#004 – Marketing Budgets
Where's your social spend?

Published on April 9, 2018

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Marketing budgets aren’t complete unless they’re backed by a coherent social media strategy. Which needs to include a content creation plan and a deliberate PPC advertising plan. And the will to fund it all.

There are three phases to successfully using Facebook for your business. A Likes Phase to grow an audience; an Engagement Phase to keep them coming back; and a Conversion Phase where you ask your audience to do something for you.

Allocating for Facebook boosting in your marketing budgets.

All three phases will go much better when you have a dedicated budget allocated.

Likes phase – if your marketing strategy requires regular Facebook campaigns then getting people to Like your page is critical to long-term efficiency and success. Facebook charges you much more to boost/advertise to people outside of your Likes, so in the long run (after multiple boosts) you’re actually wasting budget. An ideal Likes campaign is one that runs in the background gathering a steady stream of new Likers.

Engagement phase – Current algorithms seem to restrict organic reach to roughly around 16% (best case scenario) of your Page Likes. When you have a reasonable number of Page Likes, boosting your posts means that you reach MORE of your audience.

Conversion phase – Same as the above in terms of boosting. As a rough rule of thumb, the ratio of Engaging posts versus Converting posts (e.g. buy now, signup here, join here, schedule meeting etc) needs to be in the order of 80:20. For every eight bits of engaging content, you can get two posts to ask your fans to do something for you.

Here’s an episode that’ll give you some insights on what kind of content to make.