What Are the Appropriate Steps That a Firm Should Take

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The Answer is To illustrate how firms might go about using social media, let us assume a firm was developing a Facebook marketing campaign for a new product. The following steps would help the firm achieve its objective.

1. Identify strategy and goals. The firm has to determine exactly what it hopes to promote and achieve through its campaign. Does it want to increase awareness of the product? Is it hoping more potential customers might visit and like its Facebook page? Is its focus mainly on increasing sales of the product? Depending on what the company aims to achieve, it might focus on developing a Facebook page, creating a Facebook app, or hosting a Facebook event.
2. Identify target audience. The next step is to determine whom the company is targeting. Facebook enables the firm to perform targeting that is based on location, language, education, gender, profession, age, relationship status, likes/dislikes, and friends or connections. The marketer's aim is to find a big enough audience to reach those who might adopt the product without being so big that the company ends up trying to appeal to someone way outside its target audience.
3. Develop the campaign: experiment and engage. Now that the firm knows whom it is targeting, the next step is to develop the communication, including the copy and images. Here again, the process is not very different from any other IMC campaign. There should be a call to action that is clear and compelling. Strong, eye-catching images and designs are important. And the campaign must appeal to the right customers. However, an aspect that is more critical with social media than other forms of IMC is that the images and messages need to be updated almost constantly. Because people expect changing content online, it would be inappropriate to run the same campaign for several months, as the firm might if it were advertising on television, for example.
4. Develop the budget. Budgeting is key. Facebook allows advertisers to set a daily budget: Once their costs (usually per click) reach a certain level, the ad disappears for the rest of the day. Of course, this option can be risky if the firm is getting great feedback and, suddenly, a compelling ad disappears suddenly. Therefore, similar to the campaign content, budgets demand nearly constant review. For example, if a competitor lowers its price significantly, it might be necessary to follow suit to avoid being excluded from customers' consideration sets.
5. Monitor and change. The final step is to review the success of the campaign and make changes as necessary. Facebook's Ad Manager offers various metrics and reports, such as number of clicks on ads, audience demographics, and ad performance for specific time periods.

What Are the Appropriate Steps That a Firm Should Take

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