Would you pay monthly/weekly for social media management/marketing

[Tyler K]

Hey,

Over the past few years I've gotten very good with social media to say the last, in the past few months I've written social media plans, I've done over 5 different consulting sessions and have built up some pretty big Facebook pages and Instagram accounts.

I've been thinking a lot and I was thinking about starting a social media management and marketing company, you'd either pay weekly or probably monthly for daily posting on your Facebook, Twitter Instagram or any other social media accounts, I'd write the posts and use my skills to create engaging and well optimized posts for social media.

My question is, how much would you pay for this if at all? Would you rather just pay for consulting or would you want me to fully manage your accounts.

 

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[wrkizprocess]

It is hard to determine value to customers without first demonstrating that value. Clearly you have a product that you perceive to be valuable. However, nobody has traded you money in exchange for that value.

My recommendation here is that you develop a pricing strategy from the valuation in these areas of your business:

Marketing
Target Audience
Growth
Sustainability
Profitably
Milestones
Impact

The good news is that if you have already considered those factors while creating your product then no pricing suggestion here will matter.

Management / Consulting products aren't rigidly priced as are real products. Your pricing should be squarely based on your value to customers + what your customers have told you they're willing to pay.

 

[Mattie]

Some people already do that for authors, but I didn't book mark it, I just know they post them so many times per day for so many days per different packages to so many followers. And I don't use it, so I couldn't tell you how many authors actually pay for that, most of the people I know in other business do it themselves to engage with people and ends up being more conversational and personally directed to people to get interaction. I suppose it may be who your target audience is and what kind of business you would be posting.

What I do know is there needs to be more websites for authors for $2.99 and up to market their e-books and I know some of them are figuring that out and charging per book on their site for a day. The more places to put books the better. You have lots of them for promo's, but you don't find many of them for regular priced books or to put them on sale to your price versus kindle. There even charging just to twitter your book to a certain number of followers. lol I see people are clever finding a need for authors.

 

[Tyler K]

It is hard to determine value to customers without first demonstrating that value. Clearly you have a product that you perceive to be valuable. However, nobody has traded you money in exchange for that value.

My recommendation here is that you develop a pricing strategy from the valuation in these areas of your business:

Marketing
Target Audience
Growth
Sustainability
Profitably
Milestones
Impact

The good news is that if you have already considered those factors while creating your product then no pricing suggestion here will matter.

Management / Consulting products aren't rigidly priced as are real products. Your pricing should be squarely based on your value to customers + what your customers have told you they're willing to pay.

Yea, I need to show people that what I offer them will provide a good return on investment every month, I've managed social media profiles before for money but I'm looking to take it to the next level. I need to figure out how much to charge, what exactly I'll offer and then figure out how to market it correctly.

 

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[ShadowX]

Is it true businesses pay £1000 per month for this sort of stuff? Is there demand for this?

 

[Tyler K]

Is it true businesses pay £1000 per month for this sort of stuff? Is there demand for this?

Yea, there is a demand, some companies have entire social media departments.

 

[Y.B.]

Businesses pay tens of thousands to hundreds of thousands per month for this sort of stuff

 

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[Tyler K]

Businesses pay tens of thousands to hundreds of thousands per month for this sort of stuff

Yea, I wouldn't be working with those types of businesses as I don't have the man power to do stuff like that. I'd be working with small businesses.

 

[healthstatus]

Here is one of the competitors: http://www.socialmediadaily.com/social-account-content/

 

[Tyler K]

Thanks for the link, they offer a lot, but by the looks if it they're using management software like hootsuite which I could use as well to easily compete with them, going to go check out other competitors.

 

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[mt_myke]

Is it true businesses pay £1000 per month for this sort of stuff? Is there demand for this?

At my day job (...for now...) they pay over $2M/yr for search engine ads, mostly to google. Even shaving a few points off that (getting them as clicks coming in from "organic" results rather than thru pay-per-click) is a lot of money. They also employ some kind of "SEO optimization" company though I'm not sure how much that costs. It seems to mostly involve a lot of annoying trivial changes to web pages to make sure every word that appear for every url is different.

One way to come up with pricing is to build a simple model that breaks down the value you add into smaller pieces. This could be an abstract model, for example, the company sells X units now (of a product or service, doesn't really matter), based on your experience if they spent $y/month for your services it would increase sales by z%. Not only does this give you a better basis for your own pricing but it's something you can show your current and potential customers as well (scrubbed and simplified into something appropriate to show them).

 

[Tyler K]

At my day job (...for now...) they pay over $2M/yr for search engine ads, mostly to google. Even shaving a few points off that (getting them as clicks coming in from "organic" results rather than thru pay-per-click) is a lot of money. They also employ some kind of "SEO optimization" company though I'm not sure how much that costs. It seems to mostly involve a lot of annoying trivial changes to web pages to make sure every word that appear for every url is different.

One way to come up with pricing is to build a simple model that breaks down the value you add into smaller pieces. This could be an abstract model, for example, the company sells X units now (of a product or service, doesn't really matter), based on your experience if they spent $y/month for your services it would increase sales by z%. Not only does this give you a better basis for your own pricing but it's something you can show your current and potential customers as well (scrubbed and simplified into something appropriate to show them).

I've started to think about this more and I think I'm going to first see if I can get a few clients and then develop the site. I always develop the site before and end up not following through, but I'll do it the opposite way this time

 

[biophase]

Tyler, IMO you lost credibility with your thread (https://www.thefastlaneforum.com/co...m-followers-twitter-followers-much-more.55338) about purchasing likes. The problem you may have if you continue to run that other business is that your customers will wonder if you are getting them real likes and real people or just inflating your progress with fake likes. You need to pick one or the other to do.

 

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[sle3pyguii]

If you could actually show that we got sales directly from your social media management (and it's worth more than what I'm paying you) then sure.

But ditto to what @biophase said.

 

[contract]

$30-$1M/month.

Depends on how much profit will be generated...

Selling numbers on a social page and pumping fake interaction won't get a business new sales, it's not sustainable..

 

[Tyler K]

$30-$1M/month.

Depends on how much profit will be generated...

Selling numbers on a social page and pumping fake interaction won't get a business new sales, it's not sustainable..

$30-$1M/month.

Depends on how much profit will be generated...

Selling numbers on a social page and pumping fake interaction won't get a business new sales, it's not sustainable..

$30-$1M/month.

Depends on how much profit will be generated...

Selling numbers on a social page and pumping fake interaction won't get a business new sales, it's not sustainable..

Hey,
I do realize this but it's very easy to tell if the fans I'm getting are fake or real. The fake ones are typically from india and such and don't interact with any content, real ones would like real and interact and be from the country that your page is based on.

I do see what you're saying and I hope that I haven't lost credibility.

 

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