Ah, the social media budget. For many social media managers, putting together (and justifying) financial asks is an anxiety-inducing annual event.<\/p>\n
However, budget time is also an important chance to prove the value of your work. Creating your budget highlights the scope of your ambitions for the year ahead \u2013 and should also highlight the return on investment from the budget invested the previous year.<\/p>\n
If you\u2019re feeling stressed over what you\u2019re asked to accomplish with your budget for social media, know you\u2019re not alone.<\/p>\n
Key Takeaways<\/h3>\n\n- Your social media budget should include more than just ads.<\/strong> Remember to factor in content creation, tools, and even influencer partnerships to cover a well-rounded strategy.<\/li>\n
- Stay flexible<\/strong>. Leave room in your budget to adapt to trends. Social media is fast-moving, and you\u2019ll want the flexibility to pivot when necessary.<\/li>\n
- Don\u2019t forget about tools<\/strong>.\u00a0 Social media management and AI tools can help streamline your efforts and boost productivity. They\u2019re an investment that pays off in efficiency, so make sure to budget for them.<\/li>\n<\/ol>\n<\/div>\n<\/div>\n
What is a social media budget?<\/span><\/h2>\nA social media budget is a document that specifies how much you plan to spend on social media over a specific time. It\u2019s usually annual, but could also be broken down by month, by quarter, or even for a specific campaign.<\/p>\n
Budget information is typically presented in a simple spreadsheet, but it\u2019s not uncommon to see social media budgets in project management tools. Whatever tool you use, make sure that the data is clearly presented and easy to understand. It should allow you to track expenses over the course of the year to help you analyze where you\u2019re spending money and measure your return on investment<\/a>.<\/p>\nWhat expenses should your social media budget include?<\/span><\/h2>\nYour budget for social media is not just the amount you spend on paid ads (although that may be a significant line item!). Here are all the factors to consider when planning your budget.<\/p>\n
Content creation<\/h3>\nContent is and always will be king. Many social marketers spend more than half of their social media campaign budget on content creation.<\/p>\n
Here are some line items you might want to include in this budget section:<\/p>\n
Costs will vary significantly depending on how custom you want your project to be.<\/p>\n
For example, you can get started with photos and graphics from a free stock photography site<\/a>, in which case you can budget $0 for photos. However, if you want a more custom approach, or you want to show off your specific products, you\u2019ll need to hire a photographer.<\/p>\nLikewise, your video production costs will vary significantly depending on whether you shoot quick Reels from your phone or hire an agency.<\/p>\n
This is one area where AI tools<\/a> can have a significant impact on your social media budget. They can\u2019t take over your content creation tasks completely, but they can help speed up content creation tasks and boost your team\u2019s creativity.<\/p>\nIf you haven\u2019t tried AI for content creation yet, we suggest doing so before planning your next content creation budget. Hootsuite\u2019s free AI content creation tools<\/a> can help you understand the potential impact of AI on your content budget.<\/p>\nKeep in mind that you do not need to create content for every single social platform. (Although, if you want to, tweaking content for various platforms is one task you can assign to AI.) Brands are focusing their social budget on the platforms where they see the best ROI, and you should too.<\/p>\n![\"graph](\"https:\/\/i0.wp.com\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/image1-620x473.png?resize=620%2C473&ssl=1\")
\n<\/picture>\n<\/figure>\nSource: Hootsuite Social Trends Report <\/a><\/em><\/p>\nSocial advertising<\/h3>\nWhen planning your social media ads<\/a> budget, remember that the goal is not always (or maybe not ever) an immediate sales conversion. Social ads bring people into the top of your sales funnel so you can convert them to customers through a combination of organic and paid future posts.<\/p>\n![\"survey](\"https:\/\/i0.wp.com\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/image3-620x167.png?resize=620%2C167&ssl=1\")
\n<\/picture>\n<\/figure>\nSource: Hootsuite Social Media Consumer Report<\/a><\/em><\/p>\nFor this reason, social ads are a valuable budget line item for many businesses. If you haven\u2019t yet tried them, it\u2019s worth experimenting to see how they impact your results.<\/p>\n
We recommend starting small and scaling vs. budgeting thousands of dollars for paid campaigns when you\u2019re not fully sure of what works and what doesn\u2019t.<\/p>\n
To get you started, here are the minimum spend amounts required to run a campaign on each of the major social networks. The minimum spend won\u2019t get you access to all advertising options or a lot of exposure, but it does give you a sense of how little it can take to get started.<\/p>\n
\n- Facebook: $1<\/a> per day<\/li>\n
- Instagram: $5<\/a> over 6 days<\/li>\n
- TikTok: $20<\/a>\/day for ad groups or $50\/day for campaigns<\/li>\n
- LinkedIn: $10<\/a> per day<\/li>\n
- Pinterest: $0.10<\/a> per click<\/li>\n
- X (Twitter): No <\/a>minimum spend<\/li>\n
- Snapchat: $5<\/a> per day<\/li>\n<\/ul>\n
To calculate how much you should spend on your next Facebook ad campaign based on your revenue goals, try our free Facebook Ads social media budget calculator<\/strong><\/a>.<\/p>\nPro tip:<\/strong> For more tips and insights on combining paid and organic, read Paid vs. Organic Social Media: How to Integrate Both into Your Strategy<\/a>.<\/p>\nSoftware and tools<\/h3>\nTo run effective campaigns on social media, you need a tech stack. A social media management dashboard is a must for anyone running campaigns on more than one channel. Hootsuite plans<\/a> start at $99\/month.<\/p>\nBeyond that, there are a LOT of options for tool categories that can make your life easier and improve results.<\/p>\n
Costs for these tools range from free to hundreds (or even thousands) of dollars per month. If you\u2019re adding new paid tools to your budget, include a cost analysis to show how the tool will pay for itself. Increased productivity is a great place to start.<\/p>\n
Don\u2019t go overboard here. Look for tool categories that align with your most important strategic social goals.<\/p>\n
Agencies and contractors<\/h3>\nIt can be tempting to tackle everything yourself, but that\u2019s often not realistic. Whether you\u2019re short on specific expertise or simply don\u2019t have the person power to implement all your strategies, agencies and freelancers can be a good way of expanding your team without additional headcount.<\/p>\n
Agencies and freelancers also allow the flexibility to ramp up when needed without committing ongoing resources to a staff position. Since you hire for specific skills, you can save time on training and onboarding.<\/p>\n
