How Much Should Social Media Marketing Cost?

Social Media Marketing concept

When you run a small or medium-sized business, you want to maximize every part of your budget including social media marketing. Perhaps you wonder if social media marketing is even worth it.

There are plenty of small business owners who think so. In one study, 92% of marketers said their business garnered more exposure through their social media efforts. Also, more than 50% of marketers who have used social media for the last two years said their efforts have helped improve sales.  Not every business has the resources to manage social media internally. That’s where hiring a freelancer or small agency can help you.

However, there’s no straightforward pricing in the industry. How do you know if you’re getting the best deal?

In this article, we’ll discuss typical social media marketing costs, services, and how to balance managing those activities internally versus outsourcing them.

Social Media Marketing Services

There are four main general services that a digital social media agency will offer:

  • Content creation
  • Follower growth
  • Social media advertising
  • Experience and employees

When you sign up with a social media agency, they should be able to tailor the services to you based on your needs. If you do content creation well but don’t have much experience with SM advertising, they should omit the content creation service.

Social Media Marketing Costs

What you’ll find as you shop around for a place to outsource your social media is that costs can vary widely.  For the most part, content creation and follower growth services remain the same across agencies. Where the prices vary is in SM advertising and the number of employees.  With such a broad range of prices, it can be hard to budget your outsourced social media marketing costs each month.

As a small business, you’ll likely find the greatest success with a social media freelancer or small SM agency.

An experienced freelancer with about 3 years of experience will cost around $45/hr. If the freelancer spends an hour each day managing your SM activities, you’re looking at $900 per month. The drawbacks of hiring a freelancer are they don’t have any loyalty to you, you’re out of luck if he/she is busy or sick, and you don’t have a way to oversee their work.

A good small agency will cost between $400 to $1,500 per month. What you get for that range is a customized package for your needs, a larger staff, and commitment to you as a client. Some drawbacks include maybe needing to sign a 6-12 month contract and not having tremendous amounts of oversight.

If you’re really not sure what to do with your social media strategy, a small agency is likely the better option for you.

To Outsource or Keep In-House

Following basic economic principles, keep SM activities that you do well in-house and outsource what you don’t. For example, if you have trouble converting your Facebook followers into paying customers, try outsourcing content creation or social media advertising.

You should also outsource activities that take too long. Creating SM ads can be time-consuming, especially to make them blend in, which is why that activity is often outsourced.

Finally, outsource any activities you think someone else could get a higher ROI on than you currently are.

Find Your Agency

Now that you have a better idea of social media marketing costs, you can start looking for a freelancer or SM agency. Remember, outsource what makes the most sense for your business.

You can learn more about ClickFirst’s social media management packages here.

2018-01-10T08:57:17+00:00