How Much is Social Media Marketing Worth?
The majority of businesses and marketers agree that social media marketing is a worthwhile investment. According to 2022 stats, 73% of marketers report that their social media marketing efforts have been effective, and 90% say it has increased their business’s exposure.
But how does that translate into meaningful figures for your business? One way to calculate the ROI (return on investment) of your own social media marketing campaign is to measure your quantifiable goals, such as the number of online form submissions or product purchases you gain, compared to the amount of money you spend on your social media marketing.
For example, for each time a customer clicks on your advert link, you pay $0.97 – the average cost for Facebook PPC (pay-per-click) ads.
Now let’s say you get 1,000 clicks. You’ve spent $970 in total.
You’ll then need to divide that total spend figure by your average cost of acquiring a new customer in order to get your ROI percentage for Facebook PPC advertising.
When it comes to social media marketing, most people want to know how much it costs.
The answer? It depends:
Just like other marketing services, the platforms that you choose to market your business from have a large impact on how much social media costs.
For example, you might find that since a specific platform has more users, you’ll pay a little more in ads since there’s more competition for ad space.
Depending on what social platforms you’re interested in marketing on, your campaign cost will vary.
Do you want to build a real tribe around your brand?
Let’s face it, posting on Social Media for “Likes”, “Comments,” and “Shares” doesn’t correlate directly to making the cash register ring.
BUT… It creates engagement, and it’s important if you; it is also important to me.
You want people to feel like they “know you” even though they’ve never met you, and you can do it through daily posts.
Content Creation is the most important strategy businesses must implement if they want a real Social Media Strategy.
I want to be working together on collecting data and driving sales.
Facebook / Instagram / Twitter / LinkedIn / TikTok
Managing social media accounts effectively takes time and expertise, for one platform + content creation. The price depends on the brand/personality’s current audience size and other budget-related questions; all will be covered in an initial call to ensure we are a good fit for each other.
Campaign management includes researching target audiences, creating multiple content pillars, producing beautiful branded graphics and videos, tracking, scheduling, and reporting.
For most clients, I will need to establish a fixed-term contract of 3 to 12 months — not a month-to-month agreement.
You need to be in it for the long run with me and not expect enormous results in the first 30 days (we always strive to get them) – especially if it’s a new brand and do not have any social media presence.
Content.
What content do you plan to do?
Each platform’s core is specific.
What I mean by this is you cannot be posting a photo collage on TikTok and a long-form copy on Twitter.
You have to analyse each move you make before posting because your audience can tell if you are just posting for the sake of.
Brand.
Does your brand fit the platform?
Companies or organisations sometimes jump onto every platform possible to stay relevant.
But sometimes, the reason for getting on those platforms is forced, and in turn, you will create low-quality content because you sacrifice your brand story for relevance.
Audience.
Do you know your audience well? It is one thing to know you have a considerable following, but do you know their demographics?
Are they mostly just a specific gender?
How old are they?
Where do they live?
Before you even begin, you have to know who you are targeting.
No, everyone is not a good metric.
Successful ads get the most attention if they are targeted toward a specific demographic.
Not sure how you determine that? Get the assistance of a Google Analytics professional to help you out with that.
Professional Facebook management
| Price Factor | Cost |
|---|---|
| Social Media Marketing | $700 to $1600+ per month Including GST. |
Professional Twitter management
| Price Factor | Cost |
|---|---|
| Social Media Marketing | $700 to $1600+ per month Including GST. |
Professional LinkedIn management
| Price Factor | Cost |
|---|---|
| Social Media Marketing | $700 to $1600+ per month Including GST. |
Professional Instagram management
| Price Factor | Cost |
|---|---|
| Social Media Marketing | $700 to $1600+ per month Including GST. |
As you can tell, social media advertising and marketing services generally cost the same, no matter which platform you choose.
Many companies advertise and market on more than one platform, which is why businesses spend an average of $4000 to $7000 per month on social media services.
The amount you spend on social media depends on several factors, such as the number of platforms you use, the paid ads you create, and whether you choose to outsource your social media marketing.
Help your business make new and old followers excited about your latest posts, shares, and offers.
Using my extensive experience (which extends across more than 10 years), I develop social media content that people can’t resist.
Examples of social media content I can create include:
- Shares for blog posts on your website
- Funny, relatable posts that stay professional
- Posts that poll or ask users questions
- And more
When I create posts for your company’s social media strategy, I diversify those posts and tailor them to each platform.
With more engaging content, your business can start to hear from your target audience.
You can learn which posts grab their attention the most and what content captures their current thoughts or challenges.
As users like, comment, and share, you have the chance to practice social listening on your profiles.
Social listening can help your company learn:
- How users feel about a topic, product, or company policy
- What users want from a service, product, or company
- Where users experience pain points in their shopping experience
- How users would like you to improve your service
- What users want to know about a product, topic, or service
Besides practising social media listening on your social media profiles, you can also practice it across networks.
Watch for brand and competitor mentions, and use your findings to improve your strategy, processes, and client experience.