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3 ways to price your packages

starting your business Jul 17, 2020

one of the challenges i faced as a newbie social media manager was figuring out what to charge for my packages. and since meeting lots of other social media managers and coaching, it's one of the bigger questions I get.

do i give the client a discount because they're paying more? 

$1500 seems like a lot to charge each month :/ 

i know you've struggled with the same issues- so here's the stress-free way to create your package prices. 

1. write down every task included in your package. don't leave anything out! 

whether it's a bigger task (writing and scheduling 25 instagram posts) or something smaller (responding to all comments on recent posts), write it down. 

2. revisit each task and decide how long it will take you to complete it. 
if you're a beginner social media manager, some of these tasks might involve learning how to complete it more efficiently. don't count time for that- only count the time as far as actual work getting done. 
for example, let's say you decide to learn about facebook ads and add that in your packages. you buy a course to learn about facebook ads and book a client for that package. the course will take 5 hours to complete and the work you do for a client will take 3 hours. you should only count 3 hours in the price. 

3. after you figure out the total number of hours it will take you to complete each task in the package, multiply that by your hourly rate. 
let's say your premium package involves 25 hours of work per month. your hourly rate is $35/hour. 25 x 35 = $875. 
you can either charge this or change it to match the line of your other packages. some choose to offer 3 types of packages, a basic, a step-up, and premium. it looks best to have these prices "match". the basic package could be $750, the step-up package could be $1150, and the premium package could be $1350. 

another tip: it's helpful to let this package price point be the only price point the client is aware of. the client doesn't have to know your hourly rate- they need to know the package price. that's it! as long as the client is satisfied and feels they're being taken care of, they shouldn't have qualms about whether you're getting paid $30 or 35 or 40 dollars an hour.

I know it's hard to keep track of all these numbers, which is why I created a tool specifically for creating package prices! Click here to join the social media manager collective, my Facebook group. After you get accepted, you'll get a free pricing calculator tool to help you find that feel-good price!

 

 

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