social media advertising budget

Marketing in the Digital Age: News Round-Up (week ending Nov 9, 2018)


Chat bots to the rescue.

Chatbots Working for you This Holiday Season

Summary: With the holiday season fast approaching, many brands are using chat bots to help with consumer questions. Brands love them because it streamlines efforts from their customer service department for FAQ’s. Consumers love them because the bots are often in places they already are, like Messenger, and can provide advice like gift recommendations.

Opinion: First, where has the year gone?! Second, bots are a great tool in this type of scenario to complement a robust customer service strategy.


Summary: MTV, Facebook, and AdCouncil launched a series of videos on IGTV (Instagram TV) featuring 5 inspirational female STEM role models. The series began this week and will continue every Wednesday for the remainder of the episodes.

Opinion: #wca- woman crush always! This is a great series aimed at encouraging girls to pursue interests and careers in the STEM field.

How to Set Your 2019 Social Media Advertising Budget

Summary: First and foremost, define what your goals are in the space. Is it more traffic, more engagement, more website views? Once you have a handle on this, determine what to project. For example, for more community building, gather your cost per follower (amount spent/amount gained) to get a rough estimate of your acquisition costs. If you want to increase by 25%, do the budgeting math accordingly. For increased engagement, visit previous engagements to see what it will cost you to keep on that path. Website views, use cost-per-click x target visits.

Opinion: This is a good start to break down a good chunk of tools you need to accurately forecast for 2019. You also want to take into account any campaigns that are being built out for your brand alongside any other one-off pushes that may be needed.