Factors to Consider When Budgeting for a Social Media Marketing Campaign
There are several factors that you need to consider when budgeting for a social media marketing campaign. These are, in other words, the factors that ultimately determine what you will need to spend on the social media marketing campaign.
Firstly, when budgeting for a social media marketing campaign, you need to take into consideration the number of people who will be targeted in the campaign. Generally, the bigger the number of people targeted in a given social media marketing campaign, the higher the amount of money necessary to carry out the campaign. The assumption is that, for instance, you will need more social media workers to reach more people through the various social media platforms. But then, there are ways through which you can reach more people without spending much money. Indeed, if you are running a social media marketing campaign in which you will be seeking to reach very huge numbers of people, it is very essential for you to have some understanding of those methods through which you can reach more people without spending much money.
Secondly, when budgeting for a social media marketing campaign, you need to take into consideration the types of platforms on which the social media marketing campaign is to be carried out. If, for instance, the social media marketing campaign is to be carried out through the mobile computing platform, money will probably have to be expended on procurement of the mobile computing devices. So the hardware platforms on which social media marketing is carried out matter a great deal. But so do the software platforms on which social media marketing is carried out. The cost of doing a huge campaign on Facebook is, for instance, likely to be different from the cost of doing a huge campaign on Twitter.
Thirdly, when budgeting for a social media marketing campaign, you need to take into consideration the type of product you will be trying to marketing. The ‘product’ here could be tangible one, or it could be some sort of a service. The product being marketed will influence the number of people you will need to target in the social media marketing campaign, which will in turn influence the cost of the campaign in the manner we explored earlier. If, for instance, you are marketing a fast moving consumer product, you will probably have to target more people than, say, a professional service provider targeting a smaller market. The type of product you are marketing will also influence the ideal platform to market on, which should in turn influence the cost of the social media marketing campaign in the manner we explored earlier.
Fourthly, when budgeting for a social media marketing campaign, you need to take into consideration the social marketing model you will be using in that particular campaign. The cost of carrying out a social media marketing campaign in-house is likely to be different from the cost of contracting a specialist firm to carry out the social media marketing campaign for you. If you use a model where you only focus your energies on a particular social network, you will spend a different amount of money from someone carrying out marketing on several social networking sites at the same time.
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