So you’ve probably heard the terms “digital marketing” and “social media management” before. When it comes to promoting your brand, products or business, digital marketing and/or social media management are necessary for this digital age.
But with that comes at a price, and in this episode, we answer the question “Why do digital marketing and social media management cost so damn much?”
So Let’s talk about Social Media Costs…
Social media management is the process of creating, scheduling, analyzing, and engaging with content posted on social media platforms, like Facebook, Instagram, and Twitter. A social media manager may be employed by a brand, individual, or business to reach new customers online or to improve and maintain their reputation.
Social media managers are experts at handling social media activity, from responding to customer comments to developing a strategy on how to achieve long term marketing goals by publishing original content.
However, there are also social media management tools that give you control over your own strategy.
Social media management tools and services vary in costs, which is why it’s so important to get a tailored quote before you make a decision. Above all, you’ll want an accurate estimate of how much social media management tools and services will cost for the particular scale and needs of your business.
Most social media management tools charge by two important factors:
- The number of accounts you plan on managing
- and the number of posts you plan on scheduling in advance.
The beauty of social media management tools is your ability to schedule posts for Facebook, Instagram, Twitter, and even LinkedIn from a single platform. However, depending on how many accounts you’re looking to manage, the price could go up.
So why do you need it?
The primary purpose of social media management tools is to schedule posts in advance so you don’t need to perfectly time out your day to hit those peak hours. However, if you’re trying to take the “quantity over quality” approach, you might need to pay a little extra.
Even if you only have one account, some social media management tools will put a limit on the number of posts you can schedule in advance. The more posts you want to schedule, the higher the price, so make sure you take that into account when picking your tool.
And now more on that Digital Marketing…
Now when we say digital marketing, we mean a form of marketing that uses electronic channels especially the internet, to promote the product, services, brands and company.
Internet-based methods of digital marketing include content marketing, content automation, search engine optimization, search engine marketing, e-commerce marketing, social media marketing and lead generation.
However, non-internet based methods encompass marketing through radio, television, SMS, MMS etc.
No matter the size of your business, it’s important to research how much you should spend on digital marketing. Agencies vary in their digital marketing prices, but plenty claim that they offer extremely cheap rates — and that is what your company needs to look out for when looking at agencies.
In almost all cases, you get what you pay for in terms of digital marketing services. So “cheap” services often don’t drive the results you want.
That is why it’s critical to set a reasonable digital marketing budget. While several factors influence digital marketing budgets, like the size of your company and the scope of your project, the average digital marketing budget ranges from $30,000 USD to $145,000 USD per year for small to mid-sized businesses.
Keep in mind that digital marketing is an ongoing strategy, so your budget may change as you grow.
If you’re researching the cost of digital marketing services, you’re probably wondering what they even include. Some of the most popular services (due to results and Return on Investment or ROI) include:
- SEO (or Search Engine Optimization),
- PPC (or Pay-per-Click) Advertising,
- Content Marketing,
- E-mail Marketing,
- Lead Generation
- and Website Advertising.
SEO is the core digital marketing service for businesses today.
What the heck is SEO?
It refers to an umbrella of strategies for improving your online visibility in search results — in other words, it helps you rank higher in search results. With 80 per cent of consumers relying on search to find products and services, SEO is essential.
It’s also extremely beneficial, as the search engines have an average close rate of 14.6 per cent — meaning almost 15 of the leads you earn from search will convert.
And how about PPC Advertising?
PPC advertising is another popular digital marketing service. Like SEO, PPC also focuses on your online visibility. Unlike SEO, however, PPC improves your visibility in search results through paid advertisements.
These advertisements appear above organic search results and feature a green-outlined box that says, “Ad.” Unlike traditional advertising, the only time you pay for your ad is when a user clicks on it. This makes PPC a cost-effective option for many businesses.
Content Marketing will amaze you…
Content marketing offers an astounding ROI — it earns 54 per cent more leads than traditional marketing — making it an asset to your digital marketing strategy. Content marketing improves your brand awareness, conversions, and revenue through user-friendly content.
That content can include everything, from guides to blog posts to infographics. While different in their appearance, each type of content provides users value.
Email Marketing (one of our favourites here at DF Studios), has some great benefits…
One of the most cost-effective and time-tested digital marketing services is email marketing. This service also focuses on building brand awareness and brand loyalty, which lead to increased conversions and sales.
That is why email marketing offers an unparalleled ROI of $44 for every $1 invested.
Web Advertising shows that you can do so much more for your current site…
Web Advertising is one service that businesses often overlook when investing in digital marketing. Your website, however, has a significant influence on the success of your Internet marketing strategy. It can impact your rankings in the search results, as well as the first impression of users.
A brand-new website — or website redesign — also offers a noteworthy ROI. For example, if you invest in user experience (UX) testing, you can expect a $100 return for every $1 you invest. The best part about that statistic? More than 85 per cent of shoppers are happy to pay for a better user experience.
What else have you heard about Digital Marketing and Social Media Management?
So what other reasons can you think of why digital marketing and social media management cost so damn much? Let us know in the comments below. Don’t forget to subscribe to our newsletter to get more entertaining and informative blogs like this one and share this blog to spread the word.
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Take care and have an awesome day.