09 Jan 23
Are you looking to launch a full-fledged social media campaign but are worried about the cost?
Social media marketing campaigns are a large part of digital marketing, particularly in the medical device and healthcare industry which is why we’ve put together this breakdown of the top things you need to think about that’ll affect your campaign budget.
The very first thing that you should be asking yourself before you start a social media marketing campaign is to understand why you’re doing it in the first place?
Having social media for the sake of having social media is a time-consuming waste of time and you’ll just be burning your budget aimlessly. When it comes to digital marketing you need to be direct and have a clear goal in mind to see any form of ROI.
A social media campaign can be beneficial in helping you achieve a number of goals, such as:
Your first step into the world of social media marketing is planning and research. Understanding the digital landscape is paramount to building a strong campaign that will be able to produce the results that you want.
Depending on who you’re working with, whether it’s an agency or a freelancer or your own in-house team, the price will vary. Most marketing agencies or freelancers might charge by the hour, so you’ll have to pay the agreed rate while they do a deep dive into where your audience is on social media.
Once your social media manager has a good understanding of the social media landscape and how to target your audience, they can begin putting together a plan. Social media plans are usually done monthly and can take anywhere between 5- 15 hours to build.
The next step, after you’ve planned out all your content is to build it. When it comes to designing your posts there are several options that you can go for.
If you’re looking to create high-quality eye-catching pieces working with a graphic designer might be a good choice for you. Depending on whether you’re with a marketing agency or, reaching out to a freelancer or even having your own in-house designer, the price will vary depending on your situation.
Hiring a graphic designer is not for everyone, but don’t fret as you’re not completely on your own. Building your own social media posts is now easier than ever with tools such as Canva, Adobe Illustrator and Procreate. However, except for Canva these tools don’t often have a free version so you may have to pay for a subscription.
Now a common question that social media managers get asked a lot is do you need a scheduling platform? Platforms like Hootsuite and Sprout Social offer paid services to schedule your social media posts for you so you never have to worry about missing a day again.
While scheduling your posts is an extremely good idea is it worth paying for the service? Most platforms now such as LinkedIn, Facebook and even Canva have their own built-in scheduling software which you don’t have to pay for.
While Hootsuite and SproutSocial do have more to offer such as reporting and AI capabilities it is really up to you to decide if this cost is really necessary. If you want a full breakdown of all that social media scheduling platforms can offer you then have a look at our article.
When it comes to social media management having a reporting system in place is essential to a strong and successful social media campaign. Social media reporting can come in all forms from free options on Google Analytics and Google Search Console to paid services with Hootsuite and SproutSocial. Whichever path that you choose to take will affect the price of your overall social media campaign so it important to factor this into the budget.
Have more questions about how to manage social media analytics? Head over to our full guide.
Now that we’ve broken down the cost of the social media process and how it all adds up to the final price this section of the article will explore all the different things that will affect the final price, whether you’re working with a digital marketing agency or a freelancer or not.
The number of social media posts that you’ve incorporated into your digital marketing campaign will affect your final cost. It’s much more expensive to post 7 days a week than it is to post 3 so it’s best to be selective in what and when you post in order to make the most out of your social media campaign.
Your social media campaign cost might also be influenced by the type of social media posts you are going to share on your platform. When running an effective social media campaign, it’s important to have variety in your posts such as infographics, influencer marketing, animation, videos etc.
In the long run, it will most likely cost you more to create social media videos than to create infographics so make sure you plan out your time of content carefully and make the most of this variety.
One of the best things about social media advertising is that you can reach out to people across a number of different platforms. From X (Twitter) to LinkedIn to Facebook there is a huge variety in what and where you can post.
However, try not to get too ambitious in the number of social media platforms you work with as it might thin out your content. It’s much better to focus on one social media platform and do that really well than lots of platforms poorly. If you want to know what platform you should be working with then watch this short video.
Consistency is the best social media strategy that you can employ in your digital marketing, which is why having brand guidelines will help you keep your marketing on track and save you money.
Having consistent social media posts will help push your audience down their buyer’s journey faster and more efficiently, as it’s estimated that your audience needs to come into contact with your brand at least 15 times before they take action.
Being inconsistent in your digital social media marketing will bring this counter right back to 1 each time you make a drastic change and would be a waste of money. These guidelines will help you stay on track and lower your marketing costs overall.
Now that we’ve covered organic content, we’re going to move on to sponsored content or social media ads. When it comes to paid social media ads there is a huge variety of options with lots of different effects. They usually vary from platform to platform, and if used targeted they can be very effective when it comes to helping you achieve your goals.
Platforms such as LinkedIn charge their ads in three ways:
Depending on what your goals are Facebook ads vary in price. On average these paid ads cost $0.94 for every click or $12.07-$14 for 1,000 impressions.
Hopefully, this has given you a better understanding of all the different factors and variables that go into creating a social media marketing campaign and it’s overall cost. While there is no definitive number we can give you we hope you now understand the areas of the process where you could be saving money and where you should really be spending it.
Looking to create high-quality marketing campaigns?
You’ve landed in the right place.
Podymos is a dedicated healthcare marketing agency, specialising in downstream medical device marketing. Our services might be a bit pricier than non-specialised agencies and freelance teams, and that’s because our exclusive focus on the medical device space equips us with specialised knowledge and expertise that others might not offer.
For compliant campaigns that align with your business objectives, we’re here to assist. Simply provide your contact details, and we’ll reach out promptly for a no-obligation discussion.
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