There are different services under digital marketing that are designed to deliver results that will aid in the growth of a business, but there’s one that particularly stands out, and that’s social media marketing. In the Philippines, social media is a part of the daily lives of many citizens of different demographics. Despite difficulties in providing stable internet connectivity in some parts of the country, it wasn’t a hindrance for Filipinos to indulge in social media. Statistics also show that in 2021, there were already 89 million active social media users in the Philippines, making up 80.7% of the total population with 4 hours and 15 minutes out of the 11 hours of internet usage spent on social media.
The growing popularity of social media in the country has made social media marketing even more in demand for many businesses who seek opportunities to grow their brand online. When done right, social media marketing can help businesses increase their brand awareness, audience engagement, web traffic, and more. Hence, the reason why it’s also important for businesses in the Philippines to incorporate this marketing approach into their marketing mix.
On top of the other benefits that you can get from social media marketing is its cost-effectiveness. With MSMEs (micro, small, and medium enterprises) making up 99.51% of all businesses in the country, it’s vital to spend for the right marketing that will be worth the investment, time, and budget. Unlike most misconceptions about social media marketing, it’s not for free and it’s also not just about posting and earning likes and followers to get sales for your business. It’s absolutely more than that.
If you’re thinking about getting started with the social media marketing of your business, then it’s important to know its cost and other possible factors or services that come with it. This way, it will help you properly set aside a fitting budget.
Social Media Marketing Rates in the Philippines
|Low to Mid Rates for Social Media Marketing Service Per Month||₱25,000 – ₱75,000 / mo. ($485 – $1,500 / mo.)|
|High Rates for Social Media Marketing Service Per Month||₱100,000 – ₱250,000 / mo. ($1,900 – $4800 / mo.)|
The Scope of Your Social Media Marketing Campaign
No two businesses have exactly the same marketing campaign as it will all depend on their goals and objectives, the audience that they want to reach, and how they want their brand to be known and perceived by their target audience. That’s why when it comes to your social media marketing campaign, expect that the cost will vary depending on the scope. The scope usually includes paid ads, engagement, content creation, and analytics.
And from that, you’ll need to take into account the following:
- What types of content need to be created and how much is needed? Will you be needing blog posts, images, videos? If yes, do you need help with graphic design, content writing, or video editing?
- How many social media platforms does your business have to be in to increase engagement and brand awareness?
- What paid ads will you incorporate into your social media marketing campaign?
This also shows that the wider the scope of your campaign, the higher the cost that comes with it. So it’s essential to keep in mind your budget and how you want to utilize them to improve your business’s online presence and brand awareness on social media. It will also be advisable to get digital consulting as it will help you better understand what will come with your social media marketing campaign. These experts will guide you and help properly utilize your budget to create effective marketing strategies that will bring results to your business. This way, you can avoid spending insignificantly on marketing that won’t work for your business.
Software and Tools
When setting aside a budget for your social media marketing, you can also expect that costs for the software and tools used will be included in the total. These software and tools help ease the task of creating and managing your social media marketing campaigns. Here are some of them:
- Social media management tools
- Social media analytics tools
- Social media video tools
- Social media design tools
Paid Social Media Ads
Paid social media is a technique used to display ads or sponsored marketing messages on mainstream social media platforms that help target the right audience. Although, take note that each social media platform differs from one another in terms of how their paid ads work and their demographics. So you should also consider which platform you’ll be incorporating paid ads into. These paid social media ads are also handy for increasing traffic and brand awareness to businesses. Different social media platforms such as Facebook, Twitter, Instagram, and LinkedIn utilize paid advertising. But if you decide to start a PPC (pay per click) campaign for your business, you can also make use of Google Ads.
Now when it comes to the cost of your paid ads, it will vary depending on the CPC (cost per click), CPV (cost per view), CPA (cost per action), and CPM (cost per impression) of your chosen social media platform, as well as the ad tools that will be used. For example, a Facebook ad cost is typically based on the CPC (cost per click) and CPM (cost per impression) of a post. In the Philippines, you can do Facebook ads for as low as P23.90 – P95.62 ($0.46 – $1.86) per click. Compared to Instagram and LinkedIn, the average CPC on Facebook is relatively low-priced. Although, keep in mind that this is just an estimate and final costs will still vary depending on the industry your business is in. Another thing to consider is the duration of your ad display as this will add to the cost.
The good thing about paid social media ads is that you can decide on the budget. But of course, the bigger the budget, the more audiences you can reach with your marketing campaign as it will involve advanced targeting. Contrary to what you may be thinking, it’s not as expensive or costly as traditional advertising. So if you’re having second thoughts about getting paid social media advertising for your business – don’t.
Content doesn’t always consist of just the usual text itself. It can be a lot of things. And it’s important to consider that aside from your ad spend, content is a crucial part of your social media marketing because this is how you’ll be able to drive the right audience to your brand, which is why many businesses also spend more than half of their social media marketing budget on content creation. Being able to produce content that’s effective and incurs high performance is not easy, and requires adequate time, planning, and strategizing. This now sheds light on why it’s a valuable factor that shouldn’t be overlooked when setting aside a budget for your social media marketing campaign.
Take note that there are different types of social media content that can be created and here are some of them:
- Blogs, articles, guides, and more
- Images, videos
- Video Stories, Live videos
Other factors that also contribute to the cost of the content creation in your social media marketing campaign are the:
- Graphic design
- Video production
- Production cost – location rentals, props
- Editing and copywriting
- Photography and images
Social Media Management and Strategy Creation
The planning and creation of your social media management and strategy are crucial because the more precise it is, the more it will be effective, bringing good results to your business. But if it’s not carefully thought out, you can end up spending insignificant amounts of money without getting a good return on investment. The cost of your social media management and strategy creation will differ depending on the scope as well as other needs that your business may have.