How Much Does A Social Media Marketing Agency Charge?

How Much Does A Social Media Marketing Agency Charge?

A social media marketing agency charges anywhere from $650-$20,000 a month or more depending on the scope of work and the needs and budget of the business owner.

There are different social media packages and pricing models that agencies offer, so you’ll want to choose the social media pricing model that makes the most sense for your business.

The Three Different Social Media Agency Pricing Models:

1. Social Media Marketing Agency Packages: These are predefined social media advertising services that bundle multiple tasks into a flat rate. Social media packages are often more cost-effective for the small business owner.

Social media marketing agency packages make sense when business owners don’t have the means to employ 3-5 different social media marketing employees in-house.

Instead of paying the salaries of a graphic designer, social media strategist, copywriter, video editor, advertising strategist and more, you can pay an agency a much cheaper fee and get an entire team of these experts.

2. Social Media Marketing Project-Based Pricing: This model lets the business owner pay for a specific task or project to be performed within a certain timeframe and does not always consist of an ongoing partnership between the agency and the business owner.

A project-based pricing model makes sense for businesses who, for the most part, have a grasp on the strategy and execution of their social media marketing and ads but need help with a specific aspect of it.

Business owners can employ a temporary social media specialist to complete a specific project that they could not otherwise execute well on their own.

3. Social Media Marketing Retainer Based Pricing: This model allows you to keep a social media agency on hand with a monthly retainer fee, and the services performed ebb and flow based on your social media management needs.

The retainer-based pricing model is best for business owners that can afford to pay a monthly fee for an ever-changing scope of work performed in return.

So long as the provider is experienced in generating the results you’re looking for, this can be a cost-effective solution for businesses that aren’t able to employ and/or train an in-house team.

Social Media Marketing Agency Pricing: What Are You Paying For In Each Pricing Model?

So we have the social media marketing packages, project-based pricing and retainer-based pricing, but what are we really paying for in each model?

Value-Based Pricing: This is a scenario where you pay the agency for its solutions and ability to meet your goals at a value that is agreed upon by both parties. You are placing a value on the service itself.

Performance-Based Pricing: This is a scenario where you pay the agency when they meet the set objectives and goals you have both agreed upon. This places a higher emphasis on the return that you get from the agency.

Equity Pricing: This is a rarer scenario where you do not pay the agency up front but instead agree to share the profits with them from the sales they bring in.

What Are The Benefits of A Social Media Marketing Agency?

Regardless of which pricing model you choose to employ, you want to make sure you’re seeing real results.

These are some of the benefits you should see from your social media agency:

• Strong Brand Awareness (more social media followers, likes, comments, shares and video views and impressions!)
• Higher Brand Recall & Online Engagement
• Better Understanding of Their Target Market
• More Website Traffic
• Increased Leads
• More Direct Website Sales and/or In-Store Sales
• Repeat Purchases and/or Upsells
• Increased Brand Loyalty
• Higher ROI (and a lower cost per result!)>

Social Media Marketing Agency FAQs

How much do marketing agencies charge for social media?

Marketing agencies charge anywhere between $650-$20,000 a month or more for social media services.

How much does it cost for an ad on social media?

An ad on social media costs between $650 to $20,000 a month or more paid to the agency managing your account, with anywhere from $200-$50K in additional monthly ad spend paid to the ad platform.

On average, Instagram ads costs $0.01-$4 per action, Facebook ads cost $0.01-$5.47 per action, LinkedIn ads cost $0.26-$8 per action, Pinterest ads cost $0-$2 per action, YouTube ads cost $0.31-$0.40 per view and X (Twitter) ads cost about $0.26-$2.00 per action.

How much should I pay for social media marketing?

You should pay anywhere from $650-$6,000 a month or more for social media marketing services that are results-driven.

What is the typical cost of hiring a social media marketing agency?

The typical cost of hiring a social media marketing agency is $650-$20,000 a month or more depending on the scope of services being provided.

How much do ad agencies charge for social media?

Ad agencies charge anywhere from $650-$20,000 a month or more to create and manage your social media ads.

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