Social Media Marketing is just like any other market product or service. The price varies depending on the products and services offered. These products share major similarities such as customizing, customer support and promotion of brand awareness. But what distinguishes how much does social media marketing cost from other products and services sold is that social media marketing has two main types: Social Media Optimization (SMO) and pay-per-click.
The first thing you need to do is define the expected results before choosing a certain plan. For example, what kind of audience will be reached? What kind of brand awareness will be promoted? How much exposure and interaction with the target audience will the company receive? These questions must be asked so you can have a more concrete idea about what to expect.
What are the main factors that affect social media marketing costs? The following infographic offers an easy step-by-step guide on how much does social media marketing cost. Different industries must also be taken into consideration when determining your budget because subtle differences in key terms can make big differences in the price.
What is your budget? That’s what this infographic focuses its attention on, in addition to outlining how much does social media marketing cost.
How much does social media marketing cost? It varies based on your industry and goals, but it can be generally broken down into six major parts: market research (2%), administration (25%), creative development (45%), implementation (10%), reporting, and analytics (12%) and maintenance/monitoring costs (17%).
Social media marketing is a growing market with millions of users. If you can define your goals, it becomes easier to choose the most effective social media platform for your business. And remember that even if they might be a little pricey, hiring professionals to handle your social media marketing is still the best way to ensure that what you’re offering is reaching as many people as possible.
What is social media marketing and why does it matter?
Social Media Marketing (SMM) is a process and in the digital domain in which you create, share and exchange information with other people in order to establish themselves as experts within an industry, develop their visibility and reputation online, attract visitors to their website or highlight its products. SMM allows users to present their messages using social networks such as Facebook, Twitter, LinkedIn, Google +, and Pinterest as well as blogs and forums.
Social media marketing is an essential tool for any business with a digital footprint or even those that don’t have one yet because if your audience is on social media platforms then you need to be there too! Why? Because it allows you to engage and interact with your target market which in the end will allow you to build a relationship with them.
What are the costs of SMM? The cost depends highly on what is included in each plan, but in general marketing plans usually include market research (2%), administration (25%), creative development (45%), implementation (10%), reporting, and analytics (12%) and maintenance/monitoring costs (17%).
Companies are under pressure to appear in the news feeds of their customers so that they know what is being promoted. If people are not talking about your business then you are missing out! Social media marketing helps businesses become highly visible by sharing their brand name, product images, links, and other promotional material with their target audience. This type of advertising is usually enhanced by the business itself, but it can also be high-quality content that is created and distributed on social media networks.
How much does social media marketing cost?
The main costs of social media marketing are creative development, implementation, maintenance, and monitoring. They account for more than half of all costs associated with SMM so it’s important to have a good plan on how you will proceed. The following infographic offers an easy step-by-step guide on how much does social media marketing cost according to different industries.
Where do you find the best prices for your budget? The truth is that there are many social media marketing agencies that offer different prices depending on the size of your business and how in-depth you want to go. But remember, even if they might be a little pricey, hiring professionals to handle your social media marketing is still the best way to ensure that what you’re offering is reaching as many people as possible.
Examples of some good companies to work with if you’re looking for a social media marketer are as follows:
Mythos Marketing Group – Offers a wide range of social media marketing services from content creation to online community management. Agency rates begin at $50 per hour.
Blue Fountain Media – A leading digital marketing agency that offers a variety of high-quality social media services including paid advertising, influencer outreach, and more. Starts at $5,000 a month.
Butterfly PR – Pays close attention to the latest trends and techniques in social media marketing with a focus on ROI. Helping clients get ahead of their competitors by staying one step ahead. Rates begin at $1,500 per month.
Social Media Marketing Agency – Helps businesses, products and services acquire new customers through social media marketing. Clients also get exclusive access to a proprietary social media management platform to facilitate advertising on Facebook & Twitter.
The results you can expect from hiring an agency rather than doing everything yourself are as follows:
In other words, there is no guarantee that SMM will generate any kind of ROI for your company.
Conclusion: If you want to try social media marketing in order to target new customers, then choose one of the three options above and get started right away! The more active you are on social media the more chances that people will see what you have to offer.
