The 3 Keys for Maximizing Your Social Media Marketing Budget
You can never go wrong with a social media campaign. With the rise of e-commerce, people are increasingly using platforms like Facebook and Instagram in creating opportunities for your business to engage the right audience. With nearly 54% of consumers using social media to research products and services, you will want to focus on getting your brand front and center through your social postings, ads, and outreach initiatives.
Maintaining an effective campaign is more difficult now than ever. Considering the high costs of running sponsored posts and creating content that clicks, it will be hard for your business to get noticed with only minimal resources. Fortunately, no budget is too small for a social media marketing campaign. It’s only a matter of using the right techniques and strategies. On that note, here are the three keys for maximizing your social media spending and getting more business.
Review your campaign
If you are getting less referral traffic from Facebook, Twitter and LinkedIn, then you might want to evaluate your campaign and identify what’s wrong with it. When you are spending the bulk of your marketing budget on social media, you are compelled to make changes to the way you engage your social audience.
For this, you will need to check your analytics reports and look for sudden drops in referral traffic which are attributable to certain types of content. It also helps to determine whether a certain platform works well for your line of business. If your web design company doesn’t generate any leads from LinkedIn, you might want to reallocate your resources to platforms that provide better results like Facebook or Instagram.
Track your spend
Knowing if your campaign is performing well is only one part of the equation. You also need to keep tabs on your spending. This is integral to measuring the ROI of your campaign. If the amount you spend to acquire a new lead is more than the value of the sale, then you will need to reduce your lead acquisition costs by offering better deals, retargeting, and upselling value-added services. You may also get more accurate insights by getting the help of a virtual business accounting service. This allows you to obtain details about your ad spend as well as overhead costs and make better decisions.
Invest in engaging content
At the end of the day, it’s not what you do to your budget that counts, but rather, it’s the content of your messaging. You want to forge a compelling social media presence that entices your audience to convert. Once you have drafted a proposed budget for your campaign, you will need to brainstorm for ideas that allow your prospects to see how valuable your business is to their needs. Take time to research the market and look for the trends that matter the most.
Don’t let your social media campaign lose steam. More importantly, don’t let your budget fizzle out without getting the best value from it. Take these three keys in mind and make every cent count!
