Social Media Management Pricing: 11 Factors to Consider

When it comes to social media management, price is often a top consideration for business owners. But how do you know what's a fair price to pay for social media management? What factors should you consider when making your decision? In this blog post, we will discuss 11 factors that will help you determine the right social media management pricing for your business.

What is social media management?

As a business owner, you may have come across the term “social media management” (SMM) and wondered what it is. Social media management is the process of creating and executing a social media strategy to grow your brand and engage with your target audience. This can include tasks such as content creation, community management, SEO, and paid social media advertising.

With social media management, you can:

- Grow your brand awareness

- Increase website traffic

- Generate leads and sales

- Boost customer engagement

- And much more!

Now that you know what social media management is, let's take a look at 11 factors that will affect the pricing of social media management services.

Social media management pricing: factors to consider

#1 Types of services offered

The first factor to consider when it comes to social media management costs is the types of services offered. For example, some social media management companies may only offer content creation and community management services, while others may offer a full suite of services that includes paid social media advertising and reporting.

The types of services offered will affect the price you pay in the end.

For example, if you decide to spend your marketing budget on creating a social media strategy from scratch and then are interested in your social media presence across various social media channels, you need to be aware that this will take more time (and thus, money) to execute.

On the other hand, if you are only looking for content creation assistance, this can be done relatively quickly and therefore may cost less. It all depends on your specific needs and goals – that's why, you should first recognize what social media platforms you want to involve in media management.

#2 Time commitment

The second factor to consider is the time commitment required. This will be affected by the number of social media platforms you want to use for your business, as well as the types of services you are looking for.

For example, if you only want help with content creation and you are only using one social media platform (such as Facebook), the time commitment will be lower than if you were using multiple social platforms and wanted help with relevant content creation, community management, influencer marketing, and reporting.

The time commitment required will also affect the price you pay for social media management services. Companies that require a higher time commitment will often charge more because they have to put in more work hours to complete the tasks.

So, if you're looking to save money on social media management, one way to do so is by narrowing down the number of social platforms you want to use and/or the types of services you need assistance with.

#3 Team involved

Another cost factor to consider is the team involved. Would you be happy with social media freelancers, or you want to get marketing services from a social media agency? Depending on their experience, social media consultants can offer you a lower price than a social media management company.

But, working with an agency has its perks too. You can get comprehensive services for your own business growth, often better overview of your social media campaigns, as well as other marketing services you can either buy extra or have included in your social media management pricing.

Also, you should recognize whether you need a social media marketer dedicated to your project, or you're fine with them having multiple clients under their wings.

#4 Project management and reporting

Social media management cost can also depend on whether project management and reporting are included in the package. Some companies include these services in their social media management pricing, while others charge extra for them.

Project management involves creating a timeline for tasks, setting deadlines, and ensuring that tasks are completed on time. Reporting includes providing you with regular reports on your social media performance so that you can see how well your campaigns are doing and identify areas for improvement. Luckily, there are many project management tools that will help you streamline this process.

Both of these services can be beneficial, but they will also add to the cost of social media management. If you are on a tight budget, you may want to consider hiring a social media freelancer or a company that does not include these services in their social media management pricing.

#5 Scope of collaboration

Do you only need a one off social media campaign, or do you want someone to work on social media accounts for your brand all the time?

This will affect the social media management cost because companies often charge differently for one-time projects and long-term contracts.

Long-term contracts usually have a lower hourly rate because the company can spread out the cost over a longer period of time. This means that if you are looking to save money, you should consider hiring a social media management company for a long-term contract.

They usually come with a dedicated account manager for your project. Even if this option of social media management packages seems to be pricey at first, it should be way cheaper over time.

Do you need social media marketing help for just a few hours per week or do you want someone to manage your accounts full-time? The number of hours required will affect the price you pay for social media management services.

Companies that require a higher time commitment will often charge more because they have to put in more work hours to complete the tasks.

So, if you're looking to save money on managing social media, one way to do so is by narrowing down the number of social media accounts you want to use and/or the types of social media services you need assistance with.

