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How to Plan A Social Media Budget – Three Things To Consider

by Shannon Huppin on August 9, 2017

How to Plan A Social Media Budget - Three Things To Consider - Divahound

Even (or rather, especially!) a small business should make sure that their social media efforts fit into their annual budget. And even if a small business is choosing to utilize social media as a more affordable marketing option, a budget can keep everyone on the same page and identify areas to improve. Here are three main budget “buckets” to consider when planning a social media budget.

Time

Social media management doesn’t have to take up your entire day, but it does take time to successfully plan and execute. You should be budgeting the cost of hours that you expect you or staff to spend on social media planning, creation, and posting. Also, consider adding time for responding to comments or any customer service issues handled via social media platforms.

If you’re thinking about hiring someone to help you run your social media marketing efforts, their time and costs should also be factored into a budget. Here are some tips on how to choose the right social media partner.

Tools

Whatever you use to plan, create and execute your social media efforts can be considered tools that can be budgeted for. Don’t forget to add a line in for any online subscriptions or services that can help your social media plan take off. Design tools, scheduling services or customer service chat bots should be part of a successful social media budget so that as your business grows, you can see what items are being utilized effectively and adjust your budget accordingly.

Promotion

It’s becoming harder and harder to reach audiences organically, and “paying to play” is not only common but nearly necessary for any small businesses to compete. A big bucket of your social media budget should include costs of promoting posts on the platforms that mean the most to your small business. In addition to promotional and advertising costs, factor in any contest prizes or giveaway items you may want to utilize in order to grow your online social presence.

Divahound has been helping small businesses grow their social media platforms for many years and can help you determine how to execute your social media strategy effectively. Contact us today!

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Shannon Huppin

Social Media Manager at Divahound, LLC
Building a Social Media Presence For Your Small Business. The Diva of Social Media. We're Ready to Play. Are You?
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