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Last Updated on May 27, 2021 by Arif Chowdhury
It’s a lot of fun if you have content writing and managing business. However, you may be asking this question: how much should I charge for social media content creation?
As you can work from anywhere you want, set your schedule, attract clients who want to expand their companies, you don’t sound like a fraud when you update a snapshot of your office on a social media status. However, how much do you bill for your content writing and managing service? This question will torment you even though you are in this business for a long time.
This guide can help you devise a pricing strategy, validate it, adjust it, and find the correct pricing for your specific market at this exact moment in time if you want to revamp your existing business model along with the pricing model. And it will, without a doubt, alter again.
Why do you need to adjust the pricing model or rates?
I want you to check these signs, regardless of how long you’ve been in business:
- You’re swamped with jobs that you can’t keep up.
- There are too many leads you currently have and don’t have enough resources.
- Almost all of your leads turn to paid customers.
- You’re resentful and exhausted.
- You won’t be able to meet the financial objectives
Either of these signs may indicate that you need to increase your rates or alter your pricing model. You should move from hourly billing to a monthly rate if it is a fixed rate service. It may be time to outsource jobs and expand your staff. In that case, you should increase the costs to maintain your profit margin.
Here is a base pricing model for you to get an idea.
|Blog, article||$0.01 to $1 per word||500 to 10,000 words|
|EBook||$0.05 to $0.50 per word||10,000 to 100,000 words|
|Image||$0.50 to $10 per image||Mid to high resolution|
|Video (basic)||$200 to $1,500 per video||1 minute to 30 minutes|
|Video (advance)||$2,000 to $50,000 per video||60 minutes to several hours|
|Live video||$2,000 to $7,000 per streaming||60 minutes to several hours|
|Infographic||$500 to $7,000 per content||Low to high end|
If you do not have any idea where to start then use this pricing model as a baseline.
Decide what types of content you should create?
Digital marketing popularity is largely dependent on the quality of the data you share. Small companies, on the other hand, face a host of obstacles when it comes to creating profitable, deep content. It’s challenging, time-consuming, which can, at the very least, bring value to any consumer experience.
Content solutions typically involve a diverse mix of content styles to better solve these obstacles. You will give the viewers a more immersive experience if you use a variety from these seven various options in the advertising campaign.
Those are the benefits and drawbacks of each promotions marketing style, as well as how to create it or the best channels for them:
1. Journals, blogs, reports, tutorials, and other written content
Cost of production: depends on the quality of the content. Ranging from $0.01 per word to $0.50 or even more than $1 per word.
Advantages: This publication illustrates the business’s experience and understanding, which will help you gain respect and improve your image.
Drawbacks: There is indeed plenty of website content around nowadays, so the rivalry is fierce. Coming up with fresh subject topics requires a lot of imagination. Generating topic ideas takes a long time, particularly if you’re describing complex topics.
How to make it: Look at recent trends to help you come up with convincing content. It can provide you an overview of the types of issues people are looking for answers to and will help you come up with topics to think about.
The right networks for this piece of data are LinkedIn as well as Facebook, particularly for posts that are 800 words or even bigger. You have the option of posting the entire piece, a brief excerpt, or a reference to the article. Twitter is indeed a good option, but due to the word cap, you will only have a connection and a short quote that can also push inbound links.
2. Benefits of digital books (kindle books):
Cost of production: price ranging from $0.05 to $0.50 per word based on quality and quantity.
Advantages: The eBook contains deeper and far more informative information than an article, allowing you to demonstrate your business knowledge. In comparison to websites, other organizations don’t invest their time to create an eBook, thus you won’t face too much competition.
Drawbacks: Not all wish to digest an eBook, and creating and finding material that would cater to the audience takes time. Although they can aid in the generation of leads, they are not often read.
Platforms to use: LinkedIn users come to chat with friends and talk about their jobs or other passions, making it a perfect venue for sharing an eBook. Secondary alternatives include Facebook and Twitter.
Benefits: If you’re not using the opportunity to complete a blog content or your author is away, you can still refer to related blogs, tools, and resources from many other reliable outlets. Big companies are all great content providers.
Handicaps: As you connect to material that you’ve not made, you’re essentially inviting another company’s social networking insight into yours. People who read may also find another source more useful than your website. In social networking sites, content curation is indeed an effective digital marketing tool, although it can be cumbersome.
It’s crucial to keep an eye on any social metrics and ensure that curated content is entertaining and profitable, rather than abandoning your content production.
Ways to create it: Examine various blogs for keywords that are identical to those on your webpage.
4. Visual content – Image
Cost of production: depends on the quality of the image, price ranging from $0.50 to $10 per image.
High-quality photographs or videos improve engagement and make the company more appealing to consumers. Customers would be less likely to swipe past your content and skip your message if you use them.
