How to Know if Your Business Has the Budget to Work with a Social Media Manager
Hiring a social media manager is a game-changer for businesses. If you are a business owner currently DIY-ing your social media, you know firsthand that it can be challenging. However, it's also important to know if you have the budget to support this investment long-term.
Organic social media is a long game. It takes time to curate a strategy, craft content, engage, and continue to stay consistent with this to build an active community and maintain a social presence. Before investing in a social media manager, here are some things you should consider.
Understand The Costs
Freelancers: Typically charge $500–$2,000/month, depending on experience and scope.
Agencies: Fees range from $2,000–$10,000+/month for comprehensive services.
In-House: Expect a salary of $46,000–$82,000/year, plus benefits.
Assess Your Current Marketing Budget
The general rule is to allocate 5–10% of your revenue to marketing. Depending on the type of business, this can differ. However, the average was 9.1% in 2024. Now, this is your marketing efforts as a whole. Social media should be a piece of this percentage. In order to look at this cost, you need to assess all your current marketing efforts — from email to events, and everything in between. Where are these funds currently going?
Compare the Cost (And ROI) of DIY vs. Professional
Social media managers are experts. Hiring a social media manager can streamline and create efficiency, so you aren't spending your time on ineffective strategies.
With every piece of your business, of course, you want to consider what impact it is having. A great measure of this is the ROI, or return on investment. If you are currently DIYing your own marketing, you might have the thought "it's free, I'm doing it all myself." This doesn't exactly mean that your ROI is fantastic. You have to consider the amount of time you are putting in. Being a business owner with alllll the skills you have, your hourly rate is likely pretty high, and if you calculate the amount of time you're putting into this project that you think is free, think again! Plus, taking your time away from other tasks? Your time is valuable, and time IS money! Not to mention, when we consider the amount of revenue you could be leaving on the table without the proper strategy and content, that all adds up. Instead, think about the potential ROI of a social media manager, and how this can impact your business in big ways.
Start Small if Needed
It's important to remember that there are a lot of options out there for every budget. Social media freelancers and agencies often have different package options or retainer models that can fit to different investment levels. This doesn't mean that you should go with the cheapest services you can find, because after all, you get what you pay for. However, if you calculate a budget for your brand, you should be able to find options within this wheelhouse and find a sweet spot.
Hiring a social media manager can be a significant investment, but with proper budgeting and realistic expectations, it can drive substantial growth for your business.
Ready to make the investment with a social media team behind you? Let's chat!
