Rajesh Chandy, Professor of Marketing at London Business School, gives his seven simple strands for making your social media strategy a success. This was first published in Business Strategy Review, Volume 25, Issue 1 - 2014. Subscribe today to receive your quarterly copy delivered to your home or work place. http://bit.ly/BSR-subscribe

1. Rajesh Chandy of London Business
School gives his seven simple strands
for making your social media strategy
work
© Copyright 2014 London Business School
Making your
social media
strategy work

2. BUSINESS STRATEGY REVIEW 2
One
Invest, as nothing is free. Social media requires a
strategic plan, a dedicated budget and the proper
allocation of time and resources. Building a social bond
and engaging with customers is a 24/7, around the
clock, commitment. Ensure that you have people on
hand who can anticipate, engage, and respond. For
example, Starwood Hotels and Resorts spends 75 per
cent of its marketing budget on digital media,
according to Steven Taylor, its VP of Marketing for
Europe, Africa, and the Middle East. “Social media is
now at the very core of our organisation,” he says.

3. BUSINESS STRATEGY REVIEW 3
Two
Put yourself in the consumer’s
shoes. Ask yourself: why would
customers want to engage with
you? The answer sometimes has
to do with intrinsic rewards from
engaging with you, sometimes it
has to do with monetary
rewards, and sometimes it has to
do with the community you have
already created, and the social
rewards it offers.

4. BUSINESS STRATEGY REVIEW 4
Three
Target the influencers before the
masses. Social media is not
about amassing the greatest
number of likes and followers; it
is about reaching brand
influencers and key opinion
leaders who will promote your
product and lead others to buy it.

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Four
Steer but don’t control. Social
marketers can only shepherd
consumer sentiment in their
direction, not control it.

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Five
Strive for transparency. To
effectively engage customers to
develop new insights and serve
as your advocates, you will
probably have to reveal more
about your plans than you’re
used to.

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Six
Involve your top people. You are
unlikely to build anything that is
substantial and sustainable
through social media initiatives
unless those at the top of your
company’s hierarchy put their
weight behind your initiatives
(and do so in a visible manner).

8. BUSINESS STRATEGY REVIEW 8
Seven
Stay true to your brand. Don’t
veer too far from who you are
and what you know. Your style of
communication should be
adapted to suit social media and
your image and tone of voice
should be consistent across all
media.

9. BUSINESS STRATEGY REVIEW 9
This was first published in
Business Strategy Review
Volume 25 Issue 1 2014
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