How Social Media Marketing Is Cost Effective? Read more.

Most small businesses out there are careful about the kind of marketing strategies which they invest in. When you have a restricted marketing budget, it’s very important that you spend it wisely in order that you can get the most for your money. Social media marketing is cost effective. It’s also one of the most versatile strategies that small businesses can use to reach their targeted audience as well as boost sales over a particular period of time. That’s why 97% of marketers are using social media to reach their audiences.

Social Media Advertising Costs

Every single social media platform brings something different to the table. This means that not only the structure of your campaigns will be different for each network, but also the billing options and the social media advertising costs. So, in order to accurately gauge the average cost of social media advertising you need to consult the platforms that you want to advertise on.

How Much Does Social Media Marketing Cost?

To begin, let’s cover social media marketing. You need to make a decision regarding if you’re going to work on your social media marketing inhouse or if you’re going to outsource it altogether. If you’re planning on building – as well as managing – everything yourself, you’ll possibly need to invest approximately $30 to 100 a month (around R453 to R1 512) into social media management tools such as Hootsuite, Agorapulse, or Sprout Social. The big expense will most probably be time.

You’ll need to create your own content, keep up with regularly posting on social media, respond to mentions, network with influencers, and a whole lot more. This is clearly not the ideal solution as most business owners are frantically busy taking care of other aspects of their business. The other option is to outsource part of the task.

Content Creation

You are able to hire somebody online to create your content as well as manage your social media activity. Content creation can cost anything from $10 to $30 (around R151 to R453) depending on the format, length as well as topic.

If you are planning on publishing two pieces of content every week in order to share on social media, this could cost you $160 (R2419) per month. Hiring a writer will also cost you anywhere from $200 to $500 (R3024 to R7 562) per month if you use a freelancer. However, you will still be required to be the leader behind the marketing. You’ll need to take on the role of the project manager, creative as well as strategist. This still means that you’ll have to spend a substantial amount of your day on social media marketing.

That’s the reason why most businesses that which want to take social media marketing seriously end up working with a digital marketing agency. It can cost anywhere from $1 000 (R15 124) to $3 000 (R45 374) per month in order to have the agency to take care of your social media marketing. It’s frequently worth the cost if the agency specialises in social media marketing. They’ll already know what works, so they’ll be able to build your followers, engagement numbers as well as extend your reach.

Can Social Media Save A Business Marketing Costs?

Remaining within a budget is a difficult endeavour for many small companies. Owing to this, managing your small business essentially involves a lot of creative financial gymnastics as well as strategies to maximise your return on investments.

Luckily, the internet has grown to be a very powerful way to get the most out of your budget. In actual fact, if you discover how to optimise your lead generation marketing and viral marketing campaigns, you might find that you need a lot less cash than you thought you did to draw in customers on the web.

With its enormous reach and devoted core of loyal followers, Social media marketing may be the most effective way that you promote your business online without investing a tonne of money. Really, many small business owners have found this strategy to be revolutionary in the way they do business.

A recent survey of 462 small businesses found that the last few years have seen a quick increase in the amount of time and energy that these companies invest in social media.

According to the survey:

• Two-thirds of SMMEs are spending more time on social media than they did a year ago.
• Noticing substantial increases in the level of engagement they receive from social media-using customers, many organisation have begun putting in an hour a day or more promoting their brand online – 43% of respondents said they dedicate six or more hours to social media marketing a week and 25% of respondents reported the number as closer to 10 hours a week.

Get in touch with the Digital School of Marketing

Are you keen to study social media marketing? If you are then you need to do our Social Media Marketing Course. Follow this link to find out more.