How to Price Your Social Media Projects
This week, we’re talking about the huge — and growing — opportunity for writers in social media. Yesterday I mentioned there are a couple of different ways you can profit in that niche. Let’s check them out in detail:
First, you can help companies with the writing of their social media updates, posts, and tweets.
Second, you can help them with their overall social media strategy.
Let’s take a look at each of these opportunities.
As a web writer, you are in an ideal position to offer your services as a social media writer. You can be the person who is hired to write a company’s tweets, or its Facebook updates, or its Google+ posts. Or you can tackle all three. Not to mention LinkedIn and all the other social media sites like YouTube, Pinterest, and others.
To give you an idea of the size of the task companies face … as of May 2013, over 4.7 BILLION pieces of content are being shared DAILY on Facebook alone. Companies need QUALITY social media content to stand out from the crowd!
Can you make decent money writing these short-form social media entries? Sure. You’re not setting the price for a single Facebook update; this is about selling a monthly service that comprises writing the updates, participating in comment streams, answering questions, and so on. You become the social media voice of the company.
And while prices for these services will vary from client to client, you can anticipate a fee of $2,000 a month for writing that Facebook content.
Add some other social media channels for the same client or a list of clients who all need your writing skills for their Facebook pages, and you can see how you can achieve a six-figure income as a social media writer.
Now let’s consider the strategy side of things. Maybe you don’t want to be the person who writes all the updates and tweets. Maybe you would rather act like a consultant, advising companies on how to best integrate social media into their marketing and customer service activities.
You can open the door to this kind of work by offering an assessment of their current social media activities. And yes, you charge for the assessment. Within the assessment, you include a set of recommendations. And yes, you offer your services as the best person to help them implement those recommendations.
How much can you charge for the assessment alone? It depends on the size of the company and the scope of the assessment, but you can think in terms of anywhere between $1,000 and $5,000.
Remember, most companies have social media pages but don’t know how to use them. You don’t have to sell them on the idea of social media; you simply tell them you can help them make those pages more effective.
According to a report by eMarketer:
“Only a quarter of all U.S. small businesses (20-99 employees) and a third of midsized companies say they use social media ‘to engage with customers and prospects in a strategic and structured way.’ Another 20% of both groups say they use social media, but in an ad hoc manner.”
That’s right … millions of companies in North America alone have created social media pages but don’t know what to do with them.
That’s why now is exactly the right time to dive in and offer your expert services as a social media writer, or as a consultant … or both.
That’s it for today. Tomorrow we’ll be looking at how you can integrate social media work into your current freelance writing services, and how you can pick up those first few projects.
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