A company’s confidence in social media marketing directly corresponds to the company’s readiness for change. Most online merchants have a firm understanding that social media marketing is critically important; however, they’re not certain how much it will help or cost. The answer depends a great deal on the individual business and situation.
Social media solutions target customer relations; improving consumer satisfaction, trust and loyalty. As such, these innovative practices will help to establish your Company’s brand and improve your over-all reputation in the marketplace. Clearly defined, social media refers to online technologies and practices used by people to share opinions, insights and experiences with one another. Consumers actively share information and experiences by way of text, images, audio or video; and deliver it to the Internet population utilizing:
• Blogs,
• Message boards,
• Wikis,
• RSS,
• Podcasts and
• Social Networking websites.
When determining the duration and cost of a social media endeavour, you must clearly define your company’s:
1. overall marketing budget,
2. target audience, and
3. reasonable expectations
By carefully studying these contributing factors, marketing professionals can determine how much social media marketing you need, and what kinds of social media marketing you can afford.
It is very common for social media marketing campaigns to the billed at an hourly rate. Often, the purchase of a minimum number of hours is necessary; encouraging merchants to embark on small campaigns, as part of a larger endeavour.
Be prepared to allot a minimum of $1000 to set up and launch a targeted and effective, social media campaign. Furthermore, ongoing maintenance, participation and expansion will incur additional costs that could exceed the initial investment. The 20 to 40 hours a month that is dedicated to your social media success, validates the cost.
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