Facebook Marketing Costs Vs. Benefits
In a basic sense, Facebook marketing can be completely free. After all, there’s no charge for creating a Facebook business page or for inviting your friends to like that page. There is obviously no charge for making posts or sharing content either. That being said, the average business (accounting for small, medium, and large sized companies) spends between $4000 and $7000 monthly on social media marketing, and Facebook rakes in over ten billion dollars per year in advertising sales. Companies invest this money because social media marketing is effective!
In this article, we are going to analyze the three basic expenses associated with Facebook marketing (page management, content creation, and paid advertising) and discuss the costs and benefits of each one.
Back in the old days (i.e. before 2008 or so) social media marketing was enough of an afterthought that many businesses simply lumped it into their marketing department, and most small business owners handled it themselves.
As the power of social media marketing continues to grow and become more apparent, most businesses now hire a social media expert or a social media firm in order to better manage their pages. They may also invest in professional online social media tools such as Hootsuite or Buffer in order to maximize efficiency.
Professional social media managers charge varying rates for their services: the average full-time social media marketer earns roughly $46,000 per year, but many budget-conscious small businesses hire part time freelancers instead. Social media tools are generally very affordable (Hootsuite pro costs $10 per month, for example) and can save your social media marketer a lot of time (thus saving you a lot of money.)
Facebook, like all social media, is driven by content. In order to earn the attention of your audience, you need to consistently produce quality content for them to consume and to share. This could range from blog posts to memes; from in-store videos to witty statuses. Whatever it may be, this content can be time consuming to create–and many companies hire writers, photographers, etc. in order to help them.
The good news is that if you are going to hire a social media manager, content creation and curation is generally an important part of most social media manager jobs. You may occasionally wish to invest in a bit of extra content (i.e. bringing in a photographer to take professional store pictures) but for the most part you will already be covered. Medium to large sized companies that need large amounts of content, of course, may hire teams of writers, photographers, etc. in order to achieve their goals.
Studies have shown that Facebook ads offer the lowest cost-per-impression rate of all major advertising mediums. What’s more, Facebook’s advertising policies are extremely flexible, allowing you to spend as little as $1 per day! Considering the fact that the organic reach of Facebook content has been steadily declining while the average ROI on Facebook ads is astonishingly good, we believe that it is indispensable for every company to spend at least a little on Facebook ads. With the flexibility that Facebook offers, the amount depends entirely on you and your budget!