How Much You Should Spend on Social Media Marketing

The social media has given a platform to reach and meet millions of people from all over the world.  The social media is the biggest platform and its reach is quite large. Specific audiences can be targeting via several social media angles. Business, colleges, NGOs, government agencies and other institutions put a lot into social media marketing.

It is not surprising to hear some companies having a budget as big as $10 million for social media marketing. However, some companies spend a lot less. Well, where our target audiences are can be different and each needs to face its audience squarely and with all possible tools.

To capture the audience in a much better way, businesses prefer to pay for ads as social media platforms like Facebook only allow posts to get to about 5% of followers. This is a business strategy for them but it is also a call for bids. Businesses outbid each other in the race of getting to target audience early enough. Thus, companies with a lot of resources put in several huge figures for their social media campaigns.

However, social media isn’t such a great deal for small businesses and startups. If you’re on a budget, all of this can brutally limit your growth and acquisition opportunities.

It is very important to note that social media marketing goes beyond paid social. There is paid social, paid search, email acquisition, organic social, organic search (earning traffic through content), public relations, influencer marketing, and earned media. You should identify a few channels that can work for you. If you aren’t sure which the best is for your target audience, you may have to set some few dollars to experiment on a few social media platforms.

Apart from putting money on the online platforms, you may need to make your content very creative. Typically, creative and engaging advertising efforts connect with audiences better, gain organic momentum, and are more likely to get comments, likes, and shares. Enjoyment is primary measured by likes and shares. In other words, good quality content has to potential of reaching more customers at a lower cost per interaction. The creativity would spark public curiosity to what you are advertising and would pull more traffic. Get designers and brand strategists to help create something catchy for the audience – something different from a guy in pajamas holding cash and a caption saying: Make Money in Your Sleep.

You should decide which of video or images would work best for you. Videos can be expensive but can be very helpful. It can be over a range of platforms and even cut at any part and would still make meaning.

You should understand that social media marketing is key but you should not sacrifice your business if you cannot afford some of the high ends social media marketing techniques.  Be creative and consistent at the very least.