What Should You Be Spending On Social Media Marketing?
Small businesses don't have millions to spend on marketing let alone setting aside a big chunk of that to dedicate just to Social Media. The Return On Investment (ROI) needs to be significant in order for a small business to continue the spending. Depending on YOUR business, the going rate is anywhere between 10-16% of your total yearly marketing budget. Just on social media.
For instance, if you are a Business to Business Service industry, you'll need to spend around 10%. If you are in the Business to Consumer Product industry, then you will need to take that up to a whopping 16.9%. Now that you know what the cost will be, what is it that you need to do?!!? Some of the tasks involved in SUCCESSFUL Social Media Marketing include the following:
#1 - Managing pages (generally at least five to ten Tweets and three to five Facebook and/or Instagram posts a week)
#2 - Writing and editing multiple blog posts a week (at least one weekly blog post)
#3 - Gaining relevant followers. (This is key, as if you don't have followers, then no one is hearing what you're creating! Creating campaigns that target your audience is key)
#4 - Keyword monitoring and hashtag alerts.
#5 - Analytics and making sure all of these actions are connected to your website. (If you don't have a website, GET one NOW! If your website is not updated, UPDATE it NOW)