Tuesday, October 07, 2008

Please, Sir, May I Have Some More (Budget)?

Are you begging for a social media budget? Do you show up to the powers-that-be, hat in hand, and present a humbled version of yourself or your idea, nearly apologizing for asking for funding?

Don't!

While any number of marketers may think of social media as "free," the clear fact is that it does require funding - mostly around labor rather than production. There is a cost associated with social media activities, but it's far less than the money being spent on traditional media buys.

Does that mean you should think of the quality of your idea and the relevance of your budget request in a lower tier? Not at all! In fact, because of the effectiveness of some social media programs, there may be measurable results that are more significant than a newspaper ad, billboard or 30-second spot.

The forward-thinking marketers and budget directors should be open-minded enough to apply enough funding to innovative thinking - at least to test the waters. By taking a fraction of a large media buy and applying it to a social media initiative, marketers can create a disproportionate impact.

Done repeatedly, this can result in real traction for a brand. All it takes is a little bit of risk and a bit of creative thinking when it comes to budgets.

Photo credit: Wikipedia

Labels: Marketing, Risk, social media

Posted by Scott Monty at 11:29 PM

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About Scott

The best way to describe Scott is "Renaissance Man." Friends and colleagues that know Scott from one facet of his life are very frequently surprised to learn of his interests and talents in other areas.

Scott is a marketing and communications professional focused on the digital industry — specifically on social media. His career spans a number of industries such as healthcare, pharma, biotech, travel, automotive, tech, and communications, and includes a wide range of clients, from start-ups to Fortune 500 companies.

Currently on the staff of corporate communications in Ford Motor Company, Scott heads up the social media function and holds the title Global Digital & Multimedia Communications Manager. He is a strategic advisor on all social media activities across the company, from blogger relations to marketing support, customer service to internal communications and more, as social media is being integrated into many facets of Ford business.

Prior to joining Ford, Scott served as Consigliere for crayon and spent a number of years with PJA Advertising + Marketing, a boutique BtoB agency specializing in health sciences & high tech.

In addition to his consulting and agency background, Scott is an active blogger and podcaster. He writes about the intersection of advertising, marketing and PR at The Social Media Marketing Blog and also writes The Baker Street Blog, a literary undertaking. Scott has been featured in numerous news and business publications, on a variety of podcasts, and on national television. Scott is a recognized thought leader in the social media industry and frequently speaks at industry events.

Scott received his Master's in Medical Science from Boston University's School of Medicine concurrently with his MBA from BU's Graduate School of Management. He lives in the greater Detroit area with his wife and two young sons, golfs all too infrequently, and has a hidden talent for voice over work.

Oh, and one last little-known fact: Scott coined the term "tweetup."

You may download a headshot here, courtesy of C.C. Chapman and a PDF version of Scott's bio here.

Disclosures/Relationships

Scott is on the Advisory board of SavvyAuntie
Scott is on the Advisory board of Business Smart Tools
Scott is a judge for the SAMMY Awards
Scott is on the judging panel for The Hive Awards
Named one of iMedia's 25 Top Internet Marketing Leaders & Innovators
This blog's content is also syndicated on Social Media Today
Plaid occasionally does web work for me and designed this site
No animals were harmed in the making of this blog.

Speaking Events

Scott speaks on social media at events, seminars and conferences around the world. His topic generally focuses on corporate use of social media, and specifically on the progress that Ford has made in the recent past. If you're interested in booking Scott to speak at your event, please send an email to speaking [AT] scottmonty [DOT] com. Scott's bio and headshot can be found here.

Here are some of Scott's events from Upcoming.org:

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