Social Media and Marketing Budgets: How Much of the Pie?

[tweetmeme source=”helpmerhonda11″ only_single=false]

Any financial planner worth her salt will suggest an “asset allocation”,  taking into account a client’s personal goals, timeframe, and risk tolerance.

What about marketing plans?  What percentage should go to social media, compared to promotion, direct mail (both online and snail mail), Google Adwords, PR, print, etc.?  How should this change based on business stage, size, type of business?

We know social media is getting a growing piece of the pie.  While the media part is free, how you accomplish it is not.  You will either do it yourself (and time = money), or outsource.  And if outsourcing, how to budget for it?

I’d love business owners and marketing types to share the percentage allocations that get the biggest bang for the buck, for various types of business.  Any rules of thumb?

Advertisements

About Rhonda Hurwitz

Rhonda Hurwitz is a content strategist and marketing consultant who helps mid-sized businesses develop more effective online strategies. @rhondahurwitz on Twitter, and on Forbes.com: http://blogs.forbes.com/people/rhondahurwitz/
This entry was posted in marketing, small business, social media, social media budget and tagged . Bookmark the permalink.

One Response to Social Media and Marketing Budgets: How Much of the Pie?

  1. barbrak says:

    I am asked this question all the time. Especially from small and medium businesses smart enough to know social media is important but not sure how to start. As you stated there is no easy or boilerplate answer. Dare I say, just like traditional marketing…..Would love to hear what you find out!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s