What's your social media budget?

The budget should increase over time in terms of the amount spent, but the percentage that you spend on your budget shouldn't necessarily increase. as you earn more, you can afford to spend more to increase your earnings but the percentage of total earnings that you spend should remain about the same.

Should your budget increase? Yes. But I would keep it small. The longer you are putting time and effort into your social media marketing, rather than other areas, you are still costing yourself money. Create posts that work for you and boost your visibility and shares with others.

In terms of percentage, 10% is fine. But plan your posts ahead for your hard sells and then go with the flow on trends and other items the rest of the time.

I like to increase my social media budget but in a small manner. Managing your post will bring more audience for you.

depends how many ads i plan on posting and for what reason. whether traffic to my website or likes to my FB page. etc

I am currently not paying anything for social media, but may be in future. Still am getting good response through social media for my site.

Social media is no less than a boon for business houses. But for a strong social media presence, they would require effective social media strategies for getting optimum ROI. And here comes the need to get rid of the misconception that social media is free. Yes, some social media tools come with no prize tag, but social media marketing involves an extensive budget planning, including advanced technologies, website costs, consultant's fees, blogging costs, social media campaign costs etc. But, it is definitely cheaper than other traditional forms of marketing. When a company makes a blueprint of social media investments, its main objective should be to attain the desired ROI. Considering the fact, enterprises should take up a calculated approach to determine their social media budget.
Social media marketing, often referred as interactive marketing, should be started with the capital, allocated to digital marketing. An enterprise can also experiment with the extra funds, allocated to offline marketing budget. However, no matter what you plan, you should keep a few important tips in mind before investing:

It depends on whether you have the knowledge and time to do it right in-house. I have found that most small business owners don't have the time to devote to solely making the best out of their social media presence. You may have to shell out a little to hire on a professional team, but the results will pay for themselves.

Social media becomes more and more important so it's normal that if you want to use social media you have to keep up. It's not necessary to put more money in it but the least you can do is having a separate person who only focuses on social media. And this will of course cost you more money but on the long term, if you use it right, this will support your others ways of communication towards your target group.

100%, seriously. Social media these days are the king of advertising. While everyone trying to manage adwords etc, then someone is taking over the social media..

After spending some money and selling ***ONE*** t-shirt my plan is to invest time on SEO and not sending a single dime to the pockets of the billionaires that own the social networks. And I've sold many products investing ZERO dollars. Or maybe I don't know what I'm talking about.