Social media marketing costs involve factors such as the number of platforms, content types, and promoted posts and ads. For smaller campaigns, it can range from a hundred to a few thousand dollars, while larger-scale initiatives can require as much as $20,000 per month.
Table of Contents
- Social Media Marketing Cost by Platform
- Social Media Marketing Cost Factors
- 3 Tips on Maximizing Your Social Media Marketing Budget
- Most Effective Basic Tools for SMM
- Costs of Hiring a Social Media Marketing Agency
- Most Cost-Effective SMM Agencies
- Social Media Marketing Cost Takeaways
- Social Media Marketing Cost FAQs
Social Media Marketing Cost by Platform
Is social media marketing a worthwhile investment for your business? Let’s look at the budget requirements for social media marketing costs. While these expenses are unique to every company and social media marketing strategy, our experts can provide estimates to help you with budget planning.
Facebook: $2,500 to $9,000+ per Month
Facebook is one of the biggest and most prominent social media platforms, with over three billion monthly active users. Hence, marketers have a significantly high chance of reaching their target audiences.
Although creating and launching a Facebook business page is free, you can opt for paid ads to maximize your use of the platform. A single advertisement on Facebook is approximately $7.19 for every 1,000 impressions, covering clicks, likes, shares, and other user actions.
Average Cost Estimate: $2,500 to $9,000+ per month
X (Formerly Known as Twitter): $900 to $1,600+ per Month
Like Facebook, X (formerly known as Twitter) allows users to set up a free business profile. But if you want to effectively reach your intended audience, you should explore the platform's sponsored advertising and trending features.
Boosting a tweet costs approximately $1.35, after which it will show up on more timelines and generate more clicks, retweets, responses, and other interactions. This can drive more traffic and enhance your overall digital presence.
Average Cost Estimate: $900 to $1,600+ per month
LinkedIn: $2,000 to $4,000+ per month
LinkedIn offers several paid solutions to enhance your business relationships and increase your enterprise’s online exposure. The professional networking site allows advertising within the newsfeed or user profile through a preview image. This short-form promotion entices people to click, attracting more views to your page and engaging more visitors.
Moreover, LinkedIn lets you customize the size and sector of your advertisements according to the profile or position they are shown.
Average Cost Estimate: $2,000 to $4,000+ per month
Instagram: $1,000 to $1,600+ per month
Paid Instagram ads appear as sponsored content on consumers’ newsfeeds. Initially, these were exclusive to big brand names. But now, smaller enterprises can also take advantage of paid advertising on Instagram by linking their pages to Facebook ads management.
How much does social media marketing cost on Instagram? A popular sponsored post can cost around $7 for every 1,000 impressions while garnering a thousand views for a single video can cost as little as $3. Additionally, Instagram gives users the flexibility to pay for advertising weekly or monthly.
Average Cost Estimate: $1,000 to $1,600+ per month
TikTok: $1,000 to $50,000+ per Month
TikTok is the fastest-growing video-sharing app on the web, with 66% of its users under 30 years old. Generally, TikTok marketing can be more expensive than marketing on Instagram or Facebook.
There are several ways to market on TikTok, including:
- Collaborations with influencers
- Channel promotions
- Repurposed content from other social media platforms
- Hashtag challenges
- Paid advertising program
- Native advertisements
- Brand takeover advertisements
Average Cost Estimate: $1,000 to $50,000+ per month
Pinterest: $500 to $1,500 per Month
Pinterest is a unique inspiration-discovery platform that combines search engine functionality and social media features. It serves as a visual exploration engine that generates creative ideas for its users.
To market on Pinterest, you can group posts or pins into categories or boards and take advantage of these uploads through:
- Idea pins
- Try-on product pins
- Collection ads
- Carousel ads
- Promoted pins
- Shopping ads
- Product-rich pins
Average Cost Estimate: $500 to $1,500 per month
Snapchat: $1,000 to $3,000+ per Month
Like Facebook, Snapchat ad manager offers a lot of flexibility, allowing you to choose the marketing path that best suits your business. Social media marketing costs on Snapchat are spent directly on each ad placement.
