One concern that many event-driven program organizers encounter while planning their programs is the possibility that users will be able to accumulate too many points by completing only social media challenges. Sometimes, this can even lead to a scenario where users are able to redeem ticket rewards without referring any ticket sales. The best way to counter this is by planning out a Social Media Budget that will allow you to keep track of the total amount of points you’ve allocated to your social media challenges and make sure that new challenges will not allow users to earn rewards too easily.
If you’re running a year-round program with multiple events, there’s a bit of a twist to this. Check out the Monthly Social Media Budgets section towards the bottom to learn more.
What is a Social Media Budget and Why Should I Use It?
The Social Media Budget is a tool that you can use to help calculate the points that should be awarded for new social media related challenges in your program. It’s most useful for organizers who are concerned about users being able to reach a ticket reward without referring actual ticket sales. However, the budget can be used by anyone who wants to keep track of the points they’ve made available in their program through social media challenges and get a sense of the point awards they should set on future challenges.
The Social Media Budget is not something that can be tracked using the Admin Web Portal; you must instead track your program points using external tools.Use the information and tools provided below for your program’s Social Media Budget!
Planning a Social Media Budget for a Single-Event Program
Start by determining your “baseline” ticket price. Your baseline ticket price is the average price of your tiered tickets. Many organizers will use the average price of their GA ticket as a baseline for their rewards system.
For a festival with multiple ticket tiers & ticket types, the organizer may use a baseline that takes into consideration the price of GA Tier 1, GA Tier 2, & VIP tickets to calculate their baseline ticket price. Check out our example below.
GA Tier 1 = $100 / GA Tier 2 = $115
VIP Tier 1 = $200 / VIP Tier 2 = $215
Baseline Ticket Price = $157.50
We recommend making your overall Social Media Budget equal to the points earned by completing two sales of a baseline ticket. Using the example above, your social media budget would be 3,150
How did you get this calculation?
Baseline ticket price x 10 points for every $1 sold = # of points per ticket sold
# of points per ticket sold x 2 = Social Media Budget
$157.50 ticket x 10 points for every $1 sold = 1,575 points
1,575 points x 2 tickets = 3,150
This means that users will only ever be able to earn 3,150 points from completing social media challenges. This will ensure that users who qualify for rewards that cost more than the social media budget have sold at least one ticket.
Social Media Budget Spreadsheet
We recommend using a spreadsheet to calculate and track your social media budget. We’ve made a handy tracker spreadsheet that uses a couple of simple formulas to help calculate your Social Media Budget and track social media posts and points, which you can access here.
You can make a copy of this spreadsheet to edit or create your own, but the basic fundamentals should be the same. Follow the steps in our walkthrough below to calculate your social media budget and keep track of your social media challenge points.
Start by inputting your baseline ticket price in $$ in cell K2. The formula in cell H1 will automatically update with the overall Social Media Budget.
Next, fill out columns A through F with any existing challenges that have been published in the past. The example spreadsheet lists a couple of challenges that your program is likely to have.
Whenever you publish a challenge, add the point reward for that challenge in the Points column, and add a 1 in the Active column. Make sure to remove the 1 when the challenge is no longer active, but leave the challenge points there. Cells H2 through H4 will automatically update with the information in the Points and Active columns to show you how many challenges are currently active, how many points in social media challenges you’ve published overall, and how many points you have remaining for your social media budget.
Cells H5 through H7 are manually updated, and can be used for your own purposes. For example, you can divide your overall remaining point budget by the amount of weeks remaining to get an idea of how many points in challenges you should expect to publish per week, then divide that further by your expected challenges per week to get an idea of how many points each challenge should be worth.
That’s it! All of this is just to keep your program information at your fingertips, but it is certainly helpful to have everything down for your own records and peace of mind.
Monthly Social Media Budgets For year-round programs running multiple events, the Social Media Budget can also be used, but with a couple of twists. We recommend refreshing your budget monthly to allow users a specific amount of points in social challenges each month.
To use the tracking spreadsheet for this, simply clear out columns A through F
Tips & Tricks We suggest that you do not include any postering and flyering challenges in your social media spreadsheet. The established culture of street teaming for events means that many of your users will likely expect to be able to earn tickets through postering and flyering alone. You should take this into account when planning the point structure and challenge format for your postering and flyering campaigns. Check out our article for more information on best practices & suggestions for field marketing challenges.
Think about the value provided for your brand by user-generated content and the priorities of your program. Many organizers are heavily focused on driving ticket referrals through their programs, which brought about the concept of the Social Media Budget. Other organizers may be more comfortable with their attendance and may be more focused on building organic buzz around the event through social media challenges. If that’s the case, feel free to disregard the outlines above and allow more total points in your social media challenges. The Social Media Budget is simply a tool to keep track of your challenges; what you decide to do with your program is up to you! Check out our article for more information on increasing incentives for users.
For any other questions about your program’s point structure, you can use the Submit a Request button at the top of this page, click on the blue chat icon at the bottom of the Admin Web Portal to activate the chat feature, or reach out to your dedicated Customer Success Specialist to learn more!