How Much Does Social Media Marketing Cost?

The value business owners get from social media marketing is worth its weight in gold. You can improve engagement, acquire new customers (and retain current ones), boost sales, and more.

But how much does social media marketing cost?

On average, $500-$20,000+ per month, $50-$300 per hour, and $500-$50,000+ per project. But like most other marketing strategies, social media marketing costs vary across the board depending on several factors, including your business goals, campaign scope, platform choice, and service provider.

That’s why we put together this pricing guide, to give you a feel of current social media marketing costs and help you set your budget accordingly.

What is the average cost of social media marketing?

How much you pay for social media marketing will depend on how you execute your social media marketing campaign. For example, doing it on your own (DIY) or working with an in-house team, freelancer/consultant, or social media marketing company will determine the rate.

“For startups or small businesses, engaging a freelance social media marketer might range from $500 to $2,000 per month, depending on the breadth of services,” says Sam Tarantino, who leads a fractional CMO practice. “In contrast, social media marketing agencies offer more comprehensive services but often at a starting point of $3,000 to $20,000 per month based on the campaign's size and complexity. An in-house SMM team's costs are more fixed, including salaries, benefits, and additional overhead, which might be steeper but provides dedicated focus.”

Here’s a breakdown of social media marketing costs based on different pricing models:

• Per month: Retainer or subscription-based costs

• Per project: Costs per specific project areas or entire project

• Per hour: Costs per service(s) rendered

Social media marketing costs per month

On average, social media marketing services cost $500 to $20,000+ per month. Actual costs will depend on your business size and goals, campaign scope, and social media marketing service provider.

Social media marketing services cost per project

On average, social media marketing services cost $500-$50,000+ per project.

Per project costs are ideal for specific campaign goals. For example, your campaign goal could be to boost social media posts by $5 per post through social media advertising, targeting audiences within a 10-mile radius.

The amount you’ll pay will depend on whether you’ll do the work in-house, or outsource to an agency, consultant, or freelance social media marketing specialist. Other factors like the campaign scope, requirements, and timeline will also count towards the cost.

Social media marketing services cost per hour

Some social media marketing service providers charge an hourly rate, ranging between $50 to $300 per hour. Again, the pricing will depend on your business needs and campaign scope and timeline. Some providers will also charge more or less than the average costs, depending on their location.

Source: HawkSEM

👉 Note: These are general social media marketing cost estimates. The actual price you pay may vary based on your specific social media campaign requirements.

How much does social media marketing cost per platform?

Depending on your business and target audience, you can use at least one of the best social media channels to market your brand and offerings. These are:

• Instagram

• YouTube

• TikTok

• Facebook

• X (Twitter)

• Snapchat

• Pinterest

• LinkedIn

Costs can run anywhere from a few to thousands of dollars, depending on your level of investment and marketing budget.

🛑 Remember: The ranges below are estimates and can change depending on multiple factors, including the social media platform’s base pricing model. You can, of course, get actual costs during the ad setup process.

Below is an overview of the social media marketing costs per platform.

Instagram marketing costs

On average, Instagram marketing costs $0-$0.08 depending on whether you’re paying per click, impressions, and engagement. These costs vary based on factors like:

• Ad type

• Industry/market and competition

• Bid amount/budget

• Estimated action rates

• Ad relevancy

• Holidays and events

• Gender

• Day of the week

Below are the Instagram marketing cost estimates:

• Cost per month: $0-$500+

• Cost per click (CPC): $0-$2+

• Cost per 1000 impressions (CPM): $0-$10+

• Cost per engagement: $0.03-$0.11+

Source: WebFX

YouTube marketing costs

On average, YouTube marketing costs range between $0.11-$0.50 per view, or more, depending on the budget you set for your campaign. YouTube marketing costs vary monthly, ranging from $100-$1,000 or more, depending on your ad type, budget, and competition.

