Social media marketing is all the rage today, and businesses are willing to pay very well for this service. Many who have these skills take them for granted. They have no idea how much money they could be making by offering them to corporate America.
How Much Do Social Media Consultants Earn?
According to simply hired, a leading job search site, the average salary in this niche $55,000. But get this, consultants in the field earn much more. Proof?
[the website jobs.readwriteweb.com cannot be found], a leading blog renown for offering in-depth analysis about the daily happenings in the tech world, surveyed some leading bloggers and social media (SM) consultants and guess what, NONE of them were earning less than $150 per hour for consulting. In fact, the average rate was around $300 per hour.
And, some commanded fees of $2,000- $4,000 for just 20-40 hours worth of work. (Source: Article on ReadWriteWeb website entitled, How Much Do Top Tier Bloggers and Social Media Consultants Get Paid? We Asked Them!)
So, now that you know that it's possible to earn this much in this niche, how do you go about making it happen? Following are three key elements that must be present.
Starting a Social Media Business? Here's How to Ensure You Earn the Industry Average of $100-$300 Per Hour
1. Assess Your Skills in This Area: You probably know much more about this niche than you think. If you use Twitter, are active in groups on LinkedIn and know how to maneuver on Facebook, chances are you have the skills to be a SM consultant.
Note: Businesses expect results from this medium. So, just because you "play around" on sites like the ones mentioned above does not mean that you know how to get results. But, with a few tools and the right advice, it's so simple to learn you'd be amazed that businesses are willing to pay you for it.
2. Price Your Services Right. As a social media consultant, you can charge as much or as little as you want.
One expert in this area reported being so busy charging "just $125 per hour" that she raised her rates to lower her client load. She went on to note that many of her colleagues in this niche started offering workshops to businesses because they couldn't possibly handle all the clients soliciting their services.
Not only did this add an extra revenue stream to their business, it allowed them to bring on more "qualified," higher-paying clients.
3. Outsource the Actual Work: Via sites like Elance and Guru, you can find qualified talent to do the actual work, while you market for more clients.
Freelance or Want to Work-from-Home for a Living? Why Recognizing a Niche Can Catapult You into a High-Paying Career Quickly
A few years ago, phrases like "SEO content," "backlinks" and "content marketing" were so new, that only industry insiders knew what was being talked about. Now, phrases like this are part of every online marketer's vernacular.
And, freelance writers who were savvy enough to spot the trend capitalized; I know, I'm one of them. Many SEO writers who were struggling just a few years ago now make hundreds per day and have teams of writers under them because they recognized that SEO writing was a needed service and that businesses were willing to pay well for it - if you knew how to market to them.
Well, social media marketing has now reached this point. It's those who are forward-thinking enough to recognize the trend and jump on it who will reap the benefits in a year, three years and five years.
Social media consultants are highly paid, highly sought after professionals these days. There's never been a better time to start this career.
Yuwanda Black heads New Media Words, an SEO writing company that offers SM services. She is the co-author of the ebook, The Social Media Marketing Bible for Freelance Writers. The ebook details how social media consultants earn on average $200-$300 per hour, and tells you how to start commanding these fees in just a few short weeks.