5 Ways to Make the Most of Your Social Media Marketing Budget

Like most companies, you know the importance of having an active social media presence to build your brand and keep your customers engaged. But all of these activities can be expensive, especially if you don't have the right plan in place or are trying to do too much on your own. Luckily, the right social media marketing company can save you both time and money while providing valuable insight into how to get the most out of your social media budget. Here are five ways to make the most of your social media marketing budget with social media marketing support from a top agency.

1) Don't put all your eggs in one basket

It may be tempting to go all-in with a single social network, but you should never put all your eggs in one basket. While there's no doubt that some networks are more suited than others for your target market or to get specific things done, it's important not to discount other networks and their potential. You can save a lot of money and frustration by not locking yourself into anyone's network from the start.

2) Look into cost-effective advertising tools

LinkedIn offers a variety of ways to help you market your company, including sponsored updates and advertising. If you're just starting out, you can create a LinkedIn company page for free and start building connections. Facebook is another popular option for small businesses looking to get started in social media marketing. Create an attractive business page with clear information about your business and connect with relevant people from your community, as well as related businesses. On Twitter, you can post valuable tidbits about industry news, respond quickly with customer service questions or concerns, and share links back to your website. It's also a good idea to keep track of conversations on social media so that you can respond when appropriate; monitoring these conversations can help build brand awareness for future promotions and events.

3) Target the right people

You've got a limited marketing budget, so make sure you're targeting your money in ways that produce results. The main thing is not just spending more; it's spending smarter. For example, let's say you invest $10,000 into digital advertising on Twitter and Facebook over three months. If you get two new customers from your campaign, that means it costs $500 per customer — one-third of what most people spend on social media advertising. That's getting a bargain! Why? Because a new customer has invested their hard-earned money into your business and will be returning in the future (hopefully). They are more valuable than someone who has never heard of you or tried your product or service before.

4) set goals and track results

Whether you're marketing on Facebook, Twitter, or other social media platforms, it's essential to set quantifiable goals and track your results. This will help you determine what's working and what isn't. It might also encourage you to develop a new strategy based on hard data (i.e., don't give up when one thing isn't practical—try something else).

5) Get creative with content types

Unless you're a bona fide social media marketing genius, there is a good chance you have been making content that looks similar to everyone else's. If that sounds like you, it's time for a change. There are many different types of content available. If you're going for organic reach on social media, your goal should be to get as much variety as possible into your content stream. The easiest way to do that is by using several different formats (images, video, infographics). Research these formats and see which would work best with your target audience; then start mixing things up a bit! You will be amazed at how quickly you will see results once you start producing authentic content tailored toward engagement rather than views or followers.

The Bottom Line

When it comes to marketing your business on social media, cost does matter. There's no question that big brands can spend big bucks and get big results, but with a small marketing budget, you can still make waves—you just have to be smart about how you spend it. Get help from the best social media marketing agency that can assist you in your social media marketing journey.