Setting up social media accounts alone does not guarantee a return on investment. A successful social media campaign requires advertising and ongoing management. The true costs of a campaign include staff time, outsourcing fees if applicable, and tools for tracking and analytics. Benefits can include increased brand awareness, customer engagement, and sales. Studies show social media fans on average spend more than non-fans. An account with 33,000 Twitter followers was estimated to be worth over $63,000. While basic tools are free, more advanced features require costs, so campaigns need adequate funding to expand if successful. An analysis of costs versus potential benefits is needed before starting a social media initiative.

1. ARE THE BENEFITS WORTH THE COSTS OF A SOCIAL MEDIA CAMPAIGN? a quick comparison between costs and benefits

2. WHAT IS THE TRUE COSTS OF A SOCIAL MEDIA CAMPAIGN? Cost of a dedicated social media campaign manager or the amount of time that other employees will spend on the campaign or maintaining the social media site or answering customer enquiries and maintain a spam-free zone for your clients and customers If your campaign is not in-house, do you outsource all parts of your social media campaign? If that is the case then you will need to figure out the breakdown in billing, and how you will be charged Unfortunately the biggest myth in social media is: “if you build it they will come” . Merely setting up a Facebook page or a Twitter account will not guarantee ROI. Advertising needs to be added to the mix. This can include targeted adds on Facebook, adding follow buttons on your company website, or email advertisement While many basic tools for social media are free, more in-depth tools, such as tracking, require some escalated cost. Any other technical and creative cost may have also to be assumed. What if your social media is highly successful? Do you have enough cash flow to allow it to expand? WILL DEPEND ON WHAT IS DECIDED FOR THE PREVIOUS VARIABLES! Source: http://www.digitalbuzzblog.com/infographic-cost-of-social-media/

3. WHAT ARE THE REAL BENEFITS OF A SOCIAL MEDIA CAMPAIGN? According to what marketing executives participating to a survey felt the main benefits of a social media campaign were Source: http://www.digitalbuzzblog.com/infographic-cost-of-social-media/

4. 20 brands were analyzed, below are the results for some of the most popular of them Avg. amount spent by a Facebook fan Avg. amount spent by a non Facebook fan On average, fans spend an additional $71.84 on products for which they are fans of Source: http://www.digitalbuzzblog.com/infographic-cost-of-social-media/

5. Source: http://www.digitalbuzzblog.com/infographic-cost-of-social-media/

6. Below is an estimated value of a Twitter account with 33,000 followers Source: http://www.digitalbuzzblog.com/infographic-cost-of-social-media/

7. Source: http://www.digitalbuzzblog.com/infographic-cost-of-social-media/