It's one of the most popular questions we get from students - how much should your charge for your social media services? There are many ways to approach this!
Watch this episode of 'Pricing Your Social Media Services' by click the link below:
If you're new to Social Media Marketing - whether you are just starting out, changing careers or up-skilling to get a better role: the more confident you are in delivering results, the more opportunities will arise.
Take advantage of every opportunity to use your skillset. Initially, you may need to do this at no charge but theres no better way to hone your skills than by offering yourself as a free resource. Approach any small business, colleagues / other departments, friends, family or your network and you'll be hard pressed getting a 'no' if you're simply looking for experience.
Key Considerations
- Is your work Project based (e.g. create a video) or retainer based (e.g. manage facebook ads). Projects are challenging to staff, whereas having a retainer is predictable so you'll be willing to accept a lower margin.
- Fixed fee or billed hourly - fixed can be more risky for freelancers, so be sure to price higher where you can.
- DIY or will you employ others? - how much do other resources cost and are they available?
- Leave a bit of room for negotiation - it can help get the deal over the line.
- Secure your first or landmark client, then move price up from there!
- Set minimum fees - know when to say no to small jobs!
- Define what success looks like - if you and your client don't 100% agree, they'll find it hard to continue spending every month.
- Trial different pricing models until you find what works best for you.. it's ok to make mistakes.
- Competitor research is a good starting point
Contact the team at Social Media College to discuss your social media marketing strategy!
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