In addition to a lot of self-deprecating jokes about my unfortunate use of Myspace in the early 2000’s, the talk dove into the increased focus on social media as a marketing function, punctuated by some quick stats about the growth of social marketing.
These stats include:
Social media ad spend is more than $23 billion in 2015
There are an estimated 76,000 social media professionals worldwide
54,000 jobs on Indeed.com include “social media” in the description
Social media’s share of the digital marketing budget is expected to grow by 126% over the next five years
Why is the industry growing? Over 2 billion people use social media worldwide, and in the US, we spend almost two hours per day social networking.
As marketers, the opportunity to gain traction on social is growing at a breakneck pace, but first, we need to convince our CMOs why they should invest more than they already have. Whether that investment helps us secure software or more staff, this will take work.
In this post, I want to walk through a few quick tips for getting the budget you need to make the biggest impact you can.
1. Bring More to the Table
As a social marketer, you have the ability to make a massive impact on your greater marketing team. You know what your customers are doing at this moment, and are sitting on a gold mine.
To do this, you have to think like a marketer, so start with your personas.
What does your email marketing specialist need?
Have a conversation. Find out what their pain points are. Can you A/B test subject line effectiveness on Twitter, or take a quick poll of your audience to see what topics they’d be interested in?
What does your paid media specialist need?
Advertising can be a scary thing. Media buyers spend a lot of money promoting content and posting ads across social and the web. As a social media manager, you have the ability to test content that your media team plans on promoting, saving money and time on content that might not be the most valuable.
What does your content team need?
Content teams are focused on producing assets that your audience will find interesting, and will ultimately serve your brand. You know what your audience is interested in, and have the ability to research trends, new personas, and competitive tactics to supply them with a constant stream of options.
By adding value to other marketing programs, you become an indispensable part of the team. This HAS to be step number one if you’re looking for more budget.
2. Create a Common Language
Your CMO doesn’t care about a Repin or an Instagram comment. He or she wants to know how social is impacting the business beyond that. You need to report to your CMO in a more meaningful way, and you can do that by leveling up your social KPIs to marketing objectives.
In his talk “Defining Social Success”, our Senior Director of Marketing Uri Bar-Joseph shared the following map that will help you do just that:
3. Create an Action Plan Based in Data
In order to get buy-in for a bigger budget, you need to explain what you’ll do with it. This is a relatively easy formula:
Outline what you aren’t doing now because you don’t have the resources.
Set a goal. What do you want to do with your program?
Create a plan. This should include needs, and a commitment. What will you be able to accomplish if you get the support you need?
Back it up with data. What aren’t you able to do, and what will you be able to do with more budget? This means cold, hard numbers.
4. Do What You Can
If your proposal has something that you can do with limited budget and use as proof, do it. Find one component that allows you to move the needle, and make it happen. This will only bolster your argument when you ask your boss for more resources.
Example: If you need budget for an analytics tool, sign up for a free trial or use free reports.
Reporting: Create an easy-to-consume executive report so you can show your CMO what they can expect each week.
Optimization: Use those analytics to make decisions, and share the impact it has with your boss.
Social marketing is a growing industry, and in order to make an impact, you’ll need increasingly better tools and resources to do the job. Check out our guide below on how to define impact, and communicate performance across the social marketing organization.
Get everything you need to analyze the metrics that matter
How to Define Social Impact and Communicate Your Performance
5 Popular Crowdsourced Hashtags, Their Twitter Birthdates, And How Brands Use Them NowLucy HitzBlogger ExtraordinaireSimply Measured
When you’re scrolling through your feed and see #TGIF about one zillion times on Friday afternoon at 4 PM, do you ever wonder where that hashtag originated? Who was the first person to think of that? And how are brands leveraging these ubiquitous hashtags to gain more engagement, discoverability, awareness, and audience relevance on Twitter? I’m so glad… Continue Reading
How National Geographic Drives Giant Facebook, Twitter, and Instagram EngagementLucy HitzBlogger ExtraordinaireSimply Measured
Social media analytics company Shareablee ranked National Geographic as the most effective publisher in the social space for the month of July, with 46.4 million engagements on Facebook, Twitter and Instagram. Today, National Geographic has an audience that’s 40 million-strong between Twitter, Facebook, and Instagram. The Washington, D.C.-based nonprofit owes its social success to a cohesive cross-network strategy designed to… Continue Reading
How to Use Quizzes to Generate Leads on SocialJP MisenasBlogger ExtraordinaireSimply Measured
Not a day goes that you don’t come across a social posts like, “How much do you actually know about the world?,” “Which color best suits your personality?,” or “Which celebrity would be your ideal best friend?” Quizzes have flooded our social media feeds for years now. The reason that brands continue to employ them is… Continue Reading
Top 10 Social Stats This WeekLucy HitzBlogger ExtraordinaireSimply Measured
We know you don’t have endless time to pore over the most relevant happenings in social media news, but it’s our job, so let us help. Here are the social stats we’re mulling over this week. 1. 93.2% of US bloggers rely on social media marketing to drive traffic According to a recent eMarketer article, US… Continue Reading