Seven social media marketing expenses to consider.
Many business people believe that social media marketing is "free." This is attributable to the fact that social media platforms, like Facebook and Twitter, cost little or nothing to participants. Additionally, smaller businesses can afford to use social media to expand their reach cost effectively. What larger businesses miss is that smaller cash-constrained firms are substituting their own personal time and creativity for other resources.
7 Social Media Marketing Expenses to Consider
Since social media marketing in some form is now part of most marketers' plans, it's critical to gauge its cost so that you can compare it to other options. Here are seven social media costs to consider including in your marketing budget:
5 Social Media Marketing Metrics to Monitor
As with any marketing program, tracking your social media marketing results is important, although many marketers have a hard time tracking hard dollar returns from these efforts. Here's a starting point for measuring your program and related costs.
For many marketers, the reality is that, if your customers and competitors are on social media platforms, you need to be there or your business will suffer. To do so effectively for your company, realistically assess your results by tracking costs and the related sales to determine where you should be investing.
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Heidi Cohen is the President of Riverside Marketing Strategies, an interactive marketing consultancy. She has over 20 years' experience helping clients increase profitability by developing innovative marketing programs to acquire and retain customers based on solid analytics. Clients include New York Times Digital, AccuWeather.com, CheapTickets, and the UJA. Additionally, Riverside Marketing Strategies has worked with numerous other online content/media companies and e-tailers.
Prior to starting Riverside Marketing Strategies, Heidi held a number of senior-level marketing positions at The Economist, the Bookspan/Doubleday Direct division of Bertelsmann, and Citibank.
Heidi is also a popular speaker on current industry topics.
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August 21, 2014