The types of marketing on Snapchat include:
- Single image ads
- Video ads
- Collection ads
- Story ads
- Lenses AR experience
- Commercials
- Filters
Average Cost Estimate: $1,000 to $3,000+ per month
Social Media Marketing Cost Factors
Several factors can significantly impact the average cost of social media marketing. Let's delve deeper into each of these and see how they can make or break your budget.
- Number of Platforms You Use
- Content Type and the Number of Posts
- Online Competitions You Run
- Promoted Posts and Ads
- Competitor Analysis
- Optimization
1. Number of Platforms
The number of social media networks you utilize will impact your spending. If you're expanding your online presence, adding a new profile to your existing active account might seem like a logical next step. However, this may lead to higher expenses, especially if you're outsourcing your social media marketing.
In this case, agencies may employ another expert to manage your new profile, incurring supplementary costs for content generation, page monitoring, and other activities.
2. Content Type and the Number of Posts
Consistency is key in social media marketing, and increasing the number of posts leads to more engagement with your audience. If you have a skilled social media manager on your team, you can trust the work will be done right without breaking the bank. And don't worry about limitations as most social media automation tools won't restrict your posts, allowing you to get those likes and shares rolling in.
3. Online Contests
Sweepstakes and online contests are the ultimate conversion boosters that ramp up engagement and elevate your brand's visibility. Freebies and exciting prizes are inherently exciting, so people willingly share their vital information for the chance to win something valuable.
The rate for agencies to manage such campaigns ranges from $4,000 to $7,000, depending on the project's nature. Should you choose the DIY route, your costs will depend on the rules you set for the giveaway.
For instance, building a landing page for participant enrollment may require the expertise of a developer and designer, charging between $40 and $200 for the project. Additionally, contest management tools such as Buffer, Woorise, Wishpond, and Outgrow can also provide everything you might need to run a successful contest without starting from scratch and make the most of your social media marketing budget.
4. Promoted Posts and Ads
You can turn a popular post into an ad to reach a broader audience or promote your entire social media account. If you're working with a management agency and want to do this regularly, it will cost extra. The agency will charge based on your monthly ad spending, so keep that in mind if you plan to use this strategy on multiple platforms.
With a specialized team on your side, you won't have to worry about creating content, analyzing data, or even boosting posts. Plus, this convenient solution is especially useful if you're new to advertising.
5. Competitor Analysis
Competition in social media management (SMM) is fierce. To gain an advantage, you must understand what your rivals are doing on social media. This is where competitor analysis comes into play.
By taking a closer look at your competitors' social media activity, you can gain valuable insights into their strengths and weaknesses and uncover opportunities for growth. This information can refine your social media strategy, creating a unique voice and enhancing your brand. You'll also have a better chance of growing your online presence by taking calculated risks.
Some agencies charge up to $1,000 for this task. For instance, if you operate in the beauty and self-care industry, you can expect to pay even more due to the saturation of this market. Be prepared to invest to stay ahead of the game.
6. Optimization
An agency or a dedicated social media manager will dive deep into your marketing analytics, research competitors, and uncover your target audience’s interests and pain points. They'll align your content strategy to fit your audience's needs and scrutinize your branding activities.
Note that social media optimization is a process that requires time and patience.
3 Tips on Maximizing Your Social Media Marketing Budget
Here are some insights and tips to help you control your social media marketing budget wisely:
Tip #1: Perform Market Research
Market research is a crucial step for any successful marketing strategy. It involves gathering information about your target audience and understanding their needs. When it comes to social media marketing, this is no different.
