These are the 6 components you should include in your social media budget

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Now yes! After presenting you with the mathematical part of the explanation, below we present the main components that you should include in your Social Media Marketing budget.

Key Components of a Social Media Marketing Budget1. Content creation
It sounds pretty trite, we know, but content is and will remain king and should therefore take up a significant portion of your budget.

Many advertisers spend up to half of their budget on content creation alone, so here's a breakdown of the budget items you could include:

Images and photography: Never underestimate the importance of quality visuals. That’s why it’s recommended to hire professional illustrators and photographers. If you’re on a budget, you can consider these 20 free image banks recommended by Hootsuite.
Video: The cost of video production can vary, depending on a number of factors ranging from the equipment used to the content editors. For recordings that require more production, directors, producers, stylists, and even those who look for filming locations, among other personnel, must be hired.
Talent: includes everything from actors, models and extras to influencers .
Production costs: considers costs related to production such as travel, transportation, food design directors managers email list expenses and location rentals, among others.
Creative writing: Writers charge by the number of words per hour. This guide from the Editorial Freelancers Association can give you an idea of ​​approximate rates. You may also need a quote for a proofreader or someone to check your facts.
Translator: If your brand is global or you serve clients in different languages, be sure to budget for a translator, they usually charge by the hour.
2. Programs and tools
For your campaign to be effective, your Social Media budget must consider the following tools and platforms:

SEO and keyword research: Use Google AdWords to research and target keywords. You can also use it to inform your social content strategy.
Content hosting: Your websites, microsites, and landing pages need to be hosted. Some content hosting providers include domain names. If they don't, you need to purchase that as well.
Editing tools: Consider programs like Adobe Creative Cloud for in-house work that requires, for example, image editing.
Project management system: Platforms like Trello, Basecamp, Wrike can help you improve project management and production.
Social Media Management Platform: Platforms like Hootsuite will save you time when scheduling your content.
Marketing Automation: Use tools like Marketo and MailChimp.
Analytics Tools: Tools like Hootsuite Analytics measure the impact of your social media campaigns.