A whopping 60% of marketers feel that the way they spend their budget — and the ROI it produces — is being scrutinized more now than in the past.
So, it’s no surprise you landed here to discover how you can better optimize your social media budget this year.
As a content pro (and former social media manager), I’ve got you covered. Let’s talk about what a good social media marketing budget looks like, who should be involved, and how you can data-charge your approach.
What is a Social Media Budget?
Strategy and planning:
This includes setting goals and objectives, conducting audience research and competitive analysis, choosing priority channels, and establishing KPIs. Content development and publishing: This includes establishing a content cadence, building a content calendar, writing content and creating multimedia content (e.g., audio and video), and scheduling/publishing content.
Community management:
This includes building and maintaining online brand communities, tracking brand mentions, and monitoring conversations via hashtags, comments, and direct messages.
Data analytics and reporting:
This includes evaluating post-level metrics (e.g., reach, impressions, engagements), building reports, and optimizing content performance.
Tools and software:
This includes publishing, reporting, campaign management, social listening and monitoring, and other social media management tools. (If you want a one-stop-shop option, HubSpot’s Social Media Management Software does all of this for free.)
Social commerce, sponsored content, and advertising:
This includes managing in-platform product sales and promotion, working with influencers or creators, and running paid ad campaigns. (And if you need help planning your ad strategy, this kit is great for that.)
Learning and development:
This includes training new hires, offering continued education courses, and upskilling based on AI best practices or other emerging trends.
Miscellaneous expenses:
This includes social media giveaways, contests, and other promotions that hold monetary value or require additional resources.
Read the rest of this article:
https://blog.hubspot.com/marketing/social-media-budget
By: Alana Chinn
Publication Date: 2025-01-08