Having a social media marketing program can mean a huge boost to the growth of many companies. However, one big concern among decision makers is whether social media marketing campaigns are expensive. Depending on the scale, factors and desired results, the cost may range anywhere between $1,000 and $20,000 per month. So, it is important for business owners to decide what elements that need to be included in the social media marketing project to determine the amount of money that they should spend and what results that they want to see. It will take time to make a good balance between expected results and available resources in the company.
Launching a new official Twitter account is free, but maintaining a reliable presence by creating content and interacting with consumer may cost up to $4,000 per month. That’s just for Twitter, you need to have separate budgets to manage Facebook, Instagram and YouTube presences. In many cases, you already have an existing Twitter account that needs to be restructured and this will also cost you money. Facebook is a more complex platform than Twitter and the monthly operational cost may reach $9000 per month depending on various factors. Compared to other social media, Facebook and Twitter are definitely the most important and can give you plenty of results.
YouTube is also an important social media platform where you can share videos and get various forms of reactions. You can upload videos in Facebook, but Facebook users don’t intentionally look for videos. Videos are better than text and image, because consumers are able to see your products in their operational conditions. However, making a professional-looking video is far more expensive than creating a typical Facebook post and a Twitter tweet. You may need to spend up to $5,000 for an effective YouTube video. Instagram is an image-oriented social media and it’s also a highly visual platform. It is good if you want to focus on your fashion or various design products.
Social media advertising can be assigned to an external company as outsourcing project. The amount of commission can be between 10 to 20 percent of the advertisement costs. In general, if you have larger ads purchases, it is possible for you to negotiate on a smaller fee to the outsourcing company. Because social media marketing can be quite expensive for a small business, it is a good idea to work with professionals to accomplish the desired goals.