Tips for Setting Your Social Media Manager Pricing

Dec 16

One of the hardest things about running your own social media management business is setting your prices! Just when you think you have an appropriate pricing set, imposter syndrome sneaks up on your shoulder like the little devil it is with the "am I really worth this amount?" "Is it too much?" "What if I scare them away with my pricing?"

Let's get the imposter syndrome and confusion to leave the chat with this complete guide of tips for what to charge as an SMM!

1.) Know how you're going to breakdown your prices

Your pricing will be defined in a sense by your industry and the services you want to offer. While we recommend package pricing, there are different options depending on what works best for you and your business. Ask yourself these questions:

Packages
Hourly rate
Based upon and tailored to the specific project/campaign
Monthly retainer
Specific service rate (engagement, content creation, social media audit).

2.) Don't compare yourself to other SMMs

You have a different experiences, services, approaches, industries, and more differences that will lead to different pricing. Don't be nervous about your pricing is different than others because when it comes down to it, it will be based on your own uniqueness! Embrace the difference and be sure to not forget about each and every detail that will make your rate yours (years in the industry, niche, degrees, certifications, service options, specialties, etc.)

3.) Create your pricing around your ideal customer

The business size and industry type should make an impact on your pricing. We do need to adapt to our ideal customers in order to attract them, so some pricing options might work better for some than for others. Make sure you do your research on your ideal customer so you know how to create a pricing plan that works best for both parties.

4.) Don't comprise your prices for one customer

A discount here and there certainly won't hurt; however, when a customer is asking you to decrease your prices for them by a significant amount, don't comprise your worth. Honestly, if they don't respect your worth, they probably aren't the right customer for you anyway!

Thanks for reading our four tips for setting your pricing as a Social Media Manager! If you need some extra help on your social media management business, definitely consider our Social Savvy Collective membership!