How much should you budget for freelancers and agencies? A good guide to freelancer rates in 2024 can be found on the Editorial Freelancers Association<\/a> website:<\/p>\n\n- Graphic design: $47.50\u2013$85\/hr<\/li>\n
- Copywriting: $62.50\u2013$100\/hr<\/li>\n
- Copy editing: $50\u201360\/hr<\/li>\n
- Translation: $50\u201370\/hr<\/li>\n<\/ul>\n
Influencer marketing<\/h3>\nWorking with influencers<\/a> (aka content creators) is an easy way to expand the reach of your social media campaigns.<\/p>\nHow much budget you allocate to influencer marketing will depend on the type of partnership with the influencer, the size of their following, and the campaign you\u2019re running (format, channels, goals, etc.).<\/p>\n
Influencer rates vary<\/a>, but in general the minimum to work with a nano-influencer (up to 10,000 followers) is $2\u201325, while the minimum to work with a mega-influencer (1,000,000+ followers) starts at $1,200 and goes way up from there.<\/p>\nSome nano- or micro-influencers<\/a> might also be willing to use an affiliate commission structure.<\/a><\/p>\nDon\u2019t forget to include budget for boosting influencer posts<\/a>.<\/p>\nContests and giveaways<\/h3>\nSocial media contests<\/a> and giveaways can be an effective way to build brand awareness, increase engagement, and grow your following. They can also help you bring in a library of user-generated content<\/a>. But you need to dedicate some budget to the rewards you\u2019ll offer for participation.<\/p>\nThe best case scenario here is to offer your own products or services as a prize. It limits your budget commitments while also exposing people to your offering and potentially getting additional social content after the prize is rewarded.<\/p>\n
Partnering with another brand can provide a way to offer a larger prize without a larger budget expense, like Porter Airlines and Visit the USA did here:<\/p>\n
\nWhen budgeting for giveaways, don\u2019t forget to include rewards for internal contests and rewards. Employee advocacy<\/a> is a budget-friendly way to dramatically increase your social media reach. A little healthy competition (or random giveaways) can help increase uptake in your advocacy program.<\/p>\nTraining and development<\/h3>\nSocial media changes fast, and your team\u2019s roles can change and grow<\/a> equally quickly. And your team is likely figuring a lot of things out on the fly. Colleges and universities are just now starting to offer social media training, and most social media managers have no formal education<\/a> in the field.<\/p>\nIf your team members are ready and willing to invest their time in developing new skills, it\u2019s a good idea to enable that through your social media budget. You\u2019ll be the beneficiary of everything they learn.<\/p>\n
Depending on your team\u2019s skill levels and campaign needs, these are a few training options<\/a> you should consider including in your social media budget:<\/p>\n\n- Hootsuite Academy<\/a>. A catalog of certification courses taught by industry pros and tailored for businesses. (Cost: $99 to $999)<\/li>\n
- LinkedIn Learning<\/a>. A library of more than 18,000 expert-led courses with the ability to create custom learning paths for employees. (Cost: $379.88<\/a> per seat\/year for small teams.)<\/li>\n<\/ul>\n
You could also consider allocating an education budget to each employee per year so that they can select the training that makes the most sense to them.<\/p>\n
Social strategy and management<\/h3>\nSocial media management is not all about execution.<\/p>\n
Beyond the obvious tasks of creating and scheduling social posts, your social team engages with social fans, provides social customer service<\/a>, and manages your social community. They use social listening<\/a> to learn about your target audience and alert you to potential threats <\/a>and opportunities. They create a social media strategy<\/a> and \u2014 yes \u2014 manage social budgets.<\/p>\nAll of this requires an experienced social media manager<\/a>.<\/p>\nWhen building this role into your budget, consider that the average salary<\/a> for an in-house social marketer is US$72,133. A freelance social marketer earns $72,929 on average, and an agency social marketer earns an average of $83,328.<\/p>\n\u00a0<\/h3>\n5 tips to get your social media budget approved<\/span><\/h2>\n1. Align your social KPIs with business goals<\/h3>\nIt\u2019s all well and good to say that you want to grow your follower count or increase engagement, and that you need to spend money to do it.<\/p>\n
But how do those goals relate to the larger business strategy? It\u2019s much easier for stakeholders to approve your budget request if they see that your social goals align with business objectives as a whole. Especially since those stakeholders might not have a great understanding of how social works.<\/p>\n
Demonstrate that you follow the SMART goal-setting framework<\/a>. This ensures goals are both relevant and achievable \u2013 important factors in any budget negotiation.<\/p>\nMake sure to include relevant KPIs <\/a>in your budget request. These show that you\u2019ve intentionally aligned your social goals to the overall business plan.<\/p>\n2. Understand your performance and ROI<\/h3>\nThe old saying goes that you have to spend money to make money. Showing that your social team is a profit center rather than a cost center makes it easier to justify further investment in your work.<\/p>\n
When looking at your social ROI<\/a>, be sure to consider factors beyond straight sales conversions. Social is often about growing brand awareness and loyalty, thereby increasing lifetime customer value.<\/p>\nIf you\u2019re struggling to understand and achieve ROI, embrace a performance marketing strategy<\/a>.<\/p>\n3. Share case studies and success stories<\/h3>\nBe prepared to highlight your biggest wins. Use your analytics tools to find campaigns that exceeded expectations. Look for spikes in conversions or revenue and track them back to specific content or campaigns.<\/p>\n
Think creatively here. Successes to highlight could include new partnerships formed, new influencers identified, or shares from major social media profiles.<\/p>\n
4. Include a competitor analysis<\/h3>\nUnderstanding how your brand\u2019s social efforts compare to those of competitors is important for budget decision-makers.<\/p>\n
First, a competitive analysis <\/a>shows how much effort your competitors are putting into the various social platforms. It also allows you to highlight the kinds of content they\u2019re creating. If they\u2019re posting at levels or standards you just can\u2019t match, you may be able to justify greater budget for content and campaign creation.<\/p>\nA good competitor analysis also includes the results your competitors are seeing from their social efforts. This can also help to rationalize the additional resources you\u2019re asking for.<\/p>\n
All of this also shows decision-makers that you\u2019ve done your homework. You\u2019re not just pulling numbers out of thin air \u2013 you have studied the competition and understand what it takes to compete in your field.<\/p>\n
