The Art & Science of Budgeting for Social Media
Post on 06-Dec-2014
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Social Media Marketing
The Science & Art of Budgeting
Lakshmikant Gupta
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The Dilemma of Choice
Budget is about Choice of Community
Audience Type & Diversity is Crucial
Less than 10% are Creators
Encourage them
20-30% are Participants
Engage them
Majority are Watchers
Entertain & Inform them
Deciding Spending Based on Activity
Brand CreatesPeople Participate
Brand & PeopleBoth create
People CreateBrand Watches &
Participates
Only Brand createsPeople watch
Decide on spending priorities based on who you’re targeting & the message
Creators
Participants
watchers
Choose Your Levels & DegreesBefore budgeting determine your level of content creation required, and degree of interaction your brand and audience needs
Contentcreation
ListeningLowInteraction
HighInteraction
Low Cost
High Cost
Expected Marketing Costs
CONVERSATIONSSocial Accounts, e.g. FB, TwitterUse existing brand assets and materialAim for low cost
CALL-TO-ACTION/PROMOTIONS
Social Accounts + Online Media spendDo promotional spending; need prizes/gratificationModerate-to-High cost
PRODUCT DEMO/VIRALS
Social accounts + seeding + blogger engagementProduce videos; promote to encourage sharingModerate-to-High cost
Budgeting Heads to Plan For
Facebook/ Twitter
- Dedicated Team- Themes of messaging- Stock material
Facebook/ Twitter
- Dedicated Team- Themes of messaging- Stock material
Brand messages via Demos/Videos
- Sourcing films- Making videos
Brand messages via Demos/Videos
- Sourcing films- Making videos
Messaging via online chatter- Online Forums- Comments/ service
Messaging via online chatter- Online Forums- Comments/ service
Brand message via buzz/ interaction- Promos- Contests- Gratification
Brand message via buzz/ interaction- Promos- Contests- Gratification
L i s t e n i n g & T r a c k i n g
L i s t e n i n g & T r a c k i n g
L i s
t e
n i n
g &
T
r a
c k
i n
gL i s
t e n
i n g
& T
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k i n
g
Budgeting: FB/Twitter Conversations
Optimize existing brand assets & occasions
Brand Sponsorships & New Product launch
Social occasions & Festivals
Disseminate information & Generate conversation at low or
no cost
Remember, for greater FB reach you may have to plan for
ads on FB
(Rs. 5-15 lakh per campaign)
Budgeting: Engagement & Contest
Increase traffic & membership
Create recall for products, features & propositions
Must build in a way that encourages sharing
Display Media or SEM spending optional depending on
objectives
Budgeting: Monitoring & Using Buzz
Benign presence to listen, monitor and answer questions
Especially important for service-oriented categories
Invest in tools to continuously monitor and track
Invest in back-end systems to address queries and
complains on time
Budgeting: Films & Online Videos When to use:
Showcase and demonstrate technology
Multiple messages going beyond TVC
Target audience spends more time online than offline
Use own existing content (e.g TV AFP, sponsorship
entitlements,
product videos)
Make multitude of videos on together (scale for efficiency)
Combining All Aspects of Social
Videos
Contests/ Promos
FB/ Twitter/ Pinterest
Benign Presence
Acquire, Engage
Impact
ServiceRep
mgmt
Cost
Interactivity Level
Bonding
Resource #1: People! Must have minimum one person dedicated to Social Media
Ensure this person is socially active him/herself
Allow flexibility, but operate with a defined calendar
Dedicated Social agency is a must
Should have multi-platform & cross-function capability
Must be strong in Analytics
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