Global Journal of Management and Business Research, E: Marketing, Volume 23 Issue 1

o One-third should be to share personal interactions and build relationships with the customers. − Create content of various types, including User- generated content (UGC), videos, live streams, infographics, etc. − Create a social media calendar to help with timing the content creation and publishing process and drive automation in the content process. A typical simple calendar will consist of content topics by day or week and the platform where it will be published as demonstrated below. Figure 1: Illustrative Social Media Calendar with Sample Content Ideas e) Performance Measurement Measure how social media campaigns are performing to understand the impact of the social media strategy. It can be achieved by defining the right metrics, setting up detailed tracking, and capturing and analyzing data regularly. Moreover, it is essential to measure the performance against overall business and marketing goals. Below are key metrics that are a good starting point: o Reach: # of users who see content in a specified time o Click-through Rate (CTR): # of users who see the content end up clicking on it o Engagement Rate: # of followers interacting with the content (e.g., likes, shares, comments, retweets, etc.) o Subscribers/Followers: # of subscribers on a platform III. R esearch M ethod The report analyzes social media strategy and performance of three leading department stores in the US – Macy’s, Nordstrom, and Kohl’s. The data captured using RivalIQ includes information on various metrics (posts, likes, tweets, comments, etc.) across five social media – Facebook, Instagram, Twitter, YoutTube, and TikTok from April 21, 2023, to May 20, 2023. One thing to note is that all three brands don’t have Twitter performance data other than the number of followers. Below is sample data collected to analyze how the brands approach their social media strategy and their performance reflected through total followers and how they engage with social media posts. Table 3: Total Number of Followers Across the Social Media Platforms (April 21, 2023, To May 20, 2023) Total Number of Followers Facebook Instagram Twitter YouTube TikTok Total Macy's 14.7M 2.3M .9M .1M .5M 18.5M Kohl's 11.6M 1.5M .8M .3M .1M 14.3M Nordstrom 5.1M 3.5M .7M .2M .M 9.5M A Data-Driven Approach and Framework to Social Media Strategy and Performance Measurement for Brands 67 Global Journal of Management and Business Research Volume XXIII Issue I Version I Year 2023 ( )E © 2023 Global Journals