How Much to Charge for Social Media Management
Learning how much to charge for social media management services is a tricky and daunting proposition. There are so many different packages of which manage different types of sites. The common misconception is that if you manage five sites then you will be charged the same as if you manage fifty sites. This is not true. What you will find is that there are many variations in the packages that are offered by these agencies.
So how much to charge for social media management? The answer is that you will need to work out a figure with your chosen agency or company. This will help them to understand how much business they can expect to do for you. They should work out with you how much your current client base has bought from them. It is also important to get some kind of a figure from your current client base so that you can make a fair assessment of whether or not to increase or reduce the service packages that are being offered to you.
Many companies, even those who have a strong social media marketing presence, are not keen on paying hourly rates for their social media managers. For this reason they may charge a flat fee or a percentage of the overall monthly sales for the site. This is a very good option for those who want to know how much to charge for social media management services but aren’t keen on paying hourly rates. For those who are willing to pay a flat fee or a percentage of monthly sales they can usually get a more reliable service package. This means that their social media manager will be more time efficient and can focus on other aspects of their business.
Another thing to consider when thinking about how much to charge for social media management pricing is how many social media sites you want to manage for a particular client. If you only intend to manage a few sites then you will save money by only hiring freelancers to work on these sites for you. However, if you have dozens or even hundreds of sites to manage then you will need to hire several freelance workers to each specialize in a handful of them. By using the cost per hour or even per job pricing you can work out how many workers you will need to hire to manage the sites for you.
Freelancers will also have their own retainer fees which you need to factor into the equation. A freelancer might work for one client a month for a period of months and then require another client after this time has elapsed. As such the freelancer will be charging their clients according to the number of hours they have been working for them. If you choose to go with a monthly fee then you will be charged for the entire duration of the contract for all the sites that your client wants you to manage.
Another important consideration is how much to charge for social media freelancers. There are a lot of packages available that your social media freelancer can offer you. You will be able to put together packages that include not only your services but also training and support as well. This will allow you to put together packages that suit both your needs as well as the needs of your client.
In addition to how much to charge for social media management packages there is also the question of how much to charge for individual services. In some cases you can get as much as half of what a package includes so it is important to compare this with how much to charge for the same set of services separately. For example if you are an online marketing consultant you could charge the individual site owners for the design, hosting and maintenance of the sites for their business. You would then take a commission from this. However, if you were to hire yourself as a social media management consultant and offer to do this for free, you would not be charging for these services but for the design and hosting.
One thing that many online business owners forget about when they are trying to decide how much to charge for social media management is whether or not they are charging enough for the services that they are providing. Many site owners are very happy to get their name out in front of potential clients by providing free services. However, they do not realize how much these services cost in terms of having to train, advertise and promote themselves. Once they realize how much they are charging for their services they become less willing to provide these services because they have no means of recouping their initial investment. So before you spend money on any type of social media management service make sure you understand how much to charge for the services being offered.