Social Media Pricing for Marketing Agencies: How to Price Right

Pricing your social media services can be tricky – based on my conversations with several agency founders, social media is a very price-sensitive service for most clients. That’s why it can be hard to measure and communicate its true value to clients, which reflects in ambiguity in the pricing. Up next, we have included some tips to get you started on how much to charge for social media management. We have also included ballpark figures for rates of social media management services based on research.

TLDR

If you’re short on time, here’s the gist:

• Regularly revisit your pricing to match market trends and client needs.
• Break down your services and understand the value each one offers.
• Choose a pricing model that fits your agency’s style, whether it’s hourly, retainer-based, or project-specific.
• Tier your packages to cater to different client budgets.
• Stay informed about your competitors’ pricing while keeping your unique selling points in focus.
• Update your pricing annually (or more often if necessary) to remain competitive and profitable.

Why you need to revisit your social media management pricing

Social media as a channel is one of the fastest-changing ones in marketing. As a marketer, I’m constantly on the edge of learning, keeping up with new platforms emerging, existing ones changing their algorithms, and new ways customers consume content. This means what drives business for your clients, and in turn, what your clients expect from you will also change fast. If your pricing doesn’t keep up, you’re at risk of losing out on revenue or overextending your resources.

For example, five years ago, price for social media management packages might have included Facebook and Instagram posts. Today, clients expect TikTok content, influencer collaborations, and analytics-driven campaigns to be part of the deal. If you’re charging the same rates as you were then, you’re likely leaving money on the table.

Yasmine Khosrowshahi, Founder & CEO of BlueTickSocial, highlights the importance of revisiting pricing frequently, especially in the early stages of an agency. "In the early years, we would review and adjust prices every couple of months," she says. "Now, with more experience and confidence in our offerings, our pricing has stabilized."

Revisiting your pricing also allows you to:

• Incorporate new services: Add trending platforms or strategies like Reels and short-form videos.
• Account for inflation: Cover increasing operational costs.
• Reflect your agency’s growth: As your expertise and portfolio expand, your pricing should too.

First, break down the social media services you provide

To price your packages effectively, start by listing every service your agency offers. Here are some common ones:

Content Creation: Writing captions, designing graphics, producing videos.

Platform Management: Scheduling posts, moderating comments, managing direct messages.

Analytics & Reporting: Monthly performance reports, tracking KPIs, and suggesting optimizations.

Paid Advertising: Running and managing ad campaigns on platforms like Facebook, Instagram, and LinkedIn.

Strategy Development: Creating content calendars, conducting competitor analyses, and defining brand voice.

Influencer Marketing: Identifying and collaborating with influencers.

For instance, BlueTickSocial provides a range of options, including retainers of 30, 50, or 70 hours for ongoing services. They also offer an à la carte menu of services like blog work and content creation, allowing smaller clients to access their expertise without committing to full packages.

"We position ourselves as an extension of your social media team," Yasmine explains, emphasizing the importance of flexibility in meeting client needs.

Operating Costs

This may include your team, office space, or any other tools/resources you will employ in providing the social media services to your clients. Some agencies use their own tools, which can be costly at times. Smaller agencies or consultants may offer discounted pricing given the clients have their own marketing tools in place.

Average Social Media Pricing for Different Services

We’ve gathered data from different sources on what agencies and consultants are charging for different types of social media services. This should give you a basic idea of rates for social media management. Remember, your pricing should depend entirely on your business costs, the value you provide, and the type of clients you work with. Don’t take any of these numbers as a hard and fast rule.

Social Strategy

The cost of social media strategy services generally depends on the complexity of the strategy and how customized it is to a business’s needs. Agencies typically charge hourly rates that range from $70 to $320, depending on factors like expertise and location. According to HubSpot, agencies with higher levels of expertise and those offering tailored strategies often charge premium rates.

Content Creation

Costs for content creation vary significantly depending on the type of content and the influencer's tier. Individual posts can cost anywhere from $40 to $500, with prices influenced by the content format (static images vs. videos) and influencer tier (nano to macro) according to estimates by CMI and SproutSocial.

Social Media Advertising

Advertising on social media can be a significant investment, especially when factoring in ad spend, which ranges widely depending on campaign goals. According to AdEspresso, Facebook ads typically cost between $0.01 and $5.47 per action, while Instagram ads can be slightly less expensive, ranging from $0.01 to $4. Management fees for ads typically range from 10% to 20% of the ad spend.

Platform Management

Platform management services generally include day-to-day handling of social media profiles, content scheduling, and community engagement. Agencies will often adjust pricing depending on the scope and size of the business. According to Buffer, these services may also include responding to follower inquiries and maintaining active interaction across multiple platforms. And the price may range anywhere between $1,000 to $5,000+ per month.

Influencer Marketing

Influencer marketing costs can vary significantly based on the influencer’s tier. According to Influencer Marketing Hub, nano-influencers typically charge between $10 and $100 per post, while macro-influencers can charge between $1,000 and $10,000 per post. For top-tier influencers (mega-influencers), the price can start at $10,000 or more per post. Later reports that costs are typically driven by audience size and engagement levels.

Social Analytics & Reporting

Social analytics services often come as part of a full-service package but can be offered separately by some agencies. Costs for these services vary based on the depth of reporting and analysis provided. Basic reports are usually more affordable, while advanced data-driven insights, such as engagement and conversion tracking, can significantly raise costs.Cost could range from $500 to several thousand dollar.

Community Management

Community management includes tasks like monitoring social media channels, engaging with followers, and managing online communities. According to Hootsuite, agencies will tailor this service to the needs of each business, with pricing often dependent on the scale and level of engagement required – from around $500 to over $5,000 monthly.

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Also check out: Top 100 social media management tools (Free & Paid)

What are some different types of pricing models you could opt for?

