Information technology'south practically impossible for a business to operate in today'southward market without a social media presence. Despite this fact, many business owners and marketing teams are missing the experience or resources to internally manage their social media presence in a strategic mode. More and more businesses are opting to outsource their social media management to freelancers, consultants, or agencies.

This shift in business correlates to the growth of the overall "gig economy." Co-ordinate to a new study from Deloitte, self-employment in the U.Southward. is expected to triple to 42 million people. As businesses shift abroad from traditional employees and budgets for social media marketing increase, there are plenty of opportunities for individuals to market their social media, design, copywriting and strategy skills into a job or business concern.

social media spending

Source: The CMO Survey

One of the nearly important questions that a freelancer or consultant volition ask themselves is: how much should I charge for social media management? And just like most important questions in concern, there is no clear cutting right or wrong answer. In fact, the rates that social media managers charge vary widely based on a number of factors. These factors include the scope of piece of work, feel level, business type, manufacture, and location. Additionally, freelance consultants who work in social media management must as well pay attention to their contest, the market place value for their work, the try required to complete a project, and the blazon of results the client can expect.

To aid you determine the correct pricing for your social media management business, here is a list of questions to ask yourself as a social media consultant, freelancer, or bureau. Go on in mind that the factors listed beneath should be evaluated holistically to inform and define your pricing strategy.

How much experience do you lot accept in social media management?

Prospective social media clients will want to know what relevant piece of work experience you have, what results yous have achieved for past clients, and what specialties you lot can bring to their business, such as content cosmos, social media strategy, business relationship growth, social platform advertising, etc.). Your ability to communicate the value that your experience carries to your clients will often mean the difference between winning and losing a new account, so accept the time to explain and market your abilities.

While years on the task isn't the only way of determining experience, it can be helpful to compare your length of work feel to others. Equally social media managers proceeds more than experience, they are able to charge their clients significantly higher fees.

charging clients for social media content management

Source: Upwork

According to the freelancer platform Upwork, the following are rates that other freelancers are charging clients for social media content management:

  • Entry Level (social media posting, virtual assistant duties): $15-$fifty/hour
  • Intermediate (social media posting, content creation, and community management): $50-$100/hr
  • Avant-garde (make and social media strategy, consulting): $120-$250/60 minutes

how much do social media managers make?

Source: LinkedIn

Fifty-fifty though social media consultants and freelancers don't earn salaries, it tin can likewise be helpful to use the salary data as a starting betoken when evaluating your fee schedule. Co-ordinate to LinkedIn, the median salary for a social media manager in the United states of america with 1-5 years of experience is $41,900. For that same role with half dozen-14 years of experience, the median salary jumps to $80,000!

What do you know about the market you do business in?

Photo by JESHOOTS.COM on Unsplash

What do you lot know about the market yous do business in?

Social media direction rates will also vary by location. In an area where the cost of living is higher than average, rates will often be college, too. The competition in your manufacture also plays an important function here in setting your freelancer rates.

Are there several social media direction companies in your city? How much practise they charge? While it tin be difficult to discover out the pricing of your competition, take the fourth dimension to perform a competitive analysis anyway to make sure you're setting yourself up to land a new client! Even if you tin't find out your competition's pricing, you may find what they offer and how they package their services.

What blazon of businesses are yous working with?

Before yous begin to price a social media management project, information technology is important to acquire everything you can nearly a prospective customer. While this information shouldn't exist the just gene in determining pricing, information technology is helpful to know when writing winning proposals and closing new business.

  • Business Size. The bigger the business concern, the more they are able to spend on marketing. However, nigh businesses volition simply allocate a sure per centum of their acquirement towards their marketing budget. In fact, the U.South. Small Concern Administration recommends spending 7-eight% of gross revenue on marketing and advert for businesses making less than $5 million in annual revenue. Keep this in mind.
  • Industry. Factors like competition, pricing, and growth plans all vary by industry. For case, the restaurant manufacture is notoriously competitive, only profit margins are slim. The recipe leaves less budget for marketing expenses. Price yourself appropriately.

Most social media managers adjust their fees for each unique client and project. While that may seem strange to some, keep in mind that no 2 jobs will e'er be exactly the same, and customizing your offering based on your clients needs and specifications is a smart manner to proceeds business. Apply your best judgment when presenting your rates – but do the research first.

What is the client's scope of work?

Photo past KOBU Bureau on Unsplash

What is the client's scope of work?

How much back up your social media management client needs is an of import factor in determining how much to accuse them for your services. Some clients require express support, while others demand 24/vii community management and artistic planning not to mention execution of posts. Before sending a proposal, be sure you are clear on what your prospective clients' social media goals are, and what they desire to run into on their social media channels. Below are a few fundamental services and variables to consider that can help plant the telescopic of work.

