Appropriate Pricing for Social Media work (14 posts)

Topic tags: Facebook, marketing, prices, pricing, social media, Twitter
  • Profile picture of
    Adventurer
    Alan Holmes said
    10 months, 4 weeks ago:

    I’m in the beginning stages of starting a social media management company, and I’m curious to learn about resources that can assist me in determining the appropriate rate to charge clients for services (ie: Facebook/Twitter/Pinterest management, blogging, training sessions, etc). 

    @alanholmes | # | Top
  • Profile picture of
    Club Leader
    Rich Brooks said
    10 months, 4 weeks ago:

    @alanholmes

    It’s a great question, but one that’s extremely difficult to answer.

    A lot of it depends on what part of the country or the world you live in.

    Another part is how much your target audience is willing to invest in social media success.

    Also, if you don’t have much of a track record, getting paid what you deserve will be difficult. 

    I might recommend doing one or two pro bono jobs to establish your credibility and be able to show your value.

    Good luck!

    @rich-brooks | # | Top
  • Profile picture of
    Adventurer
    Alan Holmes said
    10 months, 4 weeks ago:

    Thanks for the advice Rich. I definitely think that I may go the “pro bono” route for the first few clients. Someone forwarded me a few articles regarding pricing for social media services, but I figured they were a bit high….especially for a company just starting out.

    I’m looking for some middle ground if you will. I don’t want to short change myself, but also want to make sure I don’t quote someone a price that isn’t realistic given that I am new to the business.
    For the record, I reside in the DC area.

    @alanholmes | # | Top
  • Profile picture of
    Pioneer
    Don Sturgill said
    10 months, 4 weeks ago:

    One thing, Alan, I have found important is to chunk up the project. Tell a potential client you can “get them up” on social media for a hundred bucks and you have a lifetime job ahead of you. 

    Be careful about defining exactly what you will do and how much it will cost. A piecework price is preferable to hourly pay (unless you are working in their office).

    Re. free services … maybe a no-cost, no-obligation interview and initial assessment, but anything more should require pay … even if the pay is bartered.

    @roadturn | # | Top
  • Profile picture of
    Innovator
    Dewane Mutunga said
    10 months, 4 weeks ago:

    @alanholmes

    I would go with a performance-based payment option for the first few clients.

    Establish some benchmark numbers/goals you’ll hit and the corresponding fees.

    This will allow you secure clientele and get paid based off results which is attractive to prospect who may not know you.

    Hope it helps!

    @mutunga | # | Top
  • Profile picture of
    Captain
    Amy Hall, Virtual Assistant for WordPress and MailChimp Help said
    10 months, 4 weeks ago:

    @alanholmes I’m curious to hear this conversation. As an entrepreneur it challenging to get my income to come in at a consistent level at all times.

    @amyhallbiz | # | Top
  • Lynne Fellows
    Explorer
    Lynne Fellows said
    10 months, 3 weeks ago:

    @alanholmes I am in a similar position and as a newbie, I have found that pro-bono works to some extent. However you need to specify that this is an introductory offer, else some will think its a freebie for life!!

    @lynnefellows | # | Top
  • Ann at greenoak
    Guru
    Ann at greenoak said
    10 months, 3 weeks ago:

    the hard and  so important thing  is to   tell them  what   you will  do  for what  price and  what  limits…i would probably  try and  create   a solid  introductory   package   with clear limits   and a  clear price……and   make up a  clear   example of  what you are talking about…. show  them some  good  examples of  your work…….

    also look around  and  see what the market pays  in  your  area…

    …  there are a lot of   bad  experiences out there  …. business people who  have  spent  good money with the  wrong people  and     for   very  little  return…..

    @alanholmes i wouldnt  do  pro bono….  except  for  your  family or a charity….i dont think it would  attract  the  right   client…

    @annfurnivall | # | Top
  • Profile picture of
    Pacesetter
    Claudia Poeckl said
    10 months, 3 weeks ago:

    I agree to @annfurnivall ‘s statement and would not do pro bono. Even a low price is better than stuff for free. No price, no value…

    I started to do Facebook work for a new customer at EUR 100 per month for a trial period of 3 months. This amount is really low considering the hours I have to put in. But we agreed to review the situation after 3 months, when I know exactly how much time I have to put in and my customer sees what value it brings.

    @claudiapoeckl | # | Top
  • Profile picture of
    Explorer
    Jane Cook said
    10 months, 3 weeks ago:

    I would limit the pro bono to local charities and non-profits.  It is a great way to make a difference, build experience and connect with key people.  Also, it is a way to build a portfolio of work.

    @janecook | # | Top
  • Michael Pingree
    Trailblazer
    Michael Pingree said
    10 months, 3 weeks ago:

    Here is a link to an article that goes over the pricing that is charged by some of the biggest names in the industry:  http://www.mackcollier.com/cost-of-social-media-in-2012/

    In re: pro bono — if you are going down this road to start, be sure to get something out of it. I did a free website for a non-profit when I was starting and negotiated a big banner add on the homepage and a testimonial(if they were happy with the service). That’s the least someone can do for you in exchange for your services.  You might want to see if a group has some event coming up that you could promote for them. I would rather work on a pro bono project that was a limited duration event than to say start working on their “main” social stuff and then have to walk away if they don’t hire you at some point. Just my 2 cents.

    @michaelpingree | # | Top
  • Profile picture of
    Adventurer
    Paul MacPherson said
    10 months, 3 weeks ago:

    My father said this to me once: either be free, or be expensive, but never be cheep. 
    Until you have a rep, do case studies and pro-bono work. I am re-entering the market myself and Facebook is a great place to do a case study. The reason I say that is you can mimic a perspective clients page, and even recognize them as the “official page”. This way when you show how much better job you do, you get street cred and have a tangible before and after story to talk about. Take lots of screen shots of why and how the original is deficient than your make over. Post the case study on your blog, and you have a win on many levels. 

    I say this like I know this theory works… I don’t, but it is the theory I am pushing forward with myself. 

    @paulmacpherson | # | Top
  • Profile picture of
    Explorer
    Charles Demain said
    10 months, 3 weeks ago:

    @alanholmes

    There is some great advice here. Doing pro-bono for non-profits is important to establish a credable reputation. Your pricing policy should be driven by what you beleive you are worth. Unless you are going to limit yourself to local businesses the work really is your oyster – so long as you can communicate in the language of your client and their market. Have you considered setting pricing packages starting low and then upselling to more lucrative packages? Also have you joined any of the Social Marketing Groups at LInkedIn? That’s another source of great advice and a chance to network with potential client and maybe do some bartering. 

    @charlesdemain | # | Top
  • Profile picture of
    Advisor
    Eddy Sleiman said
    10 months, 3 weeks ago:

    @alanholmes

    I would go for Rich’s advice. He is absolutely correct.

    Good luck!

    @eddysleiman | # | Top

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