Who should handle social media?
Setting up social media pages may be free but it's a common misconception that a company or brand can achieve and maintain meaningful results at little or no cost. Facebook is currently valued at $350 billion with some analysts predicting that it could one day be worth $1 trillion. Instagram was sold for $1 billion whilst Snapchat has been valued at $25 billion. Valuations like this aren't based on a platform providing a free service.
Search 'Social Media Agency' in Google and the search engine will serve up over 140,000,000 results. An entire industry has developed to help businesses leverage social media.
Expertise
Using social media successfully, just like any professional undertaking, requires expertise. Typically, there are two options available. Outsource to an agency or use in house personnel. Of course, there are pros and cons to either solution.
In-house
If you opt for an in house social media team, you will need to budget for staffing, continual training, software, content development (graphics, photography, videography, editing, written copy, etc) and paid ads at a minimum. However, by going down this route, you will start to develop your team's knowledge in an area that is only going to become more business critical as time goes on.
Agency
If you decide to employ a social media marketing agency, you will need to budget for a monthly retainer that will vary depending on the scope of work and again, for paid ads. A specialist agency should bring experience to the table and give you an immediate head start. Training and staff costs are offset and, rather than employing a full-time team you will have access to their resources as and when you need them.
Don't forget!
Don't forget. You get what you pay for. Social media for businesses is a complex undertaking that requires commitment to make sure your brand is represented professionally. Don't expect to pay less for a dedicated, well-trained and well supported agency than you would pay for an individual staff member.
Either way, in house knowledge is vital. Without an understanding of who your brand should be talking to, how they should be engaging, what data can be generated and what can be done with it, social can become a resource and budget drain that generates lacklustre results.