Social Media Marketing Costs: Doing It For Free, At A Low Cost Or At A Premium

How to determine whether you should do your social media marketing for free, at a low cost or at a premium.

You are much more likely to achieve your profit goal through the social media, if you do what you may need to do to profit correctly with it, in your business.

You can

  • Pay others to do all of your social media marketing for you or
  • You may do some part of it by yourself and then pay others to do the rest or
  • You may choose to do everything by yourself

If you don’t have the money or enough money to pay others to do all, or some of your social media marketing, you can learn how to do it by yourself, and then use what you may have learnt to profit. You can then use some of your profits to grow your business, and pay others to do all or some of what you may need to do, to make money and more money in your business through the social media.

You should ideally use other people’s efforts (that is, your employees’, third parties’ through outsourcing etc), for and with your social media marketing, you are likely to achieve a lot more within a shorter time frame with this, and will most likely be more efficient too. You are also more likely to get some better results too.

You may need more than one person to manage and provide your business with everything it may need, to profit and/or make you as much as you want through the social media.

Every business (whether it is big or small, local or international, offline or online) irrespective of location or country, can generally get to its targets on the social media, once the business has done some research to determine if its targets can be found on the social media.

In order to make money through the social media in your business, whether you are doing your social media marketing for free, or paying others to do it for you, you will need to set some specific social media goal (or ROI), for some specific period of time, that you would want to achieve in your business through the social media. And will also need to create and implement a social media strategy and plan, that will help you to accomplish the social media goal, that you may have set for your business.

You can create, manage and execute the social media strategy and plan, that you will need to achieve your social media profit goal, by yourself, and/or with the help of your employees and/or third parties (through outsourcing).

In order to get the best options that will work for your business on the social media, you will need to do some research to determine how much it will potentially cost you in terms of skills, tools, money, time and resources, to achieve your social media profit goal, and will also need to do some review and analysis of your potential costs too, before you start promoting or marketing your product/service on the social media.

You can get the figures that you need for the review/analysis of your potential costs, by checking and/or asking for some price quotes online, on the different types of services, tools etc, that you will need to create, manage and execute the social media strategy and plan that you will need to, potentially achieve your profit goal through the social media.

To determine what will work for your business, you will need to

  • Set some X (specific) amount of net profit, that you will want to achieve through the social media within a specific period of time
  • Determine what you will need in terms of skills, tools, money, time and resources to potentially make your specified X amount of profits through the social media
  • Determine what you can afford to do
  • Choose what you can afford, that is, what will work for your business

To demonstrate how to do this, we would assume (for demo purposes), that you have set a goal to make $10,000 in net profit, through the social media within a year, and that you have created a simple social media strategy and plan (as shown below) for your business to achieve this.

NoteAll of the following example specifications, numbers and figures are for demo purposes only, you will need to work with your own numbers and figures, and will also need to determine what you will need to do, in your own business specifically, by doing some research of your own, in order for you to know what will work for your business.

What you choose to do and how you work at your own social media marketing activities, and the level, amount and the type of skills, expertise, tools, money, time and resources, that you choose to commit to your social media marketing, are what will determine the extent or the type of results or profits that you will get, or achieve through the social media in your business, within any specific period of time.

The Demo Example

1). Your Social Media Goal

For this demo example, your goal is to make $10,000 in net profit from the social media within one year

2). Your Social Media Strategy

In order to achieve your profit goal, we will assume that you have defined the following social media strategy to

  • Promote on Facebook and Twitter
  • Promote daily by posting on both social media sites on a daily basis
  • Post your content from Thursday through Saturday daily on a weekly basis on Facebook and Twitter
  • Promote your ads and/or offers in your posts every Friday each week
  • Schedule all your posts a week ahead of time
  • Follow 10 people (that is, your target audience) daily on Facebook and Twitter

We will also assumed that after you have done some research, review and analysis on what it would take, in terms of skills, tools, money, time and resources, for you to achieve your profit goal, that you were able to determine that, you can potentially achieve our demo example goal of making $10,000 in net profit in a year, through the social media with the following

(a). Tools

Some paid social media management and marketing tools

(b). Staff

The staff that you will need to work with you on this will include

  • Yourself (You will be working on this as a side role)
  • Two employees (Both of whom will be working with you on this as a side role too)

(c). Freelancers

You will be hiring one or more freelancers to create all the content/articles that you need for your social media posts throughout the year

(d). The Social Media Managers/Assistants That You Will Need

You and your (two member of) staff will provide the social media management and marketing services that you need to achieve your profit goal with this.

(e). The Content That You Will Need

You realized that you will need to create more than 300 original and unique articles in a year, that will form the bulk of your social media marketing costs. For this demo example, all of these will be created by one or more freelancers for your business.

