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7 Income Streams of a Social Media Manager & Consultant
Posted on November 20th 2011
Not 1 . . .Not 2 . . . but 7! There's even more than that available but I just thought I would tell you about 7 possible income streams you can benefit from as a Social Media Manager & Consultant. Jobs in Social Media have never been so abundant. Right now with the world economy the way it is businesses are increasingly turning their backs on high cost traditional marketing techniques like print which are down by almost 15% from 2 years ago.
Companies in 2011 and 2012 are actively looking toward cost effective ways of increasing awareness and driving custom into their businesses i.e.Social Media. Social Media Managers and Consultants are in such high demand that 69% of UK businesses ALONE intend to take on a Social Media Community Manager in the next 12 months.
Though Its the freelance Social Media Manager & Consultants that financially benefit the most from the awakening of the business world to the necessity of Social Media. Here are 8 that I personally can enjoy now but are easily available to any Social Media professional.
1. Social Media Management -
In 2010 65% of companies kept Social Media management in house. in 2011that figure dropped to 54%. Its due to drop again in 2012 indicating that the OUTSOURCING of social media management to 3rd party Social Media Managers is increasing significantly. I myself charge between $500- $2000per month/ per client for Social Media Management dependant on which"Service Package" they choose.
2. Social Media Consulting-
Again Social Media Consulting is in incredibly high demand. Social Media Consultants can typically charge $150 - $300 per hour for SM Consulting Services. With developments in Social Media moving so quickly companies need to stay on the cutting edge in order to stay competitive. To give you an example I recently delivered my consultancy services to Crowne Plaza Hotels and advised them on what they SHOULD be doing - I didn't even have to actually do the work myself! you can see the what I advised here.
3. Delivering Social Media Training-
Literally my favourite income stream from Social Media. This is a way for you to earn a months salary in one day. Put on a Social Media seminar for local businesses and charge each delegate for attendance. What works well is to put on a short seminar and make it free then use that seminar to sell the spaces on your paid seminar.
4. LinkedIn Training-
Again, in the same way as with Social Media Training you can make 1 months income in 1 day by delivering LinkedIn training. This service is in high demand for this is from companies who want their entire sales team/marketing team/ fee earners or work force to be fully trained in how to use LinkedIn. For example I recently trained the lawyers and fee earners from a large legal firm on how to build reputations as "experts" in sectors like family law, criminal law and personal injury and then how to market their services using the LinkedIn platform. use can charge per delegate or charge for your time. Either way LinkedIn training is a great income stream.
5. Social Media "Get The Ball Rolling" Packages -
Some clients want to take ownership of their Social Media but simply don't know where to start. A good package to offer in this situation is a "Get The Ball Rolling" package in which you would simply set up the clients social media platforms i.e. Facebook Fan Page with relevant apps already uploaded, Twitter profile set up with a custom back round and integrated into the Fb page plus the first 3 months of management finishing with training seminar for the client so they may take over.
6. Facebook Store Setup -
For retail businesses it still baffles me why they do not have Facebook stores. Regardless of what business you are in or who your customers are,they're on Facebook! So why businesses dont give their customers the option to "buy now" while they are still interacting with the company Fbpage? By approaching retail businesses and offering to get them fully setup with a Facebook store is one of the easiest ways of getting new clients and opening the doors to more opportunity to do business.
7. Facebook Page Design-
OK, I have a confession to make. I am not a very good Fb Page Designer. I'm OK with HTML and installing Iframes but to be honest I outsource the design work. Purely because I want my clients to have the best possible result but we still charge a fee as out page design is always part of a wider campaign.