Social media marketing encompasses a very broad range of activities that can be performed over a number of different platforms. What used to be a simpler community and brand management effort has now grown into a major marketing and advertising enterprise for many companies and organizations. This is particularly true with the rise of advertising on Facebook and other major platforms.
With this increased emphasis on social media marketing, cost and how social media fits into an overall digital marketing budget are becoming more common concerns. To help provide some clarity, we’re sharing three factors any business should be considering in regard to social media marketing cost.
Drivers of social media marketing cost
Even if there is no cost to creating social media accounts for your business, there will always be a need to commit some amount of resources to your social media marketing efforts. Unless your social media plan consists of an idle account with no content and no followers, there will need to be some level of investment.
When determining the proper social media budget, you should keep these three factors in mind:
- Your goals — Ask yourself what goals you are looking to accomplish through social media. What platforms and messaging work for your brand? Are there advertising opportunities you can take advantage of that aren’t available elsewhere? Goals that involve lead- and sales-driving activities are going to have different costs than a brand-building or community management-driven strategy.
- Internal resources — Having an internal team member update social media and drive marketing goals can have advantages and disadvantages. While there always needs to be an internal contribution in terms of branding and business knowledge, there can also be opportunity costs.
- External resources — Outsourcing any of your social media marketing does result in an increased cost, but it can also offer a solid return on your marketing dollar. Working with a dedicated partner with the right resources can result in more efficient and experienced social media management.
When looking for a partner to help you manage social media marketing costs, it’s critical to find the right mix of skills, experience and relationship building. While specialization is important, businesses should also find someone who can help integrate social media into a larger digital marketing portfolio.
Burg & Co. — social media and digital marketing experience and expertise
Our team of digital marketing and content creation experts can help you develop a custom-tailored social media strategy that is cost- effective and helps you achieve ROI. We also have depth of experience in search engine optimization (SEO), pay-per-click (PPC) and content marketing to help you run truly integrated and balanced campaigns.
Contact us today to learn more and to schedule your free marketing consultation with our experts.