These days if you’re not using social media to build your brand then you’re way behind the times. But many companies are fooled into thinking that social media marketing is free, or at least close to free. A new infographic published on Focus.com uncovers some of the costs of using social media for marketing, from staff costs to external fees, advertising and more, and discusses whether the ROI makes social media spending worth the cost.
The infographic begins with a simple statement. “With social media at the height of its popularity, advertisers and companies find it an easy and trendy means of expanding their marketing horizons. While many companies may be fooled by the free cost to open a social media account, many fail to consider the expenses that go into running a social media campaign. Do the benefits really outweigh the costs?”
According to the infographic, running a social media campaign is far from free. In fact, the total cost of a standard social media campaign is likely to run you somewhere in the vicinity of $210,600. Sure, you could probably do it for cheaper, but without a pricey social media strategist, good programmers and designers to make your campaign look great and someone good to help you manage your campaign, then it isn’t as likely to be a success.
While it does look like Facebook fans spend more money on brands than non-fans, and that well-known brands did see an increase in traffic thanks to social media (most notably Old Spice with their Man Your Man Could Smell Like campaign which saw a 2700% increase in Twitter followers, an 800% increase in Facebook followers and a 300% increase in site traffic), was the money spent on these campaigns worth the return? Check out the infographic below and decide to yourself.
Megan O’Neill is the resident web video enthusiast here at Social Times. Megan covers everything from the latest viral videos to online video news and tips, and has a passion for bizarre, original and revolutionary content and ideas.