How much should you be spending on social media marketing? How much are you spending right now? If you’re not moving those numbers up, you’re not in the game. What?!?
According to a new report from the research firm eMarketer, companies are spending a larger percentage of their budget on this than ever before. In many cases, they are investing 9, 10, or even 11 percent of their annual revenue on maintaining a social presence online.
In fact, on average, businesses will spend $4,000 per month, often more, as much as $350 per day, to maintain social platforms, post and manage content, and continue the online conversation with potential customers.
Serious Numbers Lead to Serious Results
Why so much? It does look like a big number, and it is. For many companies, it is completely out of reach, but the truth of the matter is that social marketing can lead to tremendous growth, the investment pays off for those who spend the money wisely.
In one A/B testing campaign, a Cardiff-based IKEA store found a geo-targeted Facebook ad drove 31% more customers to their store on a regular basis. Imagine having 31% more traffic in your store thanks to your social media campaign.
What You Can Do Now
How can you make sure you’re actually getting that traffic you want? It starts with a closer look at the numbers. When it comes to establishing your own budget, knowing what you are paying for can help you make the best decision. There are several things that a media marketing manager can do for you, which means your money is being spent on far more than promoted posts, and PPC advertising.
Find and Vet Followers If you are going to do this on your own, expect to invest a great deal of time, instead of money. It’s not about getting followers; it is about recruiting worthwhile followers – those who can turn into customers. The experts will have honed their skills and techniques for finding and attracting those individuals. For the DIY media marketer, it is going to mean finding industry leaders, looking through their list of followers, and determining which are going to be the best connections for you. Start following them, and interacting with their posts. Slowly, but surely, this will lead to a notable, and meaningful increase in your number of followers.
Set Up Marketing Automation There are many tools available today. Some of these are very commonplace and made to be universal, which is to say that they can be beneficial for any industry. Others are highly customizable, so they can be tailored to suit your exact needs. The professional marketers will know which are going to be the most effective, how-, and when to use them. Automation is valuable. If you are going it on your own, you should set aside time weekly, if not daily, to set up automated posts, which will appear on your social feeds periodically throughout the day. Each platform is different, but Twitter, for instance, is maximized when you can engage your audience six or seven times per day, with worthwhile posts.
Creating a Visual Experience Imagine a person intrigued by your most recent post, clicking through to your profile page. When does he or she see? Creating a visual experience for your audience is important. That means having a professional profile picture and header image, but it also means ensuring that you have shared a body of interesting, visual content. When a person begins to scour your profile page, he or she will often seek out images – photos, videos – previously posted, to get an idea of what your account is all about.
Interaction It’s not just about the initial post, social media is meant to be social. When you can’t be there to answer questions, comment on interesting posts, or to address the concerns of customers, a media marketer team can be.
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