How Much Money Should Your Business Spend On Social Media?

Who’d have thought that when Facebook first hit the scene, we’d one day be spending money to promote our business with it? That’s the way life is these days, and social media has become one of the most effective marketing techniques around. We’ve found ourselves in the position where we actually create a social media marketing budget. But, how much money should we actually put into this pot? Let’s discuss.
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Which Platforms Do You Want To Target?

You might think that a successful social media marketing campaign is all about Facebook and Twitter. You’re wrong. Nowadays, there are many other platforms that deserve just as much of your attention. Take Instagram, for example. What about WhatsApp? The more platforms you want to target, the more money you might have to put into this fund. Equip yourself with the relevant knowledge you need to determine which platforms you want to focus on.

Do You Know What You’re Doing?!

If you’ve never been involved with social media before, stop what you’re doing right now! You can’t just expect to be successful if you’re going headfirst into a social media campaign. You need the skills to succeed, and they won’t just appear overnight! So, do you need to outsource this task to marketing specialists instead? That’s something else to consider when it comes to the budget.

Research Industry Trends

It’s all well and good spending $$$ on social media, but is there actually any point? Is your company targeting elderly customers that likely won’t be flocking to Twitter in their droves? It’s important to take industry trends into account before you go crazy. This will help you to target the right people, for the right budget. No unnecessary spending is required!

Is Paid Promotion Part Of Your Plans?

Many social media platforms offer paid promotion in order to reach more viewers with your content. Again, this isn’t something you want to just chuck a bunch of money at. You need to determine which posts you want to promote, how much you want to spend and who you’re targeting. All of this must be taken into account for your budget, as it could get quite expensive!

 

Do You Need Specific Branding?

Have you ever come across a particularly bad-looking social media page before? I have. I kid you not – some businesses use Microsoft Paint to create their Facebook profile page. Don’t do this! If you want to look professional, you need to take this matter seriously. Is it worth spending a little extra on exclusive branding for your pages? Do you need expert help to set correct dimensions for your pictures? All of this has the potential to cost your company money, and you need to be prepared for it.

If you came to this article with the view that spending money isn’t necessary, we hope we’ve been able to change your mind. Social media is a key part of any business’s marketing strategy in 2016, and you have to be willing to put funds into it. Hopefully, success will follow!

 

These Images Were Taken From Pixabay.com – Links – (I, II, III, IIII, IIIII)


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