable Social Media Strategy, IBM was able to use Social Media to increase sales leads by 400% . IBM has been effective in this category because they not only listen on Social Media, but they also engage their customers in conversations to create a connection with them. They produce and share quality content and have an active presence on most of the main Social Media platforms: Facebook, Twitter, Instagram, LinkedIn, Pinterest, and YouTube. They create current, frequent, quality content, using different formats. In fact, a Social Media Case Study on IBM found that employees are even encouraged to share work-related content on their own personal Social Media. In addition, IBM has video content, which is predicted to be the best Social Media Strategy for 2021. Consequently, I would describe IBM’s Social Media Strategy as very successful.
An IBM SWOT Analysis:
In a 2020 SWOT analysis of IBM, two of its main strengths mentioned are that it is a reputable name in the tech industry with a valuable brand, but one of IBM’s weaknesses is that it has dropped in popularity with the strong competition in the tech industry. In addition, on the one hand, it has the opportunity to take advantage of technical advancements, but, on the other hand, it has the threat of aggressive competition. IBM has an impressive and ambitious Social Media Strategy with over 250 Social Media profiles, but as a leader in the industry, it is also subject to many threats as well as weaknesses. It would be considered to be in the upper end of the Social Media Strategy spectrum and has the strengths and opportunities to mitigate any weaknesses and threats.
My Blog–No Social Media Strategy:
In mid 2019, it was reported that 40% of small businesses had no Social Media Marketing Strategy. Currently, my blog, www.demystifyingCOBOL.com, has no detailed Social Media Strategy to either monetize it through ads or generate revenue through selling products. Per the 2021 guide to building your Social Media Strategy, the steps to follow are: 1/ Set goals that make sense for your business; 2/ Take time to research your target audience; 3/ Establish your most important metrics and KPIs; 4/ Create (and curate) engaging social content; 5/ Make your social presence as timely as possible; and 6/ Assess what’s working, what isn’t and how to keep improving. A new and evolving blog business such as mine needs to go through all of these steps to develop a Social Media strategy that will allow it to become, and stay, relevant in today’s competitive Social Media market. The goal is to move steadily out of the weak bottom of the Social Media Strategy range and generate revenue from my Social Media presence.
If you have a business, where would your Social Media Strategy fall on the spectrum? Would it be highly successful, proven, and strong like IBM; emerging and yet to be developed like mine; or somewhere in the middle?