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CEO and Founder, The Go! Agency

Budgeting for Social Media

Budgeting for Social Media

We’ve finally reached a point where big companies are recognizing social media and as such, a big question is raised. Just how much of a marketing budget should go towards social media prospects? For the casual social media user, cost is never usually an issue. However, businesses need to take cost into consideration, whether it pertains to social media managers, Facebook advertising, or boosted posts. Turns out social media success can cost a bit. According to The Next Web, a study from Duke University found that businesses spend an average of 9.4% of their marketing budget on social media and it’s predicted to only rise from there. The article projects that, at this time, 10% is the best amount to spend on social media campaigns. It might not seem like much, but it can be just enough to utilize the premium tools the popular platforms offer.

You might be wondering to yourself what exactly is there to pay for? After all, Facebook proudly proclaims that it’s free, as is Twitter, LinkedIn and even Google +. However, as we see with many online services, while the base is free, businesses can really shine when investing into things like Facebook advertising and boosted posts. We’ve seen these kind of tools make or break a social media campaign. These features allow you to maximize your “reachability”, which means you can be on more people’s screens and in their line of sight.  You’ll have an advantage to those who don’t want to fork out the funding. It can require an investment, however it can be worth every penny if done correctly. You’ll find that when you really enter the professional side of social media, it might not be free. However, your money will not be wasted. Instead, it’ll be used toward this progressive marketing method.

For more info, check out The Next Web’s article here: http://ow.ly/9UoJ300pB6h

Does your business have room in the budget for social media? Should it be more or less? Share your thoughts!

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