Skip to main content
starting a social media business
5 min read

How to start a social media management business

While dealing with social media can be overwhelming for some, if you find it a doddle, then setting up your own social media management business could be for you.

Setting up as a social media manager

While there are many ways to make money from home, if you are serious about setting up your own small business, then it is important to do something which will be profitable. Since the field of social media marketing is still growing quickly, this could well be a rewarding career move for you in 2021. The overheads are minimal and it’s relatively easy to set up and offer your services. 

Here is a step-by-step guide that will take you through everything you need to know to set up your own successful social media management business.

What do social media managers do?

Social media managers don’t just post and comment on pictures. Social media management actually demands a lot of knowledge about marketing and psychology.

The main roles of a social media manager are to:

  • Create an overarching social media strategy that ties in to business objectives. 
  • Monitor and respond to brand reputation issues.
  • Influence and enhance brand recognition and reputation by sharing engaging content.
  • Network and associate with social media influencers.
  • Generate leads and sales.
social media management business

The advantages of social media management

For many people, running a social media-based business and making money from home is a dream career:

  • You’ll get paid to spend time on social media.
  • Your work has the potential to reach many.
  • You’ll always know how you’re doing.
  • You should get to be creative.

The disadvantages of social media management

However, there are pitfalls when it comes to working with mass communications and modern technology. 

  • You may get sick of social media.
  • Mistakes could go viral.
  • You will have to deal with negative feedback. 
  • It can be hard to switch off from work.

How to start a social media management business

Before marketing yourself as a social media manager, you will need to ensure that you understand how to use social media for marketing. For this reason, it is recommended to do some thorough research and even undertake a social media marketing course first. 

  • Know the various platforms

    Twitter. Facebook. Instagram. LinkedIn. TikTok. Snapchat. Each of the main social media platforms are used in different ways and are suited to different marketing objectives. You’ll need to know how to maximise marketing opportunities across different platforms and have an in-depth understanding of the full range of features – such as analytics and reporting. 

  • Develop strategies that match the clients goals

    Every business will have its own target audience, and you will have to adapt your marketing strategy accordingly. The most important thing for working with clients is to ensure that you can adopt their tone when speaking to their audience. 

  • Build a following

    As a social media manager, you will need to be able to build strong followings for your clients. This doesn’t just mean growing the number of people the content reaches; instead, it means growing the number of people who engage with the content and respond to it.

  • Decide what services to offer

    As with any freelance business, it is important to set clear boundaries for clients, so they know what to expect from you and how much they will pay. You may want to offer fixed prices for different services or offer a comprehensive package. For example, you may want to charge individual rates for each social media account you manage. Make sure you only offer services that you can deliver on.

  • Identify a niche

    Identifying your niche, such as fashion or finance, will help you to define the services you will offer and market yourself to desirable clients. It will also help you to feel more organised and cut down on your work stress. Alternatively, you might decide that you’re going to focus on a specific social media platform and channel your efforts into being the best at, for example, TikTok.

  • Create a business plan

    Having a solid business plan is necessary for any business owner who is serious about making a success of things. As tedious as this process may seem, it will help you to consolidate important things such as how you will keep your business competitive.

  • Choose a pricing structure

    Your pricing structure will have a massive impact on your profits. As a new business, you may have to accept that higher pay will come with experience and proven success. However, it is important that you do not charge too little as this may inadvertently lead to potential clients to mistrusting you. Have a look at what other similar new business are asking for and consider how you can offer something more for the same price.

  • Decide on a business name

    A business name should be professional and reflect the services you will offer. It should also appeal to your niche market. You’ll also want name that you can secure a website domain for. 

  • Choose a legal structure

    You’ll need to determine whether you set up as a sole trader or a limited company. Setting up a sole trader is generally quicker and easier to do, and makes sense if you’re not turning over huge amounts. 

  • Develop a marketing plan

    The best way you can test your skills is to run a successful marketing campaign for yourself to attract clients to your new business.

End of Article
Share this content

Brought to you by:

AAT Business Finance Basics

AAT Business Finance Basics are a series of online e-learning courses covering the core financial skills every business needs. They draw from AAT’s world-leading qualifications and will quickly build your knowledge on key topics including bookkeeping, budgeting and cash flow.

Visit partner's website

Register with Informi today:

  • Join over 30,000 like-minded business professionals.
  • Create your own personalised account with curated reading lists and checklists.
  • Access exclusive resources including business plans, templates, and tax calculators.
  • Receive the latest business advice and insights from Informi.
  • Join in the discussion through the comments section.