Before you dive in and start building your social media presence, it's important to take the time to learn about who you're trying to reach and what they want. This will help you create content that resonates with your target audience and ultimately drives engagement and conversions. So, don't skip market research, as it is the foundation for a strong social media strategy.
Proper market research entails several key steps to ensure your brand’s success on social media:
- Identify the advantages that a social media presence can provide and how it aligns with your business objectives.
- Develop a preliminary outline of your marketing plan and the necessary activities to achieve your goals.
- Gather and analyze customer data, conduct competitor research, and utilize surveys to strengthen your social media approach.
With these steps, you can refine your social media marketing strategy and avoid costly trial-and-error scenarios, leading to a more fruitful outcome. Additionally, you can approach market research agencies to help you with this task.
Tip #2: Evaluate Content Performance
Developing a winning content marketing strategy for social media isn't an overnight feat. Even with a thorough understanding of your target audience and their preferences, your approach will inevitably require adjustments over time.
As your rapport with followers strengthens and evolves, your content choices should also align with their changing interests. The key to this is tracking engagement metrics to identify which tactics resonate most with your audience. The essential social media analytics tools for this are completely free to use: for example, Facebook provides insights and metrics into what appeals to your audience.
Consistently monitoring your social media marketing data can help pinpoint the content types that resonate best with your followers. This knowledge will help you craft future posts with precision and aid in your quest for cost-effective content creation.
Tip #3: Monitor Your Audience’s Activity Time
Utilizing built-in analytics tools, you can monitor your audience's activity and optimize your content accordingly. For example, if your analysis reveals a spike in engagement around 10 a.m., the most favorable window for posting lies between 5 a.m. to 10:30 a.m.
By staying on top of these trends, you'll prevent your hard-earned marketing dollars from slipping away.
Most Effective Basic Tools for SMM
Here are the best SMM tools that offer pre-scheduling and other essential marketing services:
1. Buffer
Buffer is one of the most popular SMM tools for marketers because of its comprehensive offerings that streamline SMM efforts and build an audience organically.
Its services include the following:
- Pre-scheduling posts
- Tracking analytics
- Monitoring engagement growth via user comments
- Creating mobile-friendly landing pages
Buffer’s mobile app is available for iOS and Android devices. Its customer support team is available 24/7 via email and social media, and its help center is regularly updated to address troubleshooting issues.
Buffer Pricing (billed monthly):
- Free – Individuals and businesses can use planning and publishing tools, the AI assistant, and the landing page builder for three channels.
- Essentials – Priced at $6/month for one channel, it includes all free features plus engagement tools and analytic reports.
- Team – Priced at $12/month for one channel, it accommodates unlimited users and includes all Essentials features plus draft collaboration tools.
2. Hootsuite
Hootsuite's social media tools help businesses drive results on multiple platforms, leading to higher conversions and broader audience reach.
Its features include:
- Automation for replies and social media captions
- Built-in Canva templates
- Universal social media inbox
- Data analytics
- Reputation monitoring
- Bulk scheduling
- And more
Hootsuite has over 22 million users in more than 175 countries. Its mobile app is available for iOS and Android devices.
Hootsuite Pricing (billed annually):
- Professional – $99/month for 1 user and 10 social accounts. Features include unlimited post scheduling and post boosting, custom analytics, a content calendar, an all-in-one inbox, campaign planning, and more.
- Team – $249/month for 3 users and 20 social accounts. All Professional features are included, plus team roles and permissions, calendar sharing, one custom-branded URL, and automated link tracking.
- Enterprise – Custom pricing for a minimum of 5 users and 50 social accounts. All Team features are included, plus automated engagement tools, unlimited ad spend, unlimited custom URLs, asset library, auto-responder, free Hootsuite Academy training, and more.
3. Sprout Social
Sprout Social is a unified social media management platform with a social amplification assistance feature on top of the regular analytics and scheduling functionalities. It enables social media marketing teams to drive revenue, strengthen market position, and drive real business value.
