Social Media Marketing (SMM) refers to the process of marketing a particular business, product and/or service on social media platforms with the aim to build brand reputation and increase the online visibility, sales and leads to that business. It involves identifying and connecting with the target audience for brand promotion.
Social media marketing can help your Melbourne-based business in many ways. For one, social networking sites host millions of daily active users, so it can be the best place to find and connect with your target audiences. Also, a study shows that consumers research on social sites about a brand before buying from it, so it can be beneficial to have a strong social media presence for your business.
When marketing on social media, you have two options:
1) Do it yourself or
2) Hire a social media expert.
Both these options have their pros and cons, which will help you decide which one is the best suitable for you.
The cost of social media marketing is an important factor to consider when hiring such services. The marketing cost may depend on a number of things, including the service/agency type and the platform.
Planning to hire a social media agency?
Here is a detailed explanation of how social media marketing cost works to help to make the best choice.
Social Media Marketing Cost by Provider
Cost of Doing Social Media Marketing Yourself
Of course, the first option that any company or business will consider is to do the marketing on their own. But, let me ask you a few questions.
Do you have the expertise needed to market effectively on social media?
Do you have the time to do it?
Unless you’re a social media expert or have a good understanding of how SMM works, it is better to leave the job to experts. In many cases, it just ends up taking a lot of your time and effort and results in nothing, if you choose to do it yourself.
On the other hand, if you happen to be a social media specialist and have the time to manage it yourself, the primary cost will be of paid campaigns that you run on social networking sites, such as Facebook Ads, LinkedIn Ads, etc.
Cost of Hiring an In-House Social Media Team
Another option that might seem the best in your situation is to hire a full-time, in-house team of social media experts.
Now, that would work brilliantly if you have the money and time to find, hire and manage an in-house team. And of course, this will be the costliest option since you will have to pay a fixed salary to the team members, irrespective of the number of hours you actually use their services.
Managing an in-house team involves making plans, setting goals, tracking results and much more. If you can’t manage the team by yourself, you’ll have to hire a dedicated manager, which will cost extra.
The estimated yearly cost of inhouse social media team: $65,000 – $120,000
Cost of Hiring a Social Media Marketing Expert or Volume Provider (Freelance basis)
Hiring a social media person on a freelance basis is, or as it may seem like, the best option when you’re tight on budget and do not have the time or expertise to do it yourself.
But, you may be wrong.
There are many freelance social media specialists in Australia, so you will not find it difficult to hire one. These experts may or may not be associated with an agency and provide services as an independent contractor.
The benefit of hiring a freelance social media person is, of course, the low cost. The average monthly cost of hiring a social media expert may be in the range of $200 – $1,000.
But, it’s not all rosy. There are some disadvantages too with this kind of service. For one, the work done by a social media freelancer can be of poor quality (duplicate content, etc.) since you do not have a lot of control over them. Second, you cannot expect timely delivery with them and they will always be ready with excuses.
Cost To Outsource a Social Media Marketing Agency
When you’ve exhausted all the other options, the final and probably the best option is to hire a professional and reliable social media marketing agency. Again, you have two options here:
- A full-service social media marketing agency
- A specialist social media agency
Outsourcing a full-service or specialist social media marketing agency is beneficial for many reasons.
Being in the field for many years and having experience with multiple businesses in the industry, these agencies are capable of delivering the best strategies, solutions and results for your business. Second, they have all the resources (team, technology, etc.) and expertise that you may need to effectively promote your services/products on social media.
Also, you can trust them for quality services, including on-time delivery and on par customer support, since these companies care about maintaining their reputation through good quality work.
Of course, the price of such services may be a bit higher than the other options. But it’s certainly worth it and definitely one of the best social media marketing options for those who can afford it.
Depending on the company and your project requirements, you may get the option of working with either a single social media specialist or an entire team. Just make sure to hire an agency that has good client testimonials and is able to connect with your business.
Estimated Monthly Cost To Outsource a Social Media Marketing Agency: $1,000 – $20,000
Social Media Marketing Cost by Platform
Besides the marketing team and resources, the other deciding factor in the cost of social media marketing is the platform type.
Here is a general breakdown of the costs of marketing on different social media channels/platforms:
Facebook marketing cost (monthly) in Melburne, Australia
- Facebook page set-up & optimization: $1,000 – $4,000
- Management & training: $3,000 – $15,000
- Community marketing & management: $800 – $4,000
Instagram marketing cost (monthly) in Melbourne, Australia
- Instagram profile set-up & optimization: $200 – $2,000
- Team training: $800 – $5,000
- Marketing & management: $1,500 – $8,000
LinkedIn marketing cost (monthly) in Melbourne, Australia
- LinkedIn profile set-up & optimization: $1,000 – $5,000
- LinkedIn marketing training: $3,000 – $18,000
- LinkedIn Marketing & community management: $2,000 – $15,000
Twitter marketing cost (monthly) in Melbourne, Australia
- Twitter profile set-up & optimization: $100 – $3,000
- Team training: $3,000 – $8,000
- Twitter Marketing & management: $2,000 – $15,000
Pinterest marketing cost (monthly) in Melbourne, Australia
- $600 – $1,200 per month
Snapchat marketing cost (monthly) in Melbourne, Australia
- $1,000 – $3,000 per month
YouTube marketing cost (monthly) in Melbourne, Australia
- $200 – $20,000 per month
Social Media Marketing Cost with Proven Digital Marketing Melbourne
Rather than choosing individual social media services and paying separately for each service (as above), you can choose our flexible social media marketing package that covers all these services at very affordable prices.
Social Media Marketing Package inclusions:
- Facebook marketing
- LinkedIn marketing
- Twitter marketing
- Instagram marketing
Social Media Marketing Package Cost: $800 to $2,100 per month
Proven Social Media Marketing Solutions
From what I have learned, social media marketing can be really expensive or moderately affordable, depending on the kind of agency (or freelancer) you choose.
We, at Proven Digital Marketing Melbourne, provide the best quality social media marketing strategies, services and solutions to fit your specific business needs and meet the goals at highly competitive rates.
Our standard social media marketing package covers everything, from Facebook, Twitter, Linkedin and Instagram marketing services, and the price ranges between $800 to $2,100 per month, depending on the specific requirements of your project.
We will also offer a free audit for your social media project or campaign. To hire a social media specialist or to consult with an expert, give us a call at 1300 160 807.