Investing in social media: How much should you spend?

4 items to consider when budgeting for social media

Social media investing is harder than it looks.

In the early years of social media, part of its allure from a marketing perspective was that it was cost-efficient – and for many, free. Today, as social media infiltrates more of our daily communications and social ad platforms become more sophisticated and drive better results, it's necessary to put some money into your social media strategy. How much your company spends depends on many factors.

To help figure out how much to invest, here are some considerations.

1. Staffing

Nearly every company (if not all) should have dedicated staffing resources for social media. How many depends on the industry, size of business and, of course, budget. Maybe you can only allocate salary for 50 percent of a marketing coordinator’s role for social media. Maybe you have the resources to dedicate a team of digital professionals, such as content writers and videographers. Wherever you stand, just ensure you have dedicated personnel to manage your social media. To determine what personnel you need, start with a plan to outline your goals of using social media and consider where personnel fit in. Do you need social media personnel with a customer service background? B2B expertise? All these considerations could change how many people you hire and at what level you pay them.

2. Partners

If you don’t have the capacity to hire and want to ensure you have expert social media partners in your wheelhouse, turn to agency partners. Here at Axia Public Relations, our team can dive right in to help clients tackle whatever their social media needs are. The benefit of working with an agency partner is having access to people who live and breathe social media, who can guide you to use the right platform, say the right thing and target the right audience. Whether it’s a one-off social media campaign or an integrated marketing and communications strategy, finding the right agency partner can greatly enhance your efforts.

3. Advertising

It’s becoming increasingly more difficult to generate traction organically on social media, particularly on Facebook. As a result, many companies are running ads on social media. Make room in your advertising budget for social media ads. They remain largely inexpensive, while offering advanced targeting capabilities, such as retargeting.

4. Resources and tools

Think about what tools you need to get your social media in tip-top shape. You may find that you want to purchase hardware like cameras and tripods for creating content and you may want to invest in online tools like HubSpot to enhance your digital efforts.

Axia offers a complimentary e-book that includes all the basics you need to know to run a successful social media campaign. Download it today and contact Axia for help in managing your social media profiles and creating content that will boost your visibility online.

Clients love Julie’s expertise in marketing and communications. She specializes in technology, digital marketing and communications. Julie has worked with Axia Public Relations since November 2015.