Hitting the “like” button on Facebook is more complicated than it might seem. Social media marketing starts at $1,000/month and goes up to a whopping $10,000. What are social media marketing pricing and how do they vary?
Let’s take a look!
Facebook ads can cost as little as $1 or go all the way up to $7.5K per day for targeting specific demographics in specific states.
According to some stats, a simple Facebook page, including posting updates and managing comments and wall posts etc. Starts at $200/month with some agencies quoting $300/month. A fully-managed social media marketing campaign is from $1,000-$10,000/month. The average agency cost for a social media marketing campaign is $4K-$5K per month.
The cost of social media marketing is all-inclusive with staff, technology, and agency fees. Unless you choose to outsource your social media marketing to an agency. These are the costs of hiring someone yourself.
There are elements of social media marketing that you may be able to do yourself. But you’ll need to add in time and expenses for research, writing posts, and managing comments.
So what does this mean for your budget?
If you’re paying $2K/month on a social media marketing campaign. You have a cost of $12-$15K/year. If you’re happy with the results of your campaign. Also, the clients are good about using technology that helps them exploit their social reach. Then it’s not a bad investment. If you’re looking for something more professional for $5K/year or even $10K/year, then probably not.
For this price range, you’ll need a desktop/laptop/tablet computer and a smartphone. You’ll also need your own marketing software, email platform, and some basic analytics tools.
The best social media marketing pricing in Vancouver starts at $1,000/month for advertising on Facebook and $1-$2.5K/month for the entire package of social advertising (Facebook ads + Twitter ads).
How much does marketing on social media cost?
Here, you have two choices. You can either engage a freelancer who often charges by the hour or work with a social media management company, which typically charges monthly.
Costs of a social media marketing company
The cost of a social media marketing firm’s services might range from $50 to $300 per hour, depending on the range of services you require.
Hourly fee: $50 to $99
80% of clients are small businesses ($10M and under).A four-month marketing and advertising effort will cost between $10,000 and $49,000 in 2021.In 2021, a five-month digital marketing effort with social media would cost around $10,000.
Pricing may not necessarily be determined by the number of hours or projects.For a conventional set of services, some social media marketing companies provide monthly price packages.
You can simply arrange month-to-month budgets this way, which can relieve some of the weight from your shoulders.
What is the monthly cost of social media marketing?
It’s important to consider carefully which services, given your monthly budget, you can afford.In general, your social media manager will cover more social media platforms as your budget increases.
How much does marketing on social media cost for businesses?
The average American business spends between $200 and $350 per day on social media marketing, according to data by the Content Factory. This implies that overall expenses might range from $6,000 to $10,500 each month, or from $72,000 to $126,000 yearly.
These numbers are far larger than the provided because they account for all possible expenses, such as employing and training internal social media workers. You can see how you might save money by working with a third party instead of handling your own campaigns because these are things you don’t need to worry about when you deal with a social media management firm or freelancer.
There is no disputing that social media marketing can be costly, but the benefits of a successful campaign will pay itself by assisting your company in attracting new clients and increasing sales.
In the end, it will be a beneficial purchase because of the benefits you’ll receive.
What is the value of social media marketing?
Most companies and marketers concur that investing in social media marketing is worthwhile.
According to statistics from 2022, 73% of marketers claim that their social media marketing efforts have been successful, and 90% claim that it has raised the exposure of their company. It is also known that social media marketing is becoming more and more popular. In 2022, it is anticipated that social media advertising would cost $173 million.
In reality, the second-largest industry for digital advertisements right now is social media advertising.
However, how does that translate into important numbers for your company?
Measuring your quantifiable goals, such as the number of online form submissions or product purchases you receive, in relation to the money you spend on social media marketing is one way to determine the ROI (return on investment) of your own social media marketing campaign.
For illustration, suppose you spend $0.97, which is the typical price for Facebook PPC (pay-per-click) advertisements, for each time a user clicks on the link in your advertisement. Let’s say you receive 1,000 clicks now. In total, you’ve spent $970.
To calculate your ROI percentage for Facebook PPC advertising, divide that total spend amount by your typical cost of gaining a new customer.
Remember that investing in a successful social media marketing campaign can increase your company’s revenue and client base while driving visitors to your website. As a result, social media marketing is a wise investment.