Social Media Marketing Costs, Estimates, and Contributing Factors

Social Media Marketing Costs, Estimates, and Contributing Factors
Article by DesignRush DesignRush
Last Updated: December 25, 2022

SMM or social media marketing costs for smaller campaigns can range from a hundred to a few thousand dollars. In contrast, the costs for larger-scale initiatives can require as much as $20,000 in a month.

There are more than 4.62 billion social media users globally, nearly 60% of the world’s total population. These numbers make social platforms a powerful tool for businesses to reach larger markets. Plus, 77% of social media marketing specialists claim that these channels are “very effective” for promoting their brands.

Before determining if it’s a worthwhile investment for your business, first, let us take a look at the budget requirements for social media marketing costs.

While the costs of social media marketing are unique to every company and strategy, we can provide estimates to help you with budget planning.

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Social Media Marketing Costs Estimate for Facebook

Facebook is one of the biggest, most prominent social media platforms. It accounts for over one billion daily active users. Hence, marketers have a significantly high chance of getting in touch with their target audiences.

It will cost you nothing to create and launch a Facebook business page. However, you have the option to shell out money to maximize your use of the channel.

A single advertisement on Facebook is approximately $7.19 for every 1,000 impressions. These cover clicks, likes, and shares, among other user actions.

Average Cost Estimate: $2,500 to $9,000+ per month

Social Media Marketing Costs Estimate for Twitter

Like Facebook, Twitter is also available for setting up a free business profile. But if you want to reach your intended audience, you should explore what the channel’s sponsored advertising and trending feature can offer.

Boosting one tweet is approximately $1.35. This will enable your tweet to show up on more timelines, and expectantly, generate more clicks, retweets, responses and other forms of interactions. In addition, you will also get more traffic and enhance your overall digital presence.

Average Cost Estimate: $900 to $1,600+ per month

Social Media Marketing Costs Estimate for LinkedIn

LinkedIn offers several paid solutions to help enhance your business relationships and increase your enterprise’s online exposure.

The professional networking site allows advertising inside the newsfeed or user profile through a preview image. This short-form promotion can entice people to click on them, 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 where they are shown.

Average Cost Estimate: $2,000 to $4,000+ per month

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Social Media Marketing Costs Estimate for Instagram

Paid Instagram ads appear as sponsored content on consumers’ newsfeeds.

Initially, these were exclusive to big brand names. But now, smaller enterprises can avail of paid advertising on Instagram by linking their pages to Facebook ads management.

A popular sponsored post can cost around $7 for every 1,000 impressions, while garnering a thousand views for a single video can reasonably cost as little as $3.

Additionally, Instagram gives you the flexibility to pay for advertising weekly or monthly.

Average Cost Estimate: $1,000 to $1,600+ per month

Social Media Marketing Costs Estimate for TikTok

TikTok is the fastest-growing video-sharing app on the web, with 66% of its users being under 30 years of age.

Generally, TikTok marketing can be pricier than Instagram or Facebook.

There are several ways to market on TikTok, including:

  • Collaboration with influencers
  • Promotion of your channel
  • Sharing content across varying social networks
  • Hashtag challenges
  • Paid advertising program
  • Native advertisements
  • Brand takeover advertisements

Average Cost Estimate: $1,000 to $50,000+ per month

Social Media Marketing Costs Estimate for Pinterest

Pinterest is a one-off inspiration-discovery application that combines search engine functionality and social media features. It is considered a visual exploration engine, generating creative ideas for its audiences.

You can group posts or pins into categories or boards. And you can take advantage of these uploads through distinct types of Pinterest marketing, such as:

  • 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

Social Media Marketing Costs Estimate for Snapchat

Working with Snapchat ad manager is similar with Facebook in that it provides you with better flexibility. It will be your discretion which path you wish to take. The costs of social media marketing on Snapchat proceed directly to every placement you choose.

Marketing types on Snapchat are as follows:

  • Single image ads
  • Video ads
  • Collection ads
  • Story ads
  • Lenses AR experience
  • Commercials
  • Filters

Average Cost Estimate: $1,000 to $3,000+ per month

Most Effective Basic Tools for SMM

Here are the best SMM tools offering pre-scheduling and other essential marketing services:

Buffer

Buffer services cover:

  • Pre-scheduling post
  • Tracking analytics
  • Monitoring engagement growth via user comments
  • Creating mobile-friendly landing pages

The application is also conveniently available on both iOS and Android.