5. Be specific \u2014\u00a0but leave some room for unexpected expenses<\/h3>\nAn effective social team is nimble. Leave some room in your budget to respond to social trends.<\/p>\n
For example, it\u2019s a good idea to ask for an overall social ads budget rather than to lock budget into specific platforms. You can include amounts per platform as a guideline, but ensure your team has the ability to reallocate budget<\/a> on the fly based on real-time performance.<\/p>\nAverage social media budget in 2024<\/span><\/h2>\nGeneral marketing budget<\/h3>\nLet\u2019s start by looking at the average marketing budget as a whole. Gartner\u2019s 2024 CMO Spend Survey<\/a> found that marketing budgets as a whole fell 15% this year to 8.4% for B2B brands, 7.9% for those with an even mix of B2B and B2C, and just 5.7% for B2C brands.<\/p>\n![\"\"](\"https:\/\/i0.wp.com\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/word-image-493027-3.png?resize=977%2C423&ssl=1\")
\n<\/picture>\n<\/figure>\nSource: Gartner<\/a><\/em><\/p>\nSo for a company with $1 million in total revenue, the total marketing budget would be as follows:<\/p>\n
\n- B2B: $84,000<\/li>\n
- B2C: $57,000<\/li>\n
- Even mix: $79,000<\/li>\n<\/ul>\n
Social media marketing budget<\/h3>\nCMO Survey<\/a> found that in Spring 2024, 11% of the marketing budget on average was dedicated to social media. However, this also varied between B2B and B2C brands.<\/p>\n![\"Economic](\"https:\/\/i0.wp.com\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/image2.png?resize=300%2C165&ssl=1\")
\n<\/picture>\n<\/figure>\nSource: CMO Survey<\/a><\/em><\/p>\nLet\u2019s apply that math to the numbers for the total marketing budget above, again assuming $1 million in total revenues<\/p>\n
What is a social media budget?<\/span><\/h2>\nA social media budget is a document that specifies how much you plan to spend on social media over a specific time. It\u2019s usually annual, but could also be broken down by month, by quarter, or even for a specific campaign.<\/p>\n
Budget information is typically presented in a simple spreadsheet, but it\u2019s not uncommon to see social media budgets in project management tools. Whatever tool you use, make sure that the data is clearly presented and easy to understand. It should allow you to track expenses over the course of the year to help you analyze where you\u2019re spending money and measure your return on investment<\/a>.<\/p>\nWhat expenses should your social media budget include?<\/span><\/h2>\nYour budget for social media is not just the amount you spend on paid ads (although that may be a significant line item!). Here are all the factors to consider when planning your budget.<\/p>\n
Content creation<\/h3>\nContent is and always will be king. Many social marketers spend more than half of their social media campaign budget on content creation.<\/p>\n
Here are some line items you might want to include in this budget section:<\/p>\n
Costs will vary significantly depending on how custom you want your project to be.<\/p>\n
For example, you can get started with photos and graphics from a free stock photography site<\/a>, in which case you can budget $0 for photos. However, if you want a more custom approach, or you want to show off your specific products, you\u2019ll need to hire a photographer.<\/p>\nLikewise, your video production costs will vary significantly depending on whether you shoot quick Reels from your phone or hire an agency.<\/p>\n
This is one area where AI tools<\/a> can have a significant impact on your social media budget. They can\u2019t take over your content creation tasks completely, but they can help speed up content creation tasks and boost your team\u2019s creativity.<\/p>\nIf you haven\u2019t tried AI for content creation yet, we suggest doing so before planning your next content creation budget. Hootsuite\u2019s free AI content creation tools<\/a> can help you understand the potential impact of AI on your content budget.<\/p>\nKeep in mind that you do not need to create content for every single social platform. (Although, if you want to, tweaking content for various platforms is one task you can assign to AI.) Brands are focusing their social budget on the platforms where they see the best ROI, and you should too.<\/p>\nSource: Hootsuite Social Trends Report <\/a><\/em><\/p>\nSocial advertising<\/h3>\nWhen planning your social media ads<\/a> budget, remember that the goal is not always (or maybe not ever) an immediate sales conversion. Social ads bring people into the top of your sales funnel so you can convert them to customers through a combination of organic and paid future posts.<\/p>\nSource: Hootsuite Social Media Consumer Report<\/a><\/em><\/p>\nFor this reason, social ads are a valuable budget line item for many businesses. If you haven\u2019t yet tried them, it\u2019s worth experimenting to see how they impact your results.<\/p>\n
We recommend starting small and scaling vs. budgeting thousands of dollars for paid campaigns when you\u2019re not fully sure of what works and what doesn\u2019t.<\/p>\n
To get you started, here are the minimum spend amounts required to run a campaign on each of the major social networks. The minimum spend won\u2019t get you access to all advertising options or a lot of exposure, but it does give you a sense of how little it can take to get started.<\/p>\n
\n- Facebook: $1<\/a> per day<\/li>\n
- Instagram: $5<\/a> over 6 days<\/li>\n
- TikTok: $20<\/a>\/day for ad groups or $50\/day for campaigns<\/li>\n
- LinkedIn: $10<\/a> per day<\/li>\n
- Pinterest: $0.10<\/a> per click<\/li>\n
- X (Twitter): No <\/a>minimum spend<\/li>\n
- Snapchat: $5<\/a> per day<\/li>\n<\/ul>\n
To calculate how much you should spend on your next Facebook ad campaign based on your revenue goals, try our free Facebook Ads social media budget calculator<\/strong><\/a>.<\/p>\nPro tip:<\/strong> For more tips and insights on combining paid and organic, read Paid vs. Organic Social Media: How to Integrate Both into Your Strategy<\/a>.<\/p>\nSoftware and tools<\/h3>\nTo run effective campaigns on social media, you need a tech stack. A social media management dashboard is a must for anyone running campaigns on more than one channel. Hootsuite plans<\/a> start at $99\/month.<\/p>\nBeyond that, there are a LOT of options for tool categories that can make your life easier and improve results.<\/p>\n
Costs for these tools range from free to hundreds (or even thousands) of dollars per month. If you\u2019re adding new paid tools to your budget, include a cost analysis to show how the tool will pay for itself. Increased productivity is a great place to start.<\/p>\n
Don\u2019t go overboard here. Look for tool categories that align with your most important strategic social goals.<\/p>\n
Agencies and contractors<\/h3>\nIt can be tempting to tackle everything yourself, but that\u2019s often not realistic. Whether you\u2019re short on specific expertise or simply don\u2019t have the person power to implement all your strategies, agencies and freelancers can be a good way of expanding your team without additional headcount.<\/p>\n