There’s no one-size-fits-all approach to pricing social media services. Different pricing models cater to different types of clients and agency styles. Here’s a breakdown:

1. Hourly Pricing

This model works well for smaller agencies or freelancers. You charge clients based on the hours spent on their accounts. For example, if you charge $50/hour and spend 10 hours per week managing a client’s social media, they’ll pay $500 per week.

✅Transparent and straightforward.

❌Limits scalability; clients may micromanage.

2. Retainer-Based Pricing

With retainers, clients pay a fixed monthly fee for a set scope of work. For instance, you might charge $2,000/month for content creation, scheduling, and analytics reporting.

✅Predictable income; fosters long-term relationships.

❌Requires clear boundaries to avoid scope creep.

3. Project-Based Pricing

This model is ideal for short-term campaigns or one-off projects, like launching a new product or creating a holiday content calendar. For example, you could charge $5,000 for a three-month Instagram campaign.

✅Great for specialized projects.

❌Income can be inconsistent.

4. Performance-Based Pricing

Here, your fee depends on the results you deliver, such as increased engagement or leads. For instance, you might charge $1,000 plus 10% of ad spend for a Facebook campaign.

✅Appeals to clients focused on ROI.

❌Risky if results fall short.

5. Tiered Pricing

Offer packages at different price points to cater to various budgets. For example:

• Basic Package ($1,000/month): 10 posts, 2 platforms, monthly reporting.
• Standard Package ($2,000/month): 20 posts, 3 platforms, bi-weekly reporting.
• Premium Package ($5,000/month): 30 posts, 5 platforms, weekly reporting, and strategy consultation.

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✅Covers a range of client needs.

❌Requires careful planning to ensure each tier is profitable.

Keep an eye on the competition

Understanding what other agencies charge can help you position yourself competitively. Research agencies in your niche or geographic area to get a sense of standard rates. You can also attend industry events to keep in touch with people in the same profession. However, don’t just copy their pricing; differentiate yourself by highlighting your unique strengths, whether it’s creativity, analytics expertise, or customer service.

For example, if most competitors offer content creation and posting for $1,000/month, you could charge $1,200 but include advanced analytics or free consultation calls as added value.

Yasmine also notes that managing price sensitivity is crucial, especially with smaller businesses. "You either get small businesses that say, ‘I know it’s expensive, but I can’t afford this,’ or the ones who ask, ‘Why do I have to pay this much?’" Investing time in educating clients about the value of your services can make all the difference.

How often should you revise your prices?

Pricing isn’t static. To stay competitive and profitable, revisit your rates at least once a year. However, certain factors may warrant more frequent updates:

• Market Trends: If new platforms or trends emerge, update your services and pricing accordingly.
• Client Feedback: If clients frequently question your rates, consider whether adjustments are needed.
• Operational Costs: Rising software or staffing costs may call price increases.

"In the early years, we adjusted our prices every couple of months," Yasmine recalls. "But now, with more experience, our pricing has stabilized."

Standard pricing or custom quotes?

The choice between standard pricing and custom quotes depends on your agency’s style and clientele.

Standard Pricing: Works well for small to medium-sized businesses. It simplifies the sales process and makes your services accessible.

Custom Quotes: Ideal for large enterprises with unique needs. Custom pricing allows you to account for specific requirements, such as managing multiple platforms or integrating social media with other marketing channels.

For example, even large agencies like WebFX have standard packages that clients can pick from to quickly get started with their services. BlueTickSocial also uses this hybrid model, balancing clear package options with the flexibility of tailored quotes.

The choice between standard pricing and custom quotes depends on your agency’s style and clientele.

• Standard Pricing: Works well for small to medium-sized businesses. It simplifies the sales process and makes your services accessible.
• Custom Quotes: Ideal for large enterprises with unique needs. Custom pricing allows you to account for specific requirements, such as managing multiple platforms or integrating social media with other marketing channels.

For example, large agencies like WebFX have custom quotes for enterprise clients but also offer standard packages clients can pick from their website. BlueTickSocial also uses this hybrid model, balancing clear package options with the flexibility of tailored quotes.

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I’ll leave you with this…

Pricing social media services is a dynamic process. It requires you to understand your worth, stay updated on industry trends, and remain flexible to meet client needs. Whether you choose hourly rates, retainers, or tiered packages, the key is to communicate your value clearly.

As Yasmine Khosrowshahi puts it, "We position ourselves as partners in our clients’ growth journeys." By adopting a similar mindset, you can build lasting relationships that go beyond numbers.

Remember, your pricing isn’t just a number—it’s a reflection of the expertise, effort, and results you bring to the table. Take the time to refine your approach, and you’ll not only attract the right clients but also build a sustainable, profitable agency.

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FAQs

1. How much should I charge per social media post?

The cost per post varies based on your expertise, location, and the client’s industry. For example, freelancers might charge $25-$50 per post, while agencies often charge $100-$300 per post for premium content. Posts involving video production or advanced design may command higher rates. Ensure your pricing reflects the value you bring, including strategy and audience insights.

2. What are the costs of social media?

Social media costs depend on the services provided. Basic management might start at $500/month, while comprehensive packages, including ads and analytics, can range from $2,000 to $10,000/month or more. Additional costs include tools, ad spend, and content production (e.g., videos or photo shoots).

3. How to create a social media package?

To create a package, start by listing the services you offer (e.g., content creation, analytics, and platform management). Group them into tiers based on client needs and budgets. For instance:

• Basic: Platform management + 10 posts/month ($2,000/month).
• Standard: Management + 20 posts + analytics ($5,000/month).
• Premium: Full services + ad management ($20,000/month).

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Clearly define deliverables to manage expectations and streamline your workflow.

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