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.
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.
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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.