Making significant cuts to a budget isn’t easy, especially when you may have to make some hard decisions that will impact the future of your employees and company. However, sometimes things don’t go as planned, and businesses have to compensate for lost revenue. To cut costs on your social media marketing team without sacrificing your business, follow these tips.
1. Look for Lower Cost Alternatives for Customer Service
Customer service is a valuable aspect of customer relations, but some simple tasks can be given to an automated messaging program. For example, a Facebook bot can reduce staff workload by delivering an automated message anytime someone contacts your business through Facebook Message. Plus, messenger bots can answer questions at any time of the day while providing essential information and convenience to your customers. Messenger bots don’t replace your workers; they just keep them focused on other things like increasing engagement.
2. Increase Engagement Via Influencers
Keeping a high engagement rate on your social media platform is one of the most important things you can do to ensure your company gets noticed. The only problem is finding ways to maintain engagement without costing your company an arm and a leg. Influencer marketing is often an inexpensive yet effective way to receive more reach. Don’t seek out those accounts with 1 million followers because they’re likely out of your reach. Instead, find micro-influencers (less than 50K followers) with high engagement rates and interest in your products. You might also want to consider some new and improved use-a-celebrity marketing tactics. There are several types of brand ambassador programs that can help you build the face of your brand and make it more relatable to your audience. However, if you are on Twitter and struggling to get your target audience, then you may visit Twesocial and read the review of Twesocial to get your target growth.
3. Cut All Ineffective Campaigns and Keywords
A low-performing campaign can cost your business thousands if it isn’t pulled fast enough. However, some social media teams may keep a campaign going for longer than necessary because they received some traction but not enough to recuperate costs. Instead of wishing for more engagement, study your analytics against popular campaigns and figure out what worked and what didn’t. It’s possible you could bring life back into a campaign, but that ship has likely sailed. Remove all keywords that belong to a failed campaign and start again.
4. Repurpose Old Content
Did you know it’s possible to make more money with a single social media post than 100 new pieces of content? Some content creators make the bulk of their money per year on one piece of content but continue to update it every month. For example, Create and Go posts a monthly blog post called “Income Report,” in which they show their viewers how much they make blogging. Why? Because it entices frequent readers to try out blogging for themselves. Since Create and Go create blog-focus content, it only benefits them to publish their wealth.
5. Cancel In-Person Events and Replace With Video Conferences
In-person meetings cost more money than you initially think. After all, aren’t you just asking a client to stop by for a chat? It’s not always so simple. Depending on the client, you may want to roll out the red carpet and offer a free lunch with your seminar. Not only does it cost a significant amount of money to cater frequently, but those meetings could take up too much of your time. Instead, suggest video-conferencing that needs to end at a non-negotiable time. As another positive, you won’t lose money on food and drink if the client cancels at the last minute.
6. Take Care of Existing Clients Before Branching Out
In the process of cutting costs, you may start to think that the reason your profits are so low is that you haven’t taken on enough clients. While that’s true in retrospect, it won’t completely solve your problem if you focus only on the new clients and neglect existing customers. Ensure that your existing clients are taken care of by reaching out to them via a phone call or video message. Your current clients will feel like they’ve taken care of and will likely use your services in the future. Losing your existing customers could cost you new ones through bad reviews.
