It's common to see a wide price range for social media management services. From our observations, agencies often bill anywhere from $1,000 to $10,000 each month. The final cost really hinges on what's included. For example, if a business just wants basic upkeep on one social media site, with simple posts and minimal interaction, they might expect to pay somewhere between $1,000 and $3,000 per month.

• You might find agencies offering basic Instagram management for a few hundred dollars a month.

• For more comprehensive services, it could easily run into several thousand dollars.

• The costs of Instagram add campaigns themselves, are also very variable.

In digital marketing, CPM stands for "cost per mille," where "mille" is Latin for "thousand." 1 It's a pricing model where advertisers pay a set amount for every 1,000 impressions their ad receives. 2 Essentially, it's the cost of 1,000 ad views. 3

Social Media Manager daily rates exclude GST and represent the total after tax cost to businesses. The average rate of $529 per day covers up to 7.6 hours of consulting work and includes the consultant's expertise, time, and standard deliverables.