Agencies and freelancers also allow the flexibility to ramp up when needed without committing ongoing resources to a staff position. Since you hire for specific skills, you can save time on training and onboarding.<\/p>\n
How much should you budget for freelancers and agencies? A good guide to freelancer rates in 2024 can be found on the Editorial Freelancers Association<\/a> website:<\/p>\n\n- Graphic design: $47.50\u2013$85\/hr<\/li>\n
- Copywriting: $62.50\u2013$100\/hr<\/li>\n
- Copy editing: $50\u201360\/hr<\/li>\n
- Translation: $50\u201370\/hr<\/li>\n<\/ul>\n
Influencer marketing<\/h3>\nWorking with influencers<\/a> (aka content creators) is an easy way to expand the reach of your social media campaigns.<\/p>\nHow much budget you allocate to influencer marketing will depend on the type of partnership with the influencer, the size of their following, and the campaign you\u2019re running (format, channels, goals, etc.).<\/p>\n
Influencer rates vary<\/a>, but in general the minimum to work with a nano-influencer (up to 10,000 followers) is $2\u201325, while the minimum to work with a mega-influencer (1,000,000+ followers) starts at $1,200 and goes way up from there.<\/p>\nSome nano- or micro-influencers<\/a> might also be willing to use an affiliate commission structure.<\/a><\/p>\nDon\u2019t forget to include budget for boosting influencer posts<\/a>.<\/p>\nContests and giveaways<\/h3>\nSocial media contests<\/a> and giveaways can be an effective way to build brand awareness, increase engagement, and grow your following. They can also help you bring in a library of user-generated content<\/a>. But you need to dedicate some budget to the rewards you\u2019ll offer for participation.<\/p>\nThe best case scenario here is to offer your own products or services as a prize. It limits your budget commitments while also exposing people to your offering and potentially getting additional social content after the prize is rewarded.<\/p>\n
Partnering with another brand can provide a way to offer a larger prize without a larger budget expense, like Porter Airlines and Visit the USA did here:<\/p>\n
\nWhen budgeting for giveaways, don\u2019t forget to include rewards for internal contests and rewards. Employee advocacy<\/a> is a budget-friendly way to dramatically increase your social media reach. A little healthy competition (or random giveaways) can help increase uptake in your advocacy program.<\/p>\nTraining and development<\/h3>\nSocial media changes fast, and your team\u2019s roles can change and grow<\/a> equally quickly. And your team is likely figuring a lot of things out on the fly. Colleges and universities are just now starting to offer social media training, and most social media managers have no formal education<\/a> in the field.<\/p>\nIf your team members are ready and willing to invest their time in developing new skills, it\u2019s a good idea to enable that through your social media budget. You\u2019ll be the beneficiary of everything they learn.<\/p>\n
Depending on your team\u2019s skill levels and campaign needs, these are a few training options<\/a> you should consider including in your social media budget:<\/p>\n\n- Hootsuite Academy<\/a>. A catalog of certification courses taught by industry pros and tailored for businesses. (Cost: $99 to $999)<\/li>\n
- LinkedIn Learning<\/a>. A library of more than 18,000 expert-led courses with the ability to create custom learning paths for employees. (Cost: $379.88<\/a> per seat\/year for small teams.)<\/li>\n<\/ul>\n
You could also consider allocating an education budget to each employee per year so that they can select the training that makes the most sense to them.<\/p>\n
Social strategy and management<\/h3>\nSocial media management is not all about execution.<\/p>\n
Beyond the obvious tasks of creating and scheduling social posts, your social team engages with social fans, provides social customer service<\/a>, and manages your social community. They use social listening<\/a> to learn about your target audience and alert you to potential threats <\/a>and opportunities. They create a social media strategy<\/a> and \u2014 yes \u2014 manage social budgets.<\/p>\nAll of this requires an experienced social media manager<\/a>.<\/p>\nWhen building this role into your budget, consider that the average salary<\/a> for an in-house social marketer is US$72,133. A freelance social marketer earns $72,929 on average, and an agency social marketer earns an average of $83,328.<\/p>\n\u00a0<\/h3>\n5 tips to get your social media budget approved<\/span><\/h2>\n1. Align your social KPIs with business goals<\/h3>\nIt\u2019s all well and good to say that you want to grow your follower count or increase engagement, and that you need to spend money to do it.<\/p>\n
But how do those goals relate to the larger business strategy? It\u2019s much easier for stakeholders to approve your budget request if they see that your social goals align with business objectives as a whole. Especially since those stakeholders might not have a great understanding of how social works.<\/p>\n
Demonstrate that you follow the SMART goal-setting framework<\/a>. This ensures goals are both relevant and achievable \u2013 important factors in any budget negotiation.<\/p>\nMake sure to include relevant KPIs <\/a>in your budget request. These show that you\u2019ve intentionally aligned your social goals to the overall business plan.<\/p>\n2. Understand your performance and ROI<\/h3>\nThe old saying goes that you have to spend money to make money. Showing that your social team is a profit center rather than a cost center makes it easier to justify further investment in your work.<\/p>\n
When looking at your social ROI<\/a>, be sure to consider factors beyond straight sales conversions. Social is often about growing brand awareness and loyalty, thereby increasing lifetime customer value.<\/p>\nIf you\u2019re struggling to understand and achieve ROI, embrace a performance marketing strategy<\/a>.<\/p>\n3. Share case studies and success stories<\/h3>\nBe prepared to highlight your biggest wins. Use your analytics tools to find campaigns that exceeded expectations. Look for spikes in conversions or revenue and track them back to specific content or campaigns.<\/p>\n
Think creatively here. Successes to highlight could include new partnerships formed, new influencers identified, or shares from major social media profiles.<\/p>\n
4. Include a competitor analysis<\/h3>\nUnderstanding how your brand\u2019s social efforts compare to those of competitors is important for budget decision-makers.<\/p>\n
First, a competitive analysis <\/a>shows how much effort your competitors are putting into the various social platforms. It also allows you to highlight the kinds of content they\u2019re creating. If they\u2019re posting at levels or standards you just can\u2019t match, you may be able to justify greater budget for content and campaign creation.<\/p>\nA good competitor analysis also includes the results your competitors are seeing from their social efforts. This can also help to rationalize the additional resources you\u2019re asking for.<\/p>\n
