Setting Up Your Social Media Budget
Dealing with budget changes is a difficult job, especially if you are running a business and you need to make room for a new department: social media. Because every company can benefit from joining the social media world, it is important to figure out how much you should spent on this aspect and how to start getting involved. Luckily, there are no clear rules, so if you know a thing or two about online marketing, you can create your own strategy and outshine your competitors.
Focus on Your Objectives
Social media is open for anyone, but you shouldn’t pick up strategies used by some of the largest companies in the world. Obtaining similar results might cost you thousands of dollars, so try to assess your needs and act accordingly. If your objectives are freezable, you will end up spending less money and the results will be visible without taking risks. As soon as you have a clear idea of what to expect from social media on a certain budget you can turn your attention to creating the right strategies.
Social media is not something you can do on the side. You need to hire a couple of people to be in charge of your efforts and everyone needs to know exactly what they’re doing. Once you go online, people will start asking questions and get in touch with you. This is the world of transparency and you won’t be able to avoid or postpone direct contact with your potential customers. If someone has a question, your team needs to know the answer. They also have to be prepared to deal with certain delicate situations or technical difficulties. If everyone has a clear role in your company, their jobs will be easier.
Analyze the Results
Depending on what you’re trying to obtain from your involvement in social media, you have to figure out a way to analyze the results and see where to go from there. In most cases, obtaining clear facts and figures is not that difficult and you will probably have a very detailed activity list at the end of the month. The tough part is analyzing it and making the difference between what you did right and what you did wrong. You can always make minor changes to your strategies and you will eventually figure out which is the best path to social media success.
Your social media budget should cover the costs of hiring a few new staff members and offering them the resources necessary to succeed. Besides that, you always have to invest in social media advertising and make your presence known as soon as you go online. This won’t be cheap, but if you do it correctly you can consider it an investment and it will eventually pay off. Keep in mind that you can always think outside the box and create your own social media strategy; if you’re lucky, it might work better than you expect.