![]() If you decide to do in-house campaign management, the costs will depend on the giveaway rules. How much will it cost you to run a giveaway like this?Īgencies typically consider social media contests as marketing campaigns, and the prices for one campaign fluctuate between $4,000 and $7,000, depending on the scale of the event. 20 posts a month will cost $800, and 40 posts – $1100 a month: Let’s take a look at a real-life example to prove our point. Lyfe Marketing agency charges $700 for 12 posts per month for Facebook and Instagram. Of course, the costs will depend on the number of posts and the type of content you’d prefer to see. Such consistency has brought positive results, and now you want to increase the number of posts to get even more engagement. Let’s say the agency has been making eight posts on social media a month. Factor #2: Number of posts and custom images If you need to connect more profiles, a more extensive plan costs $149 a month. For instance, managing five social media accounts on Sprout Social costs $89 per month. If you have an in-house marketing expert who has access to marketing automation tools, you might just need to upgrade your current subscription plan. Some agencies with years of experience and a big clientele can charge even more. If we’re talking about an agency, be ready to splurge – the average price for social media management is between $300 and $1000. They will hold all the responsibilities regarding content creation, page monitoring, etc. However, social media marketing services will charge extra for an additional social media profile.Īn agency will most likely bring in a new person to do the Facebook promotions for you. If you have an in-house social media marketer, they can cover this task. Let’s say you have an active LinkedIn account and now you want to conquer Facebook as well. The more social networks you use for your business, the higher the price for social media marketing will be. Let’s take a closer look at each of them. However, there are still a few crucial factors that can drastically change the cost of social media marketing. If we compare social media and traditional marketing, the first strategy is not as expensive. The 8 Most Common Social Media Management Cost Factors Most of them are not very costly, but you still need to know how to read the data to understand where your strategy might be underperforming. You can involve inbound marketing tools to cover some of these activities for you. The following skills are crucial for an outstanding social media marketing strategy: Which activities does social media marketing usually involve? For instance, you can create a lead magnet, advertise it on Facebook or Instagram, attract potential customers, and improve sales in no time. Finally, you can involve social media activities in lead generation. Then, if your goal is to generate more traffic, being active on social media can contribute to that. These numbers come from a poll that united 4,394 marketers worldwide, and it shows how versatile social media marketing can be.įirst of all, it brings more exposure to your brand in general. Statista compiled the following benefits of social media marketing for business (poll as of January 2021): What do stats say about social media marketing?īasically, they confirm the importance of this strategy. ![]() Today, you will hardly find a B2B or B2C business that doesn’t have at least one social media profile. Social media marketing is an area of online marketing and is indispensable if your goal is to grow your online presence and brand awareness. It is one of the most popular marketing activities along with SEO and online advertising. ![]() Social media marketing is a strategy that uses social media websites and platforms to promote products or services. How do you calculate it? Which factors impact it? How to make sure it doesn’t cost you an arm and a leg? How to put together a social media marketing budget is also not always clear. In reality, however, it can be super daunting – a content strategy alone can take months to figure out and execute. Most inexperienced brands think that running social media accounts is like having fun. ![]() If we made a list of things that are easy and difficult at the same time, this digital marketing strategy would definitely be there.
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