How Much to Charge for Social Media Management
With more businesses moving online, there are a growing number of businesses that require assistance with their social media channels. It is difficult to maintain consistent content, interact with customers, and build a following on any social media platform. Whether you have an in-house team of digital marketers or not, it is beneficial to outsource any assistance
There is no official guidebook on how much to charge for social media management for those considering offering this service. Instead, consider what you’re offering and how much you believe is a fair price for that service.
We’ll look at how much you should charge for social media management in this guide.
Whether you’re looking to raise your current rates or you’re just getting started in this industry, it’s critical to charge what you and/or your team deserves.
What is Social Media Management?
Social media management is a role that necessitates an analysis of the company’s social media audiences as well as the development of a strategy that works for that specific client.
It encompasses all aspects of a company’s social media presence – or lack thereof – from regularly distributing new content to interacting with customers and potential leads.
Other responsibilities of social media management include collaborating with influencers, providing community support, and monitoring customer and community communications in general. Social media management will frequently report on social media performance and the ROI of the business’s investment.
The Rise of Social Media in 2022
With over 3.78 billion social media users worldwide, social media has certainly grown exponentially over the years. This is a figure that will only rise as more people establish a digital presence for themselves.
Of course, there are numerous advantages to using social media, the most important of which is increased business exposure. Everyone has an equal opportunity to gain an online following, regardless of industry or business size.
For businesses, there are numerous opportunities that can be realised with the right guidance and assistance when managing social media platforms. More than ever before, consumers are doing their shopping online. With 43 percent of consumers increasing their use of social media to discover new products, businesses can benefit from getting their products or services out there.
How Much Should Social Media Management Cost?
Before answering this question, consider what factors may influence the amount you charge. From the scope of work requested by the client to the additional resources and internal costs that your company will have to bear. Here are a few things to think about when calculating your rates.
Management of social media experience
For social media clients, they will look for previous experience by browsing social media management sites and individuals. Because everyone has to start somewhere, you may need to charge lower rates if you have no professional experience managing social media platforms.
When pitching to clients, any relevant experience in social media management, even if it’s your own personal platforms, is useful to include. When it comes to your experience, it’s critical to show examples of your content creation, previous social media strategies, and how this has positively impacted your previous clients.
A social media manager’s years of experience do not guarantee that they are the best fit for the job. Before communicating your abilities to a prospective client, take stock of what you have and have provided in the past.
Upwork is a freelancer platform that can help you figure out how much you should be charging. Social media managers charge between $14 and $35 per hour, according to Upwork.You work with various business types.
It’s critical to think about the types of businesses you’ll be working with as a social media manager. The larger the company, the more assistance you’ll likely require, and you may be required to hire a team to assist, or perhaps you already have a company with existing team members?
How big is the company?
Larger companies will most likely spend more money on marketing, whereas smaller companies may be limited in what they can offer. As a result, they may have the same pric esin terms of how much they can pay you. It is possible that you will need to adjust your prices based on the funds available in the business.
Before you start pricing a social media management project, you should learn everything you can about a potential client. While this information should not be used as the sole basis for pricing, it is useful to know when writing winning proposals and closing new business.
The industry in which they work
It’s also important to consider the industry in which the company operates, especially since this can have an impact on the marketing budget. This is an area where it may be worthwhile to conduct some research to determine the best rates.
The extent of the work required
What does the client require in terms of scope of work? As a social media manager, you may charge more for certain duties and not offer others as part of your services. As a social media manager, you may be more knowledgeable about specific platforms and thus offer a more specialised set of services.
What work can have an impact on the pay rates you charge? Here are some common, key
services that can help you and the client establish a scope of work that works for both of
Paid vs. organic social media
All marketing strategies should ideally include a mix of paid and organic social content. One cannot coexist effectively without the other, so it is important to understand what types of content you are providing. It could just be paid socials while the brand focuses on the organic social side.
It’s possible that your client is unfamiliar with both and requires assistance with both. It could be something you can do both of or something you can only do one of. Learning both is beneficial for pricing your services.
A combination of both is essential, from product launch email marketing (which you can learn more about with Flodesk) to guest blogging for backlinks and improving the client’s website domain.
The variety of platforms
Nowadays, there are so many social media platforms that it can be difficult for social media managers, let alone businesses, to keep up.
How many social media platforms do businesses have, and how many do they require management of? From Facebook to YouTube, Twitter to Instagram, Snapchat, and Tiktok, you should think about how much work is required for each platform and price it accordingly.
Depending on the tasks at hand, some platforms may necessitate more effort and time on your part.
Creation of content
When it comes to the content creation aspect of the job, there are many social media managers who will offer a variety of services. There are endless skills and knowledge you
can deliver to the business and charge more for as a result, from blogging and graphics design to copywriting, depending on your skills.
You may want to take a tailored approach in which you research the company’s content creation needs and make recommendations on what would be most beneficial to offer. The brand may also have its own requests. Be adaptable!
Influencer marketing to increase Tiktok followers influencer marketing is huge right now, with the industry expected to be worth $16.4 billion
With this line of work, there may be a lot of research required to find the right people who can provide the right audience to the client in question and hopefully convert leads to customers. It’s still a relatively new area of marketing, and many people make mistakes, so it’s worthwhile to become an expert in this area of social media management!
Influencer marketing can be used in a variety of ways. It’s a worthwhile form of marketing to use, whether the client is figuring out how to get followers on Tiktok or increase subscribers on YouTube.
How much of your work will involve interacting with customers? You may wish to include this as part of your services, or the client may choose to outsource it to another company or
What will the internal costs be?
As a social media manager or management company, you may incur a number of internal costs. From employee expenses to hiring anyone else outside of your company, it all adds up quickly.
Consider the tools and software you may need to purchase, the hours you will need to work,and the value of your services in relation to the gains that the client will receive. When determining a fee, consider overheads such as office space, photo studios, and so on.
What are my options for charging clients?
What options do you have for charging customers? Here are some approaches to charging clients that you can take:
● Hourly pay
● Fixed monthly fees
● A reservist
● On a project-by-project basis
As a social media manager, you will charge in a variety of ways. You can use a combination of the above to provide the best services while also getting paid on time.