Using Social Media

Using Social Media

Using Social Media for $500

Social media campaigns are attractive for two key reasons – cost effectiveness and laser-sharp customer targeting.

In essence, each cent you spend will go to potential customers who are interested in your brand. No wastage. No big bill production costs. No huge spend.

So, what will $500 get you?

– On Facebook: Facebook is the most effective social media tool to engage your business with prospects. One new like will set you back between 20c and 40c, which in comparison to traditional media is significantly cheaper. Importantly, your rate of spend will vary depending on the size of reach. For example, a page with 100 likes may struggle to spend $5 per day, whereas a page with 1000 likes may spend $15 per day, but with significantly better results.

– On Twitter: Twitter charges on a cost per engagement (CPE), so you only pay when someone clicks, retweets, replies to or ‘favourites’ your promoted Tweet. Costing is usually between 75c and $2.50 per click. If you are promoting your whole account, Twitter will feature it on ‘Who to Follow’ more or less often depending on how much you bid. The average currently is $2.50-$4.00 per follower.

– On Instagram: Instagram introduced advertising in the United States in late 2013 and is expected to debut in Australia in the coming months. Working similarly to Facebook, ads will target the most relevant based on Instagram and Facebook activity. Watch this space! This is predicted to be hot in 2014. Based on these numbers, $500 will last between six and 14 weeks and result in 125 to 2500 clicks, impressions, retweets, replies, favourites, likes or followers, although the average is in the lower half.

Interested in joining our team? Why not apply today? 

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Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.

The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.

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