How Much Should You Spend on a Successful Social Media Strategy?

Most businesses do not have bottomless buckets of funds on hand to spend on social media marketing. One of the pressing issues many bloggers, businesses, and others have is how much does it cost to run a social media campaign. The costs will depend on the social network you use, the frequency of posting, target audience and other factors. Read ahead to get a general idea of how much you should expect to spend for marketing on the most popular social networks today.

Facebook Marketing

Facebook is the most popular social network currently available, so companies vigorously spend money on the platform. However, overall, marketing on Facebook is rather affordable. But it will depend on your needs and the marketing agencies your business might hire. The average amount most companies spend on Facebook marketing is between $2,500 and $5,000 per month. These numbers sometimes rise to $9,000. If you have more clients, you will have to spend more. Facebook marketing is a necessity for basically all B2C companies, so it’s worthwhile to spend money here.

Instagram Marketing

The Facebook-owned photo and video social network recently surpassed Twitter for reeling in lucrative advertising dollars. More people prefer Instagram over Twitter, so it’s worthwhile to spend good money here. You should expect to spend a minimum of $1,000 on Instagram. Fees can greatly vary when you count in the costs of photography. Buying stock photos may be cheaper than hiring a photographer for on-location shots. Plus, there may be other fees associated. For example, if you buy Instagram views, that’s an additional cost.

Twitter Marketing

You may be able to open a Twitter account for free, but marketing with it costs well over $1,000. Depending on the intensity of marketing, expect to pay somewhere between $1,000 and $7,500 per month on Twitter. If you outsource content creation and customer engagement, it would still cost somewhere between $2,000 and $4,000. Restructuring an existing business account for marketing purposes may cost an additional $1,000 and $2,500 per month. If you hire Twitter experts, these prices may vary.

SnapChat Marketing

SnapChat is rapidly rising as a formidable social network, much like Facebook. Marketing on SnapChat is a bit unconventional, though. SnapChat deletes the 14-second videos or images users send to each other. So, the money you spend is not exactly sustainable with photos or videos that are stored on other social media platforms like Facebook. You can conduct a good marketing campaign on SnapChat for about $1,000. But make sure that the platform is worth investing in beforehand.

Pinterest Marketing

Pinterest is an image tagging social network that’s a bit like an online scrapbook. It’s not as popular as Instagram but is worth checking out. Certain online marketers, like food bloggers and retailers, can get excellent ROI by investing about a $1,000 on Pinterest advertising. It’s worth spending that money only if your target audience aligns with Pinterest’s user base, which tends to be middle to high-income women.

The above cost estimates are the average or general required amount for marketing on the mentioned social networks. Fees can greatly vary depending on your company’s unique marketing strategy. So, before you decide to spend money, make sure the social networks can act as lucrative advertising channels for your company.

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