Has a media partner ever brought you information on a great new digital tool that seems like it will be perfect to reach your target audience, but it's $3,000 minimum spend? So, what's the deal with minimums?
There are definitely instances where not spending enough on a marketing tactic is a bad thing, but sometimes media partners (agencies, TV , radio and newspaper groups) ask for minimums because of their own profitability metrics. When you think about what goes into running your marketing and advertising, there are costs beyond just the price creating and placing content and/or ads. Planning, researching, writing, copy editing, proof-reading and image selection are just a few of the things that need to be done.
If you're a business owner who enjoys doing this, GREAT! If you don't have enough time to run to the bathroom during the day, taking on content and ad posting might not be the best thing for your sanity. It's a good rule of thumb to expect that about half of the amount of money you're spending with a large media organization is going for ad fees to platforms like Facebook or YouTube, and the rest is for the infrastructure to create the ads and work with you. You can ask your reps what this breakdown is, and if you don't like the answer there can be a happier medium.
Here are some strategies to get help with content creation on social without breaking the bank:
- Find a writer who creates posts for you to edit. This gives you something to react to vs. having to start from scratch. As you continue to work together the process should get easier.
- Post finished content on platforms yourself. You stay in control of the ad budget and can see the metrics first hand.
- Don't boil the ocean. Start with one platform and do it well - then move on as you have bandwidth or more budget to allocate to outreach
Lastly, look at the metrics. Platform dashboards make understanding results easier every day. Do more of what's working to engage your audience and less of what's not. This is simple advice, but surprisingly valuable! Customers will tell you what's resonating through meaningful metrics like email sign-ups and shares.
Coming soon...More on tracking what matters vs. the marketing distraction of 'vanity metrics'...See you there!
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