Advantages: Long-form posts and papers are much less digestible and entertaining than visual content. Do you know your mobile phone cameras can capture breathtaking images, and applications make it easy to edit them, apply filters, and more?
Disadvantages: Websites that rely on images, such as Instagram, will face hardcore competitions. A specialist camera and editing tools can be expensive and time-intensive to use if you want content above what a smartphone can do.
Platforms to use: Images look great on all platforms. However, Pinterest and Instagram are one of the most photo-friendly. Alternatives are Facebook, Twitter, etc. Incorporating a picture into a blog post will also boost the interest of your audiences.
5. Visual content – Video
Cost of production: it also depends on the quality and length of the video. A basic video can cost you from $200 to $1,500. While a lengthy video can cost up to $50,000 or more.
It has become a lot easier to capture since the introduction of mobile cameras. Facebook’s algorithm favors it, and it’s an excellent way to exhibit your wares.
Furthermore, with the rise of live streaming, user preferences for viral video have changed. Videos with a rougher edge can sound more at home on social media sites. Please give it a go and incorporate them into your content marketing plans.
Advantages: It’s quick and straightforward to record videos, and they’re more entertaining than photos. How-to videos, tourist videos, and various exciting product announcements and demos are examples of excellent video posts that can boost website visits and purchases.
Disadvantages: Making short videos is cheap, but if you choose well-researched content, prices can rise.
Best platforms: Though YouTube is indeed the best platform for video content. Facebook videos still work well. Instagram is the perfect choice for shorter posts, much better than the YouTube platform.
Recommended Reading: Facebook Marketing: 7 Advanced Ad Targeting Strategies for 2021
6. Live Videos
Cost of production: the cost of video and live video is somewhat the same.
Advantages: Do you know live streams are an excellent way to introduce live experiences to people who cannot attend in person? Unlike stories, it usually deletes after 24 hours, and the audience can see live streams at any time.
Disadvantages: Contrary to popular belief, there are several disadvantages of using this method. You do require something interesting to show, like an event. Afterward, you’ll need someone to chat with when using the mobile phone or other devices. It’s also crucial to have a good WIFI link. If your internet connectivity is slow, the video can pause and often buffer, resulting in poor quality.
When it comes to the best social platform, Facebook Live is best for live streaming video content. Smaller channels like Periscope are still available, but attracting a broad audience could be more difficult.
Cost of production: price may vary from $200 to $2,000 based on the quantity of information.
Advantages: Visuals are used to help interpretations, data charts, and other useful definitions in infographics. They’re particularly effective at communicating abstract concepts.
Disadvantages: Producing an infographic necessitates both copy and illustrations, which could require the collaboration of several individuals. They also need innovation and analysis.
The best websites for infographics are Pinterest, Facebook, and LinkedIn. Twitter is another choice.
Content is the true asset of a business
Your social media content has the potential to increase brand popularity and convert raw audience to your loyal customer. This kind of result is only possible for a well-thought-out social media marketing campaign. It’s not enough to appear on any website and refresh the audience on a sporadic basis while you have the opportunity.
Identifying particular priorities, creating valuable messages that correspond to your objectives, and distributing material to the appropriate channels are also ways to get success in social media. Then you can track your progress and optimize your plan as needed.
There is no one-size-fits-all approach to social media that can guarantee results. Based on the business and target demographic, your policy would be different. However, there are clear steps you can take to create a strategy that will last that will help the brand and company prosper.
Define a reachable goal
Setting marketing priorities is the first step toward a reachable goal. Having a set of objectives in mind will assist you in determining what type of content you should create.
This method entails delving into the brand’s ideals as well as conducting consumer analysis.
Begin by determining your ultimate marketing objectives and how your content marketing approach can help you achieve them. The more precise your campaign objectives are, the more effectively you can adapt your social media posts to reach them.
Let’s presume one of the marketing objectives is to increase revenue from social networking sites. Then your social media post should contain the link to your landing page to turn your raw visitors into paid customers.
Social networking advertising costs anywhere from $1,000 to $5,000 a month. Though the price of content is influenced by a variety of factors, including:
The more social media sites you use, the more you would expect to spend. Always keep in mind that the more social platform you utilize, the more clients you’ll be able to meet. It is, however, essential to focus on the platforms that your target audience utilizes. There’s no need to spend money on a social media site that your target demographic doesn’t use.
Posting frequency: Do you update your social media accounts once a week or many times a day? Particularly, the more frequently you update with content the more it will cost you.
Reporting/monitoring: Some content marketing firms use content analysis and evaluation in their content strategies. It helps you assess and improve your content quality to reach out to even more people. This feature is critical if you want the best possible ROI, but it also comes at a higher cost.
