cost effective social media marketing

How To Set Up Cost-Effective Social Media Marketing

Given our current economic downturn due to the pandemic, you’re likely looking for new and innovative ways to market your company and services. You certainly wouldn’t be alone.

Here’s some good news. If you engage in social media marketing, it will almost always be more cost-effective than other forms of business outreach.

This means you’ll have the latitude to experiment, try new things, and take risks to find that perfect alchemy that your clients will respond to. One study found that even just a few hours a week on social media marketing efforts translated into increased web traffic in over 80% of cases.

And whether you choose to bootstrap a strategy based on your existing resources, or outsource to a digital marketing agency, the steps to success on social media are similar. Here’s how to ensure your efforts result in cost-effective social media marketing.

Cost-effective social media marketing starts with quality, clickable content

Moving into social media without content is like putting the cart before the horse. And while sales and product posts are easy to produce, a quality social media strategy will require a bit more time to sketch out. Think of it as a platform where you can establish your brand and expertise, create awareness and build trust with potential customers. And to do this, you need quality content.

Meet your clients’ needs by carefully considering what they might be looking for, their pain points and their concerns, before building a strategy around this. You may already have advice, tips and hacks up your sleeve to this end. Feel free to repurpose white papers and business reports, as long as they are easily digestible.

Share your content across your platforms, and make sure to engage with any users that decide to comment or ask questions.

Use Facebook as part of your social media strategy

There’s a learning curve involved with using social media, but it’s not nearly as intimidating as it may seem. If you’ve ever used Facebook, you’re already well on your way.

With over 2.7 billion users, you’d be hard-pressed to find someone who doesn’t have a FB profile. For that reason, if you’re not sure where to devote your limited budget, Facebook is the place to start for cost-effective social media marketing. And it’s a powerful platform. You can create your business page, publish regular posts, and form an insiders group for your loyal clients. Your audience can bypass the extra steps involved in sending you an email and reach out to you directly through Facebook.

Facebook is also supremely effective at publishing targeted ads. You can choose who will see your ad, down to the specific age group, gender, geographical location and other attributes of your choosing and receive detailed insights on how well your ad performs – a tall order for traditional marketing.

Track your ROI of your social strategy

Most social media platforms have built-in functions to help you measure the success of your marketing efforts. You’ll be able to keep an eye on stats such as likes, engagements, impressions, and even sales resulting from your ads and posts. And because this tracking is all automated, there’s no need to expend additional resources to monitor marketing performance.

However, it is vital to regularly review each platform’s reporting, particularly if you want to keep your costs low. Check for underperforming posts, and rework them before trying again. Experiment with different types of content to see which appeal to your audience the most. And double down on your most effective marketing tactics while continuing to experiment with new ones – it’s ideal to have a diversified strategy.

Traditional marketing still has a role to play in your outreach strategy. Still, social media is emerging to become just as important, if not more so, in reaching existing and new clients. The cost-effectiveness of a social media strategy is particularly appealing, especially during our current circumstances.

If you’re interested in building on your existing approach to supercharge your social media efforts and increase awareness of your brand, generate new leads, and create additional opportunities, contact Asset Digital Marketing for custom solutions to your business challenges.