I often hear it said that social media is the best, FREE marketing tool around. This is pretty awesome… except for the fact that it’s blatantly false.
It’s interesting how many people are led astray concerning this bit of information. According to Mac Collier in his article about social media expenses, even launching a Facebook page from the ground up with limited on-going training costs anywhere from $1,500-7,500 a month for 3-6 months.
Holy guacamole. But wait… It gets better.
Social media strategy creation by a professional can cost anywhere from $3,000-$20,000…. A MONTH. A lot of this cost is shed through training and hiring of employees.
According to our book, on average, even beginner companies that are engaging in social media marketing for the first time have a team of three people. That’s three hourly/monthly salaries and three benefit packaging. The cost of employees to maintain social media isn’t weighted as significantly as it should be. However, as social media sites begin to dominate our communication spectrum, a company can’t afford to hire just any Joe-Shmo to take care of its online image. We’re talking professionals, people with degrees and extensive background in using, maintaining and analyzing social media on the web.
The cost of employment isn’t the only thing to be considered either. Training workshops, consulting, advertising, design, analytics—all of these things will end up costing the company. It’s important to be away of these expenses, and how to understand how each expenditure contributes to an overarching objective.
Just for fun, here is a nifty infographic to help you understand some of the nitty gritty details:
In the long run, understanding and expecting the expenses that social media encompasses with help the company, and help you portray how they contribute to the growth and development of the company.
By: Mariah Suddarth