Are you planning to launch as social media advertising and marketing campaign? If so, it can be difficult trying to figure out what kind of budget you need to set aside for your advertising and marketing strategy. While there's no way you can get a clear answer, you can get a general idea of how much your social media advertising and marketing campaign will cost you.
To start, let's cover social media marketing first. You need to decide whether you're going to work on your social media marketing inhouse or outsource it altogether. If you're planning on building and managing everything yourself, you'll probably need to invest around $30 to 100 a month into social media management tools like Hootsuite, Agorapulse, or Sprout Social. The big expense will probably be time. You'll have to create your own content, keep up with posting on social media regularly, respond to mentions, network with influencers, and more. This is obviously not the ideal solution as most business owners are busy taking care of other aspects of their business. The alternative to this is to outsource part of the task.
You can hire somebody online to create your content and manage your social media activity. Content creation can cost anywhere from $10 to $30 depending on the format, length, and topic. If you plan on publishing two pieces of content per week to share on social media, this can run you $160 per month. Hiring somebody will also cost you anywhere from $200 to $500 per month if you use a freelancer. However, you will still need to be the leader behind the marketing. You'll have to take on the role of the project manager, creative, and strategist. This still means you'll have to spend a significant amount of your time on social media marketing.
That's why most businesses that want to take social media marketing seriously end up working with a digital marketing agency. It can cost anywhere from $1,000 to $3,000 per month to have the agency to take care of your social media marketing. It's often worth the cost if the agency specializes in social media marketing. They'll already know what works, so they'll be able to build your followers, engagement numbers, and extend your reach.
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Social media advertising is completely different from social media marketing. You will have to spend money no matter what. Many businesses using social media advertising will often have to spend a decent amount of money on their ad campaigns before they figure out how to make it work. So in a way, you can say there's a toll fee for starting a social media advertising campaign. As for the costs, there are many factors that affect how much you'll pay with your social media advertising campaign. The average click costs will vary depending on the industry, target audience, and how much exposure you're willing to pay for.
With that said, you probably want an idea of how much you should expect to spend on your social media advertising campaign. The truth is that there isn't a clear answer. It really depends on how aggressive you want to be with your campaign. Beginners should try to spend the wind down their daily ad spend as low as possible until they are comfortable with the advertising platform.
For example, Facebook allows a minimum budget of $1 per day for impressions and $5 per day for clicks and other conversion goals. These social media advertising platforms are very technical and have a steep learning curve. You can quickly lose your money if you don't know what you're doing and set your daily budget too high.
In general, you should spend anywhere from $150 to $300 per month if you're just starting out. Eventually, you will want to move the budget up to $500 to $1,500 as you see some results from your initial testing phase and want to scale up your campaigns. And of course, these numbers will vary depending on your industry and target audience.
Contrary to what many people believe, hiring an expert can actually help reduce digital marketing costs, including costs associated with social media advertising and other related online marketing strategies.
There are various kinds of digital marketers—each with varying specialties and professional fees. For instance, you can find freelance digital marketers, usually private individuals, offering their professional online marketing services in freelance job portals or classified ads. Most freelancers charge per hour or per-project basis.
Another type of digital marketing expert is in-house digital marketers. Most large businesses and corporations employ in-house digital marketers as a part of their marketing team. These experts are employed as full-time staff with a regular salary and benefits package. Because you need to pay an in-house digital marketing expert like other regular employees, it could mean a higher cost for you.
On the other hand, online marketing agencies provide managed internet marketing services, usually for small and medium-sized businesses. Digital marketing agencies, such as Black Digital Group and other reputable companies offer complete services at reasonable rates. Many digital marketing agencies only bill clients for the services they use. Hence, you can save money from your digital marketing campaigns when you hire an internet marketing agency.
So that pretty much sums up how much social media advertising and marketing will cost you. The costs will vary based on how much you want to outsource and how much you're willing to do yourself for your social media marketing. Social media advertising costs will vary depending on the ad platform, your industry, and your experience with the platform.