Usually many social media agencies have trouble convincing their clients on a very basic point that social media is not free. Yes, it is true. Social media is not free and i'll explain why. Clients usually have an opinion that social media is a totally free domain which doesn't require much marketing budget. Hire few interns & the matter is resolved, or hire some mom & pop agency and pay them some fix amount every month to manage your accounts. But this is a totally wrong approach.
Tremendous amount of information is being generated online by millions of users worldwide. A large brand can have millions of mentions around the world while a smaller brand can have few thousands. In that scenario, larger brands have no escape from using some high end analytics tools to listen about their brand & thus act upon the information in a timely fashion. While smaller brands can use some free tools to listen like Google Alerts or Twitter Search but investment is still required in terms of skilled social media marketers, salaries and time. Apart from that advertisements on social networks like Facebook & LinkedIn is a big plus looking at the way specific targeting can be done which is not possible in other mediums.
Social media networks are free to join because they will not expand without being freely available. And they earn money using customer or brand driven advertisements. Now, all kinds of brands can start their official accounts on these different social networks free of cost but as mentioned before, to manage those online properties one requires skilled manpower (who need industry standard salaries/perks) and an ongoing investment of time. For instance, Ching's Secret has a team of over 30 people managing their twitter & facebook accounts and at the same time they have integrated social media with ORM & CRM with nearly 65% of the marketing budget allocated for social media marketing.
So, in a nutshell, social media cost involves:
a) Cost of social media analytics tools like Radian6 or upgrading to premium version of free tools.
b) Cost of social media marketers.
c) Investment of time.
d) Cost of advertisements on social platforms like facebook, twitter etc.
What's your opinion about cost of social media? Share in the comment box below.
Tremendous amount of information is being generated online by millions of users worldwide. A large brand can have millions of mentions around the world while a smaller brand can have few thousands. In that scenario, larger brands have no escape from using some high end analytics tools to listen about their brand & thus act upon the information in a timely fashion. While smaller brands can use some free tools to listen like Google Alerts or Twitter Search but investment is still required in terms of skilled social media marketers, salaries and time. Apart from that advertisements on social networks like Facebook & LinkedIn is a big plus looking at the way specific targeting can be done which is not possible in other mediums.
Social media networks are free to join because they will not expand without being freely available. And they earn money using customer or brand driven advertisements. Now, all kinds of brands can start their official accounts on these different social networks free of cost but as mentioned before, to manage those online properties one requires skilled manpower (who need industry standard salaries/perks) and an ongoing investment of time. For instance, Ching's Secret has a team of over 30 people managing their twitter & facebook accounts and at the same time they have integrated social media with ORM & CRM with nearly 65% of the marketing budget allocated for social media marketing.
So, in a nutshell, social media cost involves:
a) Cost of social media analytics tools like Radian6 or upgrading to premium version of free tools.
b) Cost of social media marketers.
c) Investment of time.
d) Cost of advertisements on social platforms like facebook, twitter etc.
What's your opinion about cost of social media? Share in the comment box below.
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