September 15, 2016

How Much Should I Spend on Social Media Marketing?

Often times in today’s day and age, many business owners are left asking themselves one question: How much should I be spending on social media marketing? And many questions arise along with that, like does the neighborhood restaurant really need a Twitter and a Facebook? Can it really drive traffic? The answer is yes. According to Buffer, the industry average for a social media budget settles between $200 and $350 per day and The Content Factory found that the industry average social media budget per month fell between $4,000 – $7,000 per month.

Can social media really drive qualified traffic to your website?

A good social media marketing campaign must incorporate more than the simple thought, “we’re going to tweet X times a day.” That simply won’t be effective, social media marketing revolves around adapting. Marketing Tech Blog reports that social media isn’t often found to drive direct purchases unless it’s by way of a discount or a promotion. However, social media is more often used to discover by word of mouth, a source for discussion for research and a source to connect – via people – to a company. Because it’s bi-directional, it’s quite unique from other marketing channels.

With an effective social media marketing strategy, one that provides value to the audience, the community will grow to invest their faith and possibly dollars into your business. Even if you get one person to interact with your media, it can vastly increase your audience.

1. Develop a Familiarity with the Community

When a customer calls a phone line for help, only your employee and that customer can communicate. However, when a customer reaches out on social media, your entire audiences get to see how you address their needs. Yes, there’s more pressure that way, but it’s extremely effective if done well.

2. Increase the Customer Service Feeling

Social media marketing creates a chance for your brand to hit an extremely large audience. A well thought out tweet can go viral in a matter of minutes, reaching users across the country or the world. And, if it reaches the right audience, it can spread and be shared by highly-engaged influencers.

3. Put Your Brand on The Big Stage

Hammering out content with no strategy can often leave a company hanging high and dry. Just because you write it doesn’t necessarily means people will interact with it. You must strategically publish for your audience, addressing topics that are newsworthy and engaging.

4. Increase Digital Exposure

According to Marketing Tech Blog, social media can affect your SEO with link potential, personalization, search query volume and brand signals.

5. Boost SEO

A Duke University study predicts that typical social media marketing budgets will more than double over the next five years, up to 18%. Keep these simple, yet effective tips and facts in mind the next time you think about your social media marketing strategy. If the study’s prediction is correct, those who invest now (and evolve over time) will be ahead of the curve.

Social media marketing will not necessarily deliver customers to your doorstep, but it has become a prominent and essential tool for branding, communication, and reputation management/client relations. How much a business spends on social is an individual and personal decision, but it is important regard it as an investment in the future of the business.

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