Where Should You Spend Your Social Budget in 2022?
Follow these 4 steps to invest in the platforms and strategies that will grow your business and make it metaverse ready. We all know that when it comes to innovation, Dubai always at the forefront of tech development and the metaverse dubai is going to be a huge opportunity.
Social media used to be where small businesses went for free advertising. Once you built up a decent following all you had to do was post about a new product or service on Facebook and then watch the sales roll in.
Unfortunately, that’s no longer the case.
Organic social reach has dropped significantly since the early days of social media. In fact, recent data from Hootsuite suggests that organic social reach has dropped to just 5%.
Today, if you want to reach a meaningful audience on a platform you’ll need to pay for ads. And that’s on top of all the other costs involved in social media marketing. According to WebFX organizations now spend up to $7,000 a month on social media. That’s more than $200 a day!
As a small business, you likely aren’t able to spend anywhere close to that. So, you need to maximize your social media budget and squeeze as many likes, follows, and shares out of every dollar you spend.
Like you, we use social media to spread the word about our business, and we want to make sure we’re getting the most bang for our buck. Our social content gets approximately five million impressions each month, and we’ve learned a few things along the way.
Here are our best tips for maximizing your social media budget in 2022.
Start with a plan
You probably already have a plan for your social media. But have you actually written it down and formalized it?
Start by asking yourself the following questions:
- How much money can you afford to spend on social media each month?
- What are your goals?
- What will you measure and how?
- What types of content will resonate with your audience?
- What tools are you going to use?
- Will you outsource any of the work?
- Where are you directing your social media traffic?
Obviously, your monthly budget will dictate much of your plan, so start with that. From there, you can write down some realistic goals, brainstorm content ideas, and determine whether you want to invest in any tools or professional services.
Where oh where have your customers gone?
Before you start posting you need to figure out where you’re going to post. You know you need to “meet your customers where they already hang out online.” But how do you find out where that is?
There’s plenty of demographic data available for each platform, so that’s a good place to start. For example, Pinterest skews heavily female while Twitter users are primarily male. And if your customers are between the ages of 18-24 their app of choice is probably TikTok.
In addition to demographics, platforms often cater to specific types of content, hobbies, and interests. Do your research and find the platforms where your audience is spending their time. Those are the apps that will likely give you the best ROI.
But don’t stop there. Once you’ve got the channel, think about your content and desired ‘next action.’ Does the channel allow users to take that action? Is that important, or is engagement enough? Are you equipped to produce the kind of content needed to be successful on that platform?
Make sure you’re clear on all the above before committing to a channel.
Don’t be all style and no substance
If you’re not careful, content production can really drain your budget.
Too many small businesses focus on getting the “right look.” They invest heavily in professional photos and flashy graphics while overlooking what really matters: delivering value to your audience.
As a small business, this is where you can really save money. Keep your production value low and instead focus on delivering quality content that your customers love.
Put off spending money on professional photographers and designers until you have a large enough audience and you know you can make the investment back.
Measure what (actually) matters
Part of managing your social media budget is analyzing your results to see what is and isn’t working. That way, you can continue to invest your money in platforms and strategies that generate a positive ROI.
When it comes to analytics, be sure you’re looking at the right metrics. Having lots of followers and impressions is great, but those numbers don’t necessarily translate into money in your bank account.
Instead, focus on stats like conversions and engagement rates per impression. This will give you a much better idea of which platforms you should spend money on, and which ones aren’t worth your time.
Send ‘em to your social media (then send ‘em to your landing pages!)
Social media marketing starts with investing in the right platforms and producing high-value content. Unfortunately, too many small businesses stop there.
If you want to turn your followers into customers you need to ask them to take an action, and have somewhere where they can perform that action.
Make sure to allocate some of your social media budget towards a strong sales funnel. That way, when your audience decides they’re ready to buy they know where to go.
It’s already November, so now’s the time to follow the steps above and start planning your social media budget for 2022.
Now that the metaverse is here, you need to plan for that too.
How IT Directors can Prepare for the Metaverse?
Although Metaverse went mainstream after FB changed its name to Meta, the real metaverse was already in motion well before that.
Microsoft’s latest Flight Simulator is a very good example of where the Metaverse is headed.
The Flight Simulator contains over 2.5 million gigabytes of data, because Microsoft mapped the real world and built it into the game.
It has 2 trillion unique trees, and 1.5 billion unique buildings.
The simulator matches real-world activity, including weather (some people flew into a hurricane just to check it out).
This is called a “mirror world,” and in the future people might use these digital assets to design buildings for real-world construction or digital use only.
You could buy a hyper-realistic digital property in which you live, interact, or go on mini-vacations. (This is exactly what we are doing with our Dubai Digital project and if you would like to know more call 050 6986164).
So how can IT Directors prepare for the Metaverse?
To start with you can integrate Augmented Reality into your ERP and this speeds up Immersive Learning.
Which means you can have Simulated Workflows and Mixed Reality Applications powering your business.
The Metaverse will eventually become another standard way of working, much like smartphones today and companies that prepare for it will win the race.