Have you been wondering what the actual cost of social media management is? You might be considering social media management for your business because you may lack the time to handle your marketing efforts or don’t have the expertise to do it effectively.
As you explore your options, you’ll notice that many agencies offer social media management services, but their prices can be elusive or vary widely. So, how much does social media management really cost?
The answer isn’t straightforward. That’s not us trying to be secretive; the cost of social media management depends on several factors. At Freshbat, we believe in being clear about our prices. However, we also understand that various elements can influence the costs of social media management and that not every agency publicly shares their pricing, so it’s difficult to know what the real costs are.
Let’s break down the key factors that dictate the cost of social media management.
Factors influencing the cost of social media management
1. Scope of services
The scope can include a range of services. The more services provided, the higher the cost.
Services might include:
- Community engagement
- Video editing
- Content creation
- Blogging
- Email marketing
2. Number of channels
Some businesses need support for one or two channels, while others require management across five or more platforms. The more channels you need managed, the more time and resources are required, thus increasing the cost.
3. Number of posts
Typically, there’s an agreed number of posts per month per channel. For example, you might agree on 8 or 12 posts per month. The number of posts will significantly impact the cost of your package. Be wary of services that don’t specify an agreed number of posts, as there’s no such thing as an ‘unlimited post’ package.
4. Levels of expertise and experience
The more experienced and skilled the agency is, the higher you can expect the prices will be.
5. Marketing agencies vs Freelancers
Your choice between a marketing agency and a freelancer also affects costs. Freelancers typically offer lower rates than agencies. However, an agency often has a team working on your account, providing a breadth of expertise that a single freelancer might not. Read our blog post to determine which option best fits your business needs.
6. Pricing examples
Freelancers: Typically offer lower rates and can start from as low as £25 per hour to as high as £70 but again, this varies on some of the factors above, especially the level of experience and expertise the freelancer has!
Agencies: Prices can range significantly, often starting from £300 and going up to £5,000 per month, depending on the above factors too.
Where do we stand?
The current investment for our social media management package (Elevate) is £750, and as the prices increase, so does the amount of work. Take a look at our list of packages as an example. We list each package with everything that you will get, which helps you understand why the prices are different.
We’ve also come across agencies online that charge as low as £199 per month but don’t offer services such as regular catch-ups or monthly reports, so be aware of this in your search. Without monthly reports and catch-ups, it’s difficult to measure the effectiveness of your campaigns and track progress. If you find social media management packages starting from £100, it’s probably best to run the other way…
However, it’s all down to what your business needs. Think carefully about the factors above and decide what exactly your business requires to help you make an informed decision about investing in these services. Whatever option you choose, ensure they are a good fit for you!
