4 Tips to Creating a Social Media Marketing Strategy on a Budget

Last updated: 05-31-2020

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4 Tips to Creating a Social Media Marketing Strategy on a Budget

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4 Tips to Creating a Social Media Marketing Strategy on a Budget
As a business owner, there are some things that you know you need to spend money on to get the best results. 
If you want good employees you're going to have to give them a competitive salary. You can't skimp on office equipment like computers and software if you want people to be able to do their jobs well. 
Marketing is important for businesses of all sizes, and even though your social media marketing strategy is important, you may not have a lot of money to devote to it right now. 
Luckily for you, it's possible to have a robust social media marketing plan without having to break the bank. If you want to reach your goals for social media marketing without having to spend a fortune, be sure to follow these 4 social selling tips. 
1. Target Your Content 
One of the easiest ways to lose a lot of money on social media is to market to people that will never use your products or services. 
Targeting is one of the best features of social media marketing. You can target your content on factors like location, interests, age, gender, and nearly anything else you can think of!
Before you invest time and money into ads or creating content, make sure that you spend time choosing the right target audience. That way you can ensure that your message is reaching the right people . 
2. Know You Can Keep Ad Spend Low
Traditional advertising formats like television, radio, billboards, and print media can cost a lot of money to run. Setting up social media ads will cost money, but you won't need the help of a money lender to afford them.
This is where knowing your target audience can come in handy. Since you'll know exactly who you should be targeting, you won't have to worry about casting a wide net with advertising and spending a lot of money. 
If you're new to social advertising, set up campaigns with a low lifetime budget. Don't worry about daily spend rates. Let the ad run and let the algorithms decide how much to spend. Once you get more data you'll be able to refine your budget. 
3. Focus on the Right Platforms 
Having a robust social media presence doesn't mean that you have to be using every single platform . In fact, some people may argue that the key to social media marketing is to know what platforms you won't perform well on. 
A boutique craft store probably won't find its target audience on LinkedIn and a lawyer doesn't need a Pinterest page or TikTok account . Do research on the kind of audience each platform attracts before you decide to post content on it. 
4. Re-use Old Content
Some people make the mistake of creating great content and only posting it once. Social media moves fast, and your followers may have already forgotten about a popular post you did a few months ago.
Take some time to dive into analytics and see which posts performed the best. Consider reposting some of your old content, or thinking about related topics so you can create new content off of concepts you know resonate with your audience.
Enhance Your Social Media Marketing Strategy
It doesn't have to cost a lot of money to have a great social media marketing strategy. As long as you focus on proper targeting and are on the right platforms, you're on the right track for social selling success!
We have a lot of helpful posts on social media and marketing on our site. Be sure to browse our content so you can learn more about how to improve your strategy. Visit the Social Media and Influencer Marketing sections of the Bootstrap Business Blog to learn how to create a social media marketing strategy on a budget that gets real results!


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