Freelance Social Media Manager Rates – What’s the Average?
It’s challenging to find the average freelance social media manager rates today as the industry is ever-changing. If you are new to the world of freelancing, it can definitely get confusing when you are trying to figure out freelance social media manager rates. It can be different depending on a variety of factors, which will be further discussed below.
The position or role of social media manager is fairly new compared to other freelancing jobs, such as an accountant or a writer. This type of work came about due to the surge of social media, like Facebook, Instagram, Twitter, and TikTok. One of the main challenges of this job is to keep up with social media. And that is also one of the reasons why it is so hard to find the average rate for a social media manager.
Freelance social media manager rates can fall anywhere between $20 to $50 per hour. But you might be able to find higher or lower rates depending on where you look or ask. This will also change if you consider charging per project instead of per hour. Also, you can’t compare the salary of a full-time employee working as a social media manager versus a freelancer.
Factors That Affect Freelance Social Media Manager Rates
If you want to find the average rate for a social media manager, then you have to know the factors that affect it first. Once you have a better idea of these, then you can have an easier time getting the average payment that you may ask from a potential client:
• Scope of Work
When you are a social media manager, this can well very mean that you are a jack-of-all-trades. With so many tasks and responsibilities, social media managers are destined to be CEOs if they wish to pursue that path.
When you are looking for a social media management job, you have to be aware of the scope of work. What exactly are you going to do for the potential client? Social media management can be as simple as scheduling posts but it can also be as complicated as processing insights and doing competitor analysis.
Of course, the more complicated the tasks and responsibilities that you will handle, the higher the average rate. As a social media manager, you need to be the whole package, learning how to plan social media campaigns, actually running said campaigns, and analyzing the results. At the same time, you need to be prepared to offer these services “a la carte” depending on your client’s needs.
Do use a scope of work and discuss this with your potential client before getting to work. This will help clear things out on what your responsibilities are.
• Number of Accounts
It’s fairly common for companies or clients to have more than one social media account under their name. Typically, these accounts will be handled by just one social media manager so that there is uniformity across all platforms.
You need to know how many accounts you have to handle as rates will definitely differ depending on this. Some social media managers may offer packages for handling multiple accounts with similar posts. However, if the client wants special or unique individual posts for each social media account, then that is a different rate altogether.
It’s also important to note clients or companies that have multiple accounts on one platform. Maybe you have a hotel group that has multiple properties and each one needs a unique Facebook account. It’s also possible for a company to have a professional account that is aimed at the public and an account dedicated to investors and employees.
• Social Media Platform
There are many social media platforms out there, it’s not just Facebook or Twitter at the forefront. If you specialize in a specific social media platform, this can very well change the average rate. If a client has a specific social media platform targeted for you, the rate should also follow. For example, more and more companies are now taking advantage of TikTok. This will have a different rate as opposed to just handling Instagram.
Each social media platform has its own purpose and a social media manager’s job is to find out if their client can actually utilize it. So, do take into account which specific social media platforms you need to work on before checking the average rate for projects on this.
• Skill Level and Experience
Each social media manager has different skill levels and you can’t compare the right of one who is a beginner with another who is an expert. You need to figure out the skill level as well as the experience of the freelancer to find out if you are making the appropriate average rate.
• Hourly or Per Project
This is one of the major discussions in the freelancing community, do you charge per hour or per project? Of course, the freelance social media manager rates will differ depending on this factor. When checking out the average rate, see to it that you are comparing rates that are charged by the hour or by the project.
• Freelance Platform or Community
The rate will differ depending on the social media management community you are in. Take note if there are rules to be followed when it comes to rates. For example, some communities will frown upon freelancers who have rates that are below the norm. Although the freelancer with the low rate will have more chances of being booked, that person is also dragging down the rest of the community’s rates.
Tips for Finding the Right Average Rates for Freelance Social Media Management
Once you know the factors that you need to consider for finding the right average rate, it’s time to actually get a number for freelance social media management gigs. How do you go about doing that? Check out the things you can do below:
• Ask fellow freelance social media managers
If you already know other freelancers who are in the same industry as you, it doesn’t hurt to know what their rates are. This can help you determine if you need to increase or decrease your rate, too.
• Research competitors
It’s okay if you have yet to come upon fellow social media managers who are also freelancing like you. You can always check out the average rate for social media management jobs by checking out your competitors. See how much they are charging for projects or per hour and what they actually offer. Make sure the competitors you look for are those who have similar skills and experiences as you.
• Check out potential clients’ offers
Finally, you can check out job listings. You’ll be able to notice that potential clients have a specific range when it comes to hiring freelancers. It’s easier to gauge the average depending on the demand that clients are dictating.
Again, freelance social media manager rates differ due to the factors covered above. If you want to know the average, you can try doing the tips that have been discussed. For freelancers who are just starting out or still making their way, it’s best to stick to the average freelance rates. However, if you have the skills or the experience you can always go higher than the average.
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