So much rubbish is talked about Social Media Marketing Strategy. Most online commentators discuss tactics disguised as "strategy" -- choosing one platform over another, how to 'engage' with audiences, tone of voice and content, blogging and publishing.
Strategy is at a much higher level. It is part of a total marketing communications approach and whether to use social media marketing at all. Strategy is rooted in an organisation's marketing aims and how much resource needs to be deflected from more conventional off and online activity into Social Media Marketing.
Research is been undertaken into calculating the effect of peer-to-peer influence in online networks but, while the boffins deliberate, Social Media Marketing Strategy is based on first listening to the buzz and sentiment about a brand or organisation and then, based on the results from the array of listening tools available, using fairly old-fashioned analysis.
Buzz monitoring tells you where, what and with what flavour. Finding an organisation's social media voice is based on a rational reaction to the findings. Activity tables can be built detailing tactics, platforms and forecast outputs. Measurement tools can be put in place with regular buzz and sentiment monitoring for periodic analysis.
A baseline of activity should be built so that 'big ideas' -- applications, podcasts or competitions -- can be overlaid on more routine activity. A regular publishing platform is necessary, one that can be used by marketing staff. This almost certainly means a WordPress-based blog, although the technology is less important than the principle.
Time and spend can then be compared against SEO, PPC and email marketing, although these disciplines may well be part of an integrated online strategy. It helps to have a time-measurement tool (like Basecamp) so that activity as well as money can be analysed. A sophisticated website analytical tool will also help.
It is clear for B2C brands that it is not so much if as how much. For B2B markets, there is less of a clear case.