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show notes

Stages of Development

Episode A.028 Social Media Budget

18/6/2020

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Introduction
​This week we are continuing our series on Plan - Budget - Action. Regardless of your global location, the world's economy is coming out of the forced shutdown and will experienced a V Shaped (quick contraction followed by a quick expansion) Recovery during the 3RD Quarter (July - August). The goal of IBGR's Programming is to get you ready to claw back as much of your lost revenue as possible.
​
Show Objectives
Using baseline data from industry research to determine:
  1. Your Total Marketing Budget for the Year
  2. Percentage of Marketing Budget Spent on Digital
  3. Percentage of Digital Media on Social Media
​
What You Need to Know
(Web Strategies)
​Marketing Spend for Business
  • 5%-15% of annual revenue on marketing
  • 35%-45% of marketing budget on digital
  • 15%-25% of digital budget on social media

Social Media Channels
  • Facebook 2.2 Billion Users
  • FB Messenger 1.3 Billion Users
  • Instagram 1 Billion
  • LinkedIn $575 Million
  • Snapchat 310 Million
  • Twitter 330 Million
  • Pinterest 250 Million
  • Yelp 142 Million

United States Breakdown
  • YouTube 73%
  • Facebook 68%
  • Instagram 35%
  • Pinterest 29%
  • Snapcaht 27%
  • LinkedIn 25%
  • Twitter 24%
  • WhatsApp 22%

Budgeting Time & Money
  • Strategy 10%
  • Project Management 10%
  • Design, Graphics, Videography, Visuals 30%
  • Ad Spend 40%
  • Copywriting 10%
  • Tracking Results 5%

What You Need to Do
Assumptions
  • Last years Revenue $1,000,000
  • Budget for Marketing $100,000​
  • Budget for Digital Media $45,000
  • Budget for Social Media $11,250

Example Budget

Social Media Marketing
Material Costs
Labor Costs
Outsourcing Costs
Total
1. Strategy
$0.00
$140.00
$500.00
$640.00
2. Project Management
$0.00
$1,000.00
$0.00
$1,000.00
3. DGVV
$120.00
$500.00
$500.00
$1,200.00
4. Ad Spend
$4,000.00
$500.00
$0.00
$4,500.00
5. Copywriting
$0.00
$0.00
$1,000.00
$1,000.00
6. Tracking Results
$0.00
$500.00
$0.00
$500.00
Total
$4,120.00
$2,640.00
$2,000.00
$8,760.00
Percent
47%
30%
23%
Misc. Thoughts
  1. This budget has $2,490 remaining from the $11,250 allocated - mix it between buying more ad's and outsourcing more work.
  2. Never allow your labor costs to exceed 33% of the total budget - 30% in the example is a good ceiling, outsource any additional hours for activity work.
  3. Using Facebook as an example, if you ran ad's on Facebook for 50 weeks you could spend $80 a week which would reach about 4,000 people per week.

Next Show: ​A.029 Brand  Analytics
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