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Why Your Small Business Should Budget for Social Media

BY The Sire Team — February 15, 2017

 

woman-hand-desk-office.jpgWhen was the last time you made an update on your Facebook business page, added an image to Instagram, or sent out a tweet on Twitter? Hopefully it hasn’t been too long, because if you’re not making frequent updates to your social media, then your business could be missing out on countless opportunities to snag leads, make sales, and foster meaningful relationships with your customers.

Just Having a Website isn’t Good Enough

The reality is that simply having a website just isn’t enough anymore. This isn’t to say that having a website isn’t important - it is! Combined with SEO (Search Engine Optimization) and a strong PPC campaign, your website can be a strategic inbound marketing tool that pulls in leads and drives them through the sales process. In addition to other inbound methods, social media and blogging should also be a part of your marketing mix.

Social media may not seem like a big deal, but it has completely altered the way that business is conducted. People are going to social media first to seek personal and authentic connections. Social media sites are now search engines. If you want to be found online, you absolutely must have a social media presence.

Check Out These Numbers

• At 1.86 billion, Facebook has more active users than WhatsApp, Twitter, and Instagram combined.

• There are 1.74 billion mobile active users and 1.23 billion people that log into Facebook everyday.

• Globally, users spend 50 minutes per day on average on Facebook.

• 42% of marketer’s report that Facebook is critical or important to their business.

Facebook marketing has changed the way that business is conducted, and it’s widely used by local businesses to extend their markets.

 

The Cost of Social Media

pexels-photo-147408 (1).jpegNow that you know that social media is essential to your marketing efforts you might be wondering – how much is this going to cost? The good news is that the platforms are free when you are trying to reach customers organically. Organic posts are valuable because you can provide links to outbound content or to your blog to drive traffic to your website and easily become a source of useful information. The bad news is that over the years, Facebook has presented challenges in reaching your customers organically. Because of this, you’ll need to have a budget.

 

Advertising on Social Media

The average person spends 28% (or 1.72 hours per day) of their time on social networks. If you’re not adverting on Facebook, then you should be. Facebook advertising is the best way to increase exposure and traffic for your business, increase leads and sales, and build loyal customers.

For years, Facebook has been reducing the visibility of business pages, making your information and posts unable to be seen organically. On average, less than 0.5 percent of your fans will actually see the updates that you make. With this organic reach decreasing every year, advertising on Facebook is more important than ever. Luckily, Facebook advertising is extremely cost-effective. For small businesses, $50.00 could reach as much as 5,000-10,000 people and target your audience based on demographics and location.

There are endless benefits to adverting your business on Facebook. Below are three options for advertising:

Ads: Ideal for general promotions. Must link to a website splash page, contact form, or e-store.

Boosted Posts: Good for general ads that will not have a link or for high-performing posts to increase engagement.

Offers: Best for coupons and offers that can be redeemed. These should link to a contact form or a landing page on your website.

The Benefits Outweigh the Cost

The benefits of social media far outweigh the cost. With a strategic social media marketing plan and a minimum budget, your business can take advantage of reaching more customers, obtaining more leads, and boosting sales.

Are you interested in learning more? Contact the team at Sire today to discuss your social media strategy.  

 With so many different social networks to manage, don't you wish there was an easier way to plan which content to share on each account - and when?

Download a customizable Social Media Calendar that will allow you to organize your social media activities far in advance so you can:

  • Make it easier to coordinate campaigns
  • Grow your reach
  • Scale your social media marketing

Download your free Social Media Content Calendar here. 

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