Costs and benefits of a social media campaign

Costs and benefits of a social media campaign

On the crest of the wave and become the new philosopher’s stone of online marketing, social networks are presented, today, as the true panacea to consolidate or expand the branding of a brand, but what is the real cost of the investment? on social media? That is the question that the Anglo site answers Focus.Com in a complete infographic that we review in this article, and that takes as a reference the values ‚Äč‚Äčof the American market.

How much does a social media campaign cost?

Obviously, the cost of an online marketing campaign based on social networks will not have a unique value, since as with other platforms, this will depend on its scope and size, but if we can take into account some factors for its assessment, such as the personnel required in case of developing it internally or hiring external services. Another factor that will have an important impact when it comes to financing a campaign on social networks is, of course, advertising; There are many brands and companies that decide to implement an online marketing campaign using social networks, attracted by the fact that these are free, but we must not forget that, like any other action on the Internet, it is not enough to set up a corporate portal , sales, a profile on Facebook or an account on Twitter and sit and wait for users. It is necessary to allocate a chapter of the budget for promotional actions.Another factor that affects the cost of the campaign is the resources necessary to implement it, since although free applications and tools abound, it is often necessary when implementing monitoring and application development solutions that could significantly increase the budget. initial, especially if the campaign is successful.As, taking into account these games, Danny Brown, CEO of Bonsai Interactive; A company dedicated to marketing in social and mobile media has estimated the average cost of a campaign annually to be about 210,600 US dollars; about 150,000 euros at the current exchange rate and which are divided into the following items:

Social Media Strategist: 10 hours per week at $ 100 per hour: $ 52,000 Community Manager: 30 hours per week at $ 60 per hour: $ 93,600 Creation of corporate mini site: $ 15,000, if no existing platform Creation of mobile applications: $ 20,000 Mobile-friendly mini site creation: $ 30,000

Benefits and return on investment is not the same

Well, those are the costs, quite a considerable number indeed. Now let’s talk about the benefits of implementing a campaign on social networks in terms not only of return on investment, since an action of this profile basically aims to establish another type of relationship with consumers, according to a survey carried out by eMarketers to Senior Marketing Executives in the United States

Loyalty: 85.4% Direct communication with customers: 65% Quick response: 59.9% Know customer preferences: 59.1% Low Comparative Cost: 51/1% Brand building: 48.2% Market research: 42.3% Reputation: 40.1% Create opinion and leadership in your niche: 21.2% Customer service: 17.5%

The value of a fan on Facebook

Thus and from these concepts, the infographic intersects the previous data with the value of fans on Facebook, based on a survey conducted by Syncapse, in which 20 major brands were evaluated to determine the economic potential of their fans and what it delivers. interesting results when comparing the potential economic value of a normal consumer and that of one who is a fan on Facebook: For McDonalds, an average customer who follows him on Facebook has a consumption curve of $ 310 on average, versus $ 150.39 on average. The same happens for Coca-Cola whose average consumption by its fans is put in 190.48 dollars, versus 120.98 of the non-fans The same situation is repeated in all the big brands like Starbucks, Motorola, Victorias Secret , Playstation, Xbox or Nike, among others, with large differences in average spending between consumers who follow them on Facebook and those who do not, giving a solid argument in favor of campaigns on Social Media as a promotional complement. On the other hand, consumers who follow their brands on Facebook are more loyal, with 28% more of them willing to remain linked as consumers than those who are not fans on Facebook. The same is true in terms of evangelism, with 41% more fans willing to recommend their favorite brands. Overall, brand fans on Facebook spent an average of $ 71.84 more on their favorite products and services than on Facebook. consumers who do not participate or do not follow them on the social network.

The value of a follower on Twitter

Twitter, the microblogging social network, is also very important as a marketing and promotion platform for brands, with an ROI of 43%, for an account of 33,000 followers, with a global monthly investment of $ 2,382 and a monthly return of 1,667 dollars; that is, a follower on Twitter is worth 2.38 dollars and has a monthly cost of 1.67 dollars.There are also cases of success such as the DELL online store, the computer brand that planned a sales strategy based on the expansion of the brand. via Twitter, with direct sales of $ 3 million when launching the campaign and an estimated time reach of $ 1 million from Twitter followers after 6 months. But, especially on social media, a successful campaign is one that manages to create a pole of attraction for new consumers, as is the case of the Old Spice brand, which was able to combine the hook of an advertising campaign in which an advertisement that received great media attention and was reflected in an exponential increase in their numbers: A 2,700% increase in their followers on Twitter; 800% increase in Facebook fans and 300% increase in traffic on their portal – that’s a successful campaign