If you’re starting a business and wondering, “Is social media marketing expensive?”, the answer is both yes and no. First, you’ll have to decide how much you’re willing to spend to reach the target audience. You can do it yourself or hire someone to do it for you. A monthly fee for a content creation service like Sprout Social is $89; if you need to manage more profiles, you’ll have to pay an additional $149. You can get positive results by making eight to ten social media posts a month, but you’ll have to increase your efforts to reach a higher number of audiences.
A social media strategy is only as effective as the return on investment of the advertising dollar. For instance, the cost per customer acquired through social media increased 41 percent in the second quarter of 2021 compared to the same period last year. New privacy laws, such as iOS14, make it more difficult to target consumers, and brands may have reached a saturation point on social media platforms. However, social media marketing can still be a great option for companies that have a limited budget or a lack of marketing skills.
You should keep the cost per ad low, especially if you’re a beginner in this industry. While you may want to spend as much as possible on a single post, you should keep the cost of the overall campaign at a minimum. Aim for a budget of $600, and do not forget to factor in overhead. Then, you can write a winning proposal and close new business.