What is the best thing for adequate compensation for Social media managers?
Business Marketing with Nika
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Is it better for a social media manager to have an hourly rate or a fixed amount? Let me know your opinion. In the comments, try to write the amount that you think a Social Media Manager should receive at different levels of experience.
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Sonu@sonu_patna
The choice between an hourly rate or a fixed amount for a social media manager depends on various factors. Both options have their pros and cons.
An hourly rate can be beneficial for projects that require flexible working hours or when tasks vary in complexity. It allows for fair compensation based on the time invested. On the other hand, a fixed amount can provide stability and predictability for both the social media manager and the client, especially for long-term or ongoing projects.
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@sonu_patna I am trying to handle both systems because I like the freedom I have (I can learn many things when I am newbie in a something and paid hourly – my "learning" hours are paid). On the other hand, when I am skilled at something, and things are done quickly, the hourly rate should be very high to cover my skillset. So there would be great to set a fixed price in this case.
What's the best social post rate for nano influencers? Currently engaging with a few ahead of our July 17th Launch of the first half of our Marketplace and would love to hear your insight!
@divine_rivers1 Many social media marketing experts agree that a good engagement rate is between 1% to 5%. If you have more followers it is harder to stick to this number. I have seen many users with up to 1 000 followers with engagement higher than 5 %. But it requires so much effort to interact with them.
In my opinion, The most effective compensation for Social Media Managers would be a competitive salary combined with bonuses tied to campaign performance and growth metrics, in addition to allowing for continuous learning opportunities to keep up with the ever-evolving landscape of social media trends!
@simmons_matt99 I second that. And would maybe add to think about sensible KPIs for the bonus structure first. You are probably thinking about a SaaS business, right? Sure number of leads or free trials seems like the obvious ones, right? But how accurately can you track and attribute these? What position is social media in your buyer's journey. The last touchpoint where users sign-up? Or an assistant touch point where user hear first about your product or see it again before buying later? Then it is hard to attribute the sale to the Social Media Channel although your Social Media Manager might have done good work and played a significant role in faciliating the sale. So my advice would be to get a good grasp of your numbers first, determine how much social media as a channel is currently worth to your bottom line and how much your Social Media Manager adds to that. Cause in the end this is all that matters, the how is less important. You can often get lots of semi-engaged fans or fewer more engaged fans to get the same result for your bottom line. And that is all that matters not KPIs like followers or likes.
@simmons_matt99 @gerd_tittel_feller Yes, you are right. But it depends what is the aim of social media. Yeah, it sounds great to have KPIs (in the end, it matters the most for the company – what is the profit). But we use social media also for other things like customer support or building community/presence on social media. Do your best to be top of mind for many users when comes to searching on social media. So, a very favorite proclamation of many marketers: It depends. 😃