Social media marketing has become imperative for businesses that are looking to connect with their audience and stay competitive. However, managing it effectively can be time-consuming and requires specific skills, which is why many companies are choosing to outsource instead of handling it in-house.
So, how much does it cost to outsource social media marketing?
The cost varies depending on several factors, and knowing about these will help you make an informed decision whether outsourcing is for your company or not.
Today, we are going to explore these factors to let you see how outsourcing and using fractional marketing services can fit into your overall strategy.
Key Takeaways
Outsourcing social media marketing offers flexibility and scalability, with costs ranging based on services and business needs.
Small businesses can expect to pay $500 to $2,500 per month, while larger enterprises may spend upwards of $10,000 monthly.
The right pricing model, whether hourly, retainer, or project-based, depends on your specific social media marketing goals and budget.
Factors That Influence the Cost of Outsourcing
Several elements influence pricing, and these vary greatly depending on your specific needs and goals.
The scope
The range of services you require plays a significant role in determining social media marketing costs. Basic social media management might include account monitoring and posting, while more comprehensive packages could involve content creation, community management, analytics, and social media ad campaigns.
Naturally, the more extensive the services, the higher the cost.
The platform
The social media platform you post on affects the price. Some platforms may also require more specialized content, which can increase the overall budget.
Managing a presence on multiple platforms like Facebook, Instagram, LinkedIn, and Twitter also requires more time and resources, leading to higher social media management costs.
The frequency and volume
How often you post and the volume of content needed can drive up costs. A robust social media strategy with daily posts across several social media channels will naturally cost more than a strategy that focuses on fewer, more impactful posts.
The frequency of posting can affect not only social media management pricing but also the content creation and social media management services cost.
The level of expertise
The experience and skill level of the social media marketing agency or freelancer you hire is another important factor. An accomplished agency with a solid record in social media marketing and expert competency in digital marketing strategies will command higher fees than a less experienced provider.
However, an investment in a more experienced firm or freelancer can lead to better results and more effective social media marketing efforts.
The level of customization and strategy development
A comprehensive strategy includes content creation, audience targeting, and detailed analytics, all of which require time and effort that drive up the overall cost. Customized campaigns that cater to specific goals, such as boosting sales or driving community engagement, also tend to be more expensive due to their specialized nature.
Pricing Models for Outsourcing Social Media Marketing
There are different pricing models you can choose from when outsourcing your social media services. Choose the best fit for your business and marketing budget.
Hourly rates
Many social media marketing agencies and freelancers charge by the hour. This model is often used for smaller projects or when you need occasional support. The hourly rate varies based on the social media marketing agency’s experience, location, and the complexity of the work.
Social media managers or strategists may charge anywhere from $50-$200 per hour, which will depend on their expertise and the social media management services required.
Monthly retainers
A common pricing model is the monthly retainer, where you pay a fixed monthly fee for a set range of social media management services. This model provides consistent support for your social media presence and typically includes a combination of social media strategy development, content creation, community management, and regular reporting.
Monthly retainers can range from $1,000 - $10,000 or more, depending on the scope of services and the size of your business.
Project-Based Pricing
For specific campaigns or one-off projects, social media marketing agencies may offer project-based pricing. This model is ideal for social media campaigns like a product launch or a time-limited ad campaign. The cost depends on the project’s complexity, duration, and the number of social media platforms involved.
Social media marketing costs for project-based work range from a few thousand dollars to tens of thousands, depending on the project’s scope.
Performance-based pricing
A less common but increasingly popular model is performance-based pricing, where the cost is tied to the success of the social media marketing strategy. In this model, agencies may charge based on metrics like engagement, leads generated, or sales attributed to the campaign.
While performance-based pricing can be a riskier option for agencies, it aligns costs directly with results, which makes it an attractive option for small businesses looking to maximize their advertising budget.
Typical Costs for Outsourcing Social Media Marketing
Outsourcing social media marketing can vary significantly in cost depending on the size of your business and the level of service you require. Here’s a breakdown of typical costs:
Small businesses
For small businesses with tighter budgets, outsourcing social media marketing services usually ranges from $500 - $2,500 per month. This typically covers basic social media management tasks such as content posting on a few social media platforms, community management, and perhaps some social media advertising.
These budget-friendly options might include working with a freelance social media manager or a smaller social media marketing agency that offers more streamlined services.
Mid-sized companies
Mid-sized businesses looking for more comprehensive social media marketing solutions can expect to pay between $2,500 and $10,000 per month. This range generally includes a broader social media strategy, content creation, social media ad campaigns, and analytics across multiple social media channels.
Companies at this level might work with a well-established social media management agency that can handle more sophisticated social media marketing strategies and provide deeper insights through advanced social media management software.
Large enterprises
For large enterprises needing full-scale social media management, costs can start at $10,000 per month and go well beyond $20,000, depending on the scope of work.
This level of service typically includes a fully integrated social media marketing strategy that spans numerous social media channels, extensive content marketing, high-budget social media advertising costs, and continuous optimization of campaigns.
A large enterprise may engage with a top-tier social media marketing agency or media marketing firm that offers end-to-end management, from content creation to complex paid ads and community management.
