Due to its dynamic and emergent nature, the effectiveness of social media as a marketing communications channel has presented many challenges for marketers. It is considered to be different to traditional marketing channels, and even other digital marketing channels, centring around a two-way conversation or exchange (Bacile, Ye and Swilley, 2014; Shih, 2009). Many organisations are investing in their social media presence because they appreciate the need to engage in existing social media conversations in order to protect their corporate or brand reputation (Lee and Youn, 2009), increase customer engagement (Gummerus, Liljander, Weman and Philstrom, 2012) or increase online sales (Tsimonis and Dimitriadis, 2014). As organisations increasingly develop their social media presence, it is vital to be able to evaluate the impact of this investment, including its contribution to achieving marketing objectives, as well as more generally understanding any return-on-investment (ROI) (Pang and Lee, 2008; Fisher, 2009; Kumar and Mirchandani, 2012; McCann and Barlow, 2015). Research into social media strategy is limited. There is some research in this area on some specific aspects of strategy, such as reputation management (Rokka Karlsson and Tienari, 2014), the drivers, activities and benefits associated with social media (Tsimonis and Dimitradis, 2014), practitioner case studies using one organisation such as Finnair (Jarvenpaa and Tuuainen, 2013), B2B companies adoption of social media (Michaelidou, Siamagka and Christodoulides, 2011) and the integration of social media into strategic marketing (Choi and Thoeni, 2016). Choi and Theoni (2016) in particular identify a number of challenges in the area of social media marketing (SMM) and suggest that further research is necessary. There is a growing interest in the evaluation of the impact of SMM including research driven by the need to demonstrate the return-on-investment (ROI) from SMM (Fisher, 2009; Hoffman and Fodor, 2010; Kumar and Mirchandani, 2012; McCann and Barlow, 2015). There is also interest in the potential of SMM to enhance firm and brand equity (Luo, Zhang and Duang, 2013; Tirunillai and Tellis, 2012).