All of this also shows decision-makers that you\u2019ve done your homework. You\u2019re not just pulling numbers out of thin air \u2013 you have studied the competition and understand what it takes to compete in your field.<\/p>\n
5. Be specific \u2014\u00a0but leave some room for unexpected expenses<\/h3>\nAn effective social team is nimble. Leave some room in your budget to respond to social trends.<\/p>\n
For example, it\u2019s a good idea to ask for an overall social ads budget rather than to lock budget into specific platforms. You can include amounts per platform as a guideline, but ensure your team has the ability to reallocate budget<\/a> on the fly based on real-time performance.<\/p>\nAverage social media budget in 2024<\/span><\/h2>\nGeneral marketing budget<\/h3>\nLet\u2019s start by looking at the average marketing budget as a whole. Gartner\u2019s 2024 CMO Spend Survey<\/a> found that marketing budgets as a whole fell 15% this year to 8.4% for B2B brands, 7.9% for those with an even mix of B2B and B2C, and just 5.7% for B2C brands.<\/p>\nSource: Gartner<\/a><\/em><\/p>\nSo for a company with $1 million in total revenue, the total marketing budget would be as follows:<\/p>\n
\n- B2B: $84,000<\/li>\n
- B2C: $57,000<\/li>\n
- Even mix: $79,000<\/li>\n<\/ul>\n
Social media marketing budget<\/h3>\nCMO Survey<\/a> found that in Spring 2024, 11% of the marketing budget on average was dedicated to social media. However, this also varied between B2B and B2C brands.<\/p>\n\n<\/picture>\n<\/figure>\nSource: CMO Survey<\/a><\/em><\/p>\nLet\u2019s apply that math to the numbers for the total marketing budget above, again assuming $1 million in total revenues<\/p>\n
What expenses should your social media budget include?<\/span><\/h2>\nYour budget for social media is not just the amount you spend on paid ads (although that may be a significant line item!). Here are all the factors to consider when planning your budget.<\/p>\n
Content creation<\/h3>\nContent is and always will be king. Many social marketers spend more than half of their social media campaign budget on content creation.<\/p>\n
Here are some line items you might want to include in this budget section:<\/p>\n
Costs will vary significantly depending on how custom you want your project to be.<\/p>\n
For example, you can get started with photos and graphics from a free stock photography site<\/a>, in which case you can budget $0 for photos. However, if you want a more custom approach, or you want to show off your specific products, you\u2019ll need to hire a photographer.<\/p>\nLikewise, your video production costs will vary significantly depending on whether you shoot quick Reels from your phone or hire an agency.<\/p>\n
This is one area where AI tools<\/a> can have a significant impact on your social media budget. They can\u2019t take over your content creation tasks completely, but they can help speed up content creation tasks and boost your team\u2019s creativity.<\/p>\nIf you haven\u2019t tried AI for content creation yet, we suggest doing so before planning your next content creation budget. Hootsuite\u2019s free AI content creation tools<\/a> can help you understand the potential impact of AI on your content budget.<\/p>\nKeep in mind that you do not need to create content for every single social platform. (Although, if you want to, tweaking content for various platforms is one task you can assign to AI.) Brands are focusing their social budget on the platforms where they see the best ROI, and you should too.<\/p>\nSource: Hootsuite Social Trends Report <\/a><\/em><\/p>\nSocial advertising<\/h3>\nWhen planning your social media ads<\/a> budget, remember that the goal is not always (or maybe not ever) an immediate sales conversion. Social ads bring people into the top of your sales funnel so you can convert them to customers through a combination of organic and paid future posts.<\/p>\nSource: Hootsuite Social Media Consumer Report<\/a><\/em><\/p>\nFor this reason, social ads are a valuable budget line item for many businesses. If you haven\u2019t yet tried them, it\u2019s worth experimenting to see how they impact your results.<\/p>\n
We recommend starting small and scaling vs. budgeting thousands of dollars for paid campaigns when you\u2019re not fully sure of what works and what doesn\u2019t.<\/p>\n
To get you started, here are the minimum spend amounts required to run a campaign on each of the major social networks. The minimum spend won\u2019t get you access to all advertising options or a lot of exposure, but it does give you a sense of how little it can take to get started.<\/p>\n
\n- Facebook: $1<\/a> per day<\/li>\n
- Instagram: $5<\/a> over 6 days<\/li>\n
- TikTok: $20<\/a>\/day for ad groups or $50\/day for campaigns<\/li>\n
- LinkedIn: $10<\/a> per day<\/li>\n
- Pinterest: $0.10<\/a> per click<\/li>\n
- X (Twitter): No <\/a>minimum spend<\/li>\n
- Snapchat: $5<\/a> per day<\/li>\n<\/ul>\n
To calculate how much you should spend on your next Facebook ad campaign based on your revenue goals, try our free Facebook Ads social media budget calculator<\/strong><\/a>.<\/p>\nPro tip:<\/strong> For more tips and insights on combining paid and organic, read Paid vs. Organic Social Media: How to Integrate Both into Your Strategy<\/a>.<\/p>\nSoftware and tools<\/h3>\nTo run effective campaigns on social media, you need a tech stack. A social media management dashboard is a must for anyone running campaigns on more than one channel. Hootsuite plans<\/a> start at $99\/month.<\/p>\nBeyond that, there are a LOT of options for tool categories that can make your life easier and improve results.<\/p>\n
Costs for these tools range from free to hundreds (or even thousands) of dollars per month. If you\u2019re adding new paid tools to your budget, include a cost analysis to show how the tool will pay for itself. Increased productivity is a great place to start.<\/p>\n
Don\u2019t go overboard here. Look for tool categories that align with your most important strategic social goals.<\/p>\n
Agencies and contractors<\/h3>\nIt can be tempting to tackle everything yourself, but that\u2019s often not realistic. Whether you\u2019re short on specific expertise or simply don\u2019t have the person power to implement all your strategies, agencies and freelancers can be a good way of expanding your team without additional headcount.<\/p>\n
Agencies and freelancers also allow the flexibility to ramp up when needed without committing ongoing resources to a staff position. Since you hire for specific skills, you can save time on training and onboarding.<\/p>\n
How much should you budget for freelancers and agencies? A good guide to freelancer rates in 2024 can be found on the Editorial Freelancers Association<\/a> website:<\/p>\n\n- Graphic design: $47.50\u2013$85\/hr<\/li>\n
- Copywriting: $62.50\u2013$100\/hr<\/li>\n
- Copy editing: $50\u201360\/hr<\/li>\n
- Translation: $50\u201370\/hr<\/li>\n<\/ul>\n
