What is the best way to plan a Facebook marketing strategy?

You have to understand your requirement first. Be sure of what your goal is.

If you are not sure of what your goal for every campaign you run, Facebook may become like a tricky platform that lure you to keep spending more and you may not get a good RoI.

Saying that, there is no one best way to plan a Facebook Strategy. There are lot of things that you need to consider:

  1. Goal. This should be the first on your result, you need to know what you want to have(results). End result that you expect from the campaign.
  2. Target Audience. Not every people react same. You have to be clear on whom you are targeting and you also should able to anticipate their reactions to your ads. Probably you may try various A/B variants. You need different strategies to target various groups/demographics.
  3. Budget. Probably what Coca cola kind of companies run may look like a best strategy for you, but then, you cannot implement that if you are a small time advertiser and so you need a different best strategy. Budget of 100$ will have a different best strategy compared to the budget of 1m dollar.
  4. Time. If you are running your ads on season, you’ll have a huge competition and need a different best strategy than when you run ads on off-season time.
  5. Competitors strength on the products/services you intend to run the campaign for.
  6. And many other factors, but then you should first be very sure on what your exact requirement is.

(Note: This question was previously answered in Quora, here- Karthic Gurnani answers Best Facebook Marketing Strategy).