In today's market it is practically impossible for a company to operate without being present on social media. Despite this, many business owners and marketing teams don't have the experience or resources to strategically manage their social media presence. More and more companies entrust the management of their social networks to freelancers, consultants or agencies.
This shift in activity correlates with the growth of the entire “sharing economy,” and a study conducted in 2023 by the National Bureau of Economic Research shows that approximately 15% of all U.S. the workers are self-employed. employee - independent collaborators.
As an employee As companies move away from traditional employees and increase budgets for social media marketing, there are many opportunities for people to market their social media, design, writing and strategy skills into a job or company . One of the most critical questions a freelancer or consultant will ask: How much should I charge for social media management?
As with most critical questions in business, there is no clear right or wrong answer. In fact, pay for social media managers varies greatly and depends on several factors, including the scope of work, level of experience, type of company, industry, and location. div>
Also, independent social media management consultants should pay attention to your competitors, the market value of your work, the effort required to complete a project, and the type of results the client can expect.
To help you determine the right price for your social media management business, here is a list of questions you should ask as a consultant , freelancer or social media agency . Remember to fully evaluate the factors listed below to inform and define your pricing strategy.
What is your experience in social media management?
Social media prospects want to know what your relevant work experience is, what results you've achieved for previous clients, and what areas of expertise you contribute to their activities (e.g. content creation). , social media strategy, account growth, advertising on social platforms, etc.). Your ability to convey to customers the value your expertise brings is often the difference between winning or losing a new account. So take the time to explain and promote your skills.
Although work experience is not the only way to determine experience, it can be helpful to compare your work experience with that of others . As social media managers gain experience, they can charge significantly higher fees to their customers.
According to online recruiting platform Zippia, the average salary for a social media manager in the United States is $70,287, which equates to an hourly rate of $33.79.
What do you know about the market you operate in?
The rates for social media management averages also vary by location. Rates are generally higher in areas where the cost of living is higher than average. Competition in your industry also plays an important role in determining your freelance rates.
Are there multiple social media management companies in your city? How much does it cost? While it may be difficult to know your competitors' prices, still take the time to perform a competitive analysis to ensure you are ready to attract a new customer. While you can't determine your competitors' prices, you can find out what they offer and how they bundle their services.
What type of company do you work with?
Before you start evaluating a social media management project, it's important to learn everything you can about a client's potential. While this information shouldn't be the only factor in determining pricing, it's helpful to know when to write winning proposals and close new deals.
Size of the company. The larger the company, the more it can spend on marketing. However, most companies only spend a certain percentage of sales on their marketing budget. A study by Zippia shows that most small businesses should spend between 7 and 8% of their gross sales on marketing and advertising, although some companies spend up to 40%.
Industry. Factors such as competition, pricing, and growth plans vary by industry. The restaurant sector, for example, is notoriously competitive: 47% of operators expect more competition in 2023 than last year, but profit margins are small. This income leaves less budget for marketing expenses. Priced accordingly.
Most comes from social media managers adjust their rates for each individual client and project. While this may seem strange to some, remember that no two jobs are the same and tailoring your quote to the client's needs and specifications is a smart way to get business. Use your best judgment when presenting prices, but do your research first.
What is the client's scope of work?
The level of support your client needs for social media management is important in determining how much you should charge for your services. Some clients need limited support, while others need 24/7 community management and creative planning, not to mention post-production. Before sending a proposal, make sure you are clear about your prospect's social media goals and what they want to see on their social media channels. Below are some services to consider and variables that can help determine the scope of the work.
1. Number of platforms
How many social media platforms does the client want you to manage? Is it just your Instagram account or do you have Facebook, Twitter, Snapchat, Pinterest, LinkedIn, Yelp and YouTube? The more social platforms a client has, the more you want to charge to manage their social media. Also determine whether your client has already launched platforms or needs to create and expand a new social platform from scratch. Creating a new social media account without followers can take much longer than taking over an existing account.
2. Paid or organic
Paid social media is becoming an increasingly important part of your overall marketing budget. Make sure you know where your social media advertising efforts begin and end, as this requires a unique set of skills. If you're not familiar with optimizing paid social media campaigns, you may need to learn it or outsource it to another freelancer or member of your team.
3. Content creation
Many social media managers and consultants also offer blogging, writing, or graphic design services. If your client expects you to create blog posts, charts, graphs, or memes and then publish them, you may want to charge more. Alternatively, you may need to do some research to find good content for branded platforms and social media content strategy is time consuming. Some companies may already have all their content created by employees or other freelancers and ready to go, but do your research first, estimate the time it will take, and be clear about your content creation results and marketing strategy when establishing the price of your content. to contract. : Make some things optional: It's always a good idea to offer the customer flexibility in using your services.
