#SMTLive Recap: Adjusting Your Social Media Budget to Support Recent Changes to Business Needs

Despite everything going on with COVID-19, we’ve found a silver lining in getting to host our #SMTLive Twitter chats for you more often these days. This week, we discussed adjusting social media budgets due to recent Coronavirus-related changes. It was fascinating to see how everyone is innovating and improvising financially. If you were able to join this week’s Twitter chat, we hope you learned something about adjusting your budget from the other talented social media marketers in this chat. If you missed it, not to worry, we’ve recapped the highlights for you below. 

Let’s dive right in. Clearly many (many) social media budgets have been affected here, so we created a more specific poll regarding how #SMTLive participants’ wallets have been impacted. 

While it was encouraging to see that a lot of people haven’t seen a change in spending yet, many users saw a decrease in funding for social as well. 

@TJMO, hats off to you for even attempting to manage restaurant-industry social right now. Wishing you the best!

Pausing marketing services seems more common than not these days. However, @TJMO noted that ads have gotten a bit cheaper as a result.

Decisions, decisions.

@vine_agency applauded restaurants and coined a useful new-to-us term: panic-pausing. 

Being that ads are now cheaper as a result of budget cuts, some businesses might be more inclined to dive headfirst into paid media. But, at the same time, there’s nothing cheaper than organic content. #SMTLive participants were eager to discuss balancing where to invest time and limited funds in this new environment. 

@missamander suggested that high-value ads could be worth the money right now.

@Nike may have hit the nail on the head with their (paid) compassion for the situation here.

@vine_agency is tackling the paid vs. organic balancing act right now.

Multiple #SMTLivers emphasized the bottom line during this chat: Budget doesn’t matter to most social media marketers nearly as much as sensitivity to and awareness of the current situation. 

Some businesses have the opportunity to cash in on relatively cheap ad buys right now, but how are they going about this strategically?

@Jill_Messinger picked up on the quarantine TikTok trend.  

Now might be a better time than ever to experiment with TikTok marketing. If you’re interested, the above article offers further guidance. 

However, if your audience isn’t on a platform, there’s obviously no use in investing in it, no matter how trendy. That’s one thing about social media marketing that will probably never change, pandemic or no pandemic. 

For those who have the funds, boosting those empathetic messages you’ve worked so hard to put out on social could be a huge value add. 

It seems like this strategy is working for at least one of us. 

@vine_agency offered some platform-specific advice for boosting important content.

Even users who aren’t currently boosting their content offered advice.

Here are a few organizational techniques from #SMTLivers who have been there, done that regarding social media spend. 

Whether you use in-platform tools like @Smita_DigiMarke or external tools like the one @vine_agency mentioned, staying organized feels rather important when your budget could change daily. 

We wanted to know how we can help out our #SMTLive family during this time!

We’re so happy to hear that you’re loving these chats. Please feel more than free to contact us with suggestions for them – they’re here for you!

Other users were interested in how those free trials have been going regarding tools. We’ll be sure to keep that in mind for future chats, but thank you to everyone who participated in this one. We know it can get a little lonely as we all try to navigate working in social at a time when more people are glued to their apps than ever, so we’re glad these have been helping. Don’t forget to tune in next week, same time, same place. 

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