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Nika

What is the best thing for adequate compensation for Social media managers?

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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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Matthew Simmons
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!
Gerd Tittel-Feller
@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.
Sonu
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.
Divine Rivers
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!