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Advice on Pricing for SMM
Hi, friends! I’m looking for some advice on how much I should charge for social media management/marketing services.
For some context, I have about 3 years of solid experience. I currently work full time as the social media coordinator for a medium-sized company. My friends started a podcast last year that is slowly increasing in popularity, and asked if I would manage their social media for them, and help out with various marketing efforts if I have time. They have about 500 monthly listeners with zero marketing efforts. The people who do listen really like the podcast so they definitely have a lot of potential for growth.
They are insisting on paying me, even though they aren’t making any revenue yet. Purely out of their own pockets. They told me to name my price, but I have no idea what to charge them. I currently make about $25/hr at my full-time job, but there is no way I could ask them to pay me that much. Plus I am unsure of exactly how much time I could commit considering this would be a side gig. They don’t have any hard and fast expectations, basically just asking me to do whatever I have time for.
Could someone offer some advice on how I can go about charging them? Should I charge hourly, or service-based? What is normal for freelance work? I’ve never done anything like this before, and I don’t want to charge too much, as they are my friends and again, aren’t making a profit from the podcast yet. Any advice would be appreciated.
Thank you!
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1 Reply
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As you aren’t entirely sure how much time you can actually invest, I would charge hourly. When it comes to the hourly rate, I would actually discuss it with them and simply ask what their thoughts are when it comes to payment, especially as they are your friends. From there, you could feel it out and see if you are also comfortable with the amount that they have in mind.
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