How Much Does Social Media Marketing Cost in 2024?
methodology:
- 620 U.S-based marketing professionals share how much their companies spend on social media marketing.
An Inside Look at WebFX Social Media Marketing Costs
🎨 Social banner ad design Make social media your digital marketing superpower with custom social media marketing solutions that boost your visibility, foster brand loyalty, and support in growing your bottom line.
WebFX Expertise
Highlights
🖌️ Custom graphics
🤝 Social media branding
📝 Social post creation
Join the 2,000+ businesses trusting WebFX to drive revenue through social
Too many social media marketing providers take a copy-and-paste approach to social. That’s not our style.
Key Takeaways
- 52% of businesses pay $100 – $5000 per month on social media management
- 48% of businesses spend $1000 – $25,000 annually on social media ads.
- 63% of businesses allocate 5% – 40% of their overall advertising budget to social media ads.
- 66% of businesses allocate 5% – 25% of their overall marketing budget on social media management
Learn the basics of social media marketing costs
So, how much does social media marketing cost? We surveyed 620 marketing professionals to find out the answer. Discover what they shared about their social media management and advertising costs below!
How much does social media marketing cost?
On average, social media marketing costs $100 – $5000 per month for management (52% of respondents). Several factors can influence the cost of social media marketing, including your industry, size of your business, your chosen social platforms, your chosen agency, and more.
Source Data
| MONTHLY social media management COST | % OF MARKETERS |
| Less than $100 | 3.61% |
| $100 – $1000 | 24.10% |
| $1001 – $5000 | 27.71% |
| $5001 – $10,000 | 20.48% |
| $10,001 – $15,000 | 9.64% |
| $15,001 – $20,000 | 6.02% |
| $20,001 – $40,000 | 3.61% |
| $40,001 – $60,000 | 2.41% |
| More than $60,000 | 2.41% |
How much does social media advertising cost?
Social media advertising costs $1000 – $25,000 per year on average (48% of respondents). How much you’ll spend on social ads depends on your chosen networks, ad type, budget, bid, and more.
Source Data
| COST PER YEAR | % OF MARKETERS |
| Less than $1000 | 11.11% |
| $1000 – $5000 | 15.93% |
| $5001 – $10,000 | 15.19% |
| $10,001 – $25,000 | 17.04% |
| $25,001 – $50,000 | 12.22% |
| $50,001 – $100,000 | 10.74% |
| $100,001 – $250,000 | 10.00% |
| More than $250,000 | 7.78% |
Data round up: How much do businesses spend on social media marketing per month?
24%
$100 - $1000
Source: WebFX
28%
$1001 - $5000
Source: WebFX
21%
$5001 - $10,000
Source: WebFX
WebFX helps companies like yours reach their business goals.
See Case Study“WebFX has always worked hard to make sure that we’re getting what we need out of the partnership, not just what may seem like the best result.”
3 ways to determine the cost of social media marketing
There are multiple ways you can do social media marketing, from doing it in-house or hiring an agency or freelancer. Ready about the different costs involved with each below!
Option #1: DIY
Estimated total: $20 – $8500 per month
While there’s a definite learning curve to social media marketing, you can certainly do it on your own. It requires a lot of research, and you’ll have to carve out some time in your schedule to make sure you keep at it.
And to really implement and manage an effective social media marketing strategy that improves your bottom line for the long-run, you’ll likely need to hire a social media specialist or two to keep your strategy in tip-top shape.
And contrary to popular belief, DIY social media marketing costs can really add up. For one, you’ll need to pay for social media tools and software to help you manage your posts and campaigns. Not to mention the costs and time involved for creating videos, copy, and graphics for ads and posts.
Social media tools like Buffer or Hootsuite have monthly costs starting at $100 per month to access all of their features. Social media specialists and managers on the other hand have an average salary of $55,000 per year, which is around $4500 per month plus employee benefits like healthcare, paid time-off, and more.
Option #2: Hiring a social media agency
Estimated total: $100 – $5000 per month
With the expertise, knowledge, and costs involved in DIY social media marketing, many businesses opt to partner with an experienced social media marketing agency to help them manage their strategy.
On average, hiring a social media agency costs $100 – $5000 per month (45% of businesses). Your cost may be more or less depending on your industry, chosen social platforms, whether you invest in ads, and more.
By partnering with a social media agency like WebFX, you’ll gain access to a team of more than 500+ social media experts and designated social platform and advertising specialists to support all of your social marketing needs.
Plus, our team stays on top of the latest social trends and algorithm changes to continuously optimize your strategy and ad campaigns to ensure you always get the highest possible return on investment.
