5 tips for setting your social media budget in 2016

5 tips for setting your social media budget in 2016

5 tips for setting your social media budget in 2016

We’ve been advocates of social media spending for years now and although we’ve previously given tips for “free” marketing on social media, a little bit of a budget never hurt.

Social media spending is always going to be cheaper and more efficient than traditional marketing.

Traditional marketing requires tens if not hundreds of thousands of Rands where social media marketing requires well, a tenth of that.

With this in mind and with the current economic climate not letting up in terms of good news, here are 5 tips to help you enhance and overcome the marketing deficit:

1. Always compare benefits with spend – Anything you are spending money on should lead to either greater efficiencies or to producing results. You will know what your objectives for this year are and how you’d like to achieve them, so consider apples for apples. If it isn’t producing results or at least moving you closer to your desired social objective don’t spend your hard earned money on it.

2. Diversify spend – it’s easy to get caught up in the hype of Twitter and Facebook. It does make sense because of the amount of users on these platforms but consider other platforms that may showcase your products or services a bit better. Pintrest for instance is superb for visual content and it cuts out the text clutter from time to time.

3. Invest time into shareable content – This means content that is visually appealing and compelling as well as text that is interesting and gripping. Every single product and service on the planet has an interesting need or fact. If you are unsure of how best to get that across to your followers consider getting someone that can help you. It’s well worth it.

4. Account for increases in costs – it’s a real factor considering our currency versus the dollar at the moment. If you are considering paid advertisements, keep this in mind. A social media ad campaign will always be more impactful than a single ad every now and then. Naturally, the exchange rate has knock on effects so try keep this in mind too if you are considering service providers.

5. Leave space for new opportunities – this could be anything from software to improved campaigns. Leave some extra in the tank so you have a bit of flexibility. The year is young and there will undoubtedly be changes and new ways of doing things but also new technology that will streamline and improve how we engage and meet demands for social marketing.

We’d love to hear from you, hear your thoughts on social media budgets and of course if we can provide any assistance or advice please, contact us here or on any of our various social media platforms.