The Art & Science of Budgeting for Social Media

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

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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

Lk Gupta

[email protected]

@Lk_gupta

http://www.Lkguptaspeak.com