Social Media Marketing Budgets – What’s Worth Your Dollar

By on November 21, 2017

As a business owner, you probably realize that you need to have social media presence in 2017. If you don’t, you probably shouldn’t bother having a business. However, though social media is very often free, there are a lot of recommended promotions and boosts that platforms will try to sell you on that supposedly help your business. Some of these work, and some of them are complete scams.

 However, social media advertising is without a doubt necessary and should be an early consideration in your marketing strategy in this day and age. Ultimately, a good question to ask is what boosts are worth it? And how much should you be spending on social media marketing?

 Worthwhile Spending

There are some businesses that pay for their followers on social media. Particularly, they will pay to promote their page all over the world, which becomes a problem because it brings random people (who sometimes do not exist, we may add), to follow said business. But these new followers are not interested in the brand or products usually, so while a large amount of followers is built in a short amount of time, they aren’t real followers.

 What may be worthwhile to look into however are sponsored posts – that is, paying for exposure of a landing page, article, or product. Specifically this seems to work on Facebook. If you can get people interested in what you’re doing, to see and engage with what you’re doing, that is the most ideal form of social media advertising. On a Facebook sponsored post, you can invite people to like your page once they’ve liked one of your posts as well. This is a more organic way to gain followers than promoting your page itself.

 Essentially, you want to be seen. This isn’t just a numbers game – it’s about gaining loyalty. You can cater your posts to people using selective targeting tools as well.

 Insider Info

Some of what you’re about to read will be common knowledge, and some of it will not be. Sometimes Facebook will give you free boosts if you have a post doing well and you haven’t sponsored a post in a while. They will usually email you about this and you’ll have to take advantage of it but it’s good to be aware of it.

 Additionally, do not underestimate the usefulness of hashtags. It’s easy to write them off as trendy and annoying but they are useful for people to find your posts. Another tip: the more people like your posts, the more other people will see your posts. If you get them reacting with your posts, it will boost them on all social media platforms as well. In your early days, if you need to, get peers to like your posts so they’re visible to others.

 So Realistically, How Much Should I Be Spending?

The question of “how much money should I spend” on this stuff is hard because the answer is totally subjective. Think about how many people you may realistically be able to get into your brand. Only spend enough money to put yourself on the map in places that people who can become loyal to your brand will find.

 A $60 Facebook post for 30-60 days in your country, for instance, may lead more people to find your brand and would be worth it. A $100 boosted post around the world probably won’t be worth it.

 Ultimately though, you should not spend more than you earn. So if you think you’ll make less than $60 on your product (hopefully not!) then don’t spend that much. This is to help you profit, remember. Keep track in your balance sheet and include it as a marketing expense, even if it’s small.

 What’s your experience with paying for social media marketing? How have you spent too much, and how have you found ways around paying for such promotions? Let us know in the comments below!

About Avery Phillips

Avery Phillips is a unicorn of a human being who loves all things related to people and their entrepreneurial spirits. Comment down below or connect with her on Twitter.
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