Small Business | Forum « How do social media consultants charge clients?

How do social media consultants charge clients? (8 posts)

Ernesto said
1 year, 2 months ago:
Several small businesses and organizations have approached me about helping them market through social media. Since I’m new to the game (or at least new on charging for it), I’m trying to figure out how much is appropriate to charge. A few questions:
1. What’s the range of hourly rates charged by SM consultants?
2. Anyone have experience getting paid on commission — for bringing new clients to the biz? I can’t see yet how this would work, but one client is asking for it, so I’m brainstorming.
3. For companies who simply want me to run a FB page and Twitter feed rather than investing in a complete online strategy, got ideas on fee structure?
Would love to hear how others make this work.
Thanks!
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Moin Shaikh said
1 year, 2 months ago:
@goldibi hi ernesto, deciding the price formula for social media package depends upon many factors such as nature of business of client, country, efforts level or total time being spent of the project plus your relation with that client, apart from these, there may be other factors playing role in this subject. But you can refer to our following thread discussed earlier here to get an idea on how to fix pricing so that both you and your client are happy in the end.
Here is that forum thread
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Dea Irby said
1 year, 2 months ago:
Ernesto, just remember: ”your rate is your announcement to the world of your confidence in your skill set!” (Suzanne Evans) Just don’t under sell yourself. @goldibi
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Ry Russell said
1 year, 2 months ago:
@goldibi Absolutely would not do Social Media on commission. Just as @deairby explained, price = confidence. I am not the least expensive consultant in the area, but I have a proven track record, and very transparent results that explains why. The other piece is price quality perception. If you are the least expensive option chances are clients would perceive the skills as sub par. SM is a very unique skill, so be confident and then just come in at a price point that your confident after 6 months they will start making more money than your charging.
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Lori Highby said
1 year, 2 months ago:
@ryrussell yet again, I agree with your post. Be confident in your capabilities and charge clients accordingly. @goldibi Your price structure for your business should be dependent on what your goals are. Do you want to make $300/hour or do you need to make $50/hour? Figure out your goals and work backwards to figure out what you need to charge to stay positive in your books. Pricing should reflect the quality of your work and the overall time investment.
We set a flat monthly retainer for the client and identify exactly what they are getting within that month, if they want more than what is outlined, we charge them more for that month. Bottom line, you need to get paid for the work you are doing and don’t undercut yourself.
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Ry Russell said
1 year, 2 months ago:
@lorihighby Right on, I just want my clients to pay me and in 6 months start making more money. That is why I am in business. I haven’t been in this situation yet, but, if the trend was not going positive than I would make adjustment to my price until our companies pay goes up with their revenue. I think that is what most B2B businesses miss is that if you are providing results you WILL lose a client. I just love what I do and I am in business to make more money for others while making a living. #happybusiness
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Edward Brown said
1 year, 2 months ago:
@ryrussell excellent point Ry! Measuring an ROI for a client takes time and strategy that also must figure into your cost. Overhead and R&D shouldn’t be given away, unless that the price for establishing your SMM skills. @moinshaikh, I really appreciate your link to that forum. I happened onto SMM as a favor for a business associate/friend, and fell in love with the industry trend. Gaining insight and awareness such as that provides me with great insight!
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Ernesto said
1 year, 1 month ago:
This is great! So much of our industry is done behind closed doors, so it’s nice to see everyone come together and share the realities of pricing. I think it helps the consultants and agencies more, and of course helps set client expectations as well. Thanks for putting this together. One more thing, i need a Proposal template, just to get start it!Any help, always welcome!
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