How much should a company spend on social media?
The honest answer to the common question:
If you want to promote your brand on social media, you are futuristic. If you don’t, sorry to say, but your brand is not user-friendly (read your target audience-friendly). I’m saying that and actually meaning it because whatever industry you belong to; if you are unavailable on social media, you are not in the mind of a large chunk of your potential audience.
Ask social media gurus about why you require a credible social media presence and they would potentially give you so many valid reasons – increased brand awareness, giving your brand an organic, human feel, be differentiating your brand from others in your niche, increasing customer loyalty, turning passive audience into active customers, building customers’ trust etc., – just a few reasons!
Anyways; once you are convinced enough to start off with a social media campaign, the very question that would strike you off is – how much should I spend on social media. If you are a start-up with a fewer revenue source, you would be surprised and perhaps shocked to know that professional social media solutions companies charge something between $50 to $200 and even more for very basic tasks. But if you are defined in terms of your requirements, you can save a ton.
Know your budget – Set goals – Compare quotations – Start:
The initial step of familiarizing yourself with your limitation in terms of spending is to know your budget. First of all, set aside some of your revenues/months for first phase testing. For example $20 for basic SMO tasks done from a professional SMO company – that too for few months.
Once you start getting results, slowly upgrade your plan and get additional features as given by the company. Initially spending a fortune is never a preferred way to start off with your social media campaign. It takes time for results, and if you are already fat without energy, you would have little to spend when you need mileage. So, spend less at the early stage. Set a realistic budget and do not try to lower it.
A very important step – some companies want traffic, some want referrals, some want likes and then some want direct revenues. Please be noted that if you directly want to get quick benefit such as sales, your initial spending needs to be high.
For other goals; you still need to wait. Making a credible fan base who like your content takes time and your social media account professionals need to devise futuristic content – that again takes time. So, even after months of work, if it is taking some time, in building a fan base – do not despair.
Wait and keep up the good work. You may not earn direct sales from social media platforms, but you are building a brand, a fanbase and word of mouth advertising – that is a massive sale!
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Some companies employ lazy and unprofessional SMO guys who will tell you how great their work is just to fool you. Ever heard of paid likes? They do it. So, make sure the company you choose is honest. Compare quotation; tell your defined requirements and goals, and inform your budget. Choose a company based on work and client reviews. If a company is asking for slightly more money than you can afford, hire it. A simple variation in pricing does not matter if you are serious about work.
Let the social media campaign begin. Wait, watch, compare stats and after waiting for a few months, if your results are worst; fire that company and search one that is really good!