Source Data
| MONTHLY Social media management COST from an agency | % OF MARKETERS |
| Less than $100 | 4.55% |
| $100 – $1000 | 20.45% |
| $1001 – $5000 | 25.00% |
| $5001 – $10,000 | 15.91% |
| $10,001 – $15,000 | 11.36% |
| $15,001 – $20,000 | 9.09% |
| $20,001 – $40,000 | 6.82% |
| $40,001 – $60,000 | 2.27% |
| More than $60,000 | 4.55% |
Option #3: Hiring a freelancer
Estimated total: $1001 – $10,000 per month
You can also opt to hire a freelancer for your social media marketing needs. There are several social media marketing freelancers out there. Some freelancers specialize in certain areas of social media, like creating posts, while others specialize in advertising. As a result, you may need to hire more than one freelancer, depending on your needs and goals.
On average, social media marketing from a freelancer costs $1001 – $10,000 per month (56% of respondents).
How you pay for your social media management from a freelancer can vary, you may pay per hour, per project, or per month depending on your chosen freelancer.
Source Data
| MONTHLY social media management COST from a freelancer | % OF MARKETERS |
| Less than $100 | 2.56% |
| $100 – $1000 | 28.21% |
| $1001 – $5000 | 30.77% |
| $5001 – $10,000 | 25.64% |
| $10,001 – $15,000 | 7.69% |
| $15,001 – $20,000 | 2.56% |
| $20,001 – $40,000 | 0.00% |
| $40,001 – $60,000 | 2.56% |
| More than $60,000 | 0.00% |
Data round up: Why do businesses invest in social media marketing?
39%
Build brand awareness
Source: WebFX
31%
Drive sales
Source: WebFX
17%
Generate leads
Source: WebFX
[Summary] Cost of social media marketing
Let’s review the cost of social media marketing for each of the three methods.
DIY social media marketing costs $20 – $8500 per month, but requires much more time and expertise than outsourcing your social media marketing. You can outsource social media marketing to an agency for approximately $100 – $5000 per month. You can outsource social media marketing to a freelancer for approximately $1001 – $10,000 per month.How much does DIY social media marketing cost?
How much does it cost to outsource social media marketing to an agency?
How much does it cost to outsource social media marketing to a freelancer?
WebFX social media management pricing
WebFX offers social media management plans to help you develop a custom strategy and social media pages that drive results for your business. We also publish our social media management pricing online.
Our social media management plans allow you to choose the number of platforms you want to use to build a social strategy tailored to your budget and goals. Here’s a run-down of how much you can expect to pay.
Social media management: Standard consultation and reporting plans (Monthly)
| Features | BRONZE | SILVER | GOLD |
|---|---|---|---|
| Number of Posts per Month | 10 | 20 | 30 |
| Custom Images per Month | 8 | 10 | 12 |
| Number of Networks | 1 | Up to 2 | Up to 3 |
| Social Media FuelFX Assets Included | 1 | 1.5 | 2 |
| Vertical Content Creation | Add $1,200/month | Add $1,200/month | Add $1,200/month |
| Social Media Marketing Strategy | |||
| Social Media Competitive Analysis | |||
| Social Media Brand Reputation Analysis | |||
| Social Media Audit + Recommendations | |||
| Dedicated Social Media Account Manager | |||
| Daily Monitoring of Included Social Assets | |||
| 48 Business Hour or Less Customer Response Time | |||
| Personal Social Media Consultations per Month | 1 | 2 | 4 |
| Access to WebFX editorial calendar & content publishing tools | |||
| Standard Monthly Reporting and Analysis | |||
| Network Setup & Optimization | |||
| Cover Photo & Profile Photo Design/Optimization | |||
| 500+ SMEs behind campaign driving results | |||
| Boosted Posts per Month | 2 | 4 | 6 |
| Required Boosted Post Spend | $100 | $200 | $300 |
| Setup Fee | $4,650 | $6,525 | $7,500 |
| Ongoing Management Fee | $3,150 | $4,425 | $5,100 |
| Need more information? Call Us: 888-601-5359 | GET STARTED | GET STARTED | GET STARTED |
Social media advertising: Standard consultation and reporting plans
| Features | Pro | Enterprise |
|---|---|---|
| Included Networks | ||
| Number of additional networks included | Pick up to 2 in addition to AdTechFX programmatic campaigns | Pick up to 3 in addition to AdTechFX programmatic campaigns |
| Facebook Advertising Campaigns | ||
| Instagram Advertising Campaigns | ||
| LinkedIn Advertising Campaigns | ||
| Twitter Advertising Campaigns | ||
