How Much Does Social Media Management Cost in 2023?

Social media pricing: How much do social media management services cost?

Social media sites continue to gain popularity, and they are extremely effective for marketing. With social media, you can connect with current and potential customers. It also allows you to develop relationships that encourage them to purchase your products and services.

When it comes to social media marketing, most people want to know how much it costs. The answer? It depends on several factors: the experience of the employees at the agency you hire, the plan you choose, the number of social networks you use to market your business, and more.

On average, however, most companies spend $4000 to $7000 per month on social media management, which generally includes a monthly ad spend, as well as a custom marketing and advertising strategy for one or more networks.

At WebFX, an award-winning social media agency, we offer numerous social media plans to help you customize your strategy and make the most of your budget. For social media services from WebFX, you can view our social media rates 24/7.

On this page, we’ll take a look at how much you’ll pay to market your business on each social network. If you are interested in learning about our social media management costs, scroll down to use our cost estimate calculator!

How much does social media marketing cost?

Signing up for an account on a social media platform is free — anyone can create a business Facebook page or a Twitter account. However, social media monitoring can be very time-consuming.

It may also be difficult to find someone on staff who has the experience and knowledge necessary to properly manage your social media accounts. If not executed correctly, a social media campaign can be very costly to your brand.

WebFX offers social media marketing plans for top social networks including: Facebook, Twitter, LinkedIn, Instagram, and Pinterest. Our plans are a fraction of what it would cost to hire a dedicated social media manager, and you’ll get a fully maintained campaign.

Our experienced and informed staff will help you not only build an effective online presence, but also ensure that it is monitored and updated in a timely manner.

Wondering how much you should expect to pay for social media marketing? Let’s take a look at the cost to market your business on each channel, as well as custom social media pricing from WebFX.

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How much does it cost to advertise on different social networks?

Wondering how much you should expect to pay to advertise your business on social media?

Just like other marketing services, the platforms that you choose to market your business from have a large impact on how much social media costs. For example, you might find that since a specific platform has more users, you’ll pay a little more in ads since there’s more competition for ad space.

Depending on what social platforms you’re interested in marketing on, your campaign cost will vary. Let’s take a look at the price of marketing on each social platform.

Social media pricing: Facebook

With more than 1 billion daily active users, Facebook is one of the most popular social channels. When you market your business on Facebook, you have a good chance to reach at least a portion of your target audience.

It costs absolutely nothing to set up a business account on Facebook. However, if you want to connect with more customers, there are a few paid options for advertising on Facebook.

So how much does it cost to market your business on Facebook?

Facebook ads

When you create paid ads on Facebook, you can optimize your ads to achieve a number of goals including:

• Page likes
• Clicks to website
• Website conversions
• App installs
• And more

Facebook also offers options for managing your ad costs. For example, you can ask Facebook to give you the best conversions at the best prices, or you can set a budget for your campaigns. In addition, you can choose between CPM and CPC models.

With the CPM model, you pay for every 1000 views of your ad. In other words, every time 1000 Facebook users see your ad, you will pay a specific amount, even if they don’t click on your ads. The average CPM on Facebook is $11.

On the other hand, the cost per click (CPC) model allows you to pay only when people click your ads. Typically, CPC prices are higher, but you will only pay for interested users — people who click your Facebook ads.

CPC for Facebook ads vary, depending on your goals and the audience you want to reach. In 2021, the average CPC for a Facebook ad was $0.44, according to an analysis by AdEspresso.

Facebook likes

When creating ads on Facebook, a lot of businesses want to earn more page likes. When creating Facebook ads, you can set earning page likes as the goal for your campaign. In 2021, the average cost per like for these types of campaigns was $0.38.

Boosted Posts

Facebook also allows you to “boost” existing posts to show your posts to more users, based on the targeting options you choose.

The cost for boosted posts depends on your target audience, as well as the number of people you’re trying to reach. And Facebook uses the CPM model to charge for boosted posts. On average, you can expect to pay $6.35 per 1000 views for boosted posts, according to an analysis by Buffer.

Professional Facebook management

Social media services for Facebook generally range from $450 to $1600 or more per month. If you’re interested in social media marketing, the average cost is $900 to $1600. In comparison, Facebook advertising services range from $450 to $850 or more per month, with an ad spend of at least $200.

Social media pricing: Twitter

Like Facebook, it’s completely free to set up a business account on Twitter. But if you want to reach more people, you do have the option to pay for Twitter ads. Let’s take a look at a few options.

Promoted tweets

To get your tweets in front of more people, you can choose to promote them. When you promote your tweets, they will show up as “promoted” in user’s timelines.

Promoted tweets operate on a bidding system, and you will pay based on the engagement they earn for your business like clicks, replies, retweets, and favorites. On average, you can expect to pay $1.35 to promote a tweet.

Promoted accounts

You can also promote your account, in addition to individual tweets. If you’re looking to boost brand awareness and earn more followers, this is a great option.

Instead of bidding on engagements, you will enter a bid based on how much you’re willing to pay for every new follower. This amount will vary depending on your targeting, but you can expect to pay $2.50- $4 per follower.