Premium price starts at $6 monthly per social channel linked to Buffer.

Hootsuite

A strong competitor of Buffer, Hootsuite shares similar services with the former—scheduling and analytics resources.

The mobile application version is available on iOS and Android.

It is priced at a minimum of $49 per month billed annually, effectively making it the more expensive platform than Buffer.

Sprout Social

Sprout Social has a social amplification assistance feature on top of the regular analytics and scheduling functionalities. They include paid publishing resources, brand awareness development and employee advocacy.

It is also on the pricier end of the spectrum, requiring you to spend at least $89 per user monthly.

Canva

Canva is a design tool that enables you to come up with professional visual marketing collaterals minus the need for technical skills.

You can use Canva on a browser or application. It features a collection of services ranging from bundled templates and unique images to assets necessary for stitching together a video.

Canva Pro costs $12.99 per month.

Later

Later is exclusive to Instagram. It offers these functions:

  • Auto-publishing of static images, carousel, and reels
  • Best-time-to-post analysis
  • Visual planner
  • Hashtag suggestions
  • Scheduling posting of stories

Premium price is $18 per month.

Costs of Social Media Marketing: Hiring an SMM Agency

Hiring a social media marketing agency to handle your ad campaigns can offer several benefits compared to doing it yourself. 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 you on a monthly or annual basis, depending on the social platforms you need them to work on 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

Top and Most Cost-Effective Social Media Marketing Agencies to Hire

1. Brandignity

  • Location: Naples, FL 34103, Naples, Florida 34103, United States
  • Average Hourly Rate: $50
  • Expertise: Digital Marketing, Search Engine Marketing, SEO...

Companies of all sizes looking to build their brands and expand their markets rely on Brandignity, a Naples, FL-based digital marketing agency, for their expertise. Whether their clients need help with website design, search engine optimization (SEO), social media, reputation management, or even a variety of turnkey services, they can build the perfect package of design, branding, and marketing services to suit their needs.

The agency provides a comprehensive approach to digital marketing that anticipates these changes in consumer behaviors and maximizes potential for growth.

2. KiosMaya

  • Location: Jl. Bintaro Permai III Nomor 9, Jakarta Selatan, 12330, Indonesia
  • Average Hourly Rate: $35
  • Expertise: Website Development, Small Business Branding, B2B Digital Marketing, SEO Consultants...

KiosMaya provides the most complete digital marketing services managed by international certified digital marketing professionals.

Supported by several experts who can support a business in carrying out digital transformation appropriately and as needed. KiosMaya already has a track record that has a clear impact on the client's business.

3. Azency

  • Location: 2035 Sunset Lake Road, Suite B-2, Newark, Delaware 19702, United States
  • Average Hourly Rate: $125
  • Expertise: Branding, WordPress Website Design, Digital Marketing and SEO...

Azency a one-stop shop for all things digital! The agency gets your brand’s entire tech solutions under one roof. From website development, WooCommerce to Shopify migration, apps development, branding, and digital promotions, their experienced and capable team has got you covered.

Clients include Hyatt Regency, WHO, Yadea and DFSK.

4. Power Marketing

  • Location: 116 N Main Street, Suite 200, Goodlettsville, Tennessee 37072, United States
  • Average Hourly Rate: $150
  • Expertise: B2B Website Design, Construction Web Design, Digital Marketing, PPC...

Power Marketing is a full-service marketing firm founded in 1992. They have more than 20 years of experience in website design and creation, branding, Google Ads (PPC), search engine optimization (SEO), and digital marketing for the homebuilder and home services industry. Every day their goal is to create results-oriented, strategic, and creative communications solutions for clients.

Their slogan is Marketing Solutions. Sales Results. Their in-house team of creatives has proven time and again that their clients are their primary interest, not the bank account. They consistently strive to deliver creative marketing that delivers sales, traffic, and brand improvement results to the clients.

