Social Media and Marketing Budgets

26 May

Business owners and promoters alike can generally agree on a few key things:

    1. Marketing and advertising are essential to any successful endeavor
    2. Budgets are tight

So naturally, many business owners/promoters are intrigued by social media marketing:

    1. It’s free!
    2. Many people that they are trying to reach are using social media

The caveat is that social media can be daunting, intimidating and certainly more time consuming than many busy business owners could imagine.

Many businesses run well thought-out, strategic and carefully executed marketing campaigns. Usually considered a worthy and necessary investment.

However, when it comes to running successful social media campaigns, the investment in cultivating an effective campaign, seems to take a back seat.

Maybe it’s because social media is free, or maybe its because some business owners are still struggling to understand it, after all its not always tangible (although there are some great tools being developed that are starting to help show some SM impact) but neither is advertising for that matter, unless your talking redemption, coupons and SEO, but the tolerance for other mediums outside of social media seems to be much higher when it comes to performance and time invested?

What do you think?

Can the value of social media be articulated and communicated?
Can social media show a ROI?
Is social media a player in Marketing budgets?
When it comes to companies investing their resources, what are some of social media’s top challenges?


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