How much can you make as a social media manager?
Are you thinking about starting a social media management business? If so, one of the questions you have probably asked is “how much money can you make as a social media manager?”
Well, I am so glad you asked. Today, I want to break down what you can expect to earn in your first few years as a social media manager.
How your business can support your lifestyle
So the first thing I want you to keep in mind is why you decided to start your business in the first place. Inside my signature coaching program, I always start my clients off by doing a lifestyle assessment. This means, we take a look at what they want their life to look like, and we work backward to create a business that is going to support that, both financially and in terms of their business structure.
You want to create a business that is going to support you financially. But also give you the life of freedom and flexibility that you have been dreaming of.
How you can charge as a social media manager
There are two common ways social media managers charge for their services.
Charging hourly means that as a social media manager, you keep track of your hours and you charge a set rate for the hours that you work. Typically, the hourly range for social media management services can range anywhere from $15-50. This depends on the level of service that is provided. Most social media managers will create hourly monthly packages. For example, 10 hours per month at $25 per hour. This means that they will work for 10 hours a month for that client and will bill them $250 each month.
If you are just starting out as a social media manager and you are not sure how long tasks are going to take you to complete. Therefore, hourly may be a good way to start out. However, as your skills improve, you don’t want to end up making less money. As you are getting faster and faster as you develop more processes and systems you will be working fewer hours.
That is why I recommend my clients create service packages in their business.
As a social media manager, you can create a monthly package to offer to your client. This will include a set of social media services that you will provide each month. Depending on what is included in that package, social media managers charge anywhere from $300 – $2,000+ for their monthly packages. This means that how much you can make as a social media manager will depend on what level of service you provide and how many clients you choose to work with.
Let’s say you create a signature package for $1,000. This means you would just need 3 clients to earn $3,000 a month. Super doable!
And the best part is that most social media management clients sign on for multi-month contracts. This means that you will be able to make this recurring revenue month after month. You won’t need to constantly look for more clients to sell to.