That’s a great question, but it’s almost unanswerable because it depends on so many variables. How large is your organization? What networks fit your audience? What content marketing vehicles will be used—blogs, videos, white papers, case studies, and images, and how often will they be posted?
Where to Begin
Developing an SMM strategy and gaining an idea of cost begins with understanding who your brand is trying to reach, and how to use SMM to reach your audience.
- Purpose – Knowing what SMM should cost begins with understanding your purpose. Is it to generate new leads, branding, customer service, or something other?
- Audience – Knowing who your target audience is and how they consume information is critical. Who uses your product or service and where do they engage on social networks? Are they more likely to read a post on Facebook, a blog on LinkedIn, or link back to a video posted on Twitter?
Who should manage your SMM?
Both in-house and outsourced SMM management have advantages as well as disadvantages.
In-House SMM Advocate – This person must be passionate about social media, attempting to force someone to add SMM to their job description may not bring the desired results. The SMM manager, whether developed or hired from the outside, needs the time and the training needed to achieve the desired results. How much time should your company spend on social media? The training should include social media best practices as well as the organization’s mission, brand, and SMM expectations.
How much will it cost? According to Salary.com, the bottom 10% of SMM managers in America average $58,919 while the median is $105,802. “The annual salary for someone with the job title Social Media Marketing Manager may vary depending on a number of factors including industry, company size, location, years of experience and level of education.”
Outsourced SMM Expert – Outsourcing SMM management has the advantage of working with experienced social media specialist that stay up to date and on top of social media strategy. However, the SMM provider has the disadvantage of not knowing the inner workings—the heart of the organization. It’s key to bring any SMM vendor into the brand fold.
How much will it Cost? Cost is somewhat ale carte, but here’s one example from The Content Factory, “…clients pay between $5,000 and $8,000/month for Web content writing and content marketing, PR, and Social Media marketing.” Once again this will vary by the amount of content generated, the number of networks engaged, and how often content is disbursed.
So…How much should you Spend?
Our best answer is—it depends. Hubstaff shares this, “A decent Social Media Manager will cost you in the region of $50k-$70k per year…” An agency may cost even more. Other costs to consider include web development and maintenance, graphic design, and maintaining a unified brand. What’s best for you and what will it cost? We don’t know, but we’d be happy to discuss it and that’s free. Contact Us.