Influencer marketing<\/h3>\nWorking with influencers<\/a> (aka content creators) is an easy way to expand the reach of your social media campaigns.<\/p>\nHow much budget you allocate to influencer marketing will depend on the type of partnership with the influencer, the size of their following, and the campaign you\u2019re running (format, channels, goals, etc.).<\/p>\n
Influencer rates vary<\/a>, but in general the minimum to work with a nano-influencer (up to 10,000 followers) is $2\u201325, while the minimum to work with a mega-influencer (1,000,000+ followers) starts at $1,200 and goes way up from there.<\/p>\nSome nano- or micro-influencers<\/a> might also be willing to use an affiliate commission structure.<\/a><\/p>\nDon\u2019t forget to include budget for boosting influencer posts<\/a>.<\/p>\nContests and giveaways<\/h3>\nSocial media contests<\/a> and giveaways can be an effective way to build brand awareness, increase engagement, and grow your following. They can also help you bring in a library of user-generated content<\/a>. But you need to dedicate some budget to the rewards you\u2019ll offer for participation.<\/p>\nThe best case scenario here is to offer your own products or services as a prize. It limits your budget commitments while also exposing people to your offering and potentially getting additional social content after the prize is rewarded.<\/p>\n
Partnering with another brand can provide a way to offer a larger prize without a larger budget expense, like Porter Airlines and Visit the USA did here:<\/p>\n
\nWhen budgeting for giveaways, don\u2019t forget to include rewards for internal contests and rewards. Employee advocacy<\/a> is a budget-friendly way to dramatically increase your social media reach. A little healthy competition (or random giveaways) can help increase uptake in your advocacy program.<\/p>\nTraining and development<\/h3>\nSocial media changes fast, and your team\u2019s roles can change and grow<\/a> equally quickly. And your team is likely figuring a lot of things out on the fly. Colleges and universities are just now starting to offer social media training, and most social media managers have no formal education<\/a> in the field.<\/p>\nIf your team members are ready and willing to invest their time in developing new skills, it\u2019s a good idea to enable that through your social media budget. You\u2019ll be the beneficiary of everything they learn.<\/p>\n
Depending on your team\u2019s skill levels and campaign needs, these are a few training options<\/a> you should consider including in your social media budget:<\/p>\n\n- Hootsuite Academy<\/a>. A catalog of certification courses taught by industry pros and tailored for businesses. (Cost: $99 to $999)<\/li>\n
- LinkedIn Learning<\/a>. A library of more than 18,000 expert-led courses with the ability to create custom learning paths for employees. (Cost: $379.88<\/a> per seat\/year for small teams.)<\/li>\n<\/ul>\n
You could also consider allocating an education budget to each employee per year so that they can select the training that makes the most sense to them.<\/p>\n
Social strategy and management<\/h3>\nSocial media management is not all about execution.<\/p>\n
Beyond the obvious tasks of creating and scheduling social posts, your social team engages with social fans, provides social customer service<\/a>, and manages your social community. They use social listening<\/a> to learn about your target audience and alert you to potential threats <\/a>and opportunities. They create a social media strategy<\/a> and \u2014 yes \u2014 manage social budgets.<\/p>\nAll of this requires an experienced social media manager<\/a>.<\/p>\nWhen building this role into your budget, consider that the average salary<\/a> for an in-house social marketer is US$72,133. A freelance social marketer earns $72,929 on average, and an agency social marketer earns an average of $83,328.<\/p>\n\u00a0<\/h3>\n5 tips to get your social media budget approved<\/span><\/h2>\n1. Align your social KPIs with business goals<\/h3>\nIt\u2019s all well and good to say that you want to grow your follower count or increase engagement, and that you need to spend money to do it.<\/p>\n
But how do those goals relate to the larger business strategy? It\u2019s much easier for stakeholders to approve your budget request if they see that your social goals align with business objectives as a whole. Especially since those stakeholders might not have a great understanding of how social works.<\/p>\n
Demonstrate that you follow the SMART goal-setting framework<\/a>. This ensures goals are both relevant and achievable \u2013 important factors in any budget negotiation.<\/p>\nMake sure to include relevant KPIs <\/a>in your budget request. These show that you\u2019ve intentionally aligned your social goals to the overall business plan.<\/p>\n2. Understand your performance and ROI<\/h3>\nThe old saying goes that you have to spend money to make money. Showing that your social team is a profit center rather than a cost center makes it easier to justify further investment in your work.<\/p>\n
When looking at your social ROI<\/a>, be sure to consider factors beyond straight sales conversions. Social is often about growing brand awareness and loyalty, thereby increasing lifetime customer value.<\/p>\nIf you\u2019re struggling to understand and achieve ROI, embrace a performance marketing strategy<\/a>.<\/p>\n3. Share case studies and success stories<\/h3>\nBe prepared to highlight your biggest wins. Use your analytics tools to find campaigns that exceeded expectations. Look for spikes in conversions or revenue and track them back to specific content or campaigns.<\/p>\n
Think creatively here. Successes to highlight could include new partnerships formed, new influencers identified, or shares from major social media profiles.<\/p>\n
4. Include a competitor analysis<\/h3>\nUnderstanding how your brand\u2019s social efforts compare to those of competitors is important for budget decision-makers.<\/p>\n
First, a competitive analysis <\/a>shows how much effort your competitors are putting into the various social platforms. It also allows you to highlight the kinds of content they\u2019re creating. If they\u2019re posting at levels or standards you just can\u2019t match, you may be able to justify greater budget for content and campaign creation.<\/p>\nA good competitor analysis also includes the results your competitors are seeing from their social efforts. This can also help to rationalize the additional resources you\u2019re asking for.<\/p>\n
All of this also shows decision-makers that you\u2019ve done your homework. You\u2019re not just pulling numbers out of thin air \u2013 you have studied the competition and understand what it takes to compete in your field.<\/p>\n
5. Be specific \u2014\u00a0but leave some room for unexpected expenses<\/h3>\nAn effective social team is nimble. Leave some room in your budget to respond to social trends.<\/p>\n
