Why You Need To Raise Your Rates as a Social Media Manager
Feeling like you're doing the most, but your bank account isn’t reflecting it? If your rates haven’t changed in a while (or ever), it might be time to hit refresh and raise them.
Raising your rates isn’t just about making more money (but also, yes, please!). It’s about recognizing your value, scaling, and building a sustainable business. Many social media freelancers get stuck charging “starter” rates long after they’ve outgrown them, and that’s where burnout and underpayment creep in.
We have news for you, you're not a company's intern anymore! So, stop working for intern rates! You're a business owner. Your time, energy, and expertise have value! And as you add on clients, a team, and years of experience, that value GROWS. Every account you’ve run, every caption you’ve crafted, every client you’ve helped grow, those aren’t just tasks you're checking off your checklist. They are proof that you bring serious ROI! You’re far from “just a social media freelancer,” and you need to be paid like it.
We know what you’re thinking....
“What if all my clients leave?”
“What if no one thinks I’m worth it?”
“What if I seem greedy?”
These fears are 1000% normal, but they’re also rooted in mindset, not reality! The truth is, prices go up over time for almost everything, and your services aren’t immune to that.
Undercharging might feel “safe,” but it’s silently sabotaging your social media management business. When you stay too affordable for too long you get stuck with clients who undervalue your work, overworked and underpaid, capping your income potential, and you start to hate your business! And, we don’t want that for you.
If you always feel awkward about chatting about money, listen to this podcast episode next: 128. Nathalia Levterova on Mindset, Sales Strategies, & Growing a 6-Figure Marketing Agency
Here are three steps to raising your social media management rates:
Audit: What are you charging currently? How is your pricing structure set up? What is it not including? Are your expenses expanding? Ask yourself these questions and do a deep dive into what you are currently charging clients and list in your pricing guide.
Do the Math: Calculate how much time you're putting in, what your expenses are, and what your new rate should look like.
Enforce it: Let your client know that your rates are increasing, and give them time to adjust (i.e. at least 30 days before the new price goes into effect!). Confidence will come with time! No one likes talking about money in general, but try practicing language that reinforces your value, not diminishes your worth.
You don't have to go through social media management alone, come join our mentorship for social media managers, and we can go through growing pains like raising your rates, TOGETHER!