The question that we get most often about social media marketing is how much it costs — which makes sense. Like so many major decisions in business and in life, the major constraining factor tends to be your budget (that is, if it isn’t time).
So how much does it cost to outsource social media marketing?
The shortest, easiest (and, admittedly, the least satisfying) answer to this question is this: it varies – a lot. Depending on the experience level of the social media agency you hire, the size of your business, the suite of services you require, and a bunch of other factors, professional social media marketing can cost you anywhere from $1,000 per month to $20,000 per month.
This kind of wild discrepancy in cost can make things extremely difficult for business owners and marketing managers who are contemplating outsourcing their social media marketing. The headache of trying to figure out which social media agency to hire, which services you need, and how much money you should spend can cause a lot of anxiety — and even decision-paralysis, which can be deadly when you’re trying to grow a brand.
That’s why we wrote this guide: to give you a clear breakdown of all the information that you need to make the best decision for your business. Let’s start with the question that likely brought you here in the first place and we’ll try to give you a better picture:
How much does marketing with Facebook Cost?
Launching a new Facebook account, complete with setup and outsourcing content creation/consumer interaction, costs an average of $2,000-$4,000 per month – and that’s just for Facebook. With that said, the total price range was $1,000-$7,500 per month.
What if you already have an existing Facebook account, but need some help to take it to the next level? Restructuring an existing Facebook account with “limited coaching” to achieve client goals is still going to cost you between $1,000-$2,500 per month, with some agencies charging as much as $4,000 per month.
How much does Marketing with Twitter/Facebook/Instagram/Youtube etc cost?
The cost of marketing with Twitter, Facebook, Instagram, Youtube and the like, can run a bit higher than that of Facebook alone. To set up all your new accounts and provide limited ongoing training, agencies charge an average of $2,500-$5,000 per month, with some going as high as $9,000. However, for most businesses it’s a good idea to bundle these two together (and probably to add on a third and even a fourth channel), which will not only help you increase your audience, but can get you a deal on the price as well.
At It's Marketing we charge between $4,000 - $7000 to manage 3 social media channels, including custom graphics, hosting live chats, live events, creating and managing lists, creating inbound/outbound campaigns, blogging and more.
Best of all, at It's Marketing, all our Social Media Management packages include a custom built Social Media Strategy.
What is Social Media Strategy?
Here’s something to consider: all of the prices that we listed above include status updates and interacting with customers. You know what else it includes? Strategy.
Many agencies charge a minimum of $4,500 per month for Facebook and Twitter management, but won’t include any strategy behind the efforts. That costs extra, as if asking for social media strategy is like adding for guacamole to your order. We’re of the opinion that guac should always come with the order, which is why we include strategy as part of our social media marketing packages (and why wouldn’t we? The alternative is to charge for working with no strategy, which makes no sense).
Now, we’ll admit that the strategy is the most important part — you’ve got to go into social media marketing with a game plan and a list of goals, or you’ll never achieve the ROI you’re looking for. This is the reason you don’t want to outsource your company’s social media management to the intern who can’t stay off Snapchat.
Does My Business Need A Social Media Strategy?
Our answer is an emphatic YES. Investing in social media marketing without having a strategy is like buying a car and not knowing how to drive. Like buying a plane ticket to Hawaii and not getting on the plane. It’s like putting a sweet new entertainment center in a house without electricity. We think you get our point.
Social media platforms are a tool that can help you market your business, but unless you know how to use it to generate tangible ROI for your business, you’re only setting yourself up to waste time and money. And the truth is that social media strategy is a lot more complicated and involved than you probably think.
Why Does Social Media Marketing (And Strategy) Cost So Much?
There’s a pretty common misconception that social media marketing is a quick and easy way to market business, because anyone can set up a Facebook page, right?
But social media marketing is so much more than setting up profile and sending out some tweets. From audience and list building, to the right image sizes to use for each platform, to which kinds of posts convert the best, to leveraging your social media posts to create PR opportunities…there is an endless and ever-changing list of skills, tools and best practices that social media marketers have to stay on top of in order to consistently provide ROI to their clients.
We could try to explain all of the incredible things that an expertly planned and implemented social media strategy can do for your business, but when it comes to this sort of thing, we’re all about the show instead of the tell. Contact us today to see how we can help you.