| TikTok Advertising Campaigns | Available with Ongoing FuelFX Assets | Available with Ongoing FuelFX Assets |
| Pinterest Advertising Campaigns | Available with Ongoing FuelFX Assets | |
| AdTechFX Programmtic Channel | Access Included | Access Included |
| Management Deliverables | ||
| Dedicated Social Media advertising account manager | ||
| 500+ SMEs behind campaign driving results | ||
| Initial campaign strategy development | ||
| Number of advertising campaigns | Up to 8 | Up to 10 |
| Audience analysis | ||
| Ad campaign copywriting | ||
| Ad copy and design performance testing | ||
| Ongoing campaign testing and optimization | ||
| Dynamic ad format testing | ||
| Consultations per month | Up to 2 | Up to 4 |
| International campaign management (networks dependent on international policy - addtl. fees may apply) | Upon request | |
| All social assets managed through client-owned accounts | ||
| Monitoring clicks, conversions and fraud activity | ||
| Monitoring of social ad comments | Add $300/month | Add $600/month |
| Social Platform Targeting Capabilities (Specifics Vary By Platform) | ||
| - Interests | ||
| - Demographics | ||
| - Professional Characteristics | ||
| - Custom Audiences | ||
| - Lookalike Audiences | ||
| AdTechFX Programmatic Targeting Capabilities | ||
| - 3rd Party Audience Targeting | ||
| - Account-Based Retargeting | ||
| - CRM Pipeline Retargeting | ||
| Social Platform Creative Deliverables | ||
| Social Ad Creatives - Copywriting & Design | Up to 2 sets | Up to 4 sets |
| AdTechFX Programmatic Creative Deliverables | ||
| Display Ad Creatives (One Time) | One Time: Up to 2 sets of rapid display creatives - 16 ads total (8 per set) | One Time: Up to 3 Sets of Custom Layout Display Ads - 24 Ads Total (8 images per set) |
| Connected TV Commercial Ads (One Time) | One Time: 1 15-second rapid ConnectedTV ad | One Time: 1 Set of Rapid CTV Ads 15 + 30 Seconds (2 videos total) |
| Ongoing AdTechFX Programmatic Advertising Creative | Add 1 FuelFX Asset | Add 1 FuelFX Asset |
| Audio Commercial | Coming Soon | Coming Soon |
| FunnelsFX Landing Pages | ||
| Setup of 1 FunnelsFX Landing Page template (One Time) | ||
| Performance Reporting | ||
| Monthly performance & analysis reporting | ||
| Website conversion analysis reporting | ||
| IntegrationsFX: Conversion Based Smart Bidding | Included with MarketingCloudFX License | Included with MarketingCloudFX License |
| IntegrationsFX: Automated Lookalike + Custom Audiences | Included with MarketingCloudFX License | Included with MarketingCloudFX License |
| Initial Campaign Investment (Month 1) | $1,975 | $4,250 |
| Ongoing Monthly Campaign Investment (Months 2+) | $975 or 15% of ad spend, whichever is greater | $4,500 or 12% of ad spend, whichever is greater |
| Required Ad Spend Range | $1,000 - $30,000 | $30,000+ |
WebFX is an experienced social media marketing agency
WebFX is a full-service Internet marketing agency with a team that specializes in social media marketing. Our social media experts stay up-to-date on the most recent strategies and techniques, so we can be sure that we’re getting the best results for your dollar. And we don’t use cookie-cutter plans — when you partner with us, you get a unique social media strategy that’s specific to your company’s needs and goals.
Are you ready to make social media work for your business? Contact us today to start planning your social media strategy!
Meet WebFX
A world-class digital marketing agency with thousands of reviews applauding our transparency.
Related Resources
FAQs about the cost of social media marketing
Get answers to FAQs about social media marketing costs now:
How much does social media marketing cost?
Social media marketing costs $100 – $5000 per month for management and $1000 – $25,000 per year for social advertising on average. The cost of social media marketing depends on several factors, like whether you partner with an agency, your industry, whether you invest in ads, and more.
How much does social media marketing cost from an agency?
Social media marketing from an agency costs $100 – $5000 per month on average.
How much does social media marketing cost from a freelancer?
Social media marketing from a freelancer costs $1001 – $10,000 per month on average.
What is social media marketing?
Social media marketing is a digital marketing strategy that involves promoting your business, products, or services on social media platforms like Facebook, Instagram, X (Twitter), TikTok, and more.
