Marketing strategy in social networks: theoretical and practical basis

Abstract

In the current market environment, a number of small and medium enterprises utilize social media platforms (SMM) as key channels for brand promotion. This trend is primarily due to the effectiveness of these platforms and their ability to cover a significant target audience. Entrepreneurs employ digital marketing tools, tailoring their offers to the target audience. The purpose of this article is to identify and explore the theoretical and practical basis for developing a marketing strategy in social networks. The analysis results have shown an increase in scientific publications from 2006 to 2023. The leaders in publication activity are scientists from the USA, Australia, and Spain. Based on the results of summarizing the scientific work, the article systematizes the main challenges companies face when implementing SMM strategies, namely: the absence of a clear strategy, incorrect positioning, uncertainty of the target audience, and irrelevant content. The authors have analyzed approaches to defining a marketing strategy in social networks and described examples of effective implementation of such strategies by global brands. The article argues that one of the catalysts for the avalanche-like development of SMM is the COVID-19 pandemic. It is determined that the theoretical foundation of the marketing strategy in social networks is based on the principles of digital marketing and takes into account the specifics of conducting a dialogue with users in virtual space. The key components of such a strategy are content marketing, interaction with influencers (influencer marketing), community management, and data analysis (data analytics). The practical aspect of the marketing strategy in social networks includes developing specific tactics and methods for implementing strategic goals. This encompasses creating content plans and developing and conducting SERM (Search Engine Reputation Management) campaigns. The authors have substantiated the need to develop integrated and flexible SMM strategies that take into account the uniqueness of each social network and the needs of target audiences, trends, and innovations in digital marketing