The Value of Outsourcing Social Media Marketing
Outsourcing social media marketing provides several key advantages that significantly benefit businesses of all sizes.
Access to expertise
When you outsource social media marketing services, you gain access to seasoned professionals who are up-to-date with the current trends, best practices, and platform algorithms.
These experts know how to create effective social media strategies, optimize social media posts, and manage paid ads to maximize your reach and engagement across various social media channels.
Their deep understanding of social media marketing costs and how to allocate your ad spend effectively assures your social media marketing efforts are both efficient and impactful.
Time savings
Outsourcing social media management frees up valuable time for your in-house team, giving them more time to focus on core business operations instead.
Rather than spreading your team thin by trying to manage social media pages, create content, and monitor performance, you can rely on a dedicated social media agency or social media manager to handle these tasks. This streamlines your operations and guarantees your social media accounts are managed consistently and professionally.
Scalability
One of the significant upsides of outsourcing is scalability. If you’re a medium-sized business looking to expand your social media strategy or a smaller company needing to scale back during slower periods, outsourcing lets you adjust your social media marketing efforts according to your needs.
Professional social media managers can quickly ramp up your social media campaign during peak seasons or reduce efforts when necessary, providing flexibility without the overhead of a full-time in-house marketing team.
Measurable results
A good social media marketing agency will provide detailed analytics and reporting aside from managing your account to make it easier to measure ROI. Agencies use social media management tools for tracking the performance of their social media posts, monitor key metrics, and adjust strategies based on these data-driven insights.
This level of reporting helps you see exactly how your ad spend is being used, how many posts are driving engagement, and whether your social strategy is meeting your business objectives.
Comparing In-House vs. Outsourced Social Media Marketing Costs
When deciding between managing social media marketing in-house or outsourcing to an agency or freelancer, it's important to consider the full range of costs associated with each approach.
Direct cost comparison
Maintaining an in-house team for social media management involves paying salaries, benefits, and potentially overtime for a dedicated social media manager or team.
In contrast, outsourcing to a social media agency or freelancer allows you to pay solely for the services you need, which can be more cost-effective, especially for most businesses with limited budgets.
While social media pricing for agencies may seem higher upfront, it often includes comprehensive social media management packages that cover everything from content creation to paid advertising.
Hidden costs of in-house management
Beyond direct salary costs, in-house social media management comes with hidden expenses that are often overlooked. These include the costs of training your team on the latest social media management tools, purchasing software, and covering employee benefits like healthcare and retirement plans.
Additionally, the time spent recruiting and onboarding new team members can add to your marketing costs. On the other hand, outsourcing eliminates these hidden costs, as the agency or freelancer typically covers their own tools and training.
Long-term cost implications
In the long run, outsourcing social media marketing services can offer more scalability and flexibility and potentially reduce overall costs. An in-house team might be more cost-effective if you require constant, daily management and have a large volume of work.
However, outsourcing allows you to scale your social media campaigns up or down based on your business goals without the long-term commitment to full-time salaries.
Additionally, agencies often bring specialized expertise and can quickly adapt to identify trends, helping you stay competitive and boost your ROI over time.
Scale Your Social Media Efforts
Outsourcing your social media marketing offers numerous benefits for businesses of all sizes. Utilizing the expertise of a social media agency or professional social media manager can enhance your social media presence and effectively manage your social media channels without the overhead of an in-house team.
LeaseMyMarketing understands the importance of matching your marketing costs with your business objectives. Our tailored solutions help you achieve measurable results while staying within your budget.
If you're ready to explore how outsourcing with LeaseMyMarketing can help you achieve your goals, reach out for a consultation today. We’re here to help you find the best solution to boost your sales and grow your brand.
Frequently Asked Questions
How much does outsourcing social media cost?
The cost of outsourcing social media marketing varies on the scope of services you need. For most businesses, you can expect to spend anywhere from $500 - $10,000+ per month. This range covers everything from basic social media management to comprehensive strategies that include content creation, ad spend, and analytics.
The exact price will depend on your goals, the platforms you’re targeting, and the level of expertise required.
How much does it cost to hire a social media marketer?
Hiring a social media manager can cost between $3,000 and $7,000 per month if you’re looking for full-time support. For part-time or freelance help, the cost could range from $15 - $200 per hour, depending on their experience and the complexity of your social media marketing needs.
Keep in mind that more experienced professionals or those handling complex social media campaigns may charge on the higher end of the spectrum.
How much does it cost to market on social media?
Marketing on social media platforms can range from a few hundred to several thousand dollars per month. Your social media marketing cost will include factors like paid advertising (which could be as little as $50 per month or thousands, depending on your ad spend), content creation, and management fees.
The total cost really depends on how aggressive your social media strategy is and what kind of results you’re aiming for.
How much do marketing agencies charge for social media?
Social media agencies typically charge between $1,000 and $20,000 per month, depending on the services provided and the size of your business. For comprehensive social media services, including strategy, management, content creation, and sponsored in-mail campaigns, you’re looking at the higher end of that range.
The costs will also vary based on how many social channels you want to cover and the level of customization and reporting you need.
Commenti