It's the big question for small business marketing managers everywhere. how do I achieve big goals on an itty-bitty budget? There's good news! It IS possible to build your social media on a small budget, and we're going to show you how.
Important 2017 Social Media Predictions
- In 2016, the average firm was expected to allocate 30% of their marketing budget to online. This rate is expected to grow to 35% by 2019. [source]
- 53% of senior marketers are spending part of their budget on social media community growth and engagement. [source]
- Facebook is expected to remain king, with 90% of social media users utilizing the platform. Instagram is expected to grow, from 32% to 47% by 2020. [source]
- 62% of senior marketers believe that social media is a fast, inexpensive way to deliver messages directly to their customers. [source]
What Should My Social Media Budget Be?
An analysis by the Content Factory reveals that the average business spends between $4,000 and $7,000 a month on social marketing — that’s $200 to $350 a day.
Chances are, your small business or organization only has $100 - $200 per month to spend on social media. Don't worry, there are things you can do to maximize that budget!
Creating a Social Media Strategy
- Choose a social media network that is relevant to your industry or, if you have a pre-existing account, focus on the one with the most fans/followers.
- Create a content schedule to map out your content ahead of time to match your goals. You should be posting at least 1-3 times per day to be successful. Grab this Free Content Calendar to start planning your social media strategy!
- Grow your audience organically by providing links to content that people will love. Target blogs by influencers in your industry. Post interesting industry related articles and links to useful information.
- Make sure all of your posts include an image! Use Pexels for free stock images and Canva for designing your own posts. Not saavy with design? Sire Advertising is always here to help!
- Schedule your posts with free content scheduling tools like Buffer or Hootsuite.
If you have money left in your budget, spend whatever you can towards a paid ad, offer, or boost a popular post. Paid advertising on social media usually starts at a minimum of $10 - $30, so it doesn't hurt to set a minimum amount aside every month to cover advertising costs.
Maintain Your Social Media Presence
- Make sure that your social media efforts aren't wasted! Respond to comments, messages, and questions from your followers within 24-48 hours.
- Follow and interact to content posted by other businesses and influencers in your industry.
Think you're ready to be a social media superhero? Download a Free Content Calendar right here!
Interested in help from the experts? Call the Sire team today at 570.743.3900.