YouTube marketing costs also vary depending on:

• Ad format

• Bid or budget

• Targeting options

• Bidding selections

• Seasons

The ad format you use will also influence the YouTube marketing costs. Bigger ad space and increased ad exposure will cost more. Below is a table showing the different YouTube ad formats:

Source: Google

YouTube follows a CPC and cost-per-view (CPV) pricing model, meaning your marketing costs will depend on user actions. For example, if a viewer watches the entire ad or clicks on it, you’ll pay for that action.

Here’s a summary of the average YouTube marketing costs:

Source: Mega Digital

TikTok marketing costs

TikTok also offers different marketing bidding and auction models as follows:

• CPV: A view is counted when a user watches a video for at least 6 seconds or clicks on it. Average cost per CPV bid ranges from $0.01-$0.30.

• CPM: An impression is counted when your video appears in users’ feeds, whether or not they click on it. Average CPM bid ranges from $0.50-$10.

• CPC: A click is counted each time a user clicks on your ad. Average CPC bid ranges from $0.02-$0.10.

• Optimized CPM (oCPM): An optimized CPM targets users likely to convert. Average oCPM bid ranges from $4-$10.

You can also partner with TikTok creators for influencer marketing, whose costs run anywhere from $5-$2,000+ depending on the type of influencer and campaign scope, among other factors.

Facebook marketing costs

On average, Facebook marketing costs range between $0-$0.30 for CPC and CPM ads, and $0-$5+ per like or per download. Facebook uses an ad auction to select and run ads, so the pricing will vary based on your target audience, bidding strategy, budget, and more.

Source: Mega Digital

Facebook marketing costs per month can run anywhere from $1-$3,000, depending on factors like:

• Campaign scope

• Industry

• Marketing goals

• Target audience demographics (like age and gender)

• Audience interests or attributes

• Budget/bid amounts

• Ad objective, placement, and quality

• Gender and age

• Season

X (Twitter) marketing costs

X (Twitter) marketing costs range between $0.26-$2 if you’re paying per first action or per follow for promoted accounts and depending on factors like:

• Industry

• Competition

• Bid type

• Billable actions

• Ad budget

• Ad quality score

Here are the average costs marketing on X (Twitter):

• Per month: $100-$10,000

• Per first action: $0.26-$0.50

• Per follow: $0-$4

Source: WebFX

Snapchat marketing costs

On average, Snapchat marketing costs start from $5 per day, but the recommended budget is $20-$50 per day for best results. You can control your spend on Snapchat Ads based on your budget and start and stop the ads whenever you want depending on the desired campaign results.

Snapchat Ads offers two main budget options:

• Daily: Ad spend per day

• Lifetime: Ad spend over the campaign course

Daily ads run on calendar days. For example, if your daily budget is $50, and you want your ad to run from 2PM today to 2PM tomorrow. Your ad will run for two calendar days, meaning you’ll pay $50 from 2PM today until midnight and another $50 from midnight until 2PM tomorrow.

The most common ways to advertise on Snapchat are:

• Snap ads: Appear in the midst of users’ stories.

• Collection ads: Display a series of products and are usually integrated into stories.

• Story ads: Appear in Discover area under the “For You” section and appear as native content from other media or news sources.

• Augmented Reality (AR) lenses: Turn into animated filters based on a viewer’s facial movements.

• Filters: Overlay on photos people add to their photos or videos.

Pinterest marketing costs

Pinterest marketing costs run anywhere from $0-$2 for CPC, CPM, or cost per conversion depending on the ad type.

If you opt for a per month plan, campaign advertising costs may start from $500 or more, depending on:

• Industry

• Target audience

• Campaign scope

• Ad structure, placement, and relevancy

• Bid amount/budget

• Competition level

Source: WebFX

Pinterest offers several ad formats as follows:

• Standard

• Video

• Idea

• Carousel

• Collections

• Shopping

• Showcase

• Quiz

You control your ad spend and duration. Depending on the type of campaign you want, you can also set your own bids or let Pinterest’s automatic bidding tools do it for you.

LinkedIn marketing costs

On average, LinkedIn marketing costs range between $0.26-$10+ depending on the ad cost type you select (CPM, CPC, or per send for Sponsored InMail campaigns).