However, if you only need help with a one-time project, such as creating a social media marketing campaign for a new product launch, you may be better off hiring a social media freelancer.

#6 Social media account setup and optimization

Are you only starting with social media marketing, or you've been running your social media accounts on your own? If you are just starting out, you will need someone to set up your social media accounts and optimize them for your business.

This can be a time-consuming task, especially if you want to do it right. If you don't have the time or expertise to set up and optimize your social media accounts, it's best to use complex social media packages.

The good news is that many social media management companies offer account setup and optimization services as part of their SMM pricing.

This means that you can get help with everything from choosing the right social media platform for your business to creating profiles that accurately reflect your brand identity – without spending unnecessary advertising dollars on internet marketing tactics that don't work.

If you're not sure whether you need help with account setup and optimization, ask the social media management company for a consultation. They will be able to assess your current social media presence and make recommendations on how you can improve it.

#7 Content creation and curation

You need content for your social media pages. This can be in the form of blog posts, articles, infographics, images, videos, or anything else that will help you connect with your target audience.

Without content, how are you going to reach all these Twitter users or run successful social media ads?

Some social media management companies will create content for you as part of their social media management packages. Others will curate content from around the web that is relevant to your industry.

If you decide to go with a social media management company that offers content curation, make sure they have a good understanding of your business and what kind of content would be most relevant to your target audience.

The last thing you want is for them to start sharing articles about fashion tips when you sell financial software. It just doesn't make sense.

When it comes to content creation, you should also consider the frequency of your updates. How often do you want to post new content? If you're not sure, ask the social media management company for their recommendations.

They will be able to create a content calendar that outlines when and what kind of content should be posted. This will help ensure that your social media pages are always updated with fresh, relevant content. And you? You just need to watch your account growth.

#8 Experience and expertise

When researching social media services, you should check proven track record of social media managers and agencies.

Do they have experience working with businesses in your industry? Do they understand the nuances of social media marketing? Can they provide case studies or testimonials from other satisfied clients?

These are all important factors to consider when choosing the right social media marketing package. You want to make sure you're working with someone who is an expert in their field and who has a proven track record of success.

You don't want to hire someone who is just starting out and doesn't really know what they're doing. This could end up costing you more in the long run as they trial and error their way through your social media accounts. And in turn, social media marketing cost can dangerously increase.

The bottom line is that you want to make sure you're working with a social media management company that has experience and expertise in your industry.

Otherwise, you could end up wasting your time and money on a service that doesn't really deliver results. And you may be having a monthly package with an agency without understanding paid advertising, or business model you offer.

#9 Community management and engagement

Social media manager is responsible not only for posting over social media networks, or running digital marketing campaigns – they should also invest their resources into community management, often on more than one network.

It means they should interact with followers, answer their questions, post engaging content on a daily basis.

A good social media management company will be able to help you grow your community and engage with your target audience. They will also be able to monitor your social media pages for any negative comments or feedback and take care of it quickly.

Of course, this will be reflected in their pricing model – if they need to handle comments on one social platform apart from their regular campaign management, this may require a custom package.

#10 Your input

Do you want to be in touch with current and potential customers, or do you want to outsource it to anyone who is going to publish social posts and create an advertising campaign on your Facebook page or Twitter account?

If the latter, you'd probably want to give some input to a social media agency or specialist you're working with.

It's important to understand that most of the time, social media management companies will need some kind of guidance from you in order to create content that is relevant to your business and target audience.

They can't read your mind, so it's important that you provide them with some direction. Otherwise, you may not be happy with the results.

So, if you're looking for a social media management company, make sure to ask them how much input they need from you in order to create an effective social media marketing campaign.

This will give you a good idea of how much work you'll need to put in and whether or not you're comfortable with that – and of course, how much you'd have to pay for social media marketing packages with them.

#11 Using tools

Sometimes, social campaigns or digital marketing activities are run by tools. If you want to know what does social media management cost, in some cases it might be just a subscription for such software.

It's important to understand that most of the time, social media management companies will need some kind of guidance from you in order to create content that is relevant to your business and target audience.

Even if you maintain a flat rate price sheet with your social media marketer, you may find that you need to supplement their services with some tools in order to get the most out of your social media marketing campaign.

