The true cost of social media. Do you realise how much social media actually costs to do and do well?
To be able to work out the true cost of social media you need to consider the following:
- What is your time worth? Do you have an hourly or daily rate?
- How much time do you (or should you) spend planning, updating and monitoring your social media accounts?
- What do you achieve during the time spent? Your ROI or ROE?
- What would you like to be achieving during that time?
- Could this valuable time be spent using your specific skills to grow your business?
The truth is, access to social media networks such as Twitter, Facebook and Pinterest is free. However, the value that you put on your time, a lead or potential customer means that social media does have a value.
The saying ‘time is money’ applies directly to social media.
Each minute or hour you spend thinking of witty ideas, setting up competitions, making graphics and taking part in networking sessions online has a cost. A cost that it is valuable to invest in, if done with a goal, a plan and regular measurement.
Let’s face facts, we can’t be good at everything. We all have strengths and weaknesses if you are spending lots of time on social media but your efforts are not meeting your objectives (have you actually ever set any?) maybe it’s time to look for support.
So, how much is your social media ‘costing’ you. Let’s find out.
Put in the hours you spend per week and your hourly rate into our ‘social media cost calculator’ and we bet you’ll be surprised, especially if you do not spend any time planning or evaluating.
Are you shocked? For a more affordable way to run your social media campaigns, why not get in touch with our specialist team that can support you and your business, to get value out of your online efforts.