As a social media marketer, it is up to you to determine your true worth so that you know how to charge your clients. Those who are new to the marketing industry will usually need to charge lower rates than someone who has worked in the industry for many years so you can take on work and build a name for yourself. Clients want to see stats and they need to know that the person they hire is going to be able to do what they say they can do for them. The first job you have with a new client is not going to be building a promotion for their company. Instead, your very first task is going to be selling yourself, so your potential clients know they need your services.
Unless a town has only one local store and there is no competition at all, most businesses need to have a strong social media presence. It takes far more than adding a new photo every other day or copying a sentimental, feel good quote to keep customers engaged and in today’s world of business it is important to have someone who takes time to understand the company, what it sells or the services it provides and then take that information and make people feel that they need to shop only with that one company.
Social media marketers can earn hundreds or even thousands of dollars on even small marketing projects. Knowing how to properly charge by considering the local market and the trends that have been set will determine which end of the spectrum your earnings may be.
Points to ponder
Before setting out to pitch your incredible marketing services to companies, you must take time to learn about the market you are approaching. If you plan to work with large, established companies who have a large marketing budget you can charge higher rates than if you pitch to small, local owned businesses that may be struggling to keep the doors open. Those businesses will not be able to afford the higher rates, and if you cannot be flexible with what you charge, you might lose what may potentially be one of your best clients.
It’s also important to take into consideration that some companies will want you to work from their office rather than from the comfort of your own home office. Sure, social media marketing can be handled remotely from any location and more marketers today than ever before work from their home office or while on the road, but there are some companies who still work with traditional office hours and insist that their advertising and marketing personnel work from inside the business only.
If you plan to work solely as a remote worker with the freedom of not having to punch a time clock or find yourself stuck in an office environment, you need to make sure your pitch to sell yourself is effective and that the work you do is top quality.
Marketing rates are also determined in part by the number of social media platforms that are used. For creating content for just one platform daily, rates will be lower than if you post to Facebook, Instagram, Twitter and more each day. If you are hired to build a social media profile from the ground up, you can charge higher than when you take over an already existing page and just need to add fresh content to the page.
Social media management today not only consists of quirky one liners or sentimental Facebook posts and photos, but companies should also have a blog where customers can find quality articles to read. Marketers today write blog posts, technical articles, create infographics, videos and more to help market the companies they work with.
Depending on which social media platforms you post to and what types of content are required from the company, be prepared to charge more when there is more work involved. Take time to sit down and calculate how many hours will be spent monthly to research information as well as create visuals and write content.
How to charge
Some social media managers charge by the hour whereas others will charge per project or even by the word for written content. The way you charge is entirely up to you but when setting your rates, you must take the customers and their business into consideration.
Never settle for a low rate of pay when there will be a great deal of work to do, but also know when to offer flexible rates so you can keep a good client. Discreetly check around with competitors to see what they charge in your local market or check online to see what others charge for similar services.
The bottom line to everything is to know the market and be flexible with your time and rates. No matter what amount you feel you need to charge, be sure to provide the same high-quality marketing services to each client you have.