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5 Ways To Make The Most Of Your Social Media Marketing Budget

Women in yellow t-shirt working in office with laptop

Social media is a great tool for small businesses and big brands alike. It’s a cost-effective way to reach out to a wider audience and build brand awareness.

It also gives businesses the chance to really connect with their customers on a personal level and to create targeted campaigns according to their specific preferences and lifestyle. There are several ways to promote your business on social media. You could create targeted ads, shopping links, or even take part in events and collaborative marketing. If your budget is a little limited, however, here are a few ways to get the most out of it.

Work with a social media agency

The best thing to do is to work with a Social Media Agency. They will be able to provide you with professional insights on how to set a smart social budget. They will also have access to the latest technology and resources, along with talented designers and branding experts. It’s worth investing in your digital marketing as a professional agency will help you maximise ROI. You may also be more likely to lose money on unsuccessful campaigns if not.

Set measurable goals

Whether you outsource or DIY your social media marketing, you need to clearly outline your goals. These should be measurable and relevant to your business objective. You could try using the SMART goals criteria for goal setting. This states that goals should be specific, measurable, attainable, relevant, and time-bound. By setting smarter goals you can monitor your process more easily and keep a clear idea in mind of what you want to achieve.

Analyse customer data

You need to constantly monitor the performance of all your social media marketing strategies. There are several free and paid analytical tools to help you do this. This will let you know where it’s worth investing your budget and how you can optimise your spending. Another option is to get customer feedback using surveys and personalised email campaigns.

Create ads that draw traffic

To get the most out of your ad budget you need to create something that will really stand out. To do this, consider the goals for each ad campaign. If you’re advertising on social media to draw traffic to your site you need to create engaging and enticing content. It’s also essential to optimise your website, as drawing in the traffic is only the first step. You also need to make sure users stay on your site to get the most out of your marketing efforts.

Test and retest

Test and retest all ads and other marketing material on social media. A/B testing is a useful method. Run two different versions of your ads or change certain features such as images, headlines, descriptions, and more. Here is a complete guide on how to do A/B testing. In order to maximise your social media budget you need to monitor your progress and look for areas of improvement. This will help you figure out what works best for your business.

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