For example, it\u2019s a good idea to ask for an overall social ads budget rather than to lock budget into specific platforms. You can include amounts per platform as a guideline, but ensure your team has the ability to reallocate budget<\/a> on the fly based on real-time performance.<\/p>\nAverage social media budget in 2024<\/span><\/h2>\nGeneral marketing budget<\/h3>\nLet\u2019s start by looking at the average marketing budget as a whole. Gartner\u2019s 2024 CMO Spend Survey<\/a> found that marketing budgets as a whole fell 15% this year to 8.4% for B2B brands, 7.9% for those with an even mix of B2B and B2C, and just 5.7% for B2C brands.<\/p>\nSource: Gartner<\/a><\/em><\/p>\nSo for a company with $1 million in total revenue, the total marketing budget would be as follows:<\/p>\n
\n- B2B: $84,000<\/li>\n
- B2C: $57,000<\/li>\n
- Even mix: $79,000<\/li>\n<\/ul>\n
Social media marketing budget<\/h3>\nCMO Survey<\/a> found that in Spring 2024, 11% of the marketing budget on average was dedicated to social media. However, this also varied between B2B and B2C brands.<\/p>\n\n<\/picture>\n<\/figure>\nSource: CMO Survey<\/a><\/em><\/p>\nLet\u2019s apply that math to the numbers for the total marketing budget above, again assuming $1 million in total revenues<\/p>\n
Content is and always will be king. Many social marketers spend more than half of their social media campaign budget on content creation.<\/p>\n
Here are some line items you might want to include in this budget section:<\/p>\n
Costs will vary significantly depending on how custom you want your project to be.<\/p>\n
For example, you can get started with photos and graphics from a free stock photography site<\/a>, in which case you can budget $0 for photos. However, if you want a more custom approach, or you want to show off your specific products, you\u2019ll need to hire a photographer.<\/p>\n Likewise, your video production costs will vary significantly depending on whether you shoot quick Reels from your phone or hire an agency.<\/p>\n This is one area where AI tools<\/a> can have a significant impact on your social media budget. They can\u2019t take over your content creation tasks completely, but they can help speed up content creation tasks and boost your team\u2019s creativity.<\/p>\n If you haven\u2019t tried AI for content creation yet, we suggest doing so before planning your next content creation budget. Hootsuite\u2019s free AI content creation tools<\/a> can help you understand the potential impact of AI on your content budget.<\/p>\n Keep in mind that you do not need to create content for every single social platform. (Although, if you want to, tweaking content for various platforms is one task you can assign to AI.) Brands are focusing their social budget on the platforms where they see the best ROI, and you should too.<\/p>\n Source: Hootsuite Social Trends Report <\/a><\/em><\/p>\n When planning your social media ads<\/a> budget, remember that the goal is not always (or maybe not ever) an immediate sales conversion. Social ads bring people into the top of your sales funnel so you can convert them to customers through a combination of organic and paid future posts.<\/p>\n Source: Hootsuite Social Media Consumer Report<\/a><\/em><\/p>\n For this reason, social ads are a valuable budget line item for many businesses. If you haven\u2019t yet tried them, it\u2019s worth experimenting to see how they impact your results.<\/p>\n We recommend starting small and scaling vs. budgeting thousands of dollars for paid campaigns when you\u2019re not fully sure of what works and what doesn\u2019t.<\/p>\n To get you started, here are the minimum spend amounts required to run a campaign on each of the major social networks. The minimum spend won\u2019t get you access to all advertising options or a lot of exposure, but it does give you a sense of how little it can take to get started.<\/p>\n To calculate how much you should spend on your next Facebook ad campaign based on your revenue goals, try our free Facebook Ads social media budget calculator<\/strong><\/a>.<\/p>\n Pro tip:<\/strong> For more tips and insights on combining paid and organic, read Paid vs. Organic Social Media: How to Integrate Both into Your Strategy<\/a>.<\/p>\n To run effective campaigns on social media, you need a tech stack. A social media management dashboard is a must for anyone running campaigns on more than one channel. Hootsuite plans<\/a> start at $99\/month.<\/p>\n Beyond that, there are a LOT of options for tool categories that can make your life easier and improve results.<\/p>\n Costs for these tools range from free to hundreds (or even thousands) of dollars per month. If you\u2019re adding new paid tools to your budget, include a cost analysis to show how the tool will pay for itself. Increased productivity is a great place to start.<\/p>\n Don\u2019t go overboard here. Look for tool categories that align with your most important strategic social goals.<\/p>\n It can be tempting to tackle everything yourself, but that\u2019s often not realistic. Whether you\u2019re short on specific expertise or simply don\u2019t have the person power to implement all your strategies, agencies and freelancers can be a good way of expanding your team without additional headcount.<\/p>\n Agencies and freelancers also allow the flexibility to ramp up when needed without committing ongoing resources to a staff position. Since you hire for specific skills, you can save time on training and onboarding.<\/p>\n How much should you budget for freelancers and agencies? A good guide to freelancer rates in 2024 can be found on the Editorial Freelancers Association<\/a> website:<\/p>\n Working with influencers<\/a> (aka content creators) is an easy way to expand the reach of your social media campaigns.<\/p>\n How much budget you allocate to influencer marketing will depend on the type of partnership with the influencer, the size of their following, and the campaign you\u2019re running (format, channels, goals, etc.).<\/p>\n Influencer rates vary<\/a>, but in general the minimum to work with a nano-influencer (up to 10,000 followers) is $2\u201325, while the minimum to work with a mega-influencer (1,000,000+ followers) starts at $1,200 and goes way up from there.<\/p>\n Some nano- or micro-influencers<\/a> might also be willing to use an affiliate commission structure.<\/a><\/p>\n Don\u2019t forget to include budget for boosting influencer posts<\/a>.<\/p>\n Social media contests<\/a> and giveaways can be an effective way to build brand awareness, increase engagement, and grow your following. They can also help you bring in a library of user-generated content<\/a>. But you need to dedicate some budget to the rewards you\u2019ll offer for participation.<\/p>\n The best case scenario here is to offer your own products or services as a prize. It limits your budget commitments while also exposing people to your offering and potentially getting additional social content after the prize is rewarded.<\/p>\n Partnering with another brand can provide a way to offer a larger prize without a larger budget expense, like Porter Airlines and Visit the USA did here:<\/p>\n When budgeting for giveaways, don\u2019t forget to include rewards for internal contests and rewards. Employee advocacy<\/a> is a budget-friendly way to dramatically increase your social media reach. A little healthy competition (or random giveaways) can help increase uptake in your advocacy program.