Social media marketing is a must for every business today. But the question is, are you spending your social media marketing dollars wisely? Technology continues to evolve–this means that new trends and marketing tools are coming about, giving you far too options. Every campaign usually begins with a test. Once you figure out what works best for you, you can scale your program as large or as small as you need it to be.
You want to ensure that you’re spending your company’s or your client’s money wisely by investing in the right advertising channels, monitoring the right metrics and utilizing the most efficient outlets. This means you have to make sure your client acquisition costs and value forecasts are accurate. In many businesses, social media marketing can take up as much as 20 percent of your total budget. Here are a few tips to ensure that your social media marketing plan does not ruin your budget.
How Social Media Marketing Can Ruin Your Budget
1. You’re spending money on everyone
For a social media marketing campaign to work, you need to create targeted ads. All of your products and services should have a specific and ideal customer. Identifying your target audience should be the first step. If you don’t invest the time it takes to identify every facet of your ideal customer; you will be wasting time and money. You could ruin your social media marketing budget by purchasing ads that are reaching the wrong market and produce zero results based on your output.
2. You produce random content
The core point of content marketing is to entice the right audience to your site. When you create content related to your industry, you help drive relevant traffic to your website. If you have more and better content, you can rank higher for keywords related to that topic. Content helps you build up your brand’s identity. For every piece of useful content you produce, you build trust in your potential customer’s mind that your company knows what it’s talking about. You give your potential customers something they want. In return, customers share their contact details with you, allowing you high conversions. Random content will not have your potential customers coming back.
3. You’re not learning from experts
Social media marketing can be both complex and historically comprehensive. You don’t want to tackle this part of your marketing all by yourself. It makes sense to hire experts. A great way to receive the content you need, without putting additional strains on your employees, is by outsourcing and insourcing your marketing tasks.
If you hire a company that specializes in social media marketing, they will already understand the trends and can promote your brand in a way that will be recognizable, while increasing loyalty and trust. Not to mention, having another set of eyes on your campaign can help bring about more effective tactics necessary for driving traffic to your site. Without the help of experts, you could easily be reinventing the wheel.
4. Buy ads at the right time and at the right place
Before you buy ads on social media sites such as Facebook and Twitter, you need to understand how they work. The only way not to ruin your budget is if you understand how and where your ads appear and which audience sees it. Facebook has a detailed program when it comes to how and where your ads are displayed. On Twitter, most ads are posted for about eight minutes before a user moves on. You want to ensure you target your ideal customer by day, time and geographical location. It wouldn’t make sense to place ads at 3 a.m., when your target customers are probably fast asleep. This can take time to get it right, requiring testing and retesting. Protecting your budget means staying on top of where you spend your money.
5. You over-invest in one social media platforms
You don’t want to ruin your budget by overusing only one social media platform. When you are proactive on several of the major social media platforms, you can target their varying audiences. If you stick to only one platform, you limit your reach and your budget’s potential. Some platforms do require more time, but social media marketing campaigns should not depend on just one platform.
6. You don’t have a social media policy
You don’t want to waste time and money by not having an effective social media policy. This means having a guideline set for the appropriate style, voice and content for your company. Having a policy in place gives your employees and marketers a road map to follow. Without it, your budget may be spent on reputation management after an unaware employee posts something that strays far off the mark from your company’s brand image.
Social media marketing is a must for many companies today. But, it is more than just placing irrelevant ads and content on random sites and platforms. With the right planning, help from experts and policy set up—you can ensure your budget isn’t ruined, and your money is well spent.
What are you doing differently?
About guest author: Katrina Manning has over seven years’ experience penning content relevant to client sites and trending topics, that are SEO-optimized. Her main objective is to provide useful content that readers enjoy. Now, she is working as content director for link building company Buildnichelinks–based out of Houston.
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