Avoiding the Social Media Money Pit

Now, more than ever, social media continues to evolve on a daily basis. As a result, social media has revolutionized the way businesses connect with their target audiences. It offers a way for real-time engagement, brand building, customer support, and lead generation. The vast user base on platforms like Facebook, Instagram, Twitter, LinkedIn, TikTok, and more provides businesses with unparalleled opportunities to reach and interact with potential customers. Social media is a vital tool today to both connect your business with its clients and reflect authenticity.

The Struggles of Social Media for Small Businesses

However, social media as a marketing tool can become a rabbit hole for your business’s profitability if you let it. Because social media is an ever-changing tool, small business owners can find it difficult to use social media to its full potential. Drew from Escape Plan Marketing and social media expert Michael Aldea breaks down the pitfalls for small business owners when they try to use and create social media content.

Specifically, many small businesses struggle with using social media efficiently and effectively for the following reasons:

1. Complexity: Social media is constantly evolving. New platforms, features, algorithms, and trends rapidly change. Staying up-to-date and understanding how to use these changes can be challenging.
2. Time-Consumption: Managing social media accounts requires a significant investment of time. Creating and coordinating content, responding to comments and messages, and analyzing performance metrics demand ongoing attention.
3. Content Woes: Businesses must consistently create engaging and relevant content. Deciding what to post, the time of posts, and how frequently to post can be perplexing.

One Big Problem: The Cost Dilemma

Realistically, every small business has expenses. In order to remain profitable, small business owners must do a return on investment (ROI) analysis of their social media marketing. Business owners must consider if they should simply do their own social media management or begin to outsource social media to freelancers and/or agencies. Every level of social media marketing comes with its own issues:

1. DIY (Do It Yourself): While this approach may seem cost-effective initially, it can become time-consuming and may not yield optimal results due to lack of expertise. You may actually lose profitability because you are spending time on social media that could be better spent on another aspect of your business.
2. Freelancers: Hiring freelancers offers specialized skills without the long-term commitment of hiring full-time staff. However, finding trustworthy freelancers can be a challenge. Reliability means everything when trying to post quality and consistent content.
3. Agencies: Some full-scale marketing agencies provide comprehensive services but some can be expensive, particularly for smaller businesses.

Warning: Hidden Fees

Other hidden costs for social media management may include tools for scheduling, analytics, and advertising budgets to boost visibility. Check out our previous episode of Marketing Rocketfuel in which we discuss the various tools that social media coordinators purchase. At Rocketfuel Social, costs are not hidden from our clients.

If DIY, freelancers, and full-scale marketing agencies all have their own problems and high costs, then what is the solution?

The Solution: Outsourcing Social Media Management

Outsourcing, a great solution for social media management strikes a balance between DIY and hiring a full-blown marketing agency. This approach offers several benefits:

1. Cost-Effective: Outsourcing can be more affordable than hiring an agency. You can choose the level of service that fits your budget and needs.
2. Expert Knowledge: Outsourcing to professionals with expertise in social media strategies, content creation, and analytics ensures an effective online presence.
3. Time-Saving: By delegating social media tasks, you free up time to focus on core business activities.
4. Customization: By outsourcing your social media, your social media marketing firm can tailor your posts to your business’s goals and target audience.
5. Scalability: You can adjust how much you outsource social media services as your business grows. 
6. Consistency: Professionals can maintain a consistent posting schedule and ensure high-quality content.
7. Performance Tracking: Outsourcing often comes with analytics and performance tracking, allowing you to measure the impact of your social media efforts.

Unlike other agencies, Drew’s company, Rocketfuel Social, has various levels of social media marketing management services that are affordable for many small business owners.

In conclusion, social media’s significance for businesses is undeniable, but navigating its complexities can be challenging. Outsourcing social media management offers a viable solution that balances cost-effectiveness, expertise, and time-saving benefits, helping businesses achieve an online presence and engage with their audience effectively.

Action Tip: Do a Social Media Check-Up

For starters, find out how your social media presence measures up. Ask yourself the following:

1. Do I consistently post quality content?
2. Is the content something someone other than my mom would watch?
3. Does it serve me or serve the people I am trying to reach?
4. Am I posting my weekly specials/sales or community events my business is involved in? Behind-the-scenes videos?
5. What will make someone continue watching my posts for enjoyment and possibly cause them to use my business?

Although change is scary, using a critical eye on your social media marketing will change your marketing plan for the better!