With so much of consumption that you do on a daily basis, you might have heard and read about social media being free. Understandably, you have got valid reasons to treat social media as a zero cost entity. After all, you don’t need to pay a rupee to sign-up on new media tools like Twitter, Facebook, YouTube etc.
From a business’ view it is always necessary to understand the cost/budgetary implications of Social media. Here is how we break it up:
What is Free?
For majority of instances the basic costs of using the interaction channels is free.
- Sign-up cost on ‘Communication channels’ (Video – YouTube, Microblog – Twitter Blog – WordPress etc.)
- Pushing content on them (Uploading videos etc.)
- Engaging in real-time conversations
What isn’t Free?
- People – You need resources to execute a campaign. They have the skills, they have the experience and you need to pay them the salaries
- Time – Investment in terms of time & like people, time attributes to business cost. Every tweet that you do, every Facebook message that you write in company hours & using company’s infrastructure contributes to the business-cost.
- Training costs – Using an open-source conferencing solution to talk to your prospects might be free, but your employees need to be trained to use the tool which has a cost factor.
- Custom costs - Anything beyond the ‘basic’ requirements isn’t free and customization to satisfy specific needs requires funds.
- Others – The examples that we have are money ranging from writing a blog-post which requires (research skills/time, content planning & community engaging) to shooting a 5 minute video on youtube where you need to pre-plan, do editing and spend hours before getting stripping it down to a ’5′ minute clip.
They say that the best things in life do not come for free and this translates very well to social media usage for business purposes.
Iffort is an India based web strategy & social media consulting firm that plans, creates and executes a thorough roadmap to deliver tangible value for its clients and their stakeholders. For more information about our Strategic Social Media Marketing Services, please visit our services page.