The study of trends in the development of social networks as a tool for communication is carried out and the potential for business promotion is determined. The advantages provided by social media tools for the formation and development of a digital marketing communications system are identified. The features of social networks are revealed and their role in the formation of a digital marketing strategy and SMM strategy as its integral part is shown. It is proved that effective business promotion in social networks requires planning, information and analytical support, content marketing, monitoring, and control, which is possible when developing an SMM strategy. The author’s own scheme of forming a strategy for promoting business in social networks is proposed, which includes business goals, objectives, analytical component, management of promotion in social media, and a system for monitoring and evaluating efficiency.