It looks so easy. Pop a few videos up on Instagram; make people laugh, cry, think… and you’re golden. You’ll gain traction, your audience will clamor for more, and you’ll win over prospects, delight customers, and cement your reputation as the top choice in your space.
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Social media can seem like the panacea to all that ills marketers today. Need to build brand awareness? Try social media. Hoping to increase engagement numbers? Try social media. Looking to promote a new product line? Try social media.
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How much are you spending on your social media campaigns right now? Is that just right or too much? Do businesses your size usually spend this much money every month? If you’re asking questions like those, you’re not alone. Understanding the answer to the bigger question - how do you calculate a social media ad budget - is key for many companies today, but there’s no easy answer. This quick guide can help you understand the basics of social media ads in 2022.
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Back in 2017, influencer marketing really picked up. Well, it's now an $8 Billion industry. And it’s not slowing down. At first, like many new things, people thought it was a fad. It has since been following the 'adopter curve', meaning that there are a few categories of adopters: innovators, early adopters, early majority, late majority, and laggards. The general consensus is that we are still in the early majority category. Many companies, especially brands, have gone past realizing the potential of influencers to the point of utilizing them and spending serious marketing dollars on them. But many other brands still haven't committed any portion of their marketing budgets to influencers.
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Calculating ROI for social media marketing can seem like a daunting task. After all, this marketing method is fairly new, and ROI calculations run well only in a dollars and cents world, an idea that sometimes defies social media. To really understand how to calculate your ROI in this space, then, you have to expand the idea of returns.
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According to recent surveys, the average company spends nearly $350 every single day on social media marketing. Worried about numbers like that? Don’t be. Social media advertising doesn’t have to cost your company that much money, but creating a better social ad budget guide for 2022 to help you inform your overall spending is nothing short of a must. What can you do to make it happen? Keep reading.
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