Why You Should be Spending Money on Social Media Marketing
Every week, we speak with marketing and social media managers who struggle to convince their leadership that spending money on social media marketing is not only worthwhile, but vital to the growth and success of their brand. They share their discouragement in not reaching as many people as they should and could be.
The real truth of the matter is that not everyone should be applying paid social. That being said, if your due diligence makes it clear that creating and implementing a budget for social media is the right path for your organization, we have a couple of handy tips on how to get your boss on the same page.
1. Show a Real Life Version of the Benefits
If your leadership thrives on real life examples and data, this could be a great solution for you: Skip your morning latte for the next few days and put that $10 you saved to good use!
Take a look at your recent Facebook posts and determine which one has performed the best. Enter your personal credit card information into Facebook’s ad platform to promote that awesome post. Set up your targeting the best you can; you’re not an expert – yet. It doesn’t have to be perfect to see the kind of results that will create impact and help you convince your boss. Run the ad for the amount of your skipped lattes. (A big sacrifice, we know, but it will be worth it.) After the ad has run its course, take a screenshot of the promoted post [see below] and show your leadership. Make sure to note the “organic” (unpaid) reach and how it compares to the “paid” reach you gained from a simple ad. Note how many more users in your target audience were reached with just a little boost.
2. Get Real About the Cost
This is where we take a straightforward look at cost.
Have a heart to heart with your leadership about the value of your efforts. Take your entire fan base across all your social media platforms (Facebook, Twitter, Instagram, Pinterest, etc.) and multiply that number by the percentage of organic (unpaid) reach you’re likely to have. Let’s be generous and say that’s 10%. This tells you how many people you’re “reaching for free” with each social media post.
Now take it a step further.
How much are you paid hourly and how long does it take you to create the perfect post? You should be able to determine just how “free” that organic reach really is. Each headline, each graphic, each blog post – creating great content requires time and money. We suddenly see that “free” reach isn’t so free after all and, perhaps more importantly, we see that the cost of “paid social media” is less than we thought.
What does it mean to better reach your target audience? Look at it this way: You could design the perfect billboard for your brand and place it on a highway. But if your target audience isn’t driving on that highway, your efforts have been essentially wasted, costing you time and money.