One thing we’re asked about often here at 99social is how we can afford to offer social media management for such a low monthly fee.
Our £99 per month social media plan is a popular choice for small business owners who don’t have the time or the skills to maintain their own accounts, but competitors offering a similar service regularly charge hundreds more.
Today, we’re taking a look into how low-cost social media companies can offer their services for such a low fee, and quash the common misconception that a cheap price tag means a low-quality service.
Easy to sell
The most obvious benefit of a social media marketing agency offering their services for less than a hundred pounds a month is that cheaper marketing services are easy to sell.
As we’ve discussed many times here at 99social, some marketing agencies in the United Kingdom charge upwards of £1,000 per month for a basic social media package, so when businesses stumble upon a service that’s just as good at a fraction of the cost, they’ll no doubt want to find out more.
And that unique selling point and low entry price can encourage people who would usually be a little more conservative about investing in marketing to give it a go.
Volume of clients
Where some marketing agencies can get away with managing only a couple of client accounts at a time, the low-cost nature of a £99 per month social media package requires volume.
For a company like 99social to generate the same revenue as a larger agency might make from a single client, they need to find ten clients and keep them satisfied month after month.
There’s no denying it’s hard work, but offering services in bulk to a wide market ensures sustainability.
Partnering with other marketing agencies is one of the ways to ensure the volume of customers.
An affiliate marketing or reseller scheme means that other companies can resell £99 per month plans to their clients at an inflated rate, and generate their own income as a result.
The truth is that social media management isn’t rocket science.
Of course, if you want to connect to the right audience and keep followers engaged and ready to buy can be challenging, but the basics of coming up with relevant content and scheduling posts isn’t hard work; it’s the time it takes to maintain a social media presence that puts so many small businesses off.
Agencies offering low-cost social media management adopt time-saving exercises, like scheduling a week’s content in advance so that there’s always a steady flow of new material, and using templates to design graphics and banners, customising to suit company branding.
The biggest time-saving exercise is social media tools. Scheduling tools allow agencies to post content even when they’re not around, and brand monitoring tools alert agencies to new replies from followers to allow them to deliver customer service, without checking an account every day.
Knowledge of their niche
Social media managers, like the ones here at 99social, have years of experience in research, content production and customer service, and can quickly adapt their styles to suit different audiences and brands.
Being able to switch from working on a humorous joke shop client account to a solicitor account in a couple of minutes is a skill, and one takes time to learn.
There are many benefits to subscription-model businesses, and one of the biggest is that it offers predictable monthly revenue.
At 99social, we offer a 30-day rolling contract, meaning clients are free to leave at any time, but the vast majority choose to stay on and enjoy their monthly low-cost service.
Another benefit to subscription businesses is relationships; over several months, social media managers can get to know their clients on a deep level and offer a more personal service that’s tailored to their business needs.
And the longer a social manager has control of an account, the more they’ll be familiar with the brand’s ethos, values and even get to know customers.
There are some downsides to such a business model, though: for example, there is increasing competition from have-a-go marketers who want a slice of the action, and a no-quibble exit policy means customers don’t always renew, causing fluctuations in revenue from month to month.
Low running costs
Other than staffing and paying for social media scheduling tools, social media as a service is a relatively low-cost state of affairs.
Unlike some businesses, which require thousands of pounds for marketing and continuous product development, the act of offering social media for £99 per month is simple, no-nonsense and allows running costs to remain relatively low.
And because training can be done on-the-job, there’s no need for weeks of inductions or expensive teachers.
Digital businesses have a benefit over traditional bricks-and-mortar businesses because they can operate from anywhere in the world, and there’s no need for rent, water, electricity or premises insurance.
These costs can quickly add up and make a product like £99 social media management seem impossible; thanks to the digital-only nature, costs per head are much lower.
At 99social, we offer affordable social media management from as little as £99 per month. If you’d like to find out more or you’re ready to get started, get in touch with the team today.