Social media is a major part of most marketing budgets, and over the next five years it’s projected to increase by 90 per cent. However, 86 per cent of marketers still want to learn how to measure its ROI.
Finding the ROI is important, as marketers use over ten different types of social media sites. While most of these platforms are seeing slowed growth, Pinterest grew by 81 million users this year. Social media isn’t going away, and it’s important for businesses to take it seriously.
Professional marketing services can run between $4,000 and $7,000 a month. Since your total marketing budget should be between around 10 per cent of your total revenue, and your digital marketing is a substantial part, marketers must decide how they plan to manage their social media accounts. The most popular options are to hire a social media manager, a small marketing company, or a corporate marketing agency.
No matter your budget, a careful examination of your social media marketing budget is imperative. Create a strategy, consider your budget, and then find how to manage your social media in a way that’s right for your company.