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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aacmain/public_html/wp-includes/functions.php on line 6114Your company needs to see real growth this year. Love it or hate it, social media advertising is here to stay, at least for the foreseeable future. Maybe this time next year we’ll be writing about how to develop ads for the metaverse, but until then, no VR headsets are needed.<\/span><\/p>\n Now, it’s no secret that social media companies like Facebook<\/span> limited organic reach<\/span><\/a> for businesses some time ago. In fact, unless you’re a celebrity (or a wizard \ud83e\uddd9\u200d\u2642\ufe0f), you’ve got your work cut out for you when it comes to reaching your target audience. From<\/span> Apple’s blow<\/span><\/a> to Facebook’s ability to track user data for advertisers to Instagram saying it’s<\/span> no longer a photo app<\/span><\/a>, it would seem that the jig is up and social media advertising is dead…<\/span><\/p>\n …right?<\/span><\/p>\n WRONG!<\/span><\/p>\n The one thing that’s guaranteed in this world \u2014 besides death and taxes \u2014 is that creative marketers will always find a way to reach their target end-user. The best way to do this short of going viral is through paid social campaigns.<\/span><\/p>\n We know, we know, you might be thinking, “Boo! My campaigns have always been huge money wasters!”<\/span><\/p>\n But hear us out! Not only are we going to show you effective ways to market your product or business, we’re also going to tell you how to properly budget for it to get the best bang for your buck.<\/span><\/p>\n Yeah, we thought you’d like that. \ud83d\ude0e<\/span><\/p>\n <\/a><\/p>\n <\/p>\n The<\/span> SBA<\/span><\/a> says that companies with up to $5 million in revenue should set aside around 8% of that for marketing. This covers all types of potential marketing including social media marketing. How you divide that up is ultimately up to you, but the SBA recommends splitting it between brand development and the actual cost of promoting your business.<\/span><\/p>\n Deloitte’s<\/span> CMO survey<\/span><\/a>, which details the marketing spend of many different companies throughout different industries, shows that company’s in 2020 spent an average of 13% of their entire marketing budget just on social media.<\/span><\/p>\n Quick math time:<\/span><\/p>\n If your company has $10 million in gross revenue annually, your total marketing budget would be $800,000 for the year.<\/span><\/p>\n $10,000,000 x .08 = $800,000<\/span><\/p>\n If we imitate the average findings from Deloitte’s survey, you should be spending about $104,000 a year just on social media.<\/span><\/p>\n $800,000 x .13 = $104,000<\/span><\/p>\n Does that number make you nervous? \ud83d\ude30<\/span><\/p>\n If we break it down a bit more, it’s a little easier to handle. Remember that your numbers will differ from these (we are wizards though, so… \ud83d\udc40)<\/span><\/p>\n $104,000 \u00f7 12 months = $8,666.67\/month<\/span><\/p>\n $104,000 \u00f7 52 = $2,000\/week<\/span><\/p>\n $104,000 \u00f7 365 = $284.93\/day<\/span><\/p>\n So when you break it down on a per day or per week basis, the numbers are more manageable.\u00a0 You might also consider staggering your marketing efforts to get the most impact throughout the year. Maybe you spend more during the Q4 holiday, but ease up at the beginning of the year. Ramp back up right before and during tax season, then back down in summer. And while fluctuating your budgets throughout the year can help to maximize the effect of your social media marketing, it’s also important to build brand awareness all year long.<\/span><\/p>\nThe Top 4 Social Media Marketing Strategies and How to Budget For Them<\/b><\/h2>\n