Social media strategy and implementation plan for Home Depot

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Social media plan for Home Depot

Home Depot is one of the favorite stores of the American population, having established a powerful name within the communities. The company also operates outside the United States, through stores located in Mexico, Canada and China. The format of Home Depot is that of large size stores, where customers can buy virtually any home related products, including gardening tools, furniture or remodeling materials.

The success of the organization is due to a multitude of elements, such as the positive relationship established with the customer, the strong financial results obtained by the firm, the powerful managerial model, the strength of the brand or a powerful internal culture (Davila, Epstein and Manzoni, 2010). An important element for Home Depot is the "Do it yourself" mentality which is propagated in the stores, and which engages and stimulates the customers.

Aside from this model however, the company could benefit more if it promoted itself and its products and services at a more extensive level, within the online community. In other words, it is hereby recommenced for the company to develop and implement a social media plan.

2. Mission, vision and goals

Home Depot envisions itself as the first choice of customers in the United States, but also other global regions, in the purchase of home related items. The company seeks to be a valuable member of the community and support its development, alongside with the creation of jobs for the population and the safeguarding of the environment. All these objectives are considered and implemented in a means to finally attain profitability objectives for the firm, who wishes to create value for its shareholders.

In terms of the company's mission, this is based on the desire to create solid partnerships through which to support innovation and advancement for shareholder benefits.

"Our mission is to form mutually beneficial partnerships with diverse businesses that allow us to deliver superior and innovative products and services and superb customer service, which ultimately increases shareholder value. We are committed to creating effective competition utilizing all possible sources. We will actively seek targeted small and diverse businesses and provide them the opportunity to partner with The Home Depot to provide competitively priced, high quality goods and services to our customers" (Corporate Website of Home Depot, 2012).

4. The target audience

The scope of the new social media campaign is that of addressing as many customers as possible and alluring them into the Home Depot stores and websites. The population targeted by the campaign is normally represented by young and educated people, who use the internet on current basis. Also, they belong to the medium and upper average income groups so that they afford to make purchases from the stores. They are both males and females.

5. The social media engagement strategy

In order to promote the company's message and engage new customers, the social media campaign would be constructed based on promotions on three different websites, namely Facebook, Twitter and Pinterest. Facebook is the most popular social website, and one important feature it reveals for companies is the tracking of searches and online activity of its users, which it then sells to companies. The organizations can then easily target individuals specifically interested in home related purchases and directly address them. This means that Home Depot's campaigns would be successful and efficient since it would only target people interested in its products and services, and would not waste time and resource addressing people who are not interested in the store's products.

Then, on Twitter, the company would also create the ability for its millions of interested customers to follow its posts. The company would have to maintain an active page on Twitter and make interesting posts about home making tips, as well as store discounts, new products and other elements of interest for the customers.

Last, with the aid of Pinterest, Home Depot would also be able to target specific customer segments which would be interested in the company's offer. This website allows its users the possibility to organize groups and share interests, meaning that Home Depot could easily identify the people interested in home making topics, but also the people interested in specific Home Depot elements (Hines, 2012).

All in all, the social media engagement strategy is based on the creation of advertisements to be promoted on the social media websites, as well as the development of a specific relationship with the identified target market. The company should maintain close relationships with the social media consumers, present them with valuable information and intriguing offers in order to draw them to visit the real or virtual store. The key success factors of this campaign are represented by the ability to reach the consumers in an efficient manner and use the social media to develop powerful relationships with the audience.

6. Measures for success

In order to assess the success of the media campaign, three specific efforts should be completed, as follows:

The assessment of the sales levels before the implementation of the plan and after its implementation.

The assessment of the number of customers in the stores and online visitors at the Home Depot website before the implementation of the social media plan, as well as in its aftermath.

The comparison of the costs incurred in the development and implementation of the social media plan and the financial gains generated from the increase in the net sales after the plan's implementation.

References:

Davila, A., Epstein, M.J., Manzoni, J.F. (2010). Performance management and management control: innovative concepts and practices / Emerald Publishing Group.