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In today's market it is practically impossible for a company to operate without being present on social media. Despite this, many business owners and marketing teams don't have the experience or resources to strategically manage their social media presence. More and more companies entrust the management of their social networks to freelancers, consultants or agencies.
This shift in activity correlates with the growth of the entire “sharing economy,” and a study conducted in 2023 by the National Bureau of Economic Research shows that approximately 15% of all U.S. the workers are self-employed. employee - independent collaborators.
As an employee As companies move away from traditional employees and increase budgets for social media marketing, there are many opportunities for people to market their social media, design, writing and strategy skills into a job or company . One of the most critical questions a freelancer or consultant will ask: How much should I charge for social media management?
As with most critical questions in business, there is no clear right or wrong answer. In fact, pay for social media managers varies greatly and depends on several factors, including the scope of work, level of experience, type of company, industry, and location. div>
Also, independent social media management consultants should pay attention to your competitors, the market value of your work, the effort required to complete a project, and the type of results the client can expect.
To help you determine the right price for your social media management business, here is a list of questions you should ask as a consultant , freelancer or social media agency . Remember to fully evaluate the factors listed below to inform and define your pricing strategy.
What is your experience in social media management?
Social media prospects want to know what your relevant work experience is, what results you've achieved for previous clients, and what areas of expertise you contribute to their activities (e.g. content creation). , social media strategy, account growth, advertising on social platforms, etc.). Your ability to convey to customers the value your expertise brings is often the difference between winning or losing a new account. So take the time to explain and promote your skills.
Although work experience is not the only way to determine experience, it can be helpful to compare your work experience with that of others . As social media managers gain experience, they can charge significantly higher fees to their customers.
According to online recruiting platform Zippia, the average salary for a social media manager in the United States is $70,287, which equates to an hourly rate of $33.79.
What do you know about the market you operate in?
The rates for social media management averages also vary by location. Rates are generally higher in areas where the cost of living is higher than average. Competition in your industry also plays an important role in determining your freelance rates.
Are there multiple social media management companies in your city? How much does it cost? While it may be difficult to know your competitors' prices, still take the time to perform a competitive analysis to ensure you are ready to attract a new customer. While you can't determine your competitors' prices, you can find out what they offer and how they bundle their services.
What type of company do you work with?
Before you start evaluating a social media management project, it's important to learn everything you can about a client's potential. While this information shouldn't be the only factor in determining pricing, it's helpful to know when to write winning proposals and close new deals.
Size of the company. The larger the company, the more it can spend on marketing. However, most companies only spend a certain percentage of sales on their marketing budget. A study by Zippia shows that most small businesses should spend between 7 and 8% of their gross sales on marketing and advertising, although some companies spend up to 40%.
Industry. Factors such as competition, pricing, and growth plans vary by industry. The restaurant sector, for example, is notoriously competitive: 47% of operators expect more competition in 2023 than last year, but profit margins are small. This income leaves less budget for marketing expenses. Priced accordingly.
Most comes from social media managers adjust their rates for each individual client and project. While this may seem strange to some, remember that no two jobs are the same and tailoring your quote to the client's needs and specifications is a smart way to get business. Use your best judgment when presenting prices, but do your research first.
What is the client's scope of work?
The level of support your client needs for social media management is important in determining how much you should charge for your services. Some clients need limited support, while others need 24/7 community management and creative planning, not to mention post-production. Before sending a proposal, make sure you are clear about your prospect's social media goals and what they want to see on their social media channels. Below are some services to consider and variables that can help determine the scope of the work.
1. Number of platforms
How many social media platforms does the client want you to manage? Is it just your Instagram account or do you have Facebook, Twitter, Snapchat, Pinterest, LinkedIn, Yelp and YouTube? The more social platforms a client has, the more you want to charge to manage their social media. Also determine whether your client has already launched platforms or needs to create and expand a new social platform from scratch. Creating a new social media account without followers can take much longer than taking over an existing account.
2. Paid or organic
Paid social media is becoming an increasingly important part of your overall marketing budget. Make sure you know where your social media advertising efforts begin and end, as this requires a unique set of skills. If you're not familiar with optimizing paid social media campaigns, you may need to learn it or outsource it to another freelancer or member of your team.
3. Content creation
Many social media managers and consultants also offer blogging, writing, or graphic design services. If your client expects you to create blog posts, charts, graphs, or memes and then publish them, you may want to charge more. Alternatively, you may need to do some research to find good content for branded platforms and social media content strategy is time consuming. Some companies may already have all their content created by employees or other freelancers and ready to go, but do your research first, estimate the time it will take, and be clear about your content creation results and marketing strategy when establishing the price of your content. to contract. : Make some things optional: It's always a good idea to offer the customer flexibility in using your services.
You May Also Like: What are the best prompts for social media strategy for ChatGPT?