5. Kaizenzo Inc.

  • Location: 95 Danforth Avenue, Toronto, M4K 1N2, Canada
  • Average Hourly Rate: $125/hr
  • Expertise: UI/UX Design, Digital Marketing, SEO, PPC...

Through continuous improvement, Kaizenzo Inc. builds results-oriented digital advertising and digital marketing campaigns for their clients. With their holistic approach and failable goals, they take pride in having 0 churn.

Clients include Nissan, Kia, Telcan and SUKU Vitamins.

6. Dirt Geek Media Inc

  • Location: 2600 Island Blvd suite 1603, Aventura, Florida 33160, United States
  • Average Hourly Rate: Inquire
  • Expertise: Small Business SEO, SEO, SEO Consultants, Social Media Marketing...

Dirt Geek Media is an SEO and interactive media production company made up of a team of talented visionaries that are committed to pushing the boundaries of the unknown through technology, creative, production, and strategic services for clients including major artists, brands and corporations.

They work with clients to create exciting and influential content through uniquely creative ideas and vast knowledge of the multimedia universe. By executing projects from concept to completion, Dirt Geek Media provide clients with an unprecedented approach to modern media giving access to a fully accessible horizontal platform.

7. HomeTree Digital

  • Location: 1 W End Avenue, Suite 18B, New York City, New York 10023, United States
  • Average Hourly Rate: $150/hr
  • Expertise: Email Marketing, Social Media Marketing, Digital Marketing, Software Development…

Based in New York City, HomeTree Digital is a digital marketing agency that specializes in the financial service industry.

The agency works as a brand’s creative partner in designing the best digital experiences and customer journeys that drive results. In email marketing, they help clients with personalized distribution and advanced reporting. They are experienced in tools like MailChimp, HubSpot, Marketing Cloud and more.

Aside from digital marketing, the agency also offers software development, web design, brand identity and video production.

8. Influocial Technologies Pvt Ltd

  • Location: Mobile10X Building, Govt. Cyberpark, Calicut, 673016, India
  • Average Hourly Rate: $24
  • Expertise: Influencer Marketing, Instagram Marketing, eCommerce Marketing, Market Research...

Influocial Technologies Pvt Ltd works with a dynamic structure that allows them to adapt without fissures or tensions, according to the client’s size. Influocial is a team of a connoisseur digital marketing agency optimizing all of channels in a common strategy to meet conversions with the least number of hits and clicks.

Clients include Stanford Global, Zeefind.Com, Bayfin Group and Calicut Trade Centre.

9. KODE DIGITAL

  • Location: 353-3 Jalan C Y Choy, 10300 Georgetown, Penang, Malaysia., Penang, 10300, Malaysia
  • Average Hourly Rate: $40/hr
  • Expertise: 360° Digital Agency Services, Digital Strategy, Branding, Graphic Design, Media Buying, Web Design, eCommerce Development, Website Development, Legal Digital Marketing, SEO, Google AdWords, Social Media

KODE DIGITAL's team consists of talented individuals with diverse backgrounds and skill sets.

This results-driven digital marketing agency knows how to breathe life into ideas by thinking out of the box and producing show-stopping content and design.

Whatever your niche is, KODE DIGITAL can bring out the best in every brand.

10. Joombooz doo

  • Location: Pasterova 16a, Nis, 18000, Serbia
  • Average Hourly Rate: $30
  • Expertise: WordPress Development, Digital Marketing, Content Marketing, Facebook Marketing...

Basic activities of the company are web programming (website, web design) and Digital Marketing. We work with programming languages PHP, MySQL (data bases), C#, HTML5, JavaScript,jQuery, AJAX, CSS3, also we have Unity experts to create video games.

A special team of creative experts in marketing, informatics, graphic design working on marketing campaigns ( content, advertising, social media, branding...). The goal of our company is customer satisfaction and creating a long-term partnership because the client and their wishes always come first.

11. Jeff Social Marketing

  • Location: 100-2 Toronto Street Suite 338, Toronto, M5C 2B5, Canada
  • Average Hourly Rate: $50
  • Expertise: Digital Marketing, SEO, Social Media Marketing...

Jeff Social Web was launched in 2021, after the team comprising the agency has gained a wealth of experience with over 10 years working on websites, website security and website hosting. They offer straightforward pricing, simplified website security solutions, 99.9% uptime and 24/7 customer service.

