How Much Does Social Media Management Cost?

The importance of a dedicated Social Media Management resource within businesses of all sizes has become increasingly noticeable over the last few years. Social Media will often be the first exposure prospective customers have of a business, and therefore any Social Media presence must be on-brand. Therefore, a business must ensure their Social Media is managed efficiently by a professional, whether this is in-house or outsourced to an agency or freelancer.

 

What Is Social Media Management?

Social Media is a platform businesses can utilise to engage with existing customers and also where customers will turn to for quick replies or, in some cases, to complain. Social Media Management isn’t merely posting content across several platforms; it’s the strategic planning, executing and analysing of Social Media strategies as well as maintaining engagement and conducting social listening.

It’s often found within a business that employees are part of an overall Marketing Department, not just focused on Social Media. As much as a business’s Social Media strategy should align with their overall Marketing Objectives, it’s very much its own area of expertise.

Within Marketing, you’ll find professionals have different strengths and weaknesses, whether that’s copywriting, analysis or SEO, for example. Social Media Management tends to take on various roles but with an underlying understanding of each platform, feature and algorithm. Essentially what we’re saying is Social Media Management is a full-time role in itself and should therefore be treated as such.

 

Social Media Management Costs

There are two options for Social Media Management, the first being hiring someone to manage your platforms in-house, and the second is outsourcing to a freelance professional or agency. The price of Social Media Management will therefore depend on which option you choose.

In-House Social Media Management

Suppose you were looking to hire someone, or perhaps promote within your existing team. In that case, the salary will be dependent on a range of factors — for instance, a business’s location, sector and type of organisation. Furthermore, an employee’s experience and education level will also impact their wage.

Businesses often delegate Social Media Management to a junior position, which will mean a reduced salary. As with any role, the higher the position, the greater the wage. If you are hiring in-house, you may also need to factor in the cost of third-party scheduling platforms and potentially the cost of graphic design depending on the employee’s skill set.

Outsourced Social Media Management

Agency and Freelancer rates often depend on how much workload will be coming their way. Some will charge by the hour or preset a certain amount of work to be completed each month and agree on a set fee. If you’re unsure how much work there will be to start, it could be worth choosing an hourly rate initially.

However, a set amount with clearly outlined requirements will likely be most cost-effective.

One of the benefits of outsourcing your Social Media Management will be Agencies and Freelancers often absorbed any third-party platforms’ cost and are more likely to have an advanced and expansive skill set.

Agencies or Freelancers will also be able to use the insight gained from clients in similar sectors to support a business’s Social Media Strategy.

 

How Much Time Goes Into Social Media Management Per Month?

One factor that may influence a business’s decision to hire or outsource will be the amount of time they think their Social Media Management may take month by month. If a business has several Social Media accounts or sub-brands, for example, the time spent creating, posting and reviewing content will be more significant.

Social Media Management is rarely a 9-5, Monday to Friday role as areas of the work, such as Social Listening, will be dependent on the customer and no preplanning or scheduling will cover it. Social Listening is the act of monitoring Social Media platforms for discussions about or related to a business’s products, services, or brand and tracking their competitors’ activity.

Social Listening also includes monitoring the engagement from followers in comments, tweets and shares to ensure brands are responding to questions, complaints and even general chit chat!

Another element to Social Media Management is being responsive to the latest trends and events happening in real-time. Therefore, you may find the hours put into Social Media Management changes significantly one month compared to the next but, over a few months, you can work out an average. Wherever your Social Media Management lies, it needs to be with someone flexible and reactive.