5 Simple Steps to a Social Media Budget That Will Win Your Boss Over

The time has come.

You do social media… You have some thousands of fans on Facebook and Twitter already. But to effectively scale your efforts you need a social media budget.

You have the ideas and a realistic strategy.

Now you need a budget for advertising and for purchasing some tools that are going to make your job more effective.

The question is how to convince your boss.

Here is a list of steps you need to do to show the right numbers and advantages. (Numbers always work!)

#1. Check out your competition as your first step in preparing a social media budget

One of the first steps to take when preparing your social media budget is to scope out the competition. Find out what advertising tactics and tools they use and how they are doing with them. Then, find out what’s out there that costs less and delivers better results.

Also, you want to understand your competition in order to pinpoint what helps your company stand out from the rest. Looking at others in your field will help you do this better.

For example if you were into fashion, then this post from Nordstrom can give you the information that they use Pinterest contests.

 

#2. Convince your boss that your time is his/her money

Bottom line: if you spend on tools, then you can do more real things to help generate revenue. Being able to prove to your boss how the time you ultimately save by using social media tools can be time better spent in other revenue-generating activities goes a long way.

As social media adviser and founder of RazorSocial, Ian Cleary, states in a recent RazorSocial article:

“Social media marketing is time consuming. There are so many channels and so much content required that it can be a real drain on your time. And this time equates to money!”

Your boss may perceive the cost of paying for good social media management tools as an unnecessarily large expenditure – even though many effective, reliable tools are actually quite reasonably priced.

When your boss understands how the upfront costs for good tools is fully recoverable (in the forms of both more time and more money), then you’ve gotten off to a good start in presenting your case for a social media budget.

Post Planner is a tool that clearly emphasises its benefit: saving 2 hours a day, a huge portion of your job.

social-media-budget-postplanner

This tool claims to help to save 2 hours daily.

#3. Research the tools you would like to use, compare them, and make a suggestion about which one(s) the company should pay for

When preparing your social media budget, make sure you learn as much as possible about the best tools available for your company’s needs. Start with a “wish list,” if you will.

  • Many tools come with free trials, so take advantage of them when possible.
  • Vet your wish list by comparing how the tools work versus what you need them for.
  • Further narrow the choices by learning how much the tools cost and compare the prices against what you are able to afford.

With this knowledge, you’ll be able to present your boss with a well-researched plan about the tool(s) you have chosen, along with the how’s and why’s for how they work.

A decision matrix can help to evaluate the opportunities. Like this one from a student. (Source) I don’t say it’s pretty, but can help with evaluation.

social-media-budget-decision-matrix

A decision matrix can help to evaluate choices by the criteria that are the most important for you.

#4. Plan campaigns in advance, assign costs and benefits

The next step in preparing your social media budget is to be able to prove how social media marketing is going to work for your company. In other words, you will want to be able to show real numbers to your boss.

You need to thoroughly explain how and why your department plans to implement and measure the following benefits:

  • Brand Awareness
  • SEO (Search Engine Optimization) and SERP (Search Engine Result Pages) rankings
  • Lead generation and conversions

Running a contest on Facebook is one of the best and easiest ways to get the ball rolling, so to speak. Antavo, for example, empowers marketing professionals to create promotions and contests which helps drive leads and brand awareness. You can easily plan a social media campaign with Antavo, as know all your upfront costs.

social-media-budget-antavo

Most tools have a feature matrix, so you know which option is the best fit,

#5. Ask for an interim advertising budget for a trial period

When it comes to targeting your marketing, remember that size does matter, and the size of the demographic often defines the budget.

Request an interim advertising budget for Facebook for 2-3 weeks. Go small by targeting a small, specific population, then devote the allotted amount to this one demographic. For as little as $50/month, you can potentially garner several thousand impressions on your ad – all from your potential clients. Wow!!

Make sure you measure all your activity and conversions in Google Analytics, so you can provide your boss with the real numbers he or she desires after the 2-3 weeks.

Over to you

Think these results may help win your boss over?

Now that you know these simple steps, you should go and start working!

I’d love to hear your ideas and experiences. Please feel free to leave comments below.

5 Simple Steps to a Social Media Budget That Will Win Your Boss Over by
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Jennifer is the owner and managing director of j+ Media Solutions which offers social and content solutions to SMBs. Writing is a newfound passion and she blogs regularly. In her spare time she enjoys spending time with her family, reading, baking and pinning on Pinterest.

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  • http://jasonhjh.com/ Jason HJH

    Very helpful article!

    By the way, I’d add “On a scale of 1 to 5, how well does this tool fit into my workflow” into the decision making matrix. I found this criterion to be one of the most important ones when trying a variety of tools. Some tools require more effort to “remember” to use.

    • http://www.antavo.com/ Zsuzsa Szabo

      I agree Jason! Especially at nice to have tools. At must-have tools you must squeeze it to your schedule. Sometimes it’s painful, but as they say it takes 21 days to make a habit.