LinkedIn marketing costs vary based on your campaign objective—which impacts the ad format, bidding strategies, and optimization goals—and LinkedIn’s ad auction. Each campaign objective is a different billable event, so you’ll only pay when that event occurs.

Source: LinkedIn

Other LinkedIn ad formats include:

• Sponsored content: Media-rich ads displayed in targeted LinkedIn members’ feeds on different devices.

• Sponsored messaging: Direct messages sent through LinkedIn Messaging to your target audience. You can either use a message ad, which are direct messages that deliver a targeted message with a call-to-action (CTA). Or you can use conversation ads in conversations with your audience. These can contain up to 5 CTAs.

• Dynamic Ads: Personalized ads based on LinkedIn members’ profile data.

• Text Ads: Self-service pay-per-click ads with flexible pricing for any budget. The minimum daily budget for text ads is $10.

• Single image ad: Ads that target a specific audience and appear in LinkedIn members’ feeds across desktop and mobile devices.

• Video ad: Interactive content promoted in LinkedIn members’ feeds across mobile and desktop devices to boost engagement.

• Carousel image ad: Swipeable series of cards that tell an interactive story and appear in LinkedIn members’ feeds.

• Document ad: Ads that promote gated and/or ungated documents directly in LinkedIn members’ feeds.

Source: WebFX

Outsourcing vs. in-house: Which is better for social media marketing?

You’re ready to level up your social media marketing strategy. But you’re torn between outsourcing or hiring an in-house social media marketer or manager.

We’ll break down the pros and cons of each option to help you decide which one is right for your business.

How much does it cost to hire a social media manager?

According to Glassdoor, a social media manager’s salary ranges between $41,000-$62,000 per year. However, there are several factors, like industry, experience, and location that affect the amount you’ll pay an in-house social media manager.

Pros and cons of hiring an in-house social media manager

Pros

• An in-house employee will know your brand inside out

• You can control your brand messaging and consistency

• It saves you time and money

Cons

• Costs of hiring and training in-house employee can add up quickly

• In-house teams have limited tools and bandwidth

• Higher risk of burnout owing to heavy workload

How much does it cost to hire a social media marketing agency?

On average, it costs $1,500-$25,000 per month to hire a social media marketing agency, according to Agency Analytics.

However, some agencies may charge lower or higher depending on their location, expertise, and access to sophisticated tools and resources, among other factors. For instance, social media marketing agencies on Fiverr charge anywhere from $150-$20,000, which gives you full access to experts with diverse skills, experience, and a broad range of services and solutions for high-scale projects.

Pros and cons of hiring a social media marketing agency

Pros

• Wealth of knowledge and expertise

• Updated trends and best practices

• Have more access to expensive tools and resources

Cons

• May cost more upfront

• Agencies juggle multiple clients, which can affect deadlines

• Risk of disconnect in brand messaging and strategy

Is a social media agency worth it?

It depends. A social media marketing agency brings expertise in different social media focus areas, including content creation, community management, and analytics. Plus, they’re always up-to-date on the current trends, tools, and social media best practices, meaning you’ll get a comprehensive strategy that covers all aspects of your brand’s social media marketing.

However, agency costs vary, which means you get what you pay for. For instance, if you pay $500 per month, you’re only limited to the services available in that package compared to a brand paying $1,000 per month. It’s different from an in-house social media manager whose contract covers all the services you’ll need for a fixed monthly salary.

That said, agencies can also help you achieve your goals and maximize ROI, ultimately making the investment worth it.

To determine whether a social media marketing agency is the right fit for your business, ask yourself:

• What is the agency’s experience and track record in your industry?

• Does the agency have references and case studies of past social media marketing work they’ve successfully handled?

• How does the agency stay current with updates and changes in the social media landscape?

• What’s the agency’s social media strategy approach?

• What’s the agency’s social media measuring and reporting process?

Ultimately, hiring an agency will depend on your business needs, campaign scope and complexity, and budget.

What determines social media marketing prices?

Several factors will impact your social media marketing campaign costs. Below are the main ones to keep in mind.

