Are you wondering what the actual cost of social media marketing is for your business?
I get this question A LOT! So I thought today I would break it down for you and share what the average costs for outsourcing your social media marketing is, AND how to determine what it’s costing you to do it on your own.
Let’s start with what it’s actually costing you to do this on your own (write, design, and publish your own content)…
You might be thinking “But Brittany, I am doing my own social media marketing, so it’s free!”
Sort of… if your time is worth $0/hour then that would be an accurate statement, but I’m sure you charge more than $0/hour to do work or sell your product?
Your hourly rate (x) how many hours/month = $xxx
If you don’t charge hourly, then you can take your average sales or salary and break it down to an hourly rate to get this figure.
Here’s how it looks for me: $95/hour billable agency rate x 2 hours/week to create/design/publish content = $760/month. That’s $760/month just creating content, this is not counting running ads or the cost for the actual ads, or time to engage with people on social media. This is just straight time to create and post content for my business.
So if I knew I needed to outsource this part of my business so that I could focus on other areas (say client consultation calls or revamping my website etc), then I would have a very good idea for what I should pay to get this done for myself based on what I am indeed ‘spending’ for myself to do it.
It might still make sense for you to do your own social media content marketing. It’s not until you think you could use your time better elsewhere that you should hire someone else to do this for you.
But when you’re ready, here’s some information about what freelancers and agencies might charge you to do this part of your marketing.
I always tell people that you can accomplish this in one of three ways.
- Number 1 is a jr. marketing assistant or part-time entry level team member. They can be in-house or they can be a remote worker and you can pay anywhere from $20/hour-$100+/hour depending on their experience and where they are located. Some overseas virtual assistants may cost much less and this is a way you can outsource this as well but you might find yourself investing more time in editing and proofing content until they get to know you and your business quite well.
- Number 2 is the small agency (like us at Empty Desk Solutions!). Small agencies charge anywhere from $90+/hour and usually have packages to choose from as well. Average costs range from $500/month – $2500+/month. The package prices vary widely depending on what deliverables are included and how many networks the content is being published one.
- Number 3 is the biggie agency! These are for the big dogs! Big agencies usually require a budget of $5000-$10000/month and up to work with you. This isn’t usually an avenue for small businesses.
So there you have it… social media content marketing cost can really be anywhere from your personal time investment to tens of thousands of dollars a month. The average small business owner we work with spends between $500-1500/month on their content marketing, just to give you an idea when you’re ready to start looking. Whether this investment makes sense for you really does have to be a decision you make when the time is right for you. If it feels right, go for it, if it doesn’t, it means it’s not time yet 🙂
And don’t forget, if you’re DIYing it, there’s so many amazing templates and memberships online that can help you do it faster! Confident with Content™ the Community is just one example, and I invite you to check it out if you are looking for a way to get your content done in a fraction of the time it takes you now.
Until next time – cheers! Have a great week!
PS: I’m looking for guests on the Lady Biz Cafe podcast! If you want to hop on and talk #MomLife #EntrepreneurLife and #SmallBusinessMarketing with me, please let me know – I’d love to have you!