As more and more companies move to the online domain, there are many companies that need help with their social media channels. Maintaining regular content, interacting with customers, and creating follow-ups on any social media platform is difficult. Whether you have an internal team of digital marketing experts or not, it’s helpful to entrust any help you need.
For those looking to offer social media management, there is no official guide on how much you should charge for this service. Instead, you should think about what you offer and how much you think is the right value for that service.
In this guide, we will look at how much you should charge for social media management. Whether you want to adjust your current rates or are just starting out on this career path, it is important to charge the right amount you and / or your team deserve.
What is social media management?
Social media management is a role that requires analyzing the company’s social media audience and developing a strategy that works for that individual client. From regular distribution of fresh content to interaction with customers and potential customers, it covers all aspects of the company’s presence on social networks – or lack of one.
Other responsibilities within social media management include working with influential people, providing support to the community, and monitoring client and community communication in general. Social media management will often report on the performance of social media and the ROI spent.
The rise of social media in 2022
Social media has certainly grown exponentially over the years, with over 3.78 billion social media users exist around the world. This is a number that will only grow as more and more individuals create a digital presence.
There are, of course, many benefits to social media, and the main one is exposure to work. Regardless of the industry or the size of the business itself, everyone has an equal opportunity to gain followers online.
There is a lot of potential for companies that can be realized with the right guidance and assistance in managing social media platforms. Consumers are buying more online than ever before. With 43% of consumers by increasing their use of social media to discover new products, it pays for companies to place their products or services there.
How much should you charge for social media management?
Before answering this question, it is important to consider what may affect the amount you charge. From the amount of work the client is looking for, to the additional resources and internal costs your business will have to pay. Here are a few things to keep in mind when it comes to adding up your rates.
Experience in managing social networks
For social media clients, they will search social media management websites and individuals, looking for previous experience. Everyone needs to start somewhere, so you may have to charge lower prices if you don’t already have experience in professionally managing social media platforms.
However, any relevant experience in social media management, even if it is your personal platforms, is useful to include when presenting to clients. When it comes to your experience, it is important to set examples your content creationwhat social media strategies you have used before and how it has positively impacted your previous clients.
Just because a social media manager has many years of experience, does not mean that he is the most suitable for that role. Be sure to check what skills you have and have provided in the past before communicating them with a potential client.
Upwork is a freelancer platform and is a useful starting point for understanding how much you should charge. According to Upwork, social media managers charge in between $ 14- $ 35 per hour.
The types of jobs you work with
It is important to consider what type of business you will be working with as a social media manager. The bigger the job, the more help you will probably need and you may need to hire a team to help you, or maybe you already have a job with existing team members?
How much is the job?
Larger companies are likely to have more marketing costs, while smaller companies may be limited in what they can offer. As a direct result, they may reflect the same prices in how much they are able to pay you. You may need to adjust your prices according to the available finances within the business.
Before you start evaluating a social media management project, it is important to learn everything you can about the potential client. While this information shouldn’t be the only factor in pricing, it’s helpful to know when you’re writing winning proposals and closing a new business.
The industry they are in
It is also important to consider the industry in which it operates, especially when it may further affect the budget available for marketing. This is an area that might be worth exploring to understand which rates are best.
Required scope of work
What does the client look for when it comes to workload? As a social media manager, there may be certain duties that you charge more for and others that you do not offer as part of your services. You may be better informed when it comes to certain platforms and therefore offer a range of services as a social media manager.
What business can affect the wage rates you charge? Here are some common, key services that can help establish a workload that suits you and your client.
Paid in relation to organic social networks
Ideally, there should be a mix of paid and organic social content in all marketing strategies. One cannot coexist effectively without the other and therefore it is worth understanding what types of content you provide. Maybe it’s just paid social networks, while the brand focuses on the organic social side itself.
It is possible that your client is not well versed in either, and that he needs help in both cases. It can be something you can do both or you can just do one or the other. It is worth learning both to increase the cost of your services.
From product launches through email marketing, you can Learn more in relation to Flodesk, for guest blogs for backlinks and domain enhancements of a client’s website, a combination of both is crucial.
Number of platforms
Today, there are so many social media platforms that it can be difficult for social media managers to follow them, let alone the companies themselves.
How many social media platforms do companies have and how much do they need to manage? From Facebook to YouTube, Twitter to Instagram, Snapchat and Tiktok, you may want to consider the amount of work required for each platform and determine the price accordingly.
Some platforms may require more effort and time on your part, depending on the tasks required.
There are many social media managers who will offer many different services when it comes to just the element of creating business content. From blogging and graphic design to writing texts, depending on your skills, there are endless skills and knowledge that you can deliver to your business and as a result charge more.
You may want to take a customized approach where you research a company’s needs when it comes to content creation and give suggestions of what would be most productive to offer. The brand itself can also have its own requirements. Be flexible!
Influencer marketing to gain followers on Tiktok
Influencer marketing is huge at the moment, and the industry is expected to reach huge $ 16.4 billion in 2022.
It may take a lot of research in this area of work to find the right individuals who will be able to provide the right audience to the client in question and hopefully turn potential customers into customers. This is still a whole new area of marketing and many may miss it, so it’s worth becoming an expert in this area of social media management!
There are many ways to use influencer marketing. Does the client understand how to get companions on Tiktok to increase the number of subscribers on YouTube, it is a valuable form of marketing.
Communication with customers
How much will your services involve communicating with clients? You may want to include this as part of your services or the client may leave it to another company or individual.
What will be the internal costs?
There are a number of internal costs you may have as a social media manager or management company. From the cost of hiring to hiring any other individual outside of your business, it all adds up quickly.
Consider the tools and software you may have to pay for, the hours you worked yourself, and the value of your services in relation to the profit the client will receive. Directing such as office space, photo studios, etc. are worth considering when determining compensation.
What options are available for customer billing?
What options do you have when it comes to customer billing? Here are some of the approaches you can use when charging customers:
- Hourly rate
- Monthly fixed fees
- On a project basis
The way you charge will vary as a social media manager. You can use a combination of the above to provide the best services and get paid on time.