Business goals and needs

Social media marketing prices vary depending on business goals or current needs. Examples of social media marketing goals may include:

• Boosting brand awareness

• Increasing lead generation

• Improving community engagement

• Driving website traffic

Industry

The industry your business operates in can affect the price you pay for social media marketing.

If you’re in a niche or competitive industry, like biotechnology or logistics, which often requires more specialized services, you may pay more owing to the specialized knowledge and services, and tools needed to achieve your goals.

Campaign scope and complexity

The campaign scope and complexity will determine the social media strategy and planning required, how many platforms you’ll use, the number of people you’ll reach, and the time and marketing efforts needed for your ad campaign.

A smaller, less complex campaign may cost less than a larger, more complex one.

Platform choice

The number and type of platforms you pick for your social media marketing will be priced differently.

For example, WebFX agency estimates show that Facebook ads cost $0.26-$5 depending on whether you’re paying per click, impression, like, or download, while TikTok ads cost $0.01-$500+ depending on whether you’re paying per click, impression, view, or campaign.

In addition, marketing packages covering the top social media networks, like Instagram, TikTok, YouTube, Facebook, and X (Twitter) may be priced higher than a single platform campaign.

Community management

If you need dedicated social media management services to manage your social media presence and accounts, engage your audience, and moderate comments, the cost will vary depending on the provider you choose.

For instance, you may pay more if you hire an agency than a freelance community manager or an in-house social media manager.

Type of services

Your campaign scope and complexity will determine the type of services you’ll need. For example, you might need a package that includes social media search engine optimization (SEO), influencer marketing and collaborations, paid ad management, analytics and reporting, and more. All these can bump up the final price you pay.

Social media marketing tools

Depending on your campaign scope and complexity, you may pay more if the social media marketing service provider uses sophisticated tools, like AI or automation software, to execute your campaign.

Here’s a list of the tools you’ll need for social media marketing:

• Social media management: These tools help you improve productivity and consistency by tracking your social media posts, automating post scheduling and publishing, and providing core stats on your audience and post or campaign performance. Examples include Hootsuite, FeedHive, Buffer, and Audiense.

• Designs and videos: Social media is largely visual, so you’ll need the right graphic design tools to create and produce great visual designs and videos. Some tools offer templates and design resources ready to go, but you can also start from scratch and infuse your brand elements. Examples of design tools include Canva, Adobe Express, and Biteable. There are a wide range of AI content creation tools, which can also save you time, effort, and money, like Synthesia, Murf, and others.

• Landing page: A landing page helps you capture leads and present targeted messages so you can tailor your social media marketing efforts. Examples of landing page tools you can use are ConvertKit, Unbounce, and Landingi.

• Content and copywriting: You can hire a ghostwriter or copywriter to create compelling ad copy and social media content. However, some tools can make the process easier, like Grammarly, ChatGPT, Jasper, and more. These tools can help you proofread and refine your social media content, brainstorm and do SEO research, or create SEO-optimized copy.

• Tracking tools: You need to understand your content and campaign’s performance. With social media tracking tools, you can gauge key metrics like followers, reach, engagement, clicks, and conversions. Examples of social media tracking tools include BuzzSumo, SparkToro, and Sprout Social.

Service provider’s location

Some social media marketing service providers may charge more or less than the average costs depending on their location.

How much should you budget for social media marketing?

A good social media budget should be 8.7% of your company’s annual revenue. However, most businesses typically allocate 5%-40% of their overall marketing budget to social media advertising. The amount you allocate will depend on your needs, goals, and desired returns from your campaigns.

Get expert social media marketing services on Fiverr

Social media is a powerful tool to have in your marketing arsenal.

However, it requires a thorough understanding of your audience, the type of content that resonates most with them, and the cost of reaching them and attaining your business goals—that’s where social media management gets challenging.

Luckily, help is only a click away on Fiverr. Here, you can connect with social media strategists and experts talented in social media marketing, paid social media, and digital marketing. They’ll provide social media marketing strategies and compelling ad copy, and set up targeted ads that convert and maximize your return on investment (ROI).

Sign up to Fiverr to connect and work with talented freelance social media marketing professionals for your next campaign.