Sprout Social features include:
- Paid publishing resources
- Brand awareness development
- Employee advocacy
- Integrations with dozens of social networks and platforms
- Premium social analytics
- Influencer campaign management
- Advanced listening features
- And more
Sprout Social Pricing (billed monthly):
- Standard – $249/seat/month for 5 social profiles. Features include scheduled posts, a content calendar, paid promotion tools for Facebook, an all-in-one social inbox, review management, and data reporting.
- Professional – $399/seat/month for unlimited social profiles. All Standard features are included, plus custom workflows, content library, brand reporting, trend analysis, AI Assist, and paid reporting (Facebook, Instagram, X/Twitter, LinkedIn).
- Advanced – $499/seat/month for all Professional features, plus chatbots, smart inbox, CSAT and NPS surveys, CRM integrations, feature visibility, and scheduled reports.
- Enterprise – Custom pricing for all Advanced features, plus tailored team onboarding, professional consulting, and 24/5 prioritized customer support.
4. Canva
Canva is a comprehensive design tool that enables users to come up with professional visual marketing collaterals minus the need for technical skills. Its sophisticated tools and templates can help you create eye-catching and engaging social media posts in just a few clicks. You can use Canva on a browser or mobile device.
The platform boasts over 130 million monthly active users in 190 countries, who have created more than 15 billion designs.
Features include:
- Thousands of templates and visual assets for content creation
- Image enhancement tools
- Video trimming and conversion
- AI-powered creation
- Collaboration tools
- Design and print
Canva Pricing:
- Free – 1 million templates, 3 million design assets, 1,000 design types, AI writing and designs, and 5 GB of cloud storage.
- Pro – $15/person for all Free features plus unlimited templates, over 100 million design assets, 1,000 Brand Kits, AI tools, 1 TB cloud storage, social content scheduling, and online customer support.
- Teams – $10/month/person (minimum of 3 people) for all Pro features plus collaboration features, team reports, scalable assets, brand consistency tools, and AI admin controls.
- Enterprise – Custom pricing for all Teams features plus design approvals, custom apps and integrations, access to Canva template library, and priority custom support.
5. Later
Later Social enables easy management of multiple social media platforms for creators, small business owners, social media managers, and agencies. All paid plans include these features for at least one social set (Instagram, Facebook, X, Pinterest, TikTok, LinkedIn, and YouTube):
- Auto-publishing of static images, carousel, and reels
- Best-time-to-post analysis
- Visual planner
- Hashtag suggestions
- Scheduling posting of stories
Later Pricing:
- Starter – $25/month for one user and one social set. Features include 30 posts per profile, collaboration tools, and limited analytics.
- Growth – $45/month for 3 users and 3 social sets. All Starter features included, plus 150 posts per profile, brand collaboration tools, full analytics, and team/brand management tools.
- Advanced – $80/month for 6 users and 6 social sets. All Growth features included, plus unlimited posts, team collaboration tools, and live chat support.
- Agency – $200/month for 10 users and 15 social sets. All Advanced features included, plus content approval workflows.
Costs of Hiring a Social Media Marketing Agency
Hiring a social media marketing agency to handle your ad campaigns can provide several benefits. They have the expertise and resources to create targeted campaigns that are more likely to be successful, as well as the ability to continually optimize and adjust the campaigns based on data and performance.
An SMM firm can bill its services on a monthly or annual basis, depending on your business goals and the social platforms you use to reach your prospective clients. Their work for you can also be project-based instead of subscription-based.
Average Cost Estimate: $4,000 to $7,000 per month
Most Cost-Effective SMM Agencies
Discover the most cost-effective top social media marketing agencies that deliver outstanding results.
1. Kaizenzo Inc.
- Location: 95 Danforth Avenue, Toronto, M4K 1N2, Canada
- Average Hourly Rate: $100/hr
- Expertise: Marketing Consultation, Lead Generation, Brand Awareness, Analytics, Account Performance Management
Through continuous improvement, Kaizenzo Inc. builds results-oriented digital advertising and digital marketing campaigns for its clients. With its holistic approach and comprehensive goals, it takes pride in having zero churn.
