Today, we’re talking about… How much to spend on social media marketing?
NB: This is an article from Tambourine
It’s quite the Dilemma.
A recent Netflix documentary shined a light on the many ways social media platforms prey on the behaviors of their users, which got users talking, which got advertisers talking. And here we are.
The other side of the Dilemma.
The truth is users aren’t the only victims of social media platforms. Advertisers, too, have fallen victim to the ever expanding costs of managing and maintaining their social media marketing efforts. With every new platform hoteliers embrace comes a host of associated marketing costs.
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Think about it?
The cost to manage your reputation. The cost of guest response and customer service. The cost to advertise. The cost to produce content. Multiply that cost by three or four channels and advertisers can quickly find themselves upside down, spending more on social media marketing than any other channel in their marketing arsenal. And while that investment may pay off in certain verticals like retail, it’s not been true for hospitality.
Rising costs and diminishing returns
If recent events have taught hoteliers anything, it’s that you’ve got to trim the fat. And social media marketing programs have become exceptionally fatty. For example, it’s not uncommon for a social media program to include things like 24/7 real-time guest response and engagement, daily content publishing, and drone photography. In some hotel organizations, it’s easier to get a social media shoot funded than it is to get a wedding venue photo shoot funded. Shouldn’t priority be given to the programs that drive the highest revenue?
Social media marketing budgets are raising eyebrows.
In recent months, hoteliers have been forced to go through their hotel marketing budgets with a fine tooth comb, lining up their marketing channels in order of highest performing and lowest cost. And no surprise here—social media isn’t very high on the list.
Budget for key revenue drivers.
Hotel marketers are blessed with a myriad of marketing channels that show tangible and often impressive return on investment. Sadly, outside of robust remarketing campaigns, social media marketing still isn’t one of those channels and ROI obsessed hotel marketers are taking notice, focusing on the channels that continuously put up strong numbers. Whatever’s left, well, that’s what they budget for social media.
A pragmatic approach to social media marketing.
Nobody’s saying delete your channels. Well, the Netflix documentary might be saying that. But now more than ever, hoteliers need to ask themselves the tough questions like: How do we create a practical approach to content? How do we maintain a brand standard without having to do expensive photo and video shoots? How do we post less and still be relevant?
Flash back!
How much is your hotel budgeting for social media? What percentage is social media marketing of your overall marketing budget?
