How much does social media marketing cost?

How much does social media marketing cost on Facebook?
One of the major questions asked by a prospective customer of an agency is “how much does social media marketing cost?”. Given that we’re advertising on Facebook, that question often gets narrowed down to “On Facebook?”.

As with a lot of services, the answer to the question varies a lot. Based on the agency or consultants experience, the range of services they have, the range of services you require and the size of their business. In Australia, costs can range from as little as $400 per month right through to $22,000 per month.

Such a massive variance can make it impossible to decide which and where you should advertising your ads.

How much does a Social Media strategy cost?

The quotation of a social media strategy project is very difficult because it’s not only dependent on the brand and the number of platforms but also dependent on the size of your organisation. The size of the organisation differs the pricing because of the number of stakeholders involved. The more stakeholders you have, the more time and work is involved in including them all in the conversation, development and feedback process.The creation of a comprehensive social media strategy in Australia costs anywhere between $3,000 and $20,000. The variance is based on the number of platforms included, the number of components of the strategy that are required and the size of the organisation. It’s very common for Australian agencies to charge between $5,000 and $10,000.

In some circumstances you can have a strategy retainer, this means that, even though the organisation is doing the management themselves, they may want strategic development and reporting to be done by external third-party experts. Something akin to an external auditor in an accounting firm.In this case, a social media strategy retainer in Australia can cost typically between $800 and $2,800 per month, depending on inclusions.

What is a ad cost analyze product–AdCostly can do for you?

It’s an Ad Cost Analytics Tool for Advertising.We have partnered with ad automation platforms and helped advertisers, marketers, and agencies to monitor real-time advertising campaigns spend key metrics trends.

On Facebook, most ad costs are measured in cost per click (CPC) or cost per thousand impressions (CPM).

With ad campaign objectives like Traffic, you would typically pay per click, while for objectives like Brand Awareness you would pay per thousand impressions.

ADCostly supports cost analysis of different period, area, placement, and CTA. You can filter data by your needs. AdCostly helps us create cost less ad and control ad budget.It can provide average CPM,CPC,CTR,CPA,audience,campaigns analysis to you.

3 Ways to Determine the Cost of Social Media Marketing

1.DIY

While there’s a definite learning curve to social media marketing, you can certainly do it on your own. It requires a lot of research, and you’ll have to carve out some time in your schedule to make sure you keep at it. Basically, when you’re doing it yourself, your biggest obstacle is just sticking with it.But that doesn’t mean it has to be difficult. You can find affordable, subscription-based services to automate social media marketing so you hardly have to think about it.

2.Outsourcing on a small budget

Working on a small marketing budget is hard, but small businesses have to do it all the time. If you have enough money to outsource your social media marketing, there are many affordable options at your fingertips.

First, you need to find an agency. Agencies have a lot of different packages and pricing models that are based only on their estimates, as opposed to industry standards. The reason that happens is because, unfortunately, there are no established pricing standards for social media.

That means you’ll have to shop around and do some research to find an agency in your price range that also has a good reputation. That can be a hard combination of qualities to find, but finding the perfect agency for your business is entirely worth the time spent.

Sometimes, you might just find an agency that you like, but their prices are too high. If that’s the case, it couldn’t hurt to contact them anyway to figure out if they can work with you on prices, alternative packages, or deals that they may not publish online. All it takes is a phone call, and the results could be a huge benefit to your company.

3.Outsourcing on a big budget

If you work for a company with a big budget, you have all the options in the world. If you want to take a chance on a higher-priced agency on the chance that they turn out superior results, you can definitely do that. And if you want to make every dollar count with a smaller, less expensive agency, you can do that, too.The most important thing to remember when you have a limitless budget is that you need to do your research. Disreputable agencies will get dollar signs in their eyes when they hear you don’t have a budget cap, and they’ll recommend you take on everything they offer so they can get as much money out of you as possible.

A sensible agency, on the other hand, will hear that you have a large budget and still ask you about your goals. They’ll ask about your company history, what you’ve tried, what your niche is, your past marketing successes, your past marketing failures, and more. Basically, the fact that you have a big budget won’t make a difference to a good agency — they’ll be focused on getting you the best results possible.

Summary

We conducted a detailed analysis of the ads’ average cost data of advertising in the first quarter of 2020 in different dimensions, and at the same time, we gave specific strategies for everyone to improve CTR, hoping to help everyone in advertising marketing. Of course, the indicators we are concerned about are not only CTR, we also need to pay attention to the situation of CPC and CPM. If you need to know the situation of CPC, you can check this article. More useful content will be brought to you in the next blog.