Ad budget: How much you’re able to spend on paid social advertising affects how many exposures you’ll get. An advertising firm will assist you in tracking your ad budget to attract the most consumers with a low budget.
Cost of research
Auditing your site will cost you anything from $5,000 to $25,000, depending on the scale and complexity of the company’s objectives. You can include the following items in a comprehensive marketing audit:
- Current web content inventory
- Planning for content and resources
- The use of social media
- Production of competitors
- Optimization of a website
- Analytical monitoring
The most critical thing to remember is what your campaign’s objectives are. You will better appreciate the nature and possible expense of a marketing campaign if you first understand the targets. There are a variety of content marketing objectives that can contribute to the company:
- Increase brand recognition
- Increase the number of visitors to your website and the number of leads you get
- Boost your revenue from online platforms
For any type of marketing approach, research is a must-do first step. You won’t be able to reliably calculate marketing KPIs, ROI, and revenue goals when implementing the technique if you don’t have it.
Cost of a strategy development
Digital solutions will range in price from $4,000 for a simple plan to $40,000 or even more for a sophisticated strategy suitable for the Fortune 500. The next move is to design the whole content marketing approach after defining the targets you want to accomplish with content marketing. It completely depends on your preparation whether you will get success or not. A digital marketing strategy involves a variety of elements, including but not limited to:
- Take stock in what you do have.
- Analyze your intended audience
- Goals and milestones to aim for
- Creating a unique content strategy for the company
The digital marketing content calendar is one of the most critical parts of this method. You can plan your content with this calendar, giving yourself enough time to study, develop, and market your content to the correct prospects.
And if you are out of inspiration, referring to your content calendar helps you to build fresh content or optimize and update current content into new and exclusive parts. Having an editorial calendar allows you to arrange the subjects that align with your audience and ensure the speed of content production is effective.
Cost of updating contents
You’ll need to regularly refresh your content to retain your ranking in Google and customize it for additional traffic or a featured snippet package.
When working for a content marketing firm, this cost is often included in the monthly fee. They will assist you in continuously monitoring your content and your rivals’ content — to introduce changes that will have the most significant impact on your market.
Writers also demand the same rate for expanding or optimizing existing material as they do for writing new content, but content upgrades will cost anything from $1,000 to $10,000.
Cost of promoting contents
Since there are so many ways to sell your content, pricing varies based on the distributor and campaign targets. The cost of creating, optimizing, and managing social media pages will range from $30 to $150 per hour.
Alternatively, you may have to put aside a $100-$1,000 campaign budget and see whether you receive some exposure and, eventually, a positive ROI for a single piece of content. It is an increasingly important part of online marketing these days, with some companies spending thousands of dollars every month to promote their content.
Once you’ve optimized your content, the next step is to promote your best content to the right platform. Message boards and forums and old-school news releases were the only means to advertise and share the material in the early days of the internet.
Today, however, social media networks such as Facebook, LinkedIn, Twitter, and others have a faster and more effective means of gaining exposure.
Getting social media pages set up and managed correctly will help you create a loyal and committed community that comments, retweets, loves, and shares your posts with their friends and family. Incorporating the company’s logo and cover photo into the platform customizations would increase trust and faith in your brand on the network.
Decide how much content do you need?
Building the ultimate FAQ using consumer queries is the perfect way to start with content marketing. But which ones, and how many are there? Use the following three-part formula:
1. What are your personas?
Think carefully, how many different types of customers do you have for your goods and services? This can be considered a persona, they must be distinct from one another, with particular needs and usage cases.
Let’s pretend you have five different personas for the sake of logic. In this case, you have to invest in a service that will produce five different types of content for your marketing campaign.
2. Do you have defined buying stages?
Define the stages of the understanding, attention, interest, sales funnel/buyers’ journey are there in your business?
If you do not acknowledge these stages then you should do it now. Follow this simple 5 buying stages and prepare your content marketing plan.
3. Do you have a set of questionnaires for consumers?
Prospective consumers must have specific questions answered, either explicitly or tangentially, to advance along the buyer’s path.
The type of questions you must ask can differ depending on when the customer is in the process. Still, in general, the questions are broader at the start and more precise at the end, as consumers are determining if you are the best option for their insurance, apps, or licorice needs.
In this guide, I tried to solve this question: how much should I charge for social media content creation? With additional information as well to guide you further.
Content is the ultimate tool to generate revenue for your business. It doesn’t matter which platform you use. Every platform needs quality and engaging content. Thus, an everlasting need for regular fresh content will continue forever.
As a content producer, your goal should be to create a pricing model that will match your competitors. Too much lower on price will reduce your revenue but increase your stress while the higher price will reduce your customer as well. Hence, try to combine it and build a pricing model.