How to Make the Most Out of Your Money on Social Media
Answering this question depends on two basic factors; whether you are running a business to customers (B2C) or business to business (B2B)
operation. When doing B2C, it is generally accepted that approximately 2 -5% of revenue should be spent and for B2B between 5 and 8% should
be spent. However, it is not unusual for businesses to spend as much as 10% or more for social
media marketing.
By all indications it looks like companies will be spending more as they get ready for 2020.
However, there is a caveat to all this. In the race to get as much attention as possible and put your product in front of customers with the
help of social media marketing, it's not always about how much you spend, but how you spend your money. It is possible for you to gain
exposure without having to break the bank. The following are some ways you can stretch your money without losing out on business.
Find Your Niche
This may seem obvious, but it is important to be clear on who your target audience is. It is true that social media is playing a big part in
peoples buying decisions. However, the idea is to build brand awareness, get them to buy and like the product, which in turn raises the
possibility of them sharing their experience with others. In other words, social media is about building trust also, not just advertising.
You want them to come back for more. Therefore, before you spend a penny on social media marketing find out who your audience is.
Channel Your Energy
Remember, one of the tools many social media sites use is channels. There is a channel for practically everything nowadays and your job is
to find the one that suits your business. Each type of channel will have its own culture and once you figure out the rules of that culture,
you can bring your customers to your channel. There is no such thing as one universal channel, there are only the right channels for
specific businesses. Some social media platforms have transformed from simple pay-per-click platforms to a databank of info on customer's
likes, dislikes, demographics, etc.
User Friendliness and Value
The fact is, getting customers to move away from another product is not easy. In order to get them to go with you, you have to offer them
something valuable. Value propositions generally have five things going for them, they are:
Appealing visual content
Clear and concise wording
Relevant material
Offer a deal such as discounts or free trial periods
A call to action
Keep an Eye on Things
Once a social media marketing strategy is put in place, it is time to see what kind of ROI is happening. Keep an eye on specific platforms,
channels, methods, and weed out the ones that don’t work. Research has shown that people who document marketing strategies closely,
consistently meet their goals successfully. If you’re ready to jumpstart your social media marketing strategy give us a call today!
Specialty:
Digital Marketing Strategies Education:
MA Communications & Technology, BComm [U Alberta] Author: The
Online Marketing Handbook for Busy Entrepreneurs (coming soon)
Lynne is known for her strategic approach to marketing communications, technologies, and lead generation. She has a passion for education,
keeping up with current marketing trends and practices, and helping clients keep ahead of their competition.
In today's fast-paced, digitally driven world, businesses are increasingly turning to digital marketing as a powerful tool to connect
with their target audience, build brand awareness, and drive business growth. But what exactly is digital marketing?
Read More…
So, you're thinking about selling your business? That's a big move, and we're sure you've got a lot on your plate right now. Before you dive
into the nitty-gritty of valuations and negotiations, let's talk about something that's often overlooked but incredibly important: your
website and marketing assets.
Read More…
If you're looking to optimize your online presence, you've likely come across the importance of your Google Business Profile
(formerly known as Google My Business and even earlier Google+/Google Places).
Read More…
Whether you're working with a local small business digital marketing agency or managing things in-house, you should know that two key
elements can make or break your online success: User Experience (UX) and Conversion Rate Optimization (CRO).
Read More…
You’re a busy business owner. You've got your website up, your social media buzzing, and your products or services are top-notch. But how do
you know if your digital marketing efforts are actually paying off? Enter the world of digital marketing analytics for small businesses
Read More…
The use of AI in digital marketing is definitely on the rise, and it’s a trend that you’ll need to get on to keep up with your competitors.
Below is a list of AI tools that we have researched and tested, and how they can fit into your digital marketing strategy.
Read More…
Having a well-defined and tailored digital marketing strategy is essential for the success of any small business. With the right approach,
you can effectively reach your target audience, drive traffic to your website, and ultimately increase your conversions and sales.
Read More…
These days small businesses rely heavily on effective marketing strategies to thrive in a competitive marketplace. To make informed
decisions, it's crucial for these businesses to understand what is working and what's not when it comes to their marketing efforts.
Read More…
Are you looking to enhance the online presence of your small business and gain recognition in your community? Look no further! In this
in-depth guide, our local search engine optimization company will break down the process of local SEO, focusing on critical components such
as Google My Business listings, local keywords, and review management.
Read More…