Social Media for Businesses

5 Tips for Setting Your Social Media Marketing Budget

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It’s the end of the quarter and you’ve blown your social media marketing budget. Again. You didn’t even get enough hits on your new campaign to even make the money you used worth it.

Don’t worry this happens to a lot of people. There is a sweet spot when it comes to budgeting for everything. You just have to find it and then make the most out of what you have.

To help you find this sweet spot and get a few likes along the way, here are a few key tips to keep in mind when you’re creating your social media budget.

1. Set Goals

From b2b marketing companies to retail, you’ll need to create marketing goals. The more specific you get with this the better. It shouldn’t be something as vague as wanting more likes on your Facebook page.

You can’t budget for that. Instead, it should read more like, “we want 800 additional likes by the end of December”.

That gives you a goal and a deadline to work towards. You can now start budgeting your marketing material to go with this goal.

2. Make Your Ads Stand Out

You need ads that cause your audience to stop their scrolling to interact with them. This means that you should be putting much of your budget into videos, photos, and catchy text ads.

If your ads aren’t interesting enough to get clicks then you’re just chipping away at your budget for no reason.

3. Know Your Target Audience

You don’t want to waste your budget on social media platforms that none of your target audience is using. Instead of advertising on all of them check out your audience demographics.

For example, if your target audience is mainly teenage women then you’re pretty safe to mainly use Instagram for your advertising budget.

4. A/B Tests

Many social media platforms have something called A/B testing. It allows you to test out different headlines, images, and product descriptions.

It’s a good way to see if a marketing campaign is working with your target audience. You don’t waste your budget on one that’s getting no clicks.

5. Don’t Copy Paste

Any company worth their salt advertises on all social media platforms that their target audience is located on. It can be tempting to use the same ads for every single one that you use. This is a bad idea.

Some ads are better suited for some platforms than others. Instagram, for example, is more photo-based whereas Twitter is better for text. You don’t want to waste time and money copying a text ad from Twitter onto your Instagram.

Creating Your Social Media Marketing Budget

It can be hard to create a good social media marketing budget. If you’re not careful you can spend way too much on accident. Follow these tips to connect with your audience and stop wasting money on advertisements that aren’t working.

Figuring out how to use social media for your business can be tough but we can help. Visit our blog for helpful tips and tricks!

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