3 Easy Steps To Get Budget Money for Social Media
Getting money to fund social media efforts at a business isn’t always easy. Where does the money come from? Is there a secret pot of gold that a social media leprechaun guards? The answer to that is NO. But, there are ways to get social media as a line item on the annual budget.
Steps to Get Social Media Budget Money
Here is a three step plan to get social media money considered when budget planning is happening. We want money so we have to talk in terms of money to the folks that have the power to grant it to the department. Here are the steps…
#1 – First, look at the overall marketing budget for the entire organization. Whether that is a concrete, well documented yearly budget or if it’s a stack of invoices marked as “Marketing”, dig in and take a look. See how money is being spent on marketing and advertising.
#2 – Second, scour through the budget and determine what was the least performing marketing effort. In other words, discover what got you the least return for the money invested (ROI).
#3 – Last, take the money allocated to the least performing marketing effort from last year and apply those funds (or a significant portion of them) to a social media line item in the upcoming marketing budget. Use that money to develop and implement social media marketing efforts that can truly show a positive ROI and make you look like a marketing rockstar.
How to Use Those New Social Media Funds
Using the technique above to get the money is a relatively easy task. So what do you do with the newly found money so you can ensure having it the next time around? Here’s what you do…
- Start small with the online marketing efforts. Determine where your audience is and develop that single social media channel.
- If you are familiar with marketing and social media fundamentals, then do things on your own at first. This will maximize what you can do with funds because an advertising, PR, or marketing agency doesn’t have to be paid.
- Be sure to measure all online marketing efforts. Use tools like Google Analytics, Google Webmaster Tools, Facebook Page Insights, Twitter Analytics, etc. because they are free tools and can help so much to understand what is happening with social media efforts.
- Always define what success “is” in terms of social media for the business. Think about what goal(s) needs to be accomplished and work from there. Maybe it’s something simple like more Likes & more Shares OR maybe something deeper like new sales leads directly attributable to social media posting.
When it’s all said and done, look at the data that got collected while doing social media for the company. Organize the metric data and then display it via reports to show how beneficial social media was to the company over the past X time period. It is always a good idea to compare current efforts (social media) to past efforts (traditional marketing) to show exactly how things improved and how much money was earned or saved. This will make sure that the social media marketing dollars are there next year.
As always, feel free to contact Harvester Solutions if you have any social media or digital marketing questions. We are here and happy to help.