7 Income Streams of a Social Media Manager & Consultant

Mark Paddock
Mark Paddock Social Media Marketing Consultant and Trainer, Get Pro Social

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.

 

Mark Paddock

Mark Paddock

Social Media Marketing Consultant and Trainer, Get Pro Social

Mark is Social Media Manager, Consultant and Trainer with a funny accent (I'm told its funny) I like writing articles about my daily challenges & experiences as Social Media Professional. http://getprosocial.com
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Comments

thecommongeek
Posted on November 20th 2011 at 11:33PM

Thanks! This is a very useful article, especially since my goal is to begin working from home within the next 90 days! I am very interested in Social Media Management.

MarketMeSuite
Posted on November 21st 2011 at 7:05AM

Very useful Mark. And so excited you will be becoming a MarketMeSuite Trainer :)

~Tammy

Mark Paddock
Posted on November 21st 2011 at 6:38PM

Me to Tammy! Really looking forward to playing with version 4 of MarketMeSuite. Thats gonna be a huge help to my Social Media Business :-)

lucaleonardini
Posted on November 21st 2011 at 1:28PM

Hello Mark,

With this article you are giving me a great inspiration. I never thought about options #3 and #4.

Many thanks,

Luca

Mark Paddock
Posted on November 21st 2011 at 6:35PM

Glad the article helped Luca :-) please feel free to contact me if you need any help:-)

lucaleonardini
Posted on November 22nd 2011 at 2:56AM

Yes, Mark I have one more question.

Is there any reason why you did not mention the opportunity of setting up a G+ page or providing training on G+?

I am asking this question just to better understand the whole subject, but I am not a programmer nor a creator of FB, G+ pages and (as much as you do) I am outsourcing this type of services to a friend of mine.

Thank you in advance for your kind feedback.

Luca

moisespagan
Posted on November 21st 2011 at 5:16PM

Mark,

 

Great Ideas!  I have a realtor friend of mine that is doing #3 and 4 for free at first and is now a monthly staple at multiple learning annex events for multiple chamber of commereces.  He is cleaning up!

 

 

Mark Paddock
Posted on November 21st 2011 at 6:34PM

That doesn't suprise me my friend:-) 3 and 4 are by far my favourite methods and they are the ones that we have had most demand for in the last quarter. More and more for local government i might add.

PhillipaKiripatea
Posted on November 21st 2011 at 9:08PM

This is a fantastic article. I might have to get back in to group training in the new year.

shirleywilson
Posted on November 23rd 2011 at 10:44AM

Thanks Mark for sharing your successful services with us. I tend to get a lot of the "get the ball rolling" jobs which I really enjoy! I like the idea of offering Facebook store set up. What is your favorite e-commerce app to use for this?

 

Kris de Leon
Posted on November 27th 2011 at 2:05AM

Thanks Mark! This article gave me some great ideas on how I can build my social media business. I was feeling a bit stuck on what packages to offer and how to attract new clients. Just the inspiration I needed!

Sholem
Posted on September 10th 2013 at 5:27PM

Thanks. Awesome and to the point. I was just searching for many weeks to have a thorough understanding and breakdown of all the services I'll be able to offer as a Social Media Management and Consulting firm, and I got down to almost the exact same 7 services.

However, I noticed that you omitted the whole Auditing the current situation of the client, Establishing their aspirations and goals, Forming a Strategy to meet those Goals, and Planning out the details of impementation of the strategy. When all this is the intro to the project, then we can send Reports, and get Consults to Measure, weekly, monthy, quarterly or annually the KPIs (Key Point Indicators) how we are doing accoring to the plan, and where to improve to get better at those points.

All that can be devided in 3, 4, or more separate revenue streams. And even though some of those tasks must be done anyway, it may fall into the same category of your number 4, which gets done by lots of Pros but don't charge separately.

Any comments and/or advice?

Thanks.

Sholem