Want To Know The Updated Social Media Marketing Cost Today?

A lot of times we here at LYFE Marketing, we receive emails from visitors to our website regarding the costs for our Social Media offerings.

Two weeks ago, we received an mail by Carlos…

The email stated:

“I want to know what packages you have for social media buy twitter followers uk management and what services they include”

We were intrigued.

Then, we began the arranging of an appointment.

It turned out Carlos (like many others) didn’t know what the cost average for advertising on social networks was…

He was trying to understand the reason why the price for services varied from $299 to $15,000 . per month. That’s a vast range.

For people like Carlos who want to know what social media marketing costs are we have made the decision to write this blog to help you.

Here’s the thing:

If you’re looking to hire the right firm for your company, here are four essential services you must know about.

4 General Services Of A Social Media Marketing Company

1. Content Creation

One of the first steps for any company is to be active on top online social networks. This is something that every social media company can provide.

2. Follower Growth

In order for your message noticed it is necessary to have followers or fans of social platforms. It is crucial to determine whether this is included in your package.

3. Social Advertising

To really harness the potential that social media has, you need to advertise. This lets you spend money to be able to connect with millions of users who utilize social media each day.

Here is where you’ll discover the disparity in price of services in the majority of instances.

4. Strategy & Employees

The number of employees the social media company employs to run its company can greatly impact the cost.

It could make the distinction between $1,500/month and $15,000/month to manage social media.

The majority of corporate agencies contain:

• strategists,
• graphic designers,
• Content writers,
• website developers,
• search specialists,
• Account managers

…and and more. All of this works together to develop an efficient social media marketing plan and meet the needs of the customer.

Then, that’s it!

Many of you are aware that these social media make-up marketing services are designed for the majority of SMBs (small or mid-sized companies).

However, if you’d prefer an in-depth knowledge of these services, don’t worry.

We made a video that guides you through the entire process.

Additionally, if you’re interested in knowing what social media marketing cost using LYFE Marketing, then visit our pricing for managing social media page.

Once you know the way that social media marketing services are used, let’s dig into the heart on this post.

How Much Does Social Media Marketing Cost?

When you are considering outsourcing your social media requirements There are a variety of choices available.

You can work as an intern as a freelancer, employee small marketing business or a corporate marketing agency.

Each partner has their own price average and set of pros and cons.

This is why it’s important to remember that no business is identical and may have slight variations.

We will look at each of our partners individually.

Let’s begin with the traditional…

1. Interns

The issue when you hire an intern for social media is that they do not have prior experience in business.

It’s true that interns are able tweet and update Facebook posts.

But, the majority of students do not have the skills to plan marketing, and to produce outcomes for their businesses.

Remember that those who are employed in the social media internship are those who are looking to improve their skills.

Instead of focusing your time on other vital business tasks…

…you’ll likely be answering interns’ questions, and checking or revising the work of interns.

Internships take up many hours and time is money.

Pros of Hiring an Intern:

• Very low or free

Cons of Hiring an Intern:

• Lack of experience, no real ability to make use of social media to increase the growth of your company.
• Monitoring constantly – Spending lots of time to look over work and answer any basic questions.
• Temporary positions – Once they have gained the experience they want leaving, they look for jobs that pay well.

2. Social Media Freelancers

A freelancer is usually known as consultant.

In general, freelancers pay an hourly rate to provide services on a project-based basis.

Social media freelancers with threeor more years of experience in average, can be charged $45/hour.

Alexis Grant also shares some amazing insights on this topic in her blog, What to charge for Social Media Work as a freelancer or Consultant.

Let’s now, take a look at the math.

If you wish to see the best results via social networks, then you have to be on the ball and regularly post on social media.

Assuming that it is an hour per day, your expense may amount to…

$45/hour per day 5 days per week x 4 weeks in a month = $900/mo divided by 12 months equals $10,800 for freelancers.

Pros of Working With a Freelancer:

• Flexible – Freelancers usually are able to move from project projects with ease.
• Lower cost – Employers do need to cover taxes or pay for benefits.

Cons of Working With a Freelancer:

• Freelancers do not have loyalty – they sell their expertise to most expensive bidder.
• Depend on one person only If that person is very busy or sick or otherwise, your social media accounts are in limbo.
• Lack of oversight – There is very little transparency about the way in which work is being carried out.

The last point to remember about freelancers is that their experience is important. Hiring an inexperienced social media manager could be similar to employing an intern.

3. Full-Time Employee (In-house)

The main advantage of employing employees is the fact that you are in control of the quality of your employee’s work, his time, and activities.

You have the ability to create an organization or a position for your social marketing department in the field of media.

