Social Media Comic: Annual Budget Planning

It’s that time again! Time to start thinking about budget allocations for next year, and if your organization has started participating in the social space, you need to confirm that commitment to social media in your budget planning activities. Unfortunately, the difference between how social media budget planning should go and how it usually goes are often worlds apart.

Is your organization planning next year's social media budget? Be sure to spend the time allocating budget and resources!

If you’re getting ready to start budget planning, here are some activities you might consider adding to your social media budget:

  • Headcount – Do you have enough resources allocated to monitor our channels, listen for opportunities, engage with your community, analyze success, and report performance?
  • Tools – While many social media channels offer free accounts, the tools used to monitor and engage effectively often come with a charge. Tools like Radian6, HootSuite Pro and DemandForce (formerly FlowTown) should be included in your annual budget.
  • Training – Social media pros need to keep up with the latest technologies and can learn a lot collaborating with their peers at conferences. Be sure to build some funds into your budget to send your team to training and conferences.
  • Consulting – Sometimes you can’t do it all with the resources you have in house. If you need to bring in an outside professional to help you grow your social platforms or help you analyze success, be sure to set aside funds.
  • Development – Planning to build a mobile app, Facebook app, or social contest? Be sure you have money set aside for developers to create the code you need.

Have suggestions for other elements to consider when creating your annual social media budget? Leave a comment and let me know if I’ve left something out.

 

Comments And Reactions

  1. Great comic :D

  2. Thanks for sharing this! Every corporation that has any since should be creating this budget and this blog will make it easier to advise my clients.

Trackbacks

  1. [...] engaged…through good or bad. Commitment has 3 key components, which are:Budget – Don’t skimp on your social media budget. Think it through and estimate what you’ll need.Resources – Social media should be the [...]

  2. [...] face and voice of your company. Provide them all the tools they need to be successful (including a real social media budget) and then trust that they are communicating with your customers appropriately. Don’t forget [...]

  3. [...] you wouldn’t skimp on those technologies, then why would you skimp on a social media budget? Estimates indicate that companies aren’t even responding to the posts on their Facebook [...]

  4. [...] social media sites out there and trying to participate in all of them may spread your resources and your social media budget way too thin. Instead of trying to be everywhere, take some time to analyze each platform and their [...]

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