How to start a social media marketing business? Social media has become a venue or tool to promote products and services, but the steps and techniques in social media marketing can be overwhelming for businesses. As such, they hire someone to do it, and if you enjoy tweeting or sharing in social media, this business might be for you.
Compared to traditional advertising methods like TV ads and billboards, social media marketing is a more affordable strategy for businesses of all sizes. There are advantages and drawbacks, as well as characteristics to become a successful social media marketer. All these will pay off as you gain knowledge, strategies, and experience in this field.
How to Start a Social Media Marketing Business?
Before getting into the social media marketing business, you must already know the basic social media knowledge and the obligation to stick with it. If you decide to start this business, here are the proven steps to take as shared by successful social media marketers:
1. Build a Social Media Following
A large number of followers is nothing when these followers are not noticing your posts. You need a following that is engaged and responsive to what you posts. This means that they like, share, or comment on your posts so that you will have influence.
In order to monitor your social media following, websites such as PeerIndex, Klout, and Kred can create a solid report. Each of them can evaluate your social media activity through a score that quantifies your influence.
2. Learn Social Media
Social media continually changes so are the marketing techniques around them. You need to update yourself on these changes in order not to be left behind and develop newer tactics. It is also wise to observe people with a large following on social media and determine the kinds of post or topic that cause the users to respond.
3. Plan on the Services That You Will Offer
You can offer a start-up package that includes creating the account and giving it back to the business, or a complete package that covers everything from developing accounts, creating and posting content, and moderating the social media community.
You should also consider the kinds of businesses that you want to focus on. You might want to be a social media marketer for real estate or beauty product businesses. It is also essential to be knowledgeable in all social media platforms, but specialization in one or two can create more success for the business.
4. Develop a Business Plan
In a business plan, you sketch how your social media marketing business will work out. It includes the aims, services, assets, and liabilities, as well as the marketing strategies to contend against the competitors. It does not have to be a comprehensive plan, but it should be considered as your road map to success.
5. Identify Your Pricing Scale
The earnings of social media marketers are said to range from $31,015 to $74,738 per year with an average of $48,150. As a beginner, you can start at a reasonable minimum fee. As you gain more experience, testimonials, and referrals, you can charge a higher rate per hour or a per-package plan.
6. Name Your Business
The name of your social media marketing business will be your brand and reflect the services you offer in the market. Make sure that the name is unique and is not yet used by an existing business or trademarked by another individual.
7. Identify the Structure of Your Business
As a start-up business, you can register it under a sole proprietorship because it doesn’t need paperwork or any fee. However, since any issue can arise from social media, the client can sue you. One way to protect you from potential issues is to form a Limited Liability Company or LLC.
LLC registration requires paperwork and money, but it is worth it. It protects your assets when sue happens.
8. Acquire a Business License and Permits
Registering your business in your country or local city will give you the legitimate business registration. Depending on your place, you can do it online or in-person. You may register it under your name or create a unique business name also called the assumed name statement or “doing business as” statement.
9. Create a Marketing Plan
The first social media marketing plan that you should develop is for your own social media marketing business. Included in the marketing plan are how to get clients, build social media following, networking, and methods to gain referrals and testimonials.
10. Apply Your Plans and Form Your Social Media Marketing Business
Once you have laid out and planned everything, you can start applying them by getting your first client and providing the most effective social media services.
What Does It take to Be a Successful Social Media Manager?
You don’t need a skyrocketing educational background to be a successful social media manager. In fact, this field requires experience more than education. With hard work, patience, and thirst for knowledge and self-development, you can make your business happen.
Here are the other factors for the social media marketing business success:
- View social media as a marketing tool that aims to construct interesting information and interaction with the market and prospective clients or customers.
- Know how each social media platform works and the pros and cons of each.
- Develop social media strategies that fit the goals and wants of a particular client.
- Create posts that speak of or reflect how the prospective clients behave
- Manage various numbers and kinds of social media platforms for different clients efficiently.
- Enjoy using social media and interacting virtually with the online community.
The Business of Engaging
Just like any other business, it takes knowledge and hard work on how to start a social media marketing business. It could be challenging when starting it up, but once you build up your own social media following and engaged community, prospective clients will come up to you.
In order to be successful, you should understand how social media works and changes. You should also enjoy using the various platforms and specialize in at least a couple of social media platforms to create a more effective social media marketing plan for the prospective clients’ businesses.
Most people dream of putting up their own business. The social media marketing business might be the most suitable business for you.