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  • Writer's pictureAlex Miranda

What is the current cost of Social Media Management?

In a world where almost 82% of the global population has a profile on at least one social media platform, it is essential to try and reach out to them. Social media marketing has become a very strategic element in all companies across the board that wish to keep relevant. However, for a core service like this one, you might find that its current cost is more complex to calculate than it may seem.

The monthly expenses from a social media management service start at $1000 and go way beyond the 10.000$ mark. Now, this vast gap exists primarily because there any many different factors that play an essential role in defining it. You can opt to hire an agency to do the whole job or have an internal manager that handles freelancers for each specific platform you wish to have. Defining your needs is quite complex, as each company is different.

The best way to start doing so is by segmenting your ideal clients and then targeting the correct ones. Each niche and ideal customer offer a unique combination that often results in an ideal platform (or platforms) to develop yourself. We will walk you through the essential choices before developing a formal marketing plan; with this, you will understand much better where the costs for social media marketing come from. You can also opt to look into our specialized marketing services to draw inspiration.

To outsource or not to a big dilemma for the current costs.

Most social media marketing agencies offer different packages for your platforms to take most of the work off your hands, but picking one with a lot of experience can exponentially increase your current costs (up to $10.000 for a complete package with +4 platforms). Other firms offer consultation sessions with in-house teams to find the perfect strategy for brands in plans of $1500, an effective solution for smaller companies.

There is also the option of having a manager inside the company handling specialized individuals that can grow your networks stronger by themselves. Applying this strategy may not be expensive but requires most of the hard work in-house. Doing so may result in a monthly expense of around $1000 for 2 platforms, making it a great choice if you have the manpower.

Having an expert can mean the difference between a successful and a failed campaign. We understand that the costs associated with it can be high, but the return on the investment can be all the difference.

Select only the best platform for your company

Sometimes less is more when it comes to social media marketing; focusing on only one or two platforms is not necessarily bad if they are the correct ones for your clients. Instagram and Quora can be good options for businesses that provide a steady stream of visual content. Still, if you offer services related to money investment or economy, Medium is a much better choice.

Recognizing the core strengths of your business can help you find the right platform to invest time and money on. Each platform offers unique niches to connect using their respective focus to reach desired audiences; this is something that most firms also know. Preparing in advance by identifying your best options will save you from making the wrong investments at the wrong time.

Do not be afraid to think outside the box if you see an opportunity, as case studies have achieved excellent results using platforms such as Snapchat or Reddit. The same can be said about TikTok, which no harbors almost 100 million accounts. This trend of short formats has become so popular that even Google is considering adding it to the top search results. Information is transmitted in many different ways, and this is constantly evolving, so keep your options also open to it.

This will have a considerable impact when calculating your monthly expenses. The hourly rates for a medium editor are vastly different from those for an Instagram community manager. Prices tend to increase with more specialized platforms and positions. But, having the knowledge of which one is more relevant or necessary for your current project is what will let you decide the best path for you.

The specialized tools are also part of the equation.

Finally, there is also another essential factor to bear in mind, the cost per ad. These powerful tools allow you to target particular segments within your audience, making your social media marketing strategies more effective. Having an expert will mean no real change if you don't give him the necessary tools to perform. This means email marketing tools or decks for publications and Pay Per Click (PPC). All of this has an associated cost you must consider when considering your return on investment.

Facebook and Instagram offer plans for around $300 per 30 days, a cost you must consider when calculating your monthly expenses as chances are they will be part of your bill. Although it can be pretty expensive when handling multiple platforms, the power of ads must not be underestimated. Having in-depth analytics and targeting specific audiences can substantially impact your overall performance. The current cost of a social media campaign is not only measured by the ads but by the overall ecosystem that supports it.

Virtrify has qualified experts in many fields related to social media marketing; we know how to work with a tight budget or how to truly make you shine with the proper investment. Do not hesitate to contact us for a consultation, as we can offer you a professional service at an affordable price without sacrificing quality. We are also experts in creating customized strategies that fit right into your company's needs. It does not matter if you are familiar with remote work or want to try it out for the first time; we will be by your side the whole process and enable you as needed.


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