It's really kind of a "duh" anyway. You do NOT need to increase your marketing budget to accommodate Social Media. You do need to repriortize and cut spending in more traditional areas.
1) CUT YOUR DIRECT MAIL
Unless you're putting out incredible deals (COUPONS) and really cool glossy magazine style catalogs (like Alloy - which offsets it's catalog cost by partnering with advertisers), cut your mailing campaigns by 25% (or more.) You also get to say you've made a "green choice".
2) CANCEL THOSE OLD SCHOOL BANNER AD CAMPAIGNS
Talking about the old school kind, on AOL, Yahoo or anywhere other than Facebook. Just stop. Do invest some of that money on Facebook ads.
3) PUT CONTENT GENERATION IN THE HANDS OF YOUR FANS
Spending a ton on ads and YouTube videos? Invite your customers to produce great content and simply provide a place for it to be shown (your website and YouTube Channel.) Everyone is looking to become the next YouTube star...create a contest and provide a platform for your best customers to do your advertising for you.
4) IT'S FREE TO "LISTEN" TO TWEETERS.
It's even free to respond 1:1...make this a part of your interactive strategy and responsibilities. Or even better - get your brilliant customer service reps involved. They already know all of the answers since they're thoroughly trained on your products and services (and they are probably already familiar with social media). This could possibly reduce calls by answering questions and issues online (offsetting their time away from the phone.)
5) TAP INTO THE STREAM - THEY'RE COMING TO YOU, BE READY
Social Media has the huge advantage of bringing your customers to you, instead of hunting them down yourself. Even negative comments can have positive outcomes if you simply listen. Any time someone tweets, Facebooks, or creates content using your product - tap into it! Comment, provide information and answers.
Keep Clicking,
Michelle
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