Setting a Realistic Social Media Ad Budget (Part II)
How Much Should Your Company Spend on Social Media?
Step one in budgeting for social advertising is to decide how much you’re planning to spend on all your digital marketing endeavors.
- Next, you’ll need to determine what % of that budget is going to be dedicated to social media.
- Many businesses spend around 5% to 15% of yearly revenue on marketing
- Of the total marketing budget, around 35% to 45% must be spent on digital marketing happenings.
- Of the digital marketing budget, roughly 15% to 25% typically gets spent on social media marketing efforts (paid and organic).
- Your overall digital marketing aims have to play a factor in deciding how much gets allocated to social media spending.
Once you get the answer to those questions, it’s time to decide which social media channel your particular audience is using.
Social Media Channels That Allow Advertising
- Facebook Messenger
Don’t Forget Your Audience
There’s plenty of front-end work that must be finished before buying ad spend on social media, regardless of if you’re paying to enhance relevant content to audiences or buying ad space.
Social Advertising with Video Vs. Static Images
There are various ways to go about advertising on social media. Most companies are familiar with advertising through static image ads, but there is an increasing segment of advertisers that are using video ads.
Video content is usually pricier and more difficult to produce than a static image, but business is likely to make a greater impact and drive more engagement with a video advertisement, something all the social media channels appear to want.
The best thing about the video is that a piece of video content can frequently be used across numerous platforms and seems to have a longer “shelf life” than images. You can even cut video content up into various length clips to use in many capacities.