Social media is an essential tool for businesses wanting to bolster their online presence. At SM Agency, we recognise that in today’s digital age, engaging with your customers and promoting your products or services is paramount. However, determining the right price for a social media marketing package can be challenging, as social media marketing requires specialised skills, time, and resources. That’s why many businesses, like yours, seek our assistance in managing their social media platforms.
Digital marketing agencies offer a comprehensive range of services, from strategy and planning to execution and analysis. These agencies typically have teams of experts in various areas, such as content creation, paid advertising, and analytics. But, how much does social media marketing cost when hiring these agencies?
On the other hand, social media managers, whether employed or freelance, are individual professionals specialising in managing one or several social media platforms. These professionals can offer a more personalised approach tailored to a company’s specific needs, and their social media marketing price can vary based on their experience and specialisation.
The decision to work with an agency or an individual social media manager will depend on several factors, such as budget, specific needs, and company objectives. However, regardless of the chosen option, it’s vital to understand the cost of social media marketing, especially considering the average social media marketing cost in the UK, and what’s included in each package or service.
Social Media Marketing Costs: Management Fees
Freelancers or individual social media managers typically set their rates based on their level of experience and specialisation:
- Entry Level (£10-£40/hr): These professionals are usually starting in the social media world. While they might have basic knowledge of platforms and tools, they might lack experience in more advanced strategies or managing complex advertising campaigns.
- Intermediate (£40 – £80/hr): Intermediate-level freelancers have more experience and might have managed multiple accounts or campaigns. They possess a deeper understanding of tools and strategies and can offer more tailored solutions.
- Advanced (£100-£200/hr): These are social media experts with years of experience and a proven track record in managing complex campaigns and strategies. They might specialise in specific areas, such as paid advertising, data analytics, or content creation.
Digital marketing agencies typically offer customised packages or services based on client needs. Prices can vary widely, from £500/month to £12,000/month or more. Depending on the breadth and depth of the services provided. These might include strategy, content creation, paid advertising, analysis, and more. Agencies might also have access to more advanced tools and resources. Which can justify higher fees, especially considering the Social Media Marketing Cost UK.
Social Media Marketing Cost: How to Set a Fair Rate?
Managing social media is a multifaceted task that involves various aspects, such as content creation, interacting with followers, and analyzing metrics. Setting the right price for your services is crucial to ensure the sustainability of your business and provide genuine value to your clients. Here are some key steps to determine how to price your social media marketing packages:
Determine the scope of work:
- Before setting a price, it’s essential to clearly define what services you’ll offer. Will your package include social media strategy, content creation, post scheduling, community management, paid advertising, and results analysis? Once you’ve defined your work’s scope, you can estimate the time and resources needed for each task.
Consider the number of platforms:
- Not all social media platforms require the same effort. Managing an Instagram account, with its focus on images and videos, might be more labour-intensive than handling a Twitter account. Additionally, some businesses might want to be present on multiple platforms, while others might focus on one or two. It’s essential to consider the number and type of platforms when setting your rates.
Content quantity and creation:
- The posting frequency and content type can vary based on client needs. Will you post content daily or several times a week? Will you create content from scratch, or will the client provide images and other brand assets? Creating original content, especially graphic or video content, might require more time and resources, which should be reflected in the price.
Engagement and community management:
- Engaging with followers and managing the online community is a time-consuming task requiring communication skills. Depending on the audience size and the expected level of interaction, this aspect might be a significant part of your service package. Consider how much time you’ll dedicate to responding to comments, direct messages, and managing potential reputation crises.
Consider the value you’re creating for your clients:
- Beyond work hours and direct costs, it’s essential to consider the value your services bring to your clients. If your social media strategies and executions are generating a high return on investment for the client. In terms of brand visibility, engagement, or direct sales, your rates should reflect that added value. A value-based pricing strategy might consider factors like increased web traffic, lead generation, or sales attributed to social media.
At SM Agency, we understand that the world of social media marketing is dynamic and ever-evolving. Determining the price for a social media marketing package offered is a challenge we face with passion and dedication. We strive to offer a transparent and fair pricing structure that reflects our service’s quality and efficacy.
At the end of the day, a well-established price not only ensures our business’s sustainability but also builds a trustful and satisfying relationship with our clients. Like you, ensuring mutual growth in the competitive digital landscape. We invite you to get in touch with us for more information and to address any queries. We look forward to hearing from you and your company soon. Until our next post, we await you.