Notable Kaizenzo Inc. clients include Nissan, Kia, Telcan, and SUKU Vitamins.
2. Joombooz Doo
- Location: Pasterova 16a, Nis, 18000, Serbia
- Average Hourly Rate: $30/hr
- Expertise: Social Media Marketing, Content Marketing, Video Marketing, IT Services, Web Development, SEO, PPC
Joombooz Doo comprises a team of creative experts in marketing, informatics, and graphic design working on marketing campaigns (content, advertising, social media, branding, etc.). The goal of the company is customer satisfaction and creating a long-term partnership. After all, the client and their wishes always come first.
Notable Joombooz Doo clients include Malstone Consulting, Prolog, and Safegenebalkan.com.
3. Jeff Social Marketing
- Location: 7b Pleasant Blvd Suite 1078, Toronto, M4T 1K2, Canada
- Average Hourly Rate: $50/hr
- Expertise: Digital Marketing, Social Media Marketing, PPC, Reputation Management, Press Release
Jeff Social Marketing’s wide range of services related to digital marketing includes web hosting, web security, web and graphic design, eCommerce, social media, marketing consultation, SEO, media relations, and crisis management.
Notable Jeff Social Marketing clients include Press Release Digital, Zoran Plumbing, and Marcrete.
4. Proleo.io
- Location: 473 Mundet Place, Suite: US489102, Hillside, New Jersey 07205, United States
- Average Hourly Rate: $100/hr
- Expertise: Social Media Management, Influencer Marketing, AMA/Podcast, and Social Media Support
Proleo.io has an international team of professionals working remotely all over the world to cater to clients. Its team helps cryptocurrency, fintech, NFT, and blockchain projects make powerful audience connections. The growing crypto public relations and marketing agency is driven by passionate thinkers who work closely with each brand to create crypto marketing strategies that produce unparalleled results.
Notable Proleo.io clients include VaporDEX, JPEGvault, and RH!noX NFT.
5. Paul Gregory Media
- Location: 50 S. Main Street, Suite 200, Chicago, Illinois 60563, United States
- Average Hourly Rate: $175/hr
- Expertise: Brand Identity, Social Media Management, Virtual Events Planning, Public Relations, Graphic Design, Copywriting, Videography, Photography, Web Design and Development
Paul Gregory Media (PGM) is a branding and marketing agency based in Chicago, Illinois, founded in 2006. It specializes in digital marketing, social media marketing, branding, and digital advertising. PGM has helped non-profit organizations with messaging, brand strategy, visual identity, and digital marketing.
Notable PGM clients include Habitat for Humanity of Illinois, Turning Pointe Autism Foundation, and Benedictine University.
6. Brandefy
- Location: 2633 Lincoln Blvd #406, Santa Monica, California 90405, United States
- Average Hourly Rate: $125/hr
- Expertise: Digital Marketing, Video Production, Video Marketing
Founded in 2011, Brandefy has quickly become one of the most well-known and trusted agencies in the industry, with a focus on creating high-quality video campaigns that produce real results. Its team of highly experienced professionals understands the power and importance of well-told stories, working closely with clients to create compelling, effective video campaigns that are tailored to their specific needs and goals.
Notable Brandefy clients include UCLA, the City of Los Angeles, AAA, and Unilever.
7. Brandignity
- Location: Naples, Florida 34103, United States
- Average Hourly Rate: $50/hr
- Expertise: Full-Service SEO, Social Media, Content, Paid Advertising, Custom Web Design
Companies of all sizes looking to build their brands and expand their markets rely on Brandignity for their expertise. This Naples, FL-based digital marketing agency builds the perfect packages for design, branding, and marketing services to suit client needs.
