Social Media: Prioritizing your Business’s Social Media Budget
Posted by: The Social Customer on: February 11, 2011
- In: Social media
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How Much Should you be Spending on your Social Media Campaigns?
Below is a great slideshare presentation from the analysts at Altimeter, a research based consulting firm. They interviewed 140 different corporate strategists. It breaks down the different types of campaigns into three groups. Keep in mind the research is based off of corporations, so with some easy ratio converting, you can break it down and apply it to your competitive landscape.
Novice- average budget of $66,000 for experimenting and testing a campaign; average team consisting of 3 individuals
Intermediate- average budget of $1,000,000 that focuses on community building, optimizing multiple online tools, and scaling; average team consisting of 8 individuals.
Advanced- average budget of $1,300,000 that includes all the same focuses as the intermediate group, but includes cross functional teams; average team consisting of 20 individuals.
This is a perfect way for you to valuate your current , or future campaign.
