How much should I charge for my social media services?
I have been asked for a quote on a very narrowly focused project:
Create 2 tweets per day, M-F. So, basically 10 tweets per week. I offered to manage additional social media sites and consult on strategy as well, but for now they just want a quote for Twitter.
I know it is such a small project, but I was still thinking of offering a 3-tiered rate.
Basic - Tweet content with links and wording exactly as provided.
Silver - Tweet content (client to provide) but reword to elicit greater click-through.
Gold - Tweet content (client to provide) but reword to elicit greater click-through and research / provide additional tweets for related content.
Any feedback? Would love some suggestions for a range of what to charge, and whether you would do it by the tweet, by the hour, or offer a weekly or monthly rate.
Thank you in advance for your input.
First, I would like to congratulate you on your new deal no matter how small it may be at the time. If services are provided to the client's satisfaction more sizable and profit will follow. The 3-tiered rate is a great idea:
Basic rate- $47 monthly fee
Silver rate- $77 monthly fee
Gold rate- $97 monthly fee
I hope this helps in making a decision for your paying rate.
It's hard to determine pricing sometimes when the project is small.
Depends on your goal, although as a caveat, I am an entrepreneur that has a large risk appetite than most, so you may want to dismiss my opinion!
If you're feeling aggressive, I'd do the following: Use this as an opportunity to prove your worth, and charge nothing or next to nothing while providing superior value. Use it as an opportunity to position yourself as their de facto social media manager, so that when the opportunity arises (or better yet, you show them the position of need), you're already positioned as the right fit for the job.
In my view, even if you're tweeting +100 times per week, I have a hard time imagining that this will take more than an hour or so if they are providing the content. Send the content out as is, but look for patterns in what they are sending and analyze response trends. When you have enough knowledge specific to their progress, offer practical advice and strategies to your point of contact (e.g. "I noticed you're sending out "x" type of tweet here, but it seems as though tweet "y" is actually getting more traction--here's my analysis showing why, and more importantly what you can do in the future to maximize traction). At the end of the day, you risk a few hours of your time for the potential upside of more work and better rates down the road. Even in the worst case scenario, you were able to provide someone with value, which in my experience is always a positive.
The numbers are really an oddity for me given that we here base our hourly rates on a wide range of social platforms and marketing strategies. I like the numbers Dion mentioned. Tweeting on Twitter a couple times a day for us here is nothing. In an hour's time we could flood out thousands of tweets for hundreds of clients. So the only dollar amount I could say would have been $2.00 per tweet.
Here's what I would do. Determine the hourly rate you want/need to survive, comfortably. Then determine how long it would take you to do each of the three levels per week and apply your hourly rate as necessary. Then you know exactly what you're getting paid. I generally quote, for small stuff, $20/hr but if a project grows and I know it's going to be a long-term thing (6 months or more) I'll offer a discount to around $17.50 because I'm comfortable making that amount, but I never go below that. As I work for multiple clients each week, I make between $17.50 and $20 an hour as a freelancer, and have done for 10 years now.
I would go for small monthly subscription(10-20€) plus an amount for each follower(0.15-0.25€). I believe this approach will work best ad it is performance based.
Here's what I would do. Refuse the offer. Because I know it would be very unlikely to generate any returns on investment whatsoever. I would offer instead a workshop on how twitter actually works - and show them with measured, reliable data collected over 6 months why this is unlikely to be the best use of their money. But then I'm ethical.
Honestly, this sounds like a company who isn't super familiar with how twitter works and if you did their 2 tweets, and nothing happened (which it probably won't), then they'd think there was no value in what you did anyway.
I know you're just asking about pricing here, but having run twitter accounts and campaigns for clients I speak from experience in that there's a lot more that should be going into it than simply posting 2 tweets a day. Determining if their market is even on twitter, engaging with that market, doing content marketing research, doing research about when their target market is hanging out on twitter, etc. etc.
Honestly, the lowest rates we'll even consider for twitter is $500/mo because we include those things that give the engagement more chance of success.
If someone literally only wants to make it seem like they're, "on twitter", they're doing it wrong. But if they really want to pay for that service I would determine how many hours it would take you to do it, and simply charge them your hourly rate.