  • Number of platforms. How many social media platforms will the client want you to manage? Is information technology but their Instagram account, or practise they have Facebook, Twitter, Snapchat, Pinterest, LinkedIn, Yelp, and YouTube? Obviously, the more social platforms a customer has the more than you'll want to charge to manage their social channels. Also, have into consideration whether or not the platforms have already been started or whether you'll need to create and grow a new social platform from scratch. Creating a make new social media account with no followers can be significantly more fourth dimension consuming than taking over an account that is already established
  • Paid vs. Organic. Paid social is becoming a bigger part of overall marketing budgets. Brand certain that you lot are articulate on where your duties volition begin and stop when it comes to advertising on social media, as social media advertising requires a unique skillset, and if you're not well-versed in optimizing paid social media campaigns, this may be something you'll demand to larn, or subcontract out to another freelancer or fellow member of your team.
  • Content creation. Many social media managers and consultants also offer services like blogging, copywriting, or graphic design. If you're expected to create the blog posts, the charts and graphics, or the memes, and tweet and mail them, y'all'll desire to charge more. Alternatively, you may be required to do the research to find good content for the brand'southward platforms, and social media content strategy adds considerable fourth dimension to your task. Some companies may already have all of their content created past employees or other freelancers and set to go – but notice out first, estimate your required time accordingly, and outline your content creation and content strategy deliverables clearly when pricing your agreement. PRO TIP: Make some things optional – giving the client flexibility in how they leverage your services is ever smart.
  • Customer Service. Will yous exist in charge of responding to client complaints and post-obit up with them, or volition you simply direct them to an employee at the visitor? Fielding client complaints and inquiries tin exist quite time-consuming, and time-sensitive, peculiarly as a business organisation grows, so you'll want to charge a significantly larger fee if you will exist doing that kind of work and making that kind of commitment.
  • Influencer Marketing. Another factor that may become into determining your rates for social media management is whether you'll be reaching out to influencers who tin can advertise the business organisation's name, product, or service. It takes time to enquiry, contact, and engage people who may exist able to assistance the business grow their following, and any influencer marketing services you lot offer should be considered as a stand up-solitary service.

What overhead or internal costs exercise you incur?

What people, tools, and supplies will you need in place in order to provide practiced service to your social media direction clients? All of these expenses should be considered and factored into your pricing structure so ask yourself questions to make up one's mind what your true costs volition exist.

  • Employees and/or freelancers. Will you need to hire anyone to support you with any role of your contract? Can you increment the rate y'all charge by bringing on experts in other fields like copywriting, photography and graphic design?
  • Tools and Software. What tools and software will you need to become the job done? A good rule of thumb is to add upwards your monthly fees and carve up this cost out among your clients.
  • Overhead. Will yous need an office, photo studio, or coworking infinite? What supplies will you need? How much volition y'all need to spend on your ain marketing, and how much time will your authoritative duties take every day, calendar week, or month? All of these factors should be considered when pricing your services.

how will you charge for social media management

Photo by Luke Chesser on Unsplash

How will you lot charge for your services?

How social media managers charge for their services varies widely. Some social media managers charge by a retainer, some accuse by the project, while some gear up an judge for a predefined statement of work and charge hourly, weekly, or monthly. This conclusion all depends on how you want to structure your freelancing or consulting business.

Here is some more information on your options for charging a social media client:

  • Hourly Rate: Since well-nigh of the economy is based on hourly wages, it's no surprise that this is a common style for social media freelancers and consultants to prepare their fee schedule. The hourly rate is simple and convenient, nonetheless, it doesn't lend itself well to building a team and scaling your operations – and by charging hourly, y'all might run into tough situations when the scope of piece of work changes. Exist certain to set an overall gauge if you decide to charge hourly, and ascertain parameters for how you lot will track your time and address telescopic changes and communicate with the client if you think you'll go over your hourly estimate for a project
  • Monthly (Stock-still-Fee): Many SEO and social media marketing managers adopt to charge a fixed monthly fee for their services. This gives a consequent and predictable income, which is beneficial for both the client and freelancer. Make sure y'all prepare parameters here too for what you will provide at a fixed-fee, and define how you'll measure that – whether it's by deliverable (e.m. blog post, social profile cosmos, and etc.), the actual hours information technology takes to consummate your statement of piece of work, or the number of hours you make available to your customer.
  • Servant: A retainer is a payment made in advance for hereafter services performed by the social media manager and has some advantages. Lawyers are famous for utilizing retainer fees, and many social media direction consultants will charge based on a retainer fee to ensure the client is invested in utilizing them in an organized fashion, while reducing the risk on their end should a client experience delays, or neglect to provide you with the data y'all need to do the task.
  • You can likewise charge on a per-project basis that you lot prepare alee of time if it suits yous and the client. The per-projection basis offers a lot of flexibility in outsourcing some of the work assigned, specially if y'all make up one's mind to scale your business organization. That said, charging per-project also presents the risk of undercharging if a project takes longer than expected – as always, exist sure to ascertain clear parameters regarding telescopic, and a programme for how to resolve things if things don't go equally planned.

In one case you accept answered these questions, you will take an thought of what you can accuse for social media direction and how to price your services competitively, build good client relationships, and grow your business at a reasonable pace. No matter which option you choose, be firm and confident about your fees!

One time you set up your social media fees for a particular client or projection, the next step is to submit some proposals and keep your mind open to feedback. Y'all volition always meet clients who think your fees are besides loftier. However, if you find that everyone thinks you're too expensive, you may want to step dorsum and reexamine how much yous charge. With time and feel, you volition acquire when and where to accommodate your pricing.

Are you a social media freelancer or a consultant? If and so, what factors get into determining your client rates?

Other posts you may find helpful:

  • nine CRITICAL COMPONENTS OF A SUCCESSFUL SOCIAL MEDIA STRATEGY
  • Peak 8 VIRAL SOCIAL CAMPAIGNS OF THE Yr

Need further guidance in taking your strategy to the next level? Attend a Social Media Strategy Summit to hear the latest in best practices from top brands across multiple industries.