(f). The Ads And Offers That You Will Need

The ads and offers that you will be using with your social media posts, will be created by you and your (two) employees.

(g). Your Potential Costs And Profits

Your estimated potential costs for the year is as follows

  • Your Potential Social Media Marketing Costs: $8,000
  • Your Potential Revenue From The Social Media : $18,000
  • Your Potential Net Profit: $10,000

This is all based on the assumption that you will be generating some of your business revenue and income, from some other ad media/methods apart from the social media, that will help you to absorb the costs of your own salary and that of the two members of staff, that will be working with you on this. You can however choose to calculate your social media marketing costs in whichever way you prefer.

Once you have determined what you need to potentially achieve your profit goal in this manner, your next step will then be to create a plan for your social media strategy, and then implement it, in order for you to achieve your goal. In this demo example, you will be creating the plan for your social media strategy above, together with your two members of staff.

About The Demo

The demo above is an example of what you may need to potentially achieve your profit goal through the social media at a premium. If you cannot afford to implement it however, you may then do some additional researches, to get and determine some other options that you would be able to afford in your business, such options will typically be some free or low cost alternatives that may work for you and your business.

You need to note that once you cannot, or are unable to provide your business with as much as it may need, in terms of skills, money, tools, resources etc (as you may have determined in your researches), to potentially make you some X amount of profits within a specific period of time, through the social media, you may not be able to make as much as you want through the social media, within the specific period of time that you may have originally set for this in your business, you will need to bear this in mind.

You may therefore need to change/modify (that is, lower) the profit goal that you may have set, if you cannot provide your business with what it may need, to potentially make you as much as you want within a specific period of time, through the social media.

To Choose The Best Option For Your Business

Thus, the best way for you to get the best or optimal social media marketing options for your business is to

  • Determine what it will take you to potentially make some X amount of profits within a specific period of time through the social media (as demonstrated above)
  • Determine if you can afford to provide it
  • Implement it if you can afford it
  • Or if you cannot afford it, research some other free and low cost options that you can afford
  • Compare such free and low costs options to determine what will provide your business with the best and optimal results
  • And then choose the best option that will work for you and your business

Getting Some Alternative Options For Our Demo Example

To get some alternative options for our demo example above, we will assume that you did some research and was able to determine that the following options will also work for your business. Hence if you cannot afford to do or implement your ideal/premium option above, you may choose to do any one of these instead

1). Free Options

Option #1

With this option, you will be needing or using

(a). Tools

Some free social media management and marketing tools.

(b). Staff

You will be working on this alone (as a side role).

(c). The Social Media Managers/Assistants That You Will Need

You will be providing the social media management and marketing services, that you need to achieve your profit goal with this, by yourself.

(d). The Content That You Will Need

You will be creating about 20 original and unique articles in a year, by yourself for this.

(e). The Ads And Offers That You Will Need

You will be creating the ads and offers that you will be using with your social media posts by yourself.

(f). Your Potential Costs And Profits

Your estimated potential costs for this option within a year will be

  • Your Potential Social Media Marketing Costs: $0
  • Your Potential Revenue From The Social Media : $1,400
  • Your Potential Net Profit: $1,400

Option #2

(a). Tools

You will be using some free social media management and marketing tools with this option

(b). Staff

Two of your staff members will be working on this for you (as a side role)

(c). The Social Media Managers/Assistants That You Will Need

Your two members of staff will be providing the social media management and marketing services that you need with this.

(d). The Content That You Will Need

With this option, your two members of staff will be creating about 50 original and unique articles in a year, for your business.

(e). The Ads And Offers That You Will Need

Your two members of staff will be creating the ads and offers that you will be using with your social media posts.

(f). Your Potential Costs And Profits

Your estimated potential costs for this option within a year will be as follows

  • Your Potential Social Media Marketing Costs: $0
  • Your Potential Revenue From The Social Media : $3,000
  • Your Potential Net Profit: $3,000

2). A Low Cost Option

Option #3

With this option you will be using or needing the following

(a). Tools

You will be using some low cost social media management and marketing tools with this.

(b). Staff

You will be working alone on this (as a side role).

(c). The Social Media Managers/Assistants That You Will Need

With this option, you will be providing the social media management and marketing services that you need to achieve your profit goal.

(d). The Content That You Will Need

You will be creating about 20 original and unique articles in a year, by yourself for this.

(e). The Ads And Offers That You Will Need

You will be creating the ads and offers that you will be using with your social media posts by yourself.

(f). Your Potential Costs And Profits

Your estimated potential costs for this option within a year will be

  • Your Potential Social Media Marketing Costs: $190 (For the social media tools you will need)
  • Your Potential Revenue From The Social Media : $2,000
  • Your Potential Net Profit: $1,810

You can do some comparison of each of these options in order to choose what will provide your business with the best and optimal returns.

