Do you already have a firm marketing budget in place? If so how much of that should you be putting towards social media marketing? We explore the budgets that small to medium businesses should be investing and what response you are likely to get from it.
According to Duke University’s Fuqua School of Business, marketers are allocating close to 10% of their budgets to social media marketing. This means if you have a budget of £10,000 per year for all your marketing then at least £1000 of that should go to social media, but this is not a lot when you split it up over monthly amounts. To get someone to work on your social media profiles you will probably have to look at putting at least £150- £200 a month towards it to be able to get some results. Too little budget will simply be lost and may give you very little rewards. If you are going to be doing the social media marketing yourself then you may be able to allocate this budget to just use on paid for social media ads rather than accounting for your time. Some experts suggest that it should be more like 25% of your total budget is invested in social media marketing especially in business to consumer industries.
Social media networks have evolved, from being platforms where you meet new friends – to a business hub – a way to promote brand awareness, share blog posts, encourage user content, and increase income.
is being used more and more by businesses who are wanting to increase their
presents online and also to get referring traffic to their website. One of the
many advantages of social media is that it is free but if you want to go the
extra mile then you may consider doing some paid for advertising such as
thing with the paid for advertising is that you can tailor your ads to create a
specific group of people to show it to. This allows you to keep control of your
budget and ensure your ad is only showing to people it may be relevant to. If
for example you had a product that was most relevant to people between the ages
of 18-35 then you could create them as your target group. You can also narrow
it down to only show to certain geographical locations.
social media to build up traffic to your site, you need to give people a reason
to click on a link that is directed through to a page on your main website.
This may be a competition where people have to complete their details on your
site or you can give someone a few lines of an article and allow them to read
the rest of it on your site.
Facebook ads works wonders for many businesses. It is a great way or promoting events, sales or even just your page to thousands of people and with targeting available you can be assured that your ads are reaching the right people. The majority of businesses that use Facebook ads use the core audience setting. This allows you to select people to show your ad to that are within a certain geographical location, interests, behaviours and demographics such as age and relationship status. This ensures you get the most for your money and that your ad is not showing to people that it may not be relevant to.
With demographics you can chose to show your ad to people within a certain age bracket, relationship status, gender, job title and education. The behaviours side of the targeting allows you to aim your ad at people based on their previous purchase history, device usage and other activities they have completed through Facebook.
You will need to put aside a budget to dedicate to the Facebook ads and then allocate someone to manage them for you – this may be either someone in house or a third party company.
With the recent cases of misuse of data coming to light many people are getting a little concerned as to how certain companies are getting hold of and using their data. The data protection laws state that a business must have prior and continued permission for their details to be used by a company or passed on to another company to contact them. Unfortunately some companies seem to have taken this quite lightly and some social media sites seem to be using our data in ways we are not aware of.
It is very important to try and protect your own data as if it gets in to the wrong hands then you may find yourself becoming victim to fraud.
When using any 3rd party app through social media sites or when redirected to another website it is imperative that you check exactly what and with who you are signing up to. Historically companies used to pre select boxes or hide them behind read more tags, showing that you agree to be contacted by other companies, this is no longer allowed and businesses must make it clear what data they will use and how you can change your preferences.
Which a huge percentage of Christmas shopping being done online, using social media as part of your marketing strategy all year around but especially approaching Christmas is a must.
Christmas marketing campaigns by the major retail brands have become more elaborate by the year, with social media now playing an integral part. Year upon year these companies compete for the best Christmas ad and often refer to social media to get their viewers exciting and discussing it. Social media can offer a free way to advertise your business and if you have products that are ideal for the festive season or that you want to put on sale, then taking advantage of Black Friday and Cyber Monday will often see an increase in your profits.
Use social media to get people taking about your business and make sure that any sales you have or Christmas competitions are promoted on all of the social media platforms possible.
If you are a small business owner you may feel that you cannot compete around Christmas time, but social media will allow you to get noticed along with some of the big players if you create the right campaign.