The agency provides a comprehensive approach to digital marketing that anticipates changes in consumer behaviors and maximizes the potential for growth.
Notable Brandignity clients include Salon Invi, RootSuit.com, and Osborne Homes.com.
8. Azency
- Location: 2035 Sunset Lake Road, Suite B-2, Newark, Delaware 19702, United States
- Average Hourly Rate: $125/hr
- Expertise: Design & Branding, WordPress Website Design, Digital Marketing, SEO, Social Media Marketing, Influencer Marketing
Azency is a one-stop shop for all things digital marketing. From website development and WooCommerce to Shopify migration, app development, branding, and digital promotions, its experienced and capable team is sure to deliver.
Notable Azency clients include Zhanes, Art By Gayatri, and EBike2U.
9. Blue Beetle
- Location: Unit No. ONE JLT-6-220 Level 6, One JLT, Jumeirah Lakes Towers, Dubai, 73463, United Arab Emirates
- Average Hourly Rate: $130/hr
- Expertise: Digital Marketing, Social Media Marketing, Online Advertising, Website Production
As consultants helping businesses grow, Blue Beetle designs and develops high-converting websites, helps drive relevant traffic, and converts that traffic into sales and revenue. Its unique strength is that its teams do all the work in-house — the quality and innovation that comes out of a well-bonded team that has been toiling together for years can’t be beaten.
Notable Blue Beetle clients include The Art Hotel & Resort, IEC Telecom, and Jubail Island.
10. Influocial Technologies
- Location: Mobile10X Building, Govt. Cyberpark, Calicut, 673016, India
- Average Hourly Rate: $24/hr
- Expertise: Digital Marketing, Social Media Marketing, Influencer Marketing, Branding, SEO, Website & App Development
Influocial Technologies has a dynamic structure that allows it to adapt without fissures or tensions, according to the client’s size. Its team is composed of connoisseur digital marketers optimizing channels to generate conversions with the least number of hits and clicks.
Notable Influocial Technologies include Figgy’s, The Tokyo Taro, and AL FAUZ.
Social Media Marketing Cost Takeaways
Social media usage has skyrocketed over recent years; it is vital for business owners and brand managers to understand these social networking sites’ impact and influence over their company’s online presence.
Along with robust knowledge of various channels, you should also have a good idea of the cost of social media marketing. Consider factors such as the tools you'll use according to your needs, the marketing channels you need, and who will execute the campaigns for you.
Social Media Marketing Cost FAQs
1. Is it better to outsource social media marketing or keep it in-house?
If you're running a small business with a limited social media marketing budget, it's worth considering an in-house social media marketing team. Not only does it give you more control, but it also allows you to maintain your unique style.
For larger enterprises, it can be a challenge for just a handful of employees to effectively manage and improve their social media presence, so enlisting the help of a dedicated agency can be beneficial.
2. Are there any tools I can use for social media marketing?
There are several options to help spruce up your social media presence:
- You can streamline your posting with: SocialPilot, Buffer, Tailwind, Planable, or Loomly.
- For content curation that goes the extra mile: ShareIt, Feedly, BuzzSumo, Quuu, or Curata.
- To dig into important analytics: Keyhole, Audiense, Brandwatch, Mention, Rebrandly, Upfluence, TapInfluence, NinjaOutreach, or HypeAuditor.
- For impeccable design for your posts: Instasize, Invideo, Canva, Lumen5, Fotor, Animoto, Snappa, Visme, Placeit, or BeFunky.
No matter your needs, there's a tool out there to empower your social media marketing efforts.
3. How much should I budget for social media marketing?
Although there is no one-size-fits-all approach to social media advertising, many businesses spend between $200 and $350 per day on these types of ads. This adds up to $72,000 to $126,000 per year, making it a significant investment for any company. The payoff can be substantial when done correctly, so it's essential to develop a solid strategy before diving in.