But, taking on an additional position isn’t always an easy process.

You must develop the training process, daily routine as well as oversight for employees.

It could take you a few months before you’re ready engage in social media.

Additionally, you’ll have a long-term relationship with you new worker, and so you must be conscious of the risk of failing.

Let’s now, calculate the equation.

At the lower side, you could expect to receive $35k annually in pay. That’s about $3,500 per month if you take into account tax and benefits.

$3,500 per month divided by 12 months equals $42,000 for the year of an employee who is full-time.

Pros of Hiring an In-house Employee:

• Believing in the success of your business
• Total oversight to observe what’s happening every day basis
• Experience is built, hired and then retain
• Flexibility to change the focus of work

Cons of Hiring an In-house Employee:

• High-paying – The typical wage for a social media director is $35k to 50k annually.
• Additional costs – Employers typically pays for employment taxes as well as benefits (health insurance and the 401k plan).
• Depend on one person only – If someone is sick or leaves the business Your social media accounts are in limbo.
• Long-term commitment : You must set up a training process, training process and report for the job.

4. Small Marketing Company

A small marketing business is one that is usually catering to owners of small businesses.

Many of these companies attempt to provide the highest value to their customers for the lowest cost.

This offers you a mix of employing a freelancer as well as an employee who is full-time.

So, Freelancer + Full-Time Employee = Small Marketing Company.

You can get two of the greatest benefits.

Because the majority of small-sized marketing firms wish to expand their client base You will see that they are committed to helping you grow your business too.

The best part is that it’s not dependent on a single person, as opposed to full-time workers and freelancers.

They also have different packages that can meet your budget for social media and requirements.

Let’s now, take a look at the math.

The expense for a reliable small-sized business will range between $400 and $1,500 per month.

For the cheapest package you can expect to pay $4,800 for the year.

$400/mo . x twelve months equals $4,800 for the year

With the most affordable package, you’ll pay an average of $18,000 annually.

$1500/mo. x 12 month equals $18,000 annually

Pros of Hiring a Small Marketing Company:

• There are a variety of pricing options available – You can select packages that meet your requirements.
• Cost-effective – Low-mid cost and packages can be more affordable than hiring an independent contractor.
• Flexibility – You can move from package to package easily.
• Do not rely on a single person. We have several social media managers are on staff.
• You are committed to your business A great company is focused on its results.

• A few oversights – You’ll be able to contact and talk an social media supervisor.

• Experience – Company has typically been in contact with several other SMBs.
• Benefits and taxes are not paid by the employer The fact is, you can deduct it to reduce tax burdens.

Cons of Hiring a Small Marketing Company:

• It’s not 100% but it’s a start. You’ll never be able to see what’s happening in a daily basis.
• Long-term contracts – Many businesses will require a 6–12 month contract.

Be careful There are a lot of small, inexperienced and unreliable businesses on the internet.

It’s also important to inquire about whether the business employs in-house social media specialists.

It is not a good idea to be working with a company who is simply outsourcing the work of their employees to contractors.

So, you’ll be aware of what you can be expecting from your service provider.

5. Corporate Marketing Agency

They typically collaborate with other corporations, such as Fortune 1000 or Inc 5000 organizations.

They are known for their full-service, and they offer a broad variety of marketing solutions to their customers.

Therefore, they naturally employ a large number of people working together in their client-related campaigns.

This is great for businesses with complex business needs, particularly an extremely complex business.

It is because each employee has the ability to think through and execute their own portion of the digital marketing campaign.

However, many companies’ marketing agencies are known for their inefficiency and slow response.

Let’s take a look at the math.

If you are looking for a great business that is a marketing agency for corporations it is estimated that you pay $15,000 per month.

$15,000/month divided by 12 months equals $180,000 annually for a marketing agency for corporate clients.

For the vast majority of SMBs they will not get a return of positive on this kind of investment in social media.

If, of course, your social media posts go viral.

Pros of Hiring a Corporate Marketing Agency:

• Many employees One person who manages the social media accounts of your company.
• It is not dependent on just one person. There are several social media managers are on staff.
• A long-term commitment to your company Many agencies adopt the long-term perspective.
• Full-service marketing. All your marketing requirements are handled by the same company.
• Experience – The company has typically collaborated with buy 500 twitter followers uk many different businesses.
• Benefits and taxes are not paid by the employer You could write it off to reduce tax burdens.

Cons of Hiring a Corporate Marketing Agency:

• Inflexible – Since there are many people as a team it can take time to change campaigns.
• There isn’t a 100% level of oversight. You’ll never be able to see what’s happening in a daily basis.
• Long-term contracts – Many companies will require a 1 to 2 year contract.