You may achieve or accomplish more than your planned potential net profit, at the end of the year, with any of these options, if you choose to optimize your promotions for more profits, based on the tracked results, you would be getting in your business, when you implement any one of these.

You can do some research to come up with as many affordable options as possible, that will work for your business, when you are doing this on your own. You may also want to review some of the examples at How To Generate Some X Amount Of Sales/Profits Through The Social Media and Your Social Media Management Services Costs.

If You Have Already Establish A Social Media Presence

You can also determine what it will potentially cost you too, in terms of skills, money, tools etc to achieve some specific X amount of profit within a specific period of time, as demonstrated above, in your business, and then adjust and/or change your social media strategy and plan to fit this.

You may need to review/audit your existing social media accounts/profiles, in order to ensure that they have been set up correctly to profit. You can do this by setting some social media profit goal for your business, and by reviewing what you need to create and implement a social media strategy and plan, that will help you to achieve your profit goal, at Your Social Media Strategy And Plan.

Some Of What To Consider With Your Social Media Sales And Marketing

  • To get some results quickly through the social media, you can promote and market your product/service
    • With contests (with the right type of rewards/prizes)
    • With paid ads (these can help you get to your targets, that is, your potential customers faster
    • Through social media influencers
    • Through other social media users
    • By working with a social media marketing expert
    • By working with a social media service
    • By using more than one person for your social media marketing (this could be your employees, third parties through outsourcing etc)
    • By paying others (your employees and/or third parties through outsourcing) to create your content, ads and offers for you
    • By paying others to create, manage and execute your social media strategies and plans
  • You should ideally also
    • Promote daily on the social media for at least a month, in order for you to get some data/results to work with in your business. You can schedule your posts and promotions ahead of time including weekend, with some free or paid social media management tools
    • Track your results and improve your next promotions based on your tracked results consistently, until you get the type of results that you want through the social media
  • You will generally need to test if doing your social media marketing for free, at a low cost or at a premium is the best option for your business, after you may have chosen to use either one of them.
  • If you have been promoting your business on the social media daily for about 1 to 3 months, and you are not getting some appreciable results from it, you may need some expert/professional help.
  • You should use automation as much as possible with your social media marketing.
  • If you can find your targets on the top social media sites, that is, Facebook, Twitter, Pinterest, LinkedIn and Google Plus, you should promote/market your products and/or services on them
  • You can do your social media marketing for free first, in order for you to determine and know what you should do, or what you should do next
  • You may need to get some training and/or coaching for yourself and your staff, in order for you and/or your staff to be able to provide the social media management and marketing services, that your business will need to profit through the social media by yourselves.
  • You should generally keep track of your sales, leads, newsletter subscribers, visitors/traffic, number of followers, targets, engagement rate and reach, with some ad tracking software, you will need to do this in order to achieve your social media profit goal.

You can review some of what you will need to create, manage and implement your social media strategy and plan, and the skills you will need to do them, at Your Social Media Strategy And Plan. Depending on the options that you may have chosen for your social media marketing, you, your staff and/or other service providers (that you may have hired), will need to do and/or provide every aspect of what is noted/discussed at Your Social Media Strategy And Plan, in your business, in order for you to be able to achieve your social media profit goal.

Some Questions You May Have

How Will I Know What I Need?

You can learn and get to know what you need to profit in your business through the social media on this site. You may also get some professional help to determine this too by employing others, and/or by getting some third party social media management service to help you with this.

Here are some links that can give you some ideas on what you need to profit in your business through the social media.

Using Social Media Marketing For Profit
How To Make It Work For Your Business
How Do You Make Money On A Site Through The Social Media?
Social Media Marketing: How To Generate Some X Amount Of Sales/Profits Through The Social Media
… more >>

Who Can Help Me To Determine What I Need?

You can either employ the right type of staff, to help you with what you need to achieve your profit goal on the social media, or you may choose to get some help through outsourcing from some social media services/professionals, such as those that are listed at Social Media Management, Marketing Tools & Resources.

.

How To Make Money Through The Social Media
Using Social Media Marketing For Profit
Social Media Marketing: How To Make It Work For Your Business
How Do You Make Money On A Site Through The Social Media?
How To Generate Some X Amount Of Sales/Profits Through The Social Media
… more >>

Resolving Your Social Media Sales & Profits Issues And Problems
If You Are Having Some Issues With Your Profits/Sales
Some Core Reasons For Your Social Media Sales/Profits Issues Or Problems
If You Are Not Making Any Sales
… more >>

Social Media Marketing In Different Countries
Using Social Media Marketing For Profit In Australia
Using Social Media Marketing For Profit In The UK
… more >>

 

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