So, if you're looking for a social media management company, make sure to ask them what kind of tools they use and whether or not you'll need to pay for any additional software.

Usually, it's not even added to pricing packages businesses spend money on. It works towards meaningful relationships between the agency and the client, but it does not always have to be the case.

For example, social media managers may want to use tools like FeedHive for better social media advertising.

Put your social media marketing campaign in the right hands

Do some research on social media management companies before hiring one. There are a lot of factors to consider, and you want to make sure you're getting the best bang for your buck.

Check out their track record, case studies, testimonials, and reviews before making your final decision.

And of course, don't forget to ask about their social media management pricing packages! We hope this article helped you understand the different factors that affect social media marketing prices. Good luck!

Social media management pricing: frequently asked questions

#1 What other factors do you think are important to consider when determining social media management pricing?

When determining social media management pricing, some other important factors to consider include the size of your team and your budget.

If you have a large team, you will likely need to pay more even for a single social media manager. Additionally, if you have a limited budget, you may need to choose a less expensive pricing model.

#2 How much does a social media manager charge for a single advertising campaign?

The cost of a social media manager for a single advertising campaign can vary depending on the scope of the project. A smaller campaign may only require a few hours of work, while a larger campaign could require several weeks or even months of work. It's best to start with a sales call or consultation to get an estimate of the project. Even a short catch up can show you what kind of value a social media manager can bring to your business.

When you're considering social media management pricing, it's important to keep in mind the different factors that will affect the cost. By understanding these factors, you can be sure to get the best possible value for your money and have bespoke social management in place, without any bill shock at the end of the month.

#3 How much does it cost to hire social media managers to manage my social network?

The cost of hiring social media managers to manage your social network can also vary depending on the size and scope of the project. If you only need someone to post updates and monitor comments, you may be able to find a freelancer for a few hundred dollars per month.

However, if you need someone to develop and execute a comprehensive social media strategy or run advanced Twitter ads for boosting your recurring income, you may need to hire a full-time social media manager or an agency.

When you're thinking about social media management pricing, it's important to keep in mind that the price is not always indicative of quality.

There are many factors that go into social media management, and a higher price does not necessarily mean better quality. Instead, you should focus on finding a social media manager or agency that has a good track record and is a good fit for your specific needs.

#4 What contributes to social media advertising packages?

The cost of social media advertising packages can vary depending on the size of your budget and the scope of your project. Generally, you will need to pay for ad spend, which is the amount that you are willing to spend on ads. Additionally, you may need to pay for a management fee, which covers the cost of the agency or a social media manager managing your account.

In many packages, you will also need to pay for software fees, which cover the cost of any tools or software that the agency needs to manage your account.

Finally, you may also need to pay for additional services, such as content creation or graphic design. There is nothing like working with an agency that understands your needs and can provide you with a comprehensive social media management package.

#5 How to choose the best social media management services?

The best social media management services are those that can provide you with the most return on investment. When choosing a social media management company, make sure to ask about their track record, case studies, testimonials, and reviews.

Be sure to ask about their social media management pricing packages before you hand over your hard-earned cash.

By taking the time to do your research, you can be sure that you are getting the best possible value for your money.

#6 What is the social media management pricing for big companies?

The social media management pricing for big companies can vary depending on the size of the company and the scope of their project.

Generally, bigger companies will need to pay more for social media management services because they have a larger team and a bigger budget.

Additionally, if a big company needs someone to run a more complex social media campaign, they may need to pay more for those services.

While it may not be possible to get an exact quote without a consultation, you can use the information in this article to get a general idea of social media management pricing for big companies.

#7 What tools should a social marketing agency use?

When choosing a social media marketing agency, you should ask about the tools that they use. Some of the most popular social media management tools include FeedHive – it can help you manage your social media accounts, schedule posts, track analytics, and more.

Many agencies also use custom-made tools or software to help with social media management. If you are working with an agency, make sure to ask about the tools that they use to see if they are a good fit for your needs. It's nothing wrong to ask them about their tech stack – and it will give you some idea as for how they work.