Definition of precision in strategy
Remember the strategy mnemonic
Strategy is to use resources in a way that create the greatest benefit. That means in a strategy we decide which benefit wie could and will achieve in which markets with our available means and resources. Developing a strategy means defining realizable goals for markets, the benefits we want to achieve in these markets and the means by which we want to and can achieve this.
When we talk about precision in a strategy, we are talking about focusing objectives, means and resources as precisely as possible in order to address markets as precisely as possible.
Distinction between strategy and tactics
We should also make a very clear distinction between strategy and tactics when it comes to precision, because this distinction has a fundamental impact on our activities and their success.
- In a strategy, precision means how precisely we define our goals and align our resources with these goals.
- At a tactical level, precision means how exactly our measures are aligned with and realize the objectives of the strategy.
key learning
- Strategy answers the question: what we want to do
- Tactics answers the question: how we will do it in specific terms
Precision in strategy in social media
In terms of social media strategy, this means how precisely a social media strategy focus on in the selected field(s) (of a market) in order to achieve the desired effect / benefit.
To distinct strategy and tactics: prcision in social media tactics means how precisely we design our means to achieve the desired effect / benefit.
Example
- Strategy: we have decided in our strategy that we want to find and retain new customers via a community on a specific topic.
- Tactics: The design of the community – where we establish this community and how it is structured (functions, management) i. e. – is decided at the tactical level. The design must ensure that it is powerful enough to realize the strategic goal.
Interaction strategy and tactics
There is a sometimes confusing interaction between strategy and tactics. A strategy must specify feasible paths to success, and therefore it must also take into account the competitive situation and thus also the competitiveness of the various possible means (from the tactical level).
If this is not done, the success of the strategy is questionable.
Meaning of precision in strategy
Precision is a competitive advantage in both strategy and tactics. If we can achieve a benefit or effect with less effort, our strategy is more economical. This means we can achieve more with our company resources than competitors with less economical strategies, or we need fewer resources to achieve a goal.
Methodical precision in strategy
The use of more precisely structured market segments or a methodically better secured competitiveness of strategy content are ways of creating methodologically based competitive advantages. However, this is always only possible against competitors who use less effective methods of strategy development.
Using precision in strategy for social media
A social media strategy defines the achievable benefits of social media for the company’s business model. Precision in strategy is the tool therefore.
Precision in strategy means determining the potential benefits of social media for the success of the business model as precisely and comprehensively as possible. The general potential benefits of social media for companies are a fixed value that every social media manager should be aware of. Applying this performance potential to an individual business model leads to the individual performance potential of social media for a specific business model. This individual performance potential is one of the foundations of the social media strategy.
With precision in strategy we can determine the individual performance potential of social media for a specific business model, the more precise and therefore more successful and economical our social media strategy can be.
The more precisely we can assess the competitive situation, the higher the probability that our strategy will be competitive.
Benefit of precision in social media strategy
In this article, we have identified several benefits of greater precision in the strategy and will briefly summarize them.
- Benefit: using precision in strategy we are able to determine the overall benefit of social media for a business model, the greater the potential contribution of social media to the company’s success. The more precisely we know the individual benefits for the smallest segments of the business model, the more effectively we can support the success of this segment. Precision in strategy is the foundation benenfits are based on.
- Competitiveness: If we can identify the competitive situation for every possible use of social media, we can develop strategies that can realize the best possible benefit by avoiding competition where it cannot be won and only investing resources where it is possible. This enables a strategy based on the method of defeat in detail. Precision in strategy is the foundation competitiveness is build upon.
- Economy: Strategy revolves around and is based on economy. With a method that uses resources more effectively because it allows us to focus on the most important realizable benefits and avoid competitions that cannot be won, our strategy becomes not only superior in content but also more economical. Precision in strategy is the foundation economy is build upon.
The Reality of Social Media Strategies
We have learned about ways in which we can develop superior social media strategies that enable significantly greater benefits, are more economically viable and more competitive.
If we take a look at reality, we see companies that do not have a social media strategy or use something that only has the name in common with it.
The cause of this problem is a lack of strategic competence in social media. This in turn results from the fact that this qualification is taught in a marginalized manner at best in training.
How to check your own situation
- If your company does not have a social media strategy, the situation is clear. The company is burning money without the chance to reap the potential benefits of social media. If you are responsible for social media, change that immediately.
- If your company uses a would-be strategy, the situation is hardly better. A real strategy you will do better.
- If your social media strategy is not based on the potential benefits of social media for your business model, your strategy is inferior. You need a more powerful strategy and more social media strategy expertise in the company.
- If your social media strategy is not based on the competitive situation, it is not competitive. You need a more competitive strategy and more social media strategy expertise in the company.
Methods of Strategy Development in Social Media
We have realized that the method we use to develop social media strategies also determines whether our social media strategy is powerful or superior or whether it is inferior and uncompetitive.
Unfortunatly most do called social media strategies are inferior and not competitive at all.
If you google the topic of social media strategy and business models, you will find many hits with business models for social media and many social media marketing plans and recommendations.
However, there is currently only one method with which you can develop social media strategies based on your business model and its individual social media performance potential and the corresponding competitive situation. This is the potential-based strategy model pbsm. It ensures extraordinary precision in the strategy, which is also the basis of competitiveness and economic efficiency and enables the aforementioned advantages.
Get unique social media strategy competence by method: become a pbsm.strategist
The pbsm can even be learned for free (without grade) and offers the competitive advantages described until it is used generally. You will find the link at the end of the article.