You will make a big mistake if you spend what others are spending on social media marketing.
You are likely a business owner lost in the ocean of wearing lots of hats and feeling overwhelmed with creating posts on social media and or trying to determine the right number in regards to cost per click to get that sale.
There are many varying views on what we should spend on social media marketing. And I even came across more as I wrote this blog. Take the image below.
I went into Google's search box and asked, "What is a typical marketing budget percentage?" And see below.
Hi, my name is Monique M., and I work as a virtual copywriter and marketer. And I too have struggled with how much I should spend on social media marketing. The one thing I can say is don't bother spending money on boosted post. Instead spend it on targeted ads.
But back to the subject. I have researched this topic too and I have come across different suggestions but the best one is spending only 5 % of what your gross income is. Or if you have a targeted income that you expect.
Yet, I find others spend from 11% - to 12% and even as high as 20% if you really want to make a dent. I guess it can depend on the type of results you are seeking.
Since I Started My Business
As for me, I spend only 5% of my previous month's income or what I expect to get paid on social media or ads. However, I see that the more you spend the more exposure you can hope for then resulting in more traffic?
I always seem to make back my marketing dollars + over 100% more within the year. Maybe not that particular month always - but overall, I always win.
Start Up Bootstrapping
One article suggested spending 2 percent if you are starting out. Yet, see this image below for an idea of what you can do to begin.
What have you been spending on your social media marketing? Or what is your average cost per click for your particular industry? Please share with others to help us wrap our heads around what they may want to consider spending on social media marketing. Thank you ;D
This post was written by Monique Marcano, Copywriter and Founder of Business Advertising Media. A virtual marketing agency helping start ups gain courage and strength to keep with their dream. If you have any questions, please reach out. Text your questions to 425-273-4141. Thanks for reading.