Social Media Management Pricing in 2023: How to Choose the Right Option for Your Business

By Milou Pietersz

Social media has become an essential part of any business's marketing strategy. With the potential to reach millions of users, it's no wonder why companies are investing in social media management services to help them grow their online presence.

However, with so many options available in the market, it can be challenging for businesses to navigate exactly what they need and how much they should budget for these services. If you search for social media managers and agencies, you will immediately be hit with a wide range of services and pricing.

When choosing a social media manager or agency, it is important to shift from the mindset of finding the lowest price to investing in expertise and proven results. Here is what to consider when choosing a social media management service.

Comparing social media management solutions

Solo social media managers

Solo social media managers are individuals who offer freelance social media management services. They typically have a few clients and handle all aspects of social media management themselves, from creating content to monitoring engagement and analytics.

Each solo social media manager has a system for onboarding, client management, content management, and communication policies. Here you need to ensure their business model is an excellent fit for your goals. For example, where one social media manager may have one monthly scheduled strategy call with you built into their retainer, another might be willing to meet more depending on your business needs.

Another thing to note is their strategy. Social media managers are not always social media strategists. If you already have your social strategy, the social media manager's job is to execute this, not create the plan as they go.

The price range for solo social media managers varies depending on their experience level, skill set, and the scope of services offered. Some may charge as low as $500 per month for basic services, while others may charge up to $1,000+ per month for more comprehensive packages that include strategy.

Businesses that are just starting out and have limited budgets may find working with solo social media managers an attractive option. However, it's essential to consider that they may not have the same level of expertise and resources that larger agencies have, which could impact the quality and effectiveness of their services.

Small social media management agencies

Small social media management agencies are businesses that have a small team of social media experts. They typically have more clients than solo social media managers and can offer a more comprehensive range of services. These agencies may have a specific focus, such as influencer marketing or content creation, or offer full-service social media management.

Within a small social media management agency, your account may have a dedicated person running your page or several people working on different areas, such as inbound engagement, outbound engagement, posting content, strategy creation, analytics monitoring, etc.

The price range for small social media management agencies also varies, but generally, the cost range is between $1,000 to $5,000 per month, depending on the scope of services offered and the team size.

Businesses that have a moderate budget and are looking for more expertise and resources may find working with small social media management agencies a good fit. However, it's essential to ensure that the agency has the necessary experience and track record of success in your industry.

Full-scale social media management agencies

Full-scale social media management agencies are large businesses with a team of social media experts and dedicated departments for each aspect of social media management, such as content creation, community management, and analytics. These agencies can offer various services and have experience working with large brands and businesses.

The price range for full-scale social media management agencies is much higher than for solo social media managers and small agencies. These agencies charge between $10,000 to $50,000 per month, depending on the scope of services offered and the team size. Keep in mind that full-scale social media management agencies wouldn’t just be looking at organic strategies but often offer ads, sometimes email marketing tie-ins, on-site content creation, etc.

Businesses that have large budgets and are looking for a more comprehensive and sophisticated approach to social media management may find working with full-scale social media management agencies the best fit. However, it is again essential to ensure that the agency has a proven track record of success and can deliver the results you're looking for.

Choosing the right social media management solution

Choosing a social media management solution for your business requires careful consideration of your budget, goals, and the level of expertise and resources you need. When evaluating social media management providers, consider:

• Experience—Look for providers with experience in your industry and a proven track record of success.
• Services—Evaluate the range of services the provider offers and ensure they align with your business's goals. It's important to work with a social media management provider that can tailor its services to your specific needs and deliver measurable results.
• Pricing—Compare pricing between providers and ensure your social media business goals are realistic. For example, don’t expect full-scale social media management agency results from an entry-level solo social media manager.

Businesses that understand that social media management is an investment go further than those that see it as an expense. Research the individual or agency you are considering partnering with so that you know what to expect. Ask for case studies, examples, and realistic timelines for a return on social investment. Testimonials are great, but results and data are even better.

Social media management FAQs

Below we have summarized the most important questions and answers on the subject:

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