We wanted to resolve the debate about social media marketing. Are you wasting your time or not?
There’s a new buzz in town about social media marketing. Every second spam email or online marketing company cold calling you trying to set up a meeting with you, will bombard you with statistics of how important social media marketing is for your company.
They will continue to baffle you with numbers and videos to make you believe that if you don’t act immediately and pay loads of money for social media marketing, you will not only lose your business, but you and your family will get arrested for being ignorant and behind the times.
YES there are some big numbers. YES 43% of all online consumers are social media followers. YES 53% of twitter users recommend companies and products in tweets. Yes 55% this and 98% that… So what?!?
Should you spend half or 80% on your budget to get tweets by other people about your company, or should you rather invest your money in something worthwhile such as Adwords campaigns and search engine optimisation that yield direct results?
Let me give you that percentage this percentage about these 2 players:
So before being baffled into spending half your marketing money on social media, try to understand these 2 pie charts.
Yes social media matters but do not neglect your search engine optimisation and online marketing resources and budgets because of it. The trick is to spend a linear amount of budget and resources corresponding to the overall percentage traffic they may potentially generate since this is indicative of the importance of each platform / marketing sector.
The big difference between social media marketing and search engine optimisation, is with social media marketing you are promoting your brand mostly. Search engine optimisation and pay per click focus on sales. So for smaller companies I do not advise spending major resources on social media marketing. The brand name will come in time. In the meantime focus on sales and your overheads.
How should small new companies (Yearly turnover below 1 million) spend their online marketing budget?
Simple:
- 80% search engine optimisation
- 20% pay per click advertising.
How should medium to large companies (Yearly turnover above 3 million) spend their online marketing budget?
Simple:
- spend 18% on social media marketing
- spend 60% on search engine optimisation
- spend 24% on pay per click
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