Learn about actual and potential costs
How much should I pay for Social Media Management Services?
What is the average price of Social Media Management Services?
This procurement report includes pricing information to help you purchase Social Media Management Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Social Media Management Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Social Media Management Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Social Media Management Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Social Media Management Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
This market is moderately concentrated, with the top four suppliers of social media management services generating roughly 45.0% of total market revenue. The market's top suppliers are Publicis Groupe, WPP, Interpublic Group of Companies (IPG) and Omnicom Group, all of which are large multinational corporations that provide a multitude of... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Do you provide rapid response when my brand becomes increasingly relevant in public discourse due to popular culture references or for any other reason?
What is the availability of key personnel assigned to my project? Can I contact you 24/7, or only during business hours?
How often do you expect us to engage in phone calls? What will be the frequency of your reporting on progress?
How do you address client concerns or complaints?
How do you plan to help us convert followers and likers into customers?
How do you plan to help us increase our reach to further penetrate our core demographic and also expand our appeal?
What unique characteristics of our products and services do you believe can be leveraged in a social campaign?
Will you be willing to assist with publicity on other online platforms to help us achieve our goals? Which other platforms?
How is your firm staying up to date on the latest terminology and best practices for social media posts covering the coronavirus outbreak?
What type of discount can I receive for committing to using your service for an extended period of time?
This is a highly competitive market; are you willing to match the best offer we receive?
Could we include an additional social network to be serviced in this pricing package?
Do you provide any incentives to sign an agreement sooner rather than later? What are these incentives?
What deals, if any, are available to clients that may be experiencing financial hardship during the pandemic and thus have fewer resources to spend on marketing?
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Key elements for every RFP
What should my RFP include?
Buyers should state their total budget for the project.
Buyers should request a detailed breakdown of prices for different levels of service and service offerings.
Buyers should inquire into any additional charges or fees that they may incur during the course of the contract.
Buyers should prioritize suppliers that have experience with similar accounts and are able to guarantee a high level of service.
Buyers should seek vendors that have a history of increasing user engagement and brand awareness.
Buyers should weigh the pricing options offered by the vendor.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should state the deadline for questions and proposal submissions.
Buyers should indicate the date when award information will be made available.
Buyers should indicate their preferred start date for services.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for social media management services poses a moderate level of risk, which dampens buyer power. The services in this market cannot be performed without social media platforms, such as Facebook, Twitter, Pinterest and Instagram. Although these platforms are well established and growing in popularity, consolidation is driving... Subscribe to learn more.