Social Media Strategy Options

Definition of social media strategy options

We refer to alternative social media strategies as strategy options / social media strategy options. In pbsm we also use the term strategy version.

Source / Basis

Social media strategy options arise from the social media options available to the organization or company in social media. Based on these options and company goals and priorities, one or more strategies that make sense for the company arise from which the final social media strategy is developed or selected. In the case of different but equal priorities of a strategy, developing strategy versions is one way of ultimately developing the best strategy.

Social Media Strategy Options

Importance

We use social media strategy options to develop different strategies with different strategic focuses. The benefit of social media strategy options lies in the development and evaluation of different strategic approaches. From the perspective of different focuses, we develop alternative strategies and recognize their effects, chances of success and requirements. This broadens our horizons overall, enables us to choose from different approaches and thus increases the likelihood of the best possible social media strategy.

Strategy options contain the same content as a final strategy and thus also enable the assessment of resource requirements, the interactions between the strategy components and the opportunities, risks, prerequisites and assumptions underlying the strategy.

Using strategy options/strategy versions, we can also take into account different priorities from functional areas.

Application

Social media strategy options are based on the social media options for action for the market, business model, competition and growth as well as the corporate strategy or the corporate priorities from these areas.

This means that on the basis of the options for action, we derive strategy options with different focuses that best correspond to the corporate strategy or the corporate priorities. From these strategy options, we select or develop the final social media strategy. The decision on the strategy option that the company uses is a business decision and should be made by the management.

Social media management has the task of preparing the decision on the final social media strategy, in particular of presenting the opportunities and risks of the individual strategy alternatives. The inclusion of the functional areas of the company and the consideration of their priorities can be made easier using strategy versions / strategy options. Since the final decision on the final social media strategy is made by the management, the collaboration with the functional areas in the strategy development and in the subsequent implementation of the strategy is less stressful than if social media management has to reach agreement on a strategy version in the development process.

Criteria for choosing the final social media strategy

The criteria for deciding on the final social media strategy are also company-specific in nature, but should include, if possible:

  • Support of the business model: the effects of the social media strategy on the business model as a whole and on its individual components.
  • Support of growth goals: the effects of the social media strategy versions on the company goals / growth goals.
  • Competitive risks: the competitive risks associated with the strategy option.
  • Possible competitive advantages: the competitive advantages possible through the strategy option
  • Sustainability / durability of the effect: the time horizon of the competitiveness of the strategy and the effect achieved with it, if foreseeable. The comprehensibility of a strategy or the possibility of competition neutralizing the strategy should also be taken into account.
  • Resource requirements: in addition to the quantitative resource requirements, the qualitative resource requirements and here also the necessary qualifications and skills of social media management are also a criterion for selecting strategies. However, it should be noted that the status quo in these fields is not a decisive criterion. Versions of strategies should not be rejected because the existing competency profile in social media does not meet the requirements of this strategy.
  • Complexity: Performance and complexity of strategies do not necessarily go hand in hand. High complexity has a higher risk of problems in implementation.
  • Flexibility: the adaptability of strategies is a plus point in such a dynamic environment as social media.

Current situation

Options for action are currently not used in the development of social media strategies because social media managers lack the necessary strategic competence.
Their strategy training is limited by the focus on measures rather than strategies and on the application of the POST framework. The latter does not lead to strategies in methodological terms.
As far as I know, there is currently only the pbsm strategy model, which was developed specifically for the development of social media strategies based on social media performance potential, business models, options for action, competition and company resources and thus meets the requirements of a valid strategy.

A free online strategy course introduces the basics and application of the method. Individual support in the application of the method is available upon request.

Further Informations

pbsm strategy model (website)

pbsm strategy model (download)

basics strategy modell (free download)

free strategy course

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