Promoted trends

If you have a larger marketing budget, you can also choose to promote trends on Twitter. Twitter lists “Trending Topics” to alert users of the most popular hashtags and topics. And promoted trends appear at the top of the list, usually labeled as “promoted.”

For around $200,000 per day, you can place a bid on specific keywords so your promoted trend appears at the top of the list.

You can also use a combination of promoted tweets, accounts, and trends to reach even more Twitter users and help them learn more about your business.

Professional Twitter management

Social media management for Twitter costs anywhere from $450 to $1600 per month. If you’re focusing on social media marketing, expect monthly prices ranging from $900 to $1600. For social media advertising, budget for a monthly ad spend of $200 and a management cost of $450 to $850 per month.

Social media pricing: LinkedIn

Just like Facebook and Twitter, it costs nothing to set up a profile for your business on LinkedIn. However, you have several paid options to help you boost connections and brand awareness.

LinkedIn ads

With LinkedIn, you can create sidebar ads that display next to users’ feeds and pages they visit. These brief ads include a thumbnail image, and they are designed to encourage people to click to visit your website. You can create up to 15 different LinkedIn ads, each including a 25-character headline and 75-character description.

LinkedIn advertising also allows you to target your ads based on a user’s company size, industry, name, job title, category, and seniority.

Like Facebook, LinkedIn offers both cost per click (CPC) and cost per 1000 impressions (CPM). With the CPC model, you pay every time someone clicks your ad. While the minimum bid is $2, LinkedIn recommends that you bid at least $5.55 – $9.33. You can also set a daily budget of at least $10 and set your ad to run indefinitely or until a certain date.

If you decide to use the CPM model, you must submit a minimum bid of $2, but LinkedIn suggests you bid at least $2.85 – $4.62.

Sponsored updates

Your business can also sponsor updates on LinkedIn. This feature is very similar to Facebook’s sponsored posts and Twitter’s sponsored tweets.

Sponsored updates show up with other posts in users’ feeds, but they are tagged with the label “Sponsored” under your company’s name.

To sponsor an update, you will first need to choose an existing update from your LinkedIn. The targeting options are the same as regular ads.

For sponsored posts, the pricing model is similar to pricing for regular ads, but the suggested bids are slightly different.

If you choose the CPC option, you will pay a minimum bid of $2.50, but LinkedIn suggests you bid $5.67 – $10.09. On the other hand, you will pay a minimum of $10.50 for the CPM option with a suggested bid of $18.55 – $28.91. You must also have a daily budget of at least $10 for sponsored updates.

Professional LinkedIn management

A professional social media advertising campaign for LinkedIn ranges from $450 to upwards of $850 per month. In most cases, companies will invest at least $200 in monthly ad spend. For LinkedIn marketing campaigns, expect to invest at least $900 per month.

Social media pricing: Instagram

It’s completely free to set up an Instagram page for your business, but you can create Instagram ads that appear as “Sponsored posts” in users’ feeds.

At first, these ads were only available to big brands. However, you can now access Instagram advertising options for your business via the Facebook ad manager.

The CPC for Instagram ads is typically $0.40 to $0.70, according to data from WordStream. If your ad has a destination URL, the CPC tends to be a bit higher — $0.50 to $0.95. The typical cost per engagement (CPE) ranges from $0.01 to $0.05, and the typical CPM is $2.50 to $3.50.

Instagram also provides analytics, which can help you determine how to get the most bang for your buck.

Professional Instagram management

Social media services for Instagram range in price. Professional management of your Instagram ad campaign can cost anywhere from $450 to $850 per month, with monthly ad spends starting at $200. In comparison, Instagram social media marketing services range from $900 to $1600 or more per month.

Social media pricing: Pinterest

While it’s free to set up a Pinterest for your business, you can choose to promote your pins to reach more users.

With promoted pins, you can select the keywords you want your pin to show up for in search results. You can also narrow down your audience by location, language, gender, and device.

Pinterest uses CPC pricing, so you’ll only pay when someone clicks the pin and visits your website. First, you’ll set a maximum CPC bid, the highest amount you’re willing to pay for a click to your website. The amount you are charged will never exceed your max bid, and you may pay less than your bid. For example, Social Media Examiner found that a client bid $1 and was only charged $0.13 per click.

Pinterest allows you to choose from three main goals for your ads. The typical cost varies depending on the goal. For building brand awareness, the cost is typically $2.00 to $5.00 for 1000 impressions.

For the other two goals — boosting engagement and driving web traffic — the typical cost is $0.10 to $1.50 per engagement.

You can also set a daily campaign budget and determine how long you want your campaign to run.

Professional Pinterest management

Investing in social media services costs several hundred dollars per month. Social media marketing rates for Pinterest, for example, range from $900 to $1600 per month. Meanwhile, social media advertising costs for Pinterest run from $450 to $850 per month with an average monthly ad spend of $200.

As you can tell, social media advertising and marketing services generally cost the same, no matter which platform you choose. Many companies advertise and market on more than one platform, though, which is why businesses spend an average of $4000 to $7000 per month on social media services.

How much should you spend on social media marketing?