The wide range of services related to digital marketing includes web hosting, web security, web & graphic design, E-commerce, social media, marketing consultation, express Services, SEO, media relations & crisis management.

Clients include Nick Rondinelli, John Real and Laurier Snider.

12. GTCSYS Services Pvt Ltd

  • Location: A-205, Safal Profitaire, Corporate Road, Prahladnagar, Ahmedabad, 380051, India
  • Average Hourly Rate: $25/hr
  • Expertise: Product Design, Website Development, UI/UX Design, Digital Marketing, Software Development...

GTC is a leading end-to-end IT services company, helping clients harness the power of technology services and digital transformation to thrive in the evolving world of cloud, digital innovation. Their agile and collaborative approach to creating customized solutions across the digital value chain helps clients to get faster in the market.

The agency provides software development services targeting sophisticated websites and mobile applications. Their clients get a complete custom solution exactly matching their vision, as they are in control of development thanks to an agile process.

Clients include Pinnacle Global Education, Simplicity For Business and ChromoLogic.

13. Nvent Marketing

  • Location: 21725 N 20th Ave, Ste 101-102, #1026, Phoenix, Arizona 85027-2640, United States
  • Average Hourly Rate: Inquire
  • Expertise: Website Development, Digital Marketing, SEO, Social Media Marketing...

Nvent Marketing is a digital-first marketing agency that can help any company attract, engage, and delight their ideal customers. Whether you need more traffic to your website or qualified leads to your sales team, they help you invent, accelerate, and expand opportunities for growth.

The agency is based in Phoenix, Arizona but in today’s mobile, digital, and connected world, office locations matter less. Their team and our clients’ campaigns span the globe, wherever great value can be added.

Clients include HP, Canon, ReachOut...

14. Altois

  • Location: 86-90 Paul St, London, EC2A 4NE, United Kingdom
  • Average Hourly Rate: Inquire
  • Expertise: 360° Digital Services, Digital Marketing, PPC, Facebook Marketing...

As a digital consulting studio, Altois works with companies to identify new marketing opportunities and help them to manage their sales pipeline. They are authorised Google Partners and they deliver performance-driven digital campaigns based on the Google Marketing Platform. As Elite Pipedrive CRM partners and Certified Pandadoc Partner, the company helps sales teams to manage leads and close more deals.

15. CBD SEO firm

  • Location: 1162 E 76TH LOS ANGELES CA 90001-2429 USA, Los Angeles, California 90001-2429, United States
  • Average Hourly Rate: $100
  • Expertise: Digital Strategy, SEO, Social Media Marketing, WordPress Development...

If you are looking to grow your online presence then CBD SEO Firm are the smart choice for businesses in the CBD and Cannabiz markets. They have an expert team that can help you grow your business and reach a wider audience.

They help B2C and B2B businesses take their business to new heights. CBD SEO Firm specialize in SEO and marketing solutions for businesses and websites in the CBD and Cannabiz markets. They also specialize in web design and development, graphic design, content writing, social media marketing and digital marketing for CBD websites.

16. MarketinGear

  • Location: 180 Promenade Cir # 300 - Office 342, Sacramento, California 95834, United States
  • Average Hourly Rate: $70
  • Expertise: Website Development, Digital Marketing, Social Media Marketing, Branding...

MarketinGear are a group of Web Design & Digital Marketing enthusiasts and most of their team members are Silicon Valley-hardened experts. They came together as a team in 2014, believing on the values like "free flowing creativity", "simplest solutions", "growing communities & individuals".

Their Vision and Mission is to grow and develop businesses through digital means and also to grow creative people around us in terms of creativity, digital knowledge and business operations. This was not possible for any of their team member working in Silicon Valley for huge corporations.

17. Proleo.io

  • Location: 473 Mundet Place, Suite: US489102, Hillside, New Jersey 07205, United States
  • Average Hourly Rate: $100/hr
  • Expertise: Digital Marketing, Digital Marketing For Startups, Content Marketing, Financial Services Digital Marketing, Influencer Marketing...

Proleo.io has an international team of professionals working remotely all over the world to cater to their clients. They are helping Cryptocurrency, Fintech, NFTs, and Blockchain projects make powerful audience connections.