<\/p>\n Social media changes fast, and your team\u2019s roles can change and grow<\/a> equally quickly. And your team is likely figuring a lot of things out on the fly. Colleges and universities are just now starting to offer social media training, and most social media managers have no formal education<\/a> in the field.<\/p>\n If your team members are ready and willing to invest their time in developing new skills, it\u2019s a good idea to enable that through your social media budget. You\u2019ll be the beneficiary of everything they learn.<\/p>\n Depending on your team\u2019s skill levels and campaign needs, these are a few training options<\/a> you should consider including in your social media budget:<\/p>\n You could also consider allocating an education budget to each employee per year so that they can select the training that makes the most sense to them.<\/p>\n Social media management is not all about execution.<\/p>\n Beyond the obvious tasks of creating and scheduling social posts, your social team engages with social fans, provides social customer service<\/a>, and manages your social community. They use social listening<\/a> to learn about your target audience and alert you to potential threats <\/a>and opportunities. They create a social media strategy<\/a> and \u2014 yes \u2014 manage social budgets.<\/p>\n All of this requires an experienced social media manager<\/a>.<\/p>\n When building this role into your budget, consider that the average salary<\/a> for an in-house social marketer is US$72,133. A freelance social marketer earns $72,929 on average, and an agency social marketer earns an average of $83,328.<\/p>\n It\u2019s all well and good to say that you want to grow your follower count or increase engagement, and that you need to spend money to do it.<\/p>\n But how do those goals relate to the larger business strategy? It\u2019s much easier for stakeholders to approve your budget request if they see that your social goals align with business objectives as a whole. Especially since those stakeholders might not have a great understanding of how social works.<\/p>\n Demonstrate that you follow the SMART goal-setting framework<\/a>. This ensures goals are both relevant and achievable \u2013 important factors in any budget negotiation.<\/p>\n Make sure to include relevant KPIs <\/a>in your budget request. These show that you\u2019ve intentionally aligned your social goals to the overall business plan.<\/p>\n The old saying goes that you have to spend money to make money. Showing that your social team is a profit center rather than a cost center makes it easier to justify further investment in your work.<\/p>\n When looking at your social ROI<\/a>, be sure to consider factors beyond straight sales conversions. Social is often about growing brand awareness and loyalty, thereby increasing lifetime customer value.<\/p>\n If you\u2019re struggling to understand and achieve ROI, embrace a performance marketing strategy<\/a>.<\/p>\n Be prepared to highlight your biggest wins. Use your analytics tools to find campaigns that exceeded expectations. Look for spikes in conversions or revenue and track them back to specific content or campaigns.<\/p>\n Think creatively here. Successes to highlight could include new partnerships formed, new influencers identified, or shares from major social media profiles.<\/p>\n Understanding how your brand\u2019s social efforts compare to those of competitors is important for budget decision-makers.<\/p>\n First, a competitive analysis <\/a>shows how much effort your competitors are putting into the various social platforms. It also allows you to highlight the kinds of content they\u2019re creating. If they\u2019re posting at levels or standards you just can\u2019t match, you may be able to justify greater budget for content and campaign creation.<\/p>\n A good competitor analysis also includes the results your competitors are seeing from their social efforts. This can also help to rationalize the additional resources you\u2019re asking for.<\/p>\n All of this also shows decision-makers that you\u2019ve done your homework. You\u2019re not just pulling numbers out of thin air \u2013 you have studied the competition and understand what it takes to compete in your field.<\/p>\n An effective social team is nimble. Leave some room in your budget to respond to social trends.<\/p>\n For example, it\u2019s a good idea to ask for an overall social ads budget rather than to lock budget into specific platforms. You can include amounts per platform as a guideline, but ensure your team has the ability to reallocate budget<\/a> on the fly based on real-time performance.<\/p>\n Let\u2019s start by looking at the average marketing budget as a whole. Gartner\u2019s 2024 CMO Spend Survey<\/a> found that marketing budgets as a whole fell 15% this year to 8.4% for B2B brands, 7.9% for those with an even mix of B2B and B2C, and just 5.7% for B2C brands.<\/p>\n Source: Gartner<\/a><\/em><\/p>\n So for a company with $1 million in total revenue, the total marketing budget would be as follows:<\/p>\n CMO Survey<\/a> found that in Spring 2024, 11% of the marketing budget on average was dedicated to social media. However, this also varied between B2B and B2C brands.<\/p>\n Source: CMO Survey<\/a><\/em><\/p>\n Let\u2019s apply that math to the numbers for the total marketing budget above, again assuming $1 million in total revenues<\/p>\n![\"graph](\"https:\/\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/image1-620x473.png.webp)
\n<\/picture>\n<\/figure>\nSocial advertising<\/h3>\n
![\"survey](\"https:\/\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/image3-620x167.png.webp)
\n<\/picture>\n<\/figure>\n\n
Software and tools<\/h3>\n
Agencies and contractors<\/h3>\n
\n
Influencer marketing<\/h3>\n
Contests and giveaways<\/h3>\n
Training and development<\/h3>\n
\n
Social strategy and management<\/h3>\n
\u00a0<\/h3>\n
5 tips to get your social media budget approved<\/span><\/h2>\n
1. Align your social KPIs with business goals<\/h3>\n
2. Understand your performance and ROI<\/h3>\n
3. Share case studies and success stories<\/h3>\n
4. Include a competitor analysis<\/h3>\n
5. Be specific \u2014\u00a0but leave some room for unexpected expenses<\/h3>\n
Average social media budget in 2024<\/span><\/h2>\n
General marketing budget<\/h3>\n
![\"\"](\"https:\/\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/word-image-493027-3.png.webp)
\n<\/picture>\n<\/figure>\n\n
Social media marketing budget<\/h3>\n
![\"Economic](\"https:\/\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/image2.png.webp\"\/)
\n<\/picture>\n<\/figure>\n
![\"Hootsuite](\"https:\/\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/image5-620x544.png.webp)
\n<\/picture>\n<\/figure>\n![\"YNAB](\"https:\/\/blog.hootsuite.com\/wp-content\/uploads\/2024\/10\/image6-620x537.png.webp)
\n<\/picture>\n<\/figure>\n