The amount you spend on social media depends on a number of factors, such as the number of platforms you use, the paid ads you create, and whether you choose to outsource your social media marketing.

On average, companies that outsource their social media marketing spend $200 – $350 per day. This equates to $4,000 – $7,000 per month or $48,000 – $84,000 each year.

In 2016, companies spent an average of 11.7% of their total marketing budgets on social media.

Ultimately, you must choose a budget that fits the needs and goals of your business. WebFX offers affordable social media plans to help you manage and optimize your social presence to reach more customers and earn more revenue online.

A wide array of services are included with each social media pricing level that WebFX offers.

We’ll work with you to review your goals, your marketing budget, and your industry to determine the best social media pricing marketing package for you. That way, we can make sure we’re offering social media management packages that match up with your needs at a price that works for your company.

If you have never used social media before, you may want to start with our basic plan.

WebFX will create a Facebook page for business for you, optimize it for likes and maximum engagement, and install any Facebook apps that you would like. We will post three weekly updates and set up an advertising campaign. This affordable social media pricing level is perfect for small businesses who are new to the world of social interaction.

If you have a larger business and you’re serious about social media, our aggressive or market leader social media marketing pricing packages are right for you.

With these plans, we will create profiles on additional social media channels, like Twitter, Pinterest, LinkedIn, and many more. WebFX’s dedicated team of social media experts will create a detailed social media strategy and post content for you on a daily basis.

FAQs about social media pricing

When you’re thinking about outsourcing your social media marketing or advertising efforts, you’re bound to have questions about social media pricing. That’s why we’ve compiled this FAQ on social media costs. Check it out to get started!

1. How much does social media marketing cost?

The average cost for outsourcing a social media marketing campaign is $900 to $7000 per month. Social media marketing pricing generally includes campaign development and full-time management for one to five social media networks.

2. How much does social media advertising cost?

The average cost for outsourcing a social media advertising campaign is $450 to $6000 per month, with monthly ad spends ranging from $200 to $50,000 or more. Your social media advertising costs will depend on several factors, like your business size, strategy, and budget.

3. How much does social media management cost?

The average cost of outsourcing social media management is $900 to $20,000 per month. Social media management services usually include developing and managing your company’s social media marketing and advertising strategy on one to five social networks.

If you’re requesting custom social media pricing from agencies, it’s essential to confirm that their marketing and advertising services for social media include the features and platforms you need and want.

For example, if you want to take a hands-off approach to managing your social media advertising and marketing campaigns, then it’s essential to partner with an agency that offers a turn-key solution: strategy development, launch, and management.

If you have additional questions about social media management pricing, contact us online for help!

What does WebFX base its social media marketing pricing on?

Unlike other forms of Internet marketing, social media should focus on providing valuable content to your target audience that moves them to recommend your site to others. Viral word-of-mouth is the goal.

WebFX has found the social-media-visitor-to-subscriber conversion method to be the most cost-effective way to take advantage of the massive social media traffic potential.

Our social media management pricing packages are based on the many different approaches we use to do just that. From Twitter and Facebook to online contests, WebFX’s social media pricing is based on all the different strategies we use to create an effective online presence for your company.

Altogether, our social media prices are based on what we provide for your business and how well your campaign performs.

Even though it can be tempting to go with a cheaper social media campaign, cheaper rarely means better. For example, if an agency promises social media plans for $99 per month, they probably lack the tools and experience needed to help you get the best possible ROI for your social campaigns.

WebFX is a leader in social media marketing

As one of the top social media firms in the industry, WebFX can help you establish, grow, and maintain your company’s interactions with customers online.

We have a variety social marketing bundles, so you can find the social media marketing package that works best for your needs. When you partner with us, we don’t give you a generic, cookie-cutter solution for your company’s needs — we make sure you get the social media services that works for you.

In addition, we believe that transparency helps create and nurture our relationships with clients. That’s why you can find our social media pricing and rates for our social media consulting services right on the page.

We want you to know exactly what you get for your social media price, and we want to make sure you get the most value out of your spending as possible. When you know what you’re buying, you can feel more confident when you spend — and we want our clients to be comfortable with us while knowing all of our social media marketing pricing.

WebFX, a leading social media firm, knows exactly what it takes to create an online buzz by reaching your audience with a systematic social media strategy. WebFX can help you:

• Establish a social presence through top social media channels and networks
• Actively engage with users to foster new relationships that compel them to purchase, and move them to recommend your site to others
• Craft valuable content to meet your needs and expectations with an effective social media pricing plan

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Great agencies have more than 100 testimonials.

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What’s the next step?

When you partner with WebFX, we focus on reaching your goals and driving revenue for your company through successful social media management. To date, we’ve driven over $3 billion in sales and more than 7.8 million leads for our clients.

Whether you want to establish a more influential presence on social media, engage more effectively with customers, create helpful content, or move more customers to your site, we’re the digital marketing agency for you!

We’ve worked with over a dozen different industries, and we have the experience and knowledge you seek.

If you want to experience the benefits of social media, contact our dedicated team or call us at 888-601-5359 to get a free quote and learn more about how social media can have a positive impact on your business!