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How Much Do Social Media Services Cost?

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Social Media Campaign Prices

Social media is here to stay. If you haven't launched a comprehensive strategy to promote your company or brand using sites like Facebook, Twitter and LinkedIn, you're losing business to your competitors.

According to Nielsen research, 80% of Americans use a social network or blog. With that kind of popularity, social media is one part of a complete marketing strategy that even the smallest of businesses can't afford to ignore.

About Social Media Companies

Social media companies create and manage a social media campaign designed to increase sales, generate leads or grow your business. The goal is to engage customers by creating an online experience that connects customers to your company or brand.

You can opt for a complete social media strategy that includes setup, content creation and daily posting. Or, you can opt for less expensive services like one-time social media audits or consultations. Some companies also offer starter packages that include initial setup and several months of instruction and support.

Social Media Company Average Costs

The cost of hiring a social media company depends on your goals, the scope of the project and the company's experience. You could spend just a few hundred dollars or tens of thousands.

Some social media companies charge a flat fee upfront to create a complete social media strategy, then charge on a per-month basis to manage each account. Small and medium sized businesses should expect to pay a flat fee of $1,500 to $2,000.

Monthly fees for social media management (i.e. someone to Tweet, Facebook and blog on a daily basis) begin at about $500 for a small business. On the other end of the spectrum, a complete social media strategy and implementation for a large company can cost $10,000 or more per month.

Social media audits, which include a complete review of your social media strategy and suggestions for improvement, usually run anywhere from $2,000 to $10,000. Hiring a social media consultant tends to run anywhere from $100 to $500 per hour.

Choosing a Social Media Management Company

It's never wise to hire a social media company based solely on price. You need to consider the company's expertise and track record. Does the company have experience in your field? Can they demonstrate measurable results?

Before hiring a social media consultant, decide on your goals. Do you want to increase traffic to your site? Generate leads? Grow your business? Make sure the company you select has demonstrated success in the area that is most important to you.

Most importantly, you'll want to hire a company that will work closely with you to understand your company and your industry. Any firm that's going to be managing your social media needs to have a deep understanding of how your business operates. If a company is not willing to invest the kind of time that requires, keep looking.

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