Posted by: FDMC Digital Media LLC | April 21, 2012

Paying The Price For Social Media

In  past blogs, I have focused on the small business and how to launch a social media campaign.  Getting their brand out with basic social media tools.  If you have not read those blogs, you might want to go back in the “vault” and read them.  In a nutshell, trying to help the Mom and Pop businesses launch a basic Facebook fan page or Twitter Account to get into the digital age was the main focus.  While many larger SMBs have tried to do this on their own, they may now ask themselves “What does it cost to hire someone to do this for me?”  After some research around my area from smaller marketing firms to the “Big Guys”, you may find yourself with a sticker shock.  I know I had to ask myself, I offer my services on most bases as a courtesy, maybe I should start charging more!  (Just kidding) Seriously, not trying to take business away from these folks or even myself, but you can do some of this yourself if you are just wanting to break into social media branding, however  if you are really serious about it, email me for more information.  Now if you want to shop for any kind of marketing or social media agency, here are some rates I found (averaged out) for particular services.  Keep in mind I am located in a somewhat rural metropolitan area but within 50 miles of a large city.

Facebook-Twitter

Setup fees:  $300.00 ot $1,00.00  Monthly content charges:  $200.00 to $500.00 Blitz or Promotion Campaign. (Also known as short-term)  $1,000 to $5,000.00. This usually includes integration with Twitter, FB ads, daily or weekly updates and it’s packaged. Does not include your prize or giveaway if you are offering anything.   Short term usually means 2 to 6 months.  Expect higher rates from larger or major city firms.

Video

So you like to have some video on a new YouTube channel or Facebook site?  Shoot, produce, and edit is usually offered as a package.  $300.00 to $10,000.00. That is for a 2 minute video with one camera and basic graphics. Longer videos, two camera shoots or added production is more.  The big gap in prices is due to shopping marketing firms and actual production houses who do nothing but video using professional broadcast equipment. they did offer web videos.   Rates quoted are for HD video, 1080.

Social Media as a Strategy

This is consulting, monitoring, keywords and analytics, measurement of results, and offering professional advice.  The more keywords and analytics to measure the higher the fees.  Average fee is $2,000.00 with some marketing firms as high as $10,000.00 for an audit report with recommendations.  If you were not using video, this can be your most expensive investment hiring a professional Social Media Marketing firm.  You just need to ask yourself, “How bad do I want to see how Social Media is working for me?  I have to say that most do not understand how the internal measurements work so for SMB’s who have the money to invest in Social Media, this is a no brainer.

Social Media Training

If you just want to  hire a professional consultant to train one or more of your staff to implement social media including making landing pages or do content management expect to pay $30.00 to as much as $100.00 per hour for the privilege.  Most will offer block timing of say 5 hours and negotiate a rate for you.  Want a nice lunch and learn workshop? Expect to pay $$500.00 to $1,000.00.  Travel is extra.
In conclusion, as stated these rates are from my area and I can safely say that if you live in a major city the rates are going to be as much as 20 to 30 % higher.  For smaller businesses, these rates with the exception of maybe bringing a trainer on board are beyond their budgets.  for larger SMBs it may make sense to have someone outside of their staff to do this for them at least for a minimum contact period.  Hope this helps.  It was a bit of a surprise to me and glad I did the research.   Email me with your comments or your experiences with consulting firms.

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