Proleo.io has helped companies strategize and implement their creative visions. Their 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.

Clients include Evai.io, FantOHM, ClassicDoge and Privapp Network.

18. High Key Impact

  • Location: Blue Bell, PA
  • Average Hourly Rate: Inquire
  • Expertise: Digital Marketing, Web Design, SEO, Social Media Marketing...

This agency helps businesses unlock the keys to social media marketing when they work with them as theit digital marketing consultants. Marketing digital skill sets are ever-changing and so are they. If you need a fresh digital marketing consulting strategy for a variety of marketing channels, with a small business sized budget, High Key Impact, LLC is here for you.

High Key Impact, LLC, founded in 2015, is owned by a solopreneur, Cheryl Friedenberg. Cheryl is a Digital Marketing Consultant, providing social media marketing for small-to-medium sized businesses in Blue Bell, PA and the surrounding areas, including Montgomery, Bucks, Delaware, Philadelphia, Chester Counties and South Jersey and Delaware.

19. GrowMojo

  • Location: Kentfield, San Francisco, California 94904, United States
  • Average Hourly Rate: Inquire
  • Expertise: Digital Marketing and Social Media Marketing

Based in San Francisco, California, GrowMojo is a powerhouse of knowledge when it comes to helping businesses grow and succeed.

Founded in 2017, the team at GrowMojo skillfully oversees customer acquisitions, conversion funnel management and re-engagement processes. With full transparency into their operation, you'll know exactly what infrastructure they're using to develop the success of your business.

Led by experts in the digital marketing and social media marketing industries, they've had rave reviews from big-name clients like Pawz.com, Flying Squirrel Sports, and Sandbox VR.

20. Paul Gregory Media

  • Location: 50 S. Main Street, Suite 200, Chicago, Illinois 60563, United States
  • Average Hourly Rate: $150/hr
  • Expertise: Digital Strategy, Branding, Logo Design, Graphic Design, Video Production, Public Relations, Web Design, Digital Marketing, Digital Advertising, Multilingual SEO, Google AdWords, Social Media Marketing, Email Marketing, and Market Research.

Paul Gregory Media (PGM) is a branding and marketing agency based in Chicago, Illinois, founded in 2006. They specialize in digital marketing, social media marketing, branding, and digital advertising.

PGM has helped non-profit organizations with their messaging and brand strategy, visual identity, and implementation of digital marketing and websites into the mix. The list of services includes copywriting and photography for brochures, annual reports or other communication materials, Google ads, SEO optimization, plus all aspects of using new technology to generate leads and engage customers like marketing automation.

The clients Paul Gregory Media is proud to serve range from Habitat for Humanity of Illinois, Turning Pointe Autism Foundation to DuPage Foundation as well as Northern Illinois University. Paul Gregory Media is a comprehensive resource center that can help make any non-profit organization's vision become reality.

21. Brandefy

  • Location: 2633 Lincoln Blvd #406, Santa Monica, California 90405, United States
  • Average Hourly Rate: $100/hr
  • Expertise: Video Production and Video Marketing.
    Brandefy is a full-service video production company based in Los Angeles, California.

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 for their clients. Brandefy’s team of highly experienced professionals understand the power and importance of well-told stories, and they work closely with their clients to create compelling, effective video campaigns that are tailored to their specific needs and goals.

Whether you're looking to promote your brand or product through video marketing, or you need help developing a powerful video campaign for television or the web, Brandefy’s team is here to help. Allow the talented team to guide you every step of the way, from development to distribution, so you can focus on what matters: telling your story to the world.

Brandefy’s clients include UCLA, the City of Los Angeles, AAA, and Unilever.

Final Word on Social Media Marketing Costs and Budgets

Social media usage has skyrocketed over recent years. And it is vital for business owners and brand managers to understand social networking sites’ impact and influence over their company’s online appearance and presence.

Together with robust knowledge on social media channels, it is also crucial to have a good idea of the costs of social media marketing.

You should consider factors such as the tools you will use according to your needs, the channels you need for growing your marketing, and who will execute the marketing campaigns for you.

We’ll find qualified social media marketing agencies for your project, for free.
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