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How Much Should You Be Spending On Social Media Marketing

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A 60 minutes webinar, where we will talk about various aspects that should be looked into while preparing a social budget for your business.

You’ll learn about:
- How much should you be spending on your social media marketing?
- The importance of performing a Social Media Audit before finalizing anything concerning budget
- The effect of creativity on ROI, and much more

Watch the complete webinar here - https://www.youtube.com/watch?v=Vhw4AVLRCrQ

Published in: Marketing
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How Much Should You Be Spending On Social Media Marketing

  1. 1. Webinar: How Much Should You Be Spending On Social Media Marketing?
  2. 2. Join us on Twitter using #BrewTalk
  3. 3. Agenda ● Measuring the success of past campaigns and Social Media presence Audit. ● What amount of Gross Revenue to spend on Marketing ● % of the marketing Budget to be allocated to Social Media ● Defining the Target Audience ● Choosing Social Media Channels and the channels that allow advertisements ● The effect of creativity on the ROI & Cost ● Video content vs Static image content marketing ● Additional costs for Advertisement expenditure ● Things to keep in for a more informed Budgeting process
  4. 4. Objective A clearer vision of all the peripherals while budgeting for social media marketing and being sure that all dollars spent on social media marketing are used wisely.
  5. 5. Social Media Audit What is a Social Media Audit? We perform a Social Audit to analyze and review the three main factors of our social media marketing: ● Which strategies are working and giving us optimum results ● Which strategies are not working and are repeatedly failing to give good returns ● What can be done to achieve better results on our chosen social media platforms
  6. 6. What amount of Gross Revenue is being spent on Marketing SOURCE: www.webstrategiesinc.com
  7. 7. % of the Budget allocation to Social Media SOURCE: www.webstrategiesinc.com
  8. 8. Defining our Target Audience
  9. 9. Choosing Social Media Channels Twitter If our business is fast-paced and ever-changing Facebook Facebook is the largest social platform in the world Pinterest A highly underrated platform, Pinterest is a visual- based social network Instagram Like Pinterest, Instagram is a graphics-heavy social network YouTube Offering video-based content
  10. 10. Which Social Media Channels Allow Advertising? ● Facebook (the most popular) – 2.2 Billion Users ● Facebook Messenger – 1.3 Billion Users ● YouTube (video) – 1.5 Billion ● Instagram (creative images) – 813 Million ● LinkedIn (great for B2B) – 260 Million ● Snapchat (young audience) – 255 Million ● Twitter (in-the-moment advertising) – 330 Million ● Pinterest (smaller audience) – 200 Million ● Yelp (expensive) – 100 Million
  11. 11. The Effect of Creativity on ROI & Cost ● More time, energy, and money invested to add creativity to advertising ● Creativity Pays off in the Long Run as well as the Short Run ● Good quality content has the potential of reaching more customers at a lower cost per interaction ● Social media channels are likely to pick up on advertisers who produce quality content
  12. 12. Video Content vs Static Image Content According to a test done by www.socialmediatoday.com on Facebook Ad Format Comparison:
  13. 13. Additional Costs for Advertising Expenditure SOURCE: www.devumi.com Below is a rough estimate of how much to budget for each of the various activities involved in Social Media Advertising: Strategy: 10% Project Management: 5% Design, Graphics, Videography, Visuals 30% Ad Spend 40% Copywriting 10% Tracking Results 5%
  14. 14. Things to keep in mind for a more informed Budgeting process ● Timing & Duration ● Risk tolerance ● Competitive pressure ● Data & Analysis requirements ● Target audience behaviors ● Analytics tools & methodology ● Visitor acquisition costs ● staffing and training ● Testing & optimization
  15. 15. “We don’t have a choice on whether we do social media, the question is how well we do it.” – Erik Qualman (@equalman)
  16. 16. Social Media Marketing Platform For You

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