The 3 Keys To Maximizing Your Social Media Marketing Budget
from Adam | 19th October 2020
You can’t go wrong with a social media campaign. With the advent of e-commerce, people are increasingly turning to platforms like Facebook and Instagram to create opportunities for your business to target the right audience. With nearly 54% of consumers using social media to research products and services, you want to focus on getting your brand center stage through your social posts, ads, and outreach initiatives.
Maintaining an effective campaign is more difficult today than ever. Given the high cost of running sponsored posts and creating clickable content, it will be difficult for your business to get noticed with minimal resources. Fortunately, no budget is too small for a social media marketing campaign. It’s all about using the right techniques and strategies. With that in mind, here are the three keys to maximizing your social media spend and getting more business.
Review your campaign
When you’re getting less referral traffic from Facebook, Twitter, and LinkedIn, you may want to evaluate your campaign and see what’s wrong with it. If you spend the bulk of your marketing budget on social media, you’ll need to make changes to the way you engage your social audience.
To do this, you’ll need to review your analytics reports and look for any sudden drops in referral traffic that are due to certain types of content. It also helps determine if a particular platform is a good fit for your industry. If your web design company isn’t generating leads from LinkedIn, you may want to redistribute your resources to platforms that produce better results, like Facebook or Instagram.
Track your expenses
Knowing if your campaign is performing well is only part of the equation. You also need to keep track of your expenses. This is an essential part of measuring the ROI of your campaign. If the amount you’re spending on getting a new lead is greater than the value of the sale, you need to lower your lead acquisition costs by offering better deals, retargeting, and upselling value-added services. You can also get more detailed insights with the help of a virtual business accounting service. That way, you can get details about your ad spend as well as overhead costs and make better decisions.
Invest in engaging content
Ultimately, what counts is not what you do with your budget, but the content of your messages. You want to create a compelling social media presence that will encourage your audience to convert. Once you have a suggested budget for your campaign, you need to brainstorm ideas that will help your prospects see how valuable your business is to their needs. Take the time to research the market and look for the trends that matter most.
Don’t let your social media campaign lose steam. More importantly, don’t let your budget get out of hand without getting the best value from it. Remember these three keys and make every penny count!