Developing Your Social Media Budget

Developing Your Social Media Budget

Marketing on social media is now a crucial component of every company’s advertising campaign. You need to be able to plan and organize your social media strategy in a way that doesn’t stretch your overall budget for marketing. Setting up a specific social media budget can help you make sure that you are spending the right amount to see benefits but not break the bank.l

Although your regular social media posts are important, paid advertising is becoming a bigger part of most platforms in order to reach more people. You will need to determine how much money you are able to spend on social media ads and how you should spend it. How much you are able to spend on social media depends on your overall advertising budget and what percentage of that you think will be necessary for certain websites.

Deciding how you spend your social media budget can be determined by first outlining your brand’s goals. If you are hoping to increase brand loyalty, improve customer retention or focus on more sales you will need to develop your social media budget accordingly. You can choose where to allocate a certain amount of funds depending on your goals such as deciding how much to spend on influencer marketing versus paid ads.

As you create a social media budget you will need to develop content that will help you make the most out of the money you spend. Repurposing old content can sometimes help you stretch your social media budget if you don’t have much to spend. You can edit and adjust old content to use for new advertising campaigns to reduce the amount of money you spend on producing media.

Once you have a social media budget in place you can always adjust it depending on the success of your campaigns.

Matt Ramage is founder of Emarketed a web marketing agency located in Los Angeles. He loves coffee, good design, and helping businesses improve their look and getting found on the Internet.

Measuring My Social Media Marketing ROI

Measuring My Social Media Marketing ROI

More businesses are spending a significant portion of their marketing budget on social media. Social media marketing is crucial but at times it can be difficult to tell how successful a particular campaign has been. How can you gauge the performance of a specific social media strategy so that you know it was worth the effort?

To measure social media marketing ROI there are many different kinds of metrics that you can look at. You can measure fans, followers, retweets and shares or even referral traffic from other platforms. In order to measure the ROI for a particular campaign though, you will need to identify the specific goals you have and determine your key performance indicators that will measure those goals.

For example if your goal is increasing engagement then you might focus on measuring likes, comments and shares. If your goal is sales then you would track your conversion rate based on actual purchases. There are tools to help track changes in any of these numbers such as Google analytics which helps you monitor particular actions from visitors including conversion.

It can also be useful to measure your social media efforts in comparison with competitors to see how you are succeeding. You can start to look for ways to stand out against others in your industry so that your social media efforts are more effective in the future. Doing something different or unique compared to other brands can help you get better results with social media marketing.

As long as you know what your goals are for a particular campaign you can narrow down the type of data you need to gather in order to measure your ROI. If you consistently work to improve your ROI you will start to see your social media campaigns experience more success over time.

 

Matt Ramage is founder of Emarketed a web marketing agency located in Los Angeles. He loves coffee, good design, and helping businesses improve their look and getting found on the Internet.

Facebook Timeline for Businesses Arrives

We all knew this coming. So now that it’s here, how do you feel about the new Facebook Timeline for businesses and how it changes the game for social media marketing?

No More Default Landing Tabs – The Biggest Change
Most users where upset with the changes, so how do you think businesses will feel about the new Timeline rolling out to their Pages? Most are upset that there is no longer a main landing tab where businesses can conduct contests and other promotional strategies that were also known as “Like-Gating“.

Alternatives for Promotion
But don’t fret quite just yet. This is still possible! Check out Macy’s Win a Million tab (box?). This is example of how you can run these types of contests to engage with fans. Sure, Facebook makes things more difficult and is trying to get more businesses to spend more money in their ads, but it IS still possible. This is where a website marketing firm can come handy! To keep you in the loop with new information and to help out with creating graphics, applications and whatever else your business needs.

Key Features to Utilize
The new Timeline will force businesses to be more creative – from the cover photo to new content and even displaying company history. For business owners who are worried about their Page looking empty or inactive, the Timeline creates opportunity to populate more information that will be helpful for customers. Make sure to take advantage of this and fill out:

– Company history in the About section and adding Milestones. This can be robust as you want and you can fill out as much detail as you want.
– Monitor and show or hide the “Recent Posts by Others” Section. This part reminds me of a Twitter feed that you’ll have to keep your eye on for negative or spammy comments.
– “Pin” your posts at the top of your Page. (Pinterest, anyone?) Important posts can be highlighted at the top of your page for up to 1 whole week.

Make sure to carefully read Facebook’s new guidelines for Pages – for more on what you can and can’t do. Ahem, NO promotional language in the cover photo. This is just one of many, so make sure you’re playing by Facebook’s rules!
Also, check out the Emarketed Timeline and share yours with us!

Matt Ramage is founder of Emarketed a web marketing agency located in Los Angeles. He loves coffee, good design, and helping businesses improve their look and getting found on the Internet.