How much does a social media strategy cost?

Aktualisiert am 8. March 2024 von Michael Horn

As an entrepreneur or the person responsible for your company’s marketing campaigns, you’ve probably already thought about implementing a social media strategy. But how much would such a strategy actually cost you?

The costs for a social media strategy can vary greatly and depend on various factors. Some of these factors are:

Size of your company
Industry in which you work
Goals you want to achieve with the social media strategy
Scope of planned activities on the various social media channels
Choice of external service provider or internal team responsible for implementation

Below, we’ll take a closer look at some of these factors to give you a rough idea of what a social media strategy for your business might cost.

Size of your company

The size of your company plays an important role in determining the cost of a social media strategy. The larger the company, the greater the effort required to implement a successful strategy.

A small company with fewer than 10 employees can establish a solid social media presence with a budget of just 1,000 to 2,000 euros per month. For larger companies with more than 100 employees, however, significantly higher budgets are required to implement a comprehensive strategy. Costs of 5,000 to 10,000 euros per month can be incurred here.

Industry

The industry in which you operate also has an influence on the costs of a social media strategy. Sectors with high competition, such as the fashion or automotive industries, often require larger budgets in order to stand out from the competition.

In sectors with less competition, however, a successful strategy can also be implemented with a smaller budget. Costs of 1,000 to 3,000 euros per month may be sufficient here.

Goals

Your goals are an important factor in determining the cost of a social media strategy. The more complex and extensive the objectives, the higher the costs of implementation.

For example, if you only want to establish a strong presence on the most important social media channels, this can be achieved with a budget of just €1,500 to €2,500 per month. If, on the other hand, you also want to direct targeted traffic to your website and generate sales, higher budgets are required. Costs of 5,000 to 10,000 euros per month can be incurred here.

Scope of the planned activities

The scope of the planned activities on the various social media channels also has an influence on the costs of a social media strategy. The more extensive the planned activities, the higher the costs.

A simple strategy, where only regular posts are published on the most important social media channels, can incur costs of EUR 1,500 to 2,500 per month. However, if you also want to carry out targeted influencer marketing or paid advertising campaigns on social media channels, higher budgets are required. Costs of 5,000 to 10,000 euros per month can be incurred here.

Choice of service provider or team

Last but not least, the choice of service provider or internal team to implement the social media strategy also plays an important role in determining the costs.

An external service provider can cost between 2,000 and 5,000 euros per month, depending on size and experience. An internal team, on the other hand, can be significantly cheaper if the company already has the necessary resources.

In summary, it can be said that the costs for a social media strategy can vary greatly and depend on many factors. To get a rough idea of what such a strategy could cost for your company, you should contact an experienced service provider or inform yourself thoroughly about the various factors.

However, it is important to note that a successful social media strategy requires not only money, but also time and commitment. However, a good strategy can lead to significant added value for the company in the long term by increasing awareness, driving traffic to the website and generating sales.