Question MAR 4233 Florida International University Social Media Marketing Plan Discussion Social Media Marketing Plan Assignment Introduction: Why is a Social Media Marketing Plan Important? A marketing plan is a fluid document that details a firm’s marketing objectives and strategies over a specific time period (i.e. over the next one, three or five years). It’s like roadmap that outlines the company’s social media marketing goals and the steps required to achieve those goals. The marketing plan also specifies other marketing details such as the target audience and the costs of all the activities. And, it highlights general market details, such as industry insights, competitive landscape, and a company overview that discusses how the company fits into the industry. A good marketing plan will include the following: Clarify the target audience Give insights to build marketing assets and messages that will resonate with the target audience to deliver results Provide direction to help weigh options and determine the best course of action for the company Build in tracking mechanisms to monitor performance It is important to note that the plan is a fluid, working document. The marketing plan should change and evolve as your company grows, as customer needs change, as new trends develop, and as the market shifts. Additionally, marketing plans should be reviewed and referred to often. Continuous review of the marketing plan helps companies stay focused and make decisions that help the company reach its goals via the marketing strategy. With this assignment, you will be able to distinguish the value in the social media and marketing function towards user engagement, identify and apply theoretical frameworks that pertain to social media marketing and develop social media and content strategies into fundamental marketing activities. Common Characteristics across Marketing Plans Regardless of the type of marketing plan the company decides to build, below are the common characteristics (i.e. content) included in most marketing plans: Executive Summary Situational Analysis: Market Overview with a Competitive Landscape Company Profile, SWOT Analysis and Goals Target Audience Overview and Segments Budget Timelines Ongoing Tracking & Measurement Your Assignment: Build a Social Media Marketing Plan for your company of choice Now that you completed your strategy project, use the same company and determine what your goals are based on your research. You can use their biggest weakness or biggest opportunity as a goal. (ie grow audience, highlight a new product, traffic to site, etc) What to Include in Your Social Media Marketing Plan Your project should be in a PowerPoint presentation as it would be in real life, to present to c-suite level leaders or your department leads. Grammar counts and visuals do too. To narrow the field for this assignment, students must include each of the sections outlined below. And, within each section, students must address the specific questions outlined within that section. Of course, students are encouraged to add additional content to each section below. However, in order to consider a section as complete, at least the questions listed must be addressed. Sections Overview I. Executive Summary II. Objectives & Strategies III. Target Audience(s) IV. Content Creation Strategy V. Timeline with Cost Structure VI. Success Tracking Tools & Metrics Questions to Address in Each Section To fully complete each section, each student must address the following questions. Executive Summary: (This is a short 2-3 paragraph explaining the following) Who is your target audience? What is your company’s strength? Weaknesses What are your competitors doing on social media? What is your opportunity to stand out? What is your goal and your tactics? Set a budget (This will depend on your company but an average is about $500 per ad per month How you are measuring this – short version Remember, even though the Executive Summary is the first section of your plan, it should be the section you write last. Objectives & Strategies:…
