5 Essential Steps I Learned Starting My Own Social Media Agency as a Soloentrepreneur
Freelancing is a great way to start your entrepreneurial journey online especially when you are still reporting to your full-time 9 to 5. There are many types of freelancing opportunities online that you can do, but at the end of the day, it will all depend on your skill set and really where your passion is because whatever you decide to do, you will hopefully do it for a long time as you scale up.
Early on in my business journey, I actively researched the best cost effective ways to market my business. What I ended up finding was social media marketing. I had never been on social platforms other than updating my status on Facebook to engage with my friends and family. I did not even know about Instagram at the time.
Fast forward 3 years later from launching my online entrepreneurship journey, I found myself sitting as a panelist at Facebook Boost your Business event in my local town sharing with other serious entrepreneurs the power of social media marketing to promote a business.
It was at that point that I decided to venture in servicing others in creating content and social media strategies for their brand.
Here are the 5 essential steps I learned starting my own social media agency as a soloentrepreneur:
1. Build a virtual team
No. You cannot do it all by yourself. As a solopreneur wanting to freelance as a social media manager, you must plan on hiring a VA (Virtual Assistant) or 2 to support you. You can go on websites like Fiverr or Upwork to find people. I personally find Fiverr to be one of my best resources for this. Just make sure that you have a conversation with the seller before you buy the gig that way you can avoid issues of them not performing to your expectations.
2. Use a social media management tools
This is imperative for you to succeed as a social media agency. There are many social media management tools out there that you can use to run your social media agency as a solopreneur. Some are more costly than others but the one I personally love and recommend to anyone starting on their own is Loomly. I came across this platform after searching on YouTube for best social media management platforms. I am a visual person and Loomly interface is set up perfectly to do just that. The CRM (Customer Service Management) set up is excellent.
3. Establish good customer service
Thanks to Loomly, my clients are set up as collaborators in their calendar and can edit their own posting: Add caption, photos, hashtags, etc… The best is the visual element of this platform. There is no guessing for my clients. They can access their calendar on their desktop or on their phones through the App. WhatsApp is also great to communicate with clients. Voice notes are easy to do and give that attention to detail which I believe you must establish if you are serious about it.
4. Keep up with the Industry and latest trends
You do not know everything. Social media changes constantly. You must be aware of the latest trends, tools and strategies in the industry. Set Google Alerts, follow and subscribe to the Social Examiners blog and podcast. HubSpot is also great. I love listening to their podcast, reading their blogs and taking their free online trainings.
5. Set your prices and stick to it!
I had a very difficult time setting up my prices for my social media management services. I actually started very low, too low to be honest and I only know this because after outsourcing and paying for my tools, I had no profit. My suggestion is that you ensure that you add up all of your expenses first and set your price based on the value you are providing. Don’t set your prices thinking what you would pay for the service or what you think people can afford.
6. Set up your invoicing system
When I first started as a social media manager, I was using PayPal and that worked fine. I ended up migrating to Wavve invoicing because I love the customization better and the interface. Be very clear when crafting your invoice to your clients. Clarify your offer that you intend on providing including start and end date.
When you first set up your social media agency it will be a lot of work in the beginning. The majority of your time will need to be about research and development meaning what platforms will you be focusing on? Will you be designing the content, do the posting…or hire a VA to do it under your direction? However you decide to proceed, set yourself a system up front. Things will change.