Budgeting For Social Media


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These are the slides for our November 4, 2009 webinar featuring special guest Lindsey Patten of the popular blog Notes for Non-Profits (notesfornonprofits.blogspot.com)!

Is your organization interested in diving into the social media pool? Before you jump in headfirst, it's important to examine the hidden costs associated with social media tools like Facebook, Youtube, Twitter and more. This webinar will cover budgeting issues from the planning process to your continued use of these tools. Learn how to budget your time and money and assess whether social media is right for you.

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Budgeting For Social Media

  1. 1. Budgeting for Social Media November 4, 2009 For audio, turn on your speakers, or Call 1-516-453-0014; Code 522-643-822
  2. 2. CanadaHelps.org What is CanadaHelps? A public charitable foundation that provides accessible and affordable online technology to both donors and charities. For Charities A cost-effective means of raising funds online. For Donors A one-stop-shop for giving. CanadaHelps is a charity helping charities. For audio, turn on your speakers, or Call 1-516-453-0014; Code 522-643-822
  3. 3. Today’s Presenter • Lindsey Patten • Communications Consultant • Synthesis Communications • www.notesfornonprofits.blogspot.com For audio, turn on your speakers, or Call 1-516-453-0014; Code 522-643-822
  4. 4. Reminders You can hear us, but we can’t hear you Type questions in the Questions Log Webinar recording and slides will be available on www.mycharityconnects.org Turn up your volume For the best webinar experience, close all other applications. For audio, turn on your speakers, or Call 1-516-453-0014; Code 522-643-822
  5. 5. Budgeting for Social Media
  6. 6. Presentation Objectives You will learn: A Major Social Media Myth Before You Budget The Components of Budgeting 3 Stages of Budgeting ROI versus ROE
  7. 7. What is Social Media? Social Media is defined as: Online content created by people using highly accessible and scalable publishing technologies. At its most basic sense, social media is a shift in how people discover, read and share news, information and content. It's a fusion of sociology and technology, transforming monologues (one to many) into dialogues (many to many) and is the democratization of information, transforming people from content readers into publishers. www.wikipedia.org
  8. 8. What is Social Media? Another definition: Social media is born out of the need to combat the isolation of technology. As human beings, our inherent nature is to build and be a part of a community.
  9. 9. The Conversation Prism
  10. 10. MYTH Social Media is free.
  11. 11. Before You Budget 1. Assess Your Current Tools 2. Assess Your Resources 3. Determine Your Objective
  12. 12. Components of Budgeting Time Money
  13. 13. Time Why do we have to budget for time? How to budget for time: $20 an hour x 1 hour a day x 5 days a week= $100
  14. 14. 3 Stages of Budgeting for Social Media Planning Process Initiating Continuing Use
  15. 15. Planning Process For every social media venture you take on, a planning process needs to be in place. Included in this planning process is a budget. It is crucial that you budget for social media ventures. Although they appear to be free from the outset, they can cost a significant amount of time and money.
  16. 16. Planning Process Costs during the planning process include: Contractors Research Extra Staff Social Media Plan Technology Advertising
  17. 17. So let’s break this down: Research •Survey emails composed and sent: 2 hours x $20 •Collecting responses: 1 hour x $20 $120 •Researching available social media tools: 3 hours x $20 Contractor •Assess organization and provide comprehensive social media plan: $350 10 hours x $35
  18. 18. So let’s break this down: Staff Time •Consulting with contractor: 5 hours x $20 $100 Advertising •Add special insert in latest direct mail $50 for 250 people: Total for Planning: $620
  19. 19. Initiating Initiating social media can come with costs as well. As soon as you have determined what social media outlets you have chosen to use, you must then face additional challenges.
  20. 20. Initiating Costs during the initiating process include: Staff Time Design Training Content
  21. 21. So let’s break this down: Training •Training staff about message as well as $100 how social media works: 5 hours x $20 Staff Time •Posting to Twitter/Facebook/Blog for $20 one year: 1 hour a week x $20= NOTE: Per year, this staff time would cost $1000
  22. 22. So let’s break this down: Design •Design background for Twitter account: 3 $60 hours x $20 Content •Create enough blog content for one $100 year: 5 hours a week x $20 NOTE: Per year, this content would cost $5000 Total for Initiating: $280
  23. 23. Continuing Use It is extremely important to take in account not only your initial use of social media, but all continuing aspects. Think of your current campaigns as well as your future ones and how you plan to integrate social media into them.
  24. 24. Continuing Use Professional Development Future Costs Staff Time Campaign Costs
  25. 25. So let’s break this down: Professional Development •Money for the upcoming year: $100 • 5 hours x $20 Future Costs •Charges for new technology: $200 Total for Continuing Use: $300
  26. 26. Total Budget for Social Media $1200
  27. 27. ROI/ROE After budgeting for all of the above, it can be difficult to assess whether social media can offer you up the proper return on investment for what you are putting in. There has been debate amongst charities regarding the use of ROI (return on investment) versus ROE (return on engagement).
  28. 28. ROI/ROE Defining social media as a direct source of funding (like a direct mail piece) can be impossible. Instead look at it’s potential as you would a newsletter. There can be no ask, but it can still affect your bottom line. Although the debate about social media and ROI will continue, it’s important for you to look at what works best in your organization.
  29. 29. Thank You www.twitter.com/lindseypatten www.lindseypatten.com
  31. 31. www.mycharityconnects.org • Free online resources Next Webinar • Information about technology “What Would Harvey Do? An • Video demonstrations introduction to social media using the (hypothetical) case • More webinars study of Harvey Milk” • Past webinar recordings NOVEMBER 18 • Learning opportunities 2PM – 3PM • Events (Eastern Time)
  32. 32. Question and Answer You can hear us, but we can’t hear you Ask questions here Ask away!
  33. 33. Thank you for attending! Webinar slides and recording will be up on: www.mycharityconnects.org/pastwebinars Check out www.mycharityconnects.org for more resources! Questions, feedback, comments? Email Carlo at: carlo@canadahelps.org Thanks to: