HOW TO EARN MORE MONEY AS A SOCIAL MEDIA MANAGER
The biggest mistake people make when it comes to earning more money is thinking that all they need to do is sign more clients.
But there’s a crucial step missing.
Let’s say you’re currently earning £1,500 a month but your goal is to double that and start earning £3,000 a month. And we’ll say that you’re currently charging £300 per platform.
Right now, you’re managing 5 platforms for 5 different clients. Which is great, but you do have your days where you feel a bit overwhelmed with everything you’re doing.
To achieve your goal of £3,000 a month (which - let’s be honest - you plucked out of thin air), you’d need to sign another 5 clients.
Honest question: How would you feel managing 10 different platforms/clients?
From my own experience as a social media manager, I know that trying to manage that many clients at one time left me feeling overwhelmed, stressed and in a constant state of ‘busy’. This was not the reason I started my business.
I became a social media manager back in 2017 so I could have more freedom. Freedom to work my own hours, freedom to travel, freedom to spend my days at the beach, all whilst doing a job I loved.
Is that the same for you?
What if I told you there was a different way and in order to double your income, you didn’t need to double your client base?
Raise Your Rates
To make earning more money as a social media manager easier, so that you don’t end up overwhelmed and needing to hustle 18 hours a day, you can simply increase your prices.
Let’s face it, you deserve to.
You deliver so much value to your clients, you get them amazing results and you know how much your skills have improved since you first started.
But you can’t just whack a random number on your services and hope that someone’ll pay it.
There’s a certain process you need to follow to make sure:
A) You price yourself so you can easily hit your income goal without being overwhelmed with clients
B) You feel confident in your prices so if someone tells you you’re too expensive, you don’t drop them back down again
C) You believe you’re worthy of the new rates so you don’t subconsciously block yourself from receiving more money
The Process
This seven step process will help you make more money as a social media manager without hustle + overwhelm. And in my opinion, this is a much nicer way to grow your business than trying to double the number of clients you have.
Pricing Mindset
Creating the Vision
Pricing Strategy
Selling Mindset
You, the Expert
Signing Clients Mindset
Handling Rejection + Overcoming Imposter Syndrome
Pricing Mindset
When you price your services from your current mindset, you can be full of doubts or fears that you won’t be able to sign a new client at your new prices. But when you think about future you, who is confident and has already signed clients at the higher price, you can start to tap into that mindset.
This makes it easier for you to charge more money because you believe you are worthy and deserving. When someone then questions your price, you won’t be tempted to make it cheaper (and undervalue yourself) because you recognise how valuable you are to a business.
Creating the Vision
Having a clear vision of the life and business you want to create for yourself makes it easier to move through any discomfort associated with raising your rates. When you know that charging more is attached to you living the life you want, you feel motivated to sign more clients and keep those prices higher.
It’s also important to connect your life vision with your business vision and ensure that everything you do in your business supports the life you want to have.
Pricing Strategy
Have you always wondered what you should be charging as a social media manager? Or been confused about how to price? If so, take my free pricing quiz here and discover exactly how much you should charge for social media management.
When you ask for advice in Facebook groups or Google how much to charge as a social media manager, you’re not factoring in your own needs. This can mean you need to sign 10+ clients just to make enough money to pay your bills.
Selling Mindset
It's all very well increasing your prices but then you need to actually feel confident saying that new price out loud and selling at your higher rates. Once you’ve worked out your new prices based on your income goal and maximum number of platforms you want to manage, you need to work on your selling mindset.
You need to increase your self confidence around selling your services and instead of feeling like you might annoy people if you sell to them, you need to recognise that selling is serving. Shift your mindset to believing that selling is helping the businesses you want to support.
You, the Expert
It's important the rest of your business reflects your increased rates, including your marketing. Think about your business as a whole and the ideal paying client you want to attract. Does your brand reflect your higher prices?
You also need to look at how you can position yourself as an expert so clients will pay your new prices. Think about your marketing, the way you show up online and the way you communicate with potential clients. Always have the value you deliver and the price you charge in mind. It’s no good sharing content aimed at the businesses whose budget is lower than what you’re charging.
Signing Clients Mindset
Fear that no one will pay you goes hand in hand with raising your rates which is why you need to work on your signing clients mindset. You can and will sign dream clients at a higher price, as long as you believe you can.
This mindset work is ongoing and something you need to pay close attention to daily. Exercises like journaling, repeating affirmations and visualisation can all help to build the belief muscle.
Handling Rejection + Overcoming Imposter Syndrome
Rejection is inevitable in business. Instead of taking things to heart and making it mean that you’re not good enough when someone turns down your proposal, choose to see that every no is one step closer to a dream yes. Work on feeling comfortable with rejection so you don’t end up stuck and broke.
It’s also important to work on overcoming Imposter Syndrome. There’s no doubt about it, when you increase your rates, the imposter will appear and tell you you’re not good enough to be charging that amount. The imposter is trying to keep you safe from being rejected. But you can thank them and tell them you no longer need them. You know you’re worth your new rates.