If your current ad campaign is built around a small budget, you could be limiting yourself, big time.
When you’re first starting out with social media marketing, smaller budgets can be comforting as they seem low-risk. However, not moving away from small budgets as you scale your business is the bigger risk in terms of your business’s long-term growth.
Don’t let a small ad spend budget become a safety blanket you refuse to give up.
A small budget can limit you in ways other than just limited reach. If you’re umming and ahhing about when to take your ad spend to the next level, we recommended considering the points below.
- When you’re working with a small budget, every cent counts. You’re striving to get the most out of your spend without taking the risks that could actually boost your business.
- You have next to no room to experiment, so you could be missing out on a much more lucrative audience because you’re sticking to what is currently working.
- You have limited data to analyse. You need data to understand what is working and what is falling short. With a small spend, your data pool will also be small and could cause you to make decisions that don’t serve you in the long run.
- You’ll be in the testing phase for a very long time. This ties into the second point – as you don’t have the room to experiment, you’ll find that you’re testing ads for way too long when you could be backing ads that have already proven to work if you had a bigger budget.
If you’re nervous about boosting your ad spend budget, you need to get the experts in! The Social Butterfly team excels at taking existing smaller strategies and building them out in a way that ensures your leap of faith is rewarded.