Raise your hand if you want to earn $5000 per month (or more) in your social media management business…
Keep your hand raised if the idea sounds impossible right now.
If your hand is still raised, this one’s for you.
We know you’re ambitious. You have a valuable skill set…
Our mission is to convince you how it’s 100% possible for you to make $5000/month with those skills, as a Social Media Manager.
All you need is a strategy: the right business model, coupled with service offerings that are priced accordingly.
So here are 3 ways to make $5000/month as a Social Media Manager...
10 Clients Pay You $500/Month
When you offer social media management services at a lower price point, you’ll need a larger client base to meet your $5000/month goal. Juggling ten or more clients is a lot for anyone to take on, especially if you attempt to provide these clients with too many services!
Instead of offering a full social media management package (please don’t!!!) consider creating a single, very specific service for $500/month (ex. Pinterest board management, monthly strategy sessions, or caption writing).
Check out these 7 services you can offer as a Social Media Manager for even more ideas.
5 Clients Pay You $1000/Month
It’s a good idea to establish a baseline price for your retainers, with an option to include additional services as needed, a la’ carte. For many Social Media Managers, $1000 per month is a great “starting at” price for basic level platform management.
PRO TIP: When creating your baseline management packages, make sure you’re extremely clear about what is or isn’t included in the monthly retainer fee. Also, keep in mind that some platforms (ex. Instagram) may require much more daily / weekly maintenance than others (ex. Pinterest).
You’ll need to determine if your “Basic Level Management” of an Instagram account includes posting to Instagram stories, creating quote graphics, community management, etc… or if you define “Basic” as scheduling 5 posts per week with captions, auto-publishing (and everything else is extra).
These specifics are 100% up to you to decide — but creating this clarity around your deliverables will be important when you’re communicating your offers to potential clients.
2 Clients Pay You $2500/Month
Fewer clients at higher, full service pricing is the way The SMCEO team rolls. At $2500/month, you only need 2 clients to reach your $5000 / month goal!
However, in order to bring in clients at these higher prices, you’ll need to make sure you do a few things:
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Master the platforms you offer services on
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Position yourself as an expert in your industry
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Niche down to ensure your ideal clients value your services & actually have a marketing budget
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Get your clients tangible results (so they stay & continue to pay!)
Your “Full Service Management Package” might include everything in your “Basic” level package with a few additional services or an additional platform.
If you’re a trained specialist, you could also charge $2500 / month for a single service that’s proven to get your clients a very specific, highly valuable transformation. (ex. offering a paid ads strategy that yields your clients a 3x return on add spend each month).
There you have it: three different financial paths that will each lead you to $5000 per month as a social media manager.
As you continue to work towards growing & scaling your business, ex. doubling your $5000 / month income to $10,000 / month, you’ll definitely want to consider getting some of those daily tasks off your plate by outsourcing — then you can use your free time to continue to grow your business!
