Hey guys and girls
Welcome back to the making of a marketing company series where my business partner,
Kieran and I set up the latest marketing agency here in Western Australia.
My name is Jake Owens, and this is Millionaire Mindset Hub.
In this episode, we take a look at our pricing strategy that we're potentially going to be
using for our clients who're interested in social media.
Alright, let's get into it
Jake: I'm just letting you know because you keep using that example, we really can't do
$300 a month.. like that's really small..
Kieran: Yup, oh yeah I know that I'm just throwing a figure at you.
Jake: Ok good
Kieran: What they had done was they'd gone like.. they had a tick system, we do this,
we do this, we do this and then on top of that you get a $150 voucher for Facebook Ads.
That's how they did it.
How much are you expecting a monthly to be?
Jake: Like a monthly campaign price on them?
Kieran: Yeah
Jake: So, the thing is .. I'm just going to do some math. You've got $140 per week for
$20 per day which by the way is fuck all..
Times by 4 so you've got minimum, absolute minimum $560 and I would say that shouldn't
even be our minimum because we still have to take a cut out of that so they're not even
getting $20 a day.
Kieran: Yup
Jake: So with $250 per week which is $1000 per month, um.. I mean it just comes back
to the point of how much are you going to take?
Because some companies take up to 40-50%.. if we took 20%, $200 a month to do the campaign,
is that even worth it?
Kieran: No
Jake: Right, so what about $2500 like the other people you were talking about where
we take $500 for the month.. we'd have to look at these at how much time we're spending
every single week to work out how much we'd be paying ourselves. And then the $2000 would
go towards their actual campaign which would be $500 per week which is $71 per day. That's
not bad.
Kieran: Yup, I saw from the figures on that video.. so.. I don't know how much she had
it, she just had it on the generic whatever Facebook set it on was like.. I'm just giving
you this as an example I'm not saying this is what we're doing so whatever she had it
on, say $300 - $400 all up for the month
Jake: Yup
Kieran: It worked out to be like 1700 impressions roughly
Jake: Okay, so you mean they were charging people based on how many impressions that
the client would get?
Kieran: Um.. she did yeah, I don't know whether I'd want to do that or if I'd want to do per
click or even.. per click is funny, like do you want it per like, or do you want it you
know..
Jake: Well, even by saying that you'll get this many impressions that doesn't mean that
she wasn't doing a cost per click anyway, it just means that the impressions were there.
Kieran: Yeah I know, someone could have just literally scrolled past and not even noticed
it.
Jake: As you say, you have to work out what you're actually going to be basing your metrics
on because social media is so undecided on what the best metrics are.
Kieran: Yup, and it also depends on the objective of this company, do they want brand awareness,
do they want people to go onto their website.. like it depends what they want.
Jake: Exactly, which would definitely change the actual price of the campaign. So, I'm
thinking just as an idea.. $1500 per month minimum, that $1000 is $250 per week which
is $35 per day and that's $500 that we can take per month. I think that should probably
be our minimum.
Kieran: Sounds good
Jake: But we do have to work out how much time we'd actually be spending on the campaign
and base it off of that because you can't be paying out slavery wages.
Kieran: *laughing* I know right
Jake: It's just the base I'm thinking
Kieran: Yup, the other thing I was going to say is even if.. cause obviously, we're not
going to have the biggest amount of cashflow to begin with.. it's not going to be that
much to begin with right?
Jake: Definitely
Kieran: It's obviously going to build, and that's a good point about saving it first,
and I agree with this now.. I didn't at first I was like mmm but I think it should all go
back into the business obviously. But, what I was going to say was even alternatively,
I could just start off doing organic .. um..
Jake: Organic stuff so we wouldn't have to charge it
Kieran: We wouldn't have as much cost me and you, then once we grow and have got a little
bit more cashflow and a little bit more money then we can start offering campaigns and that
means you've got the primary money that you can use for the AdWords
Jake: That's actually not a bad idea, how you'd structure that is say we're a media
based company so.. well that side of the company is media based so you'd be creating content
like videos.. well probably not videos.. or maybe videos like animations.. blogs, content,
all that other crap so like a media company slash AdWords and then we'll build off from
there.
Kieran: Yeah exactly
Jake: That's actually a really good idea, I like that
Kieran: I think that's really good actually, I'll just write that down
Jake: When we get AdWords clients, I'm 100% positive that we can quite rapidly build up
cashflow. So we can very quickly move on being able to do paid social media campaigns. But
I do like that idea.
Kieran: And the other good thing with that is the fact that right now.. and I know you
learn as you go but right now for me it's quite.. almost experimental where you already
know what you're doing. So it could potentially be a waste, so I think that's probably wise.
Jake: Yeah I think that's a really good suggestion
Kieran: The other thing I was going to say to you was, and this is a later down the track
thing because you know how we discussed about graphics and all that, I do know someone who
is quite good at uni
Jake: Yeah?
Kieran: Like graphic design, visuals and all that sort of stuff. If we wanted someone later
down the line then that's a possibility as well.
I actually do have a contact that I made from Fiverr funnily enough like outside of Fiverr
who used to do my logo designs but I mean he charges more as a freelancer than.. I know
you're still a freelancer in Fiverr but he charges more outside of it. So I do have that
contact.
Yeah, I was thinking about that as you know.. something down that line especially if we
were doing brand development or anything.
Jake: Yeah definitely, definitely, definitely. It's always good to have those networks.
Hey guys and girls!
Thanks for watching :D
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inclined please feel free to hit that subscribe button and like the video.
If you've got any questions or comments or would just like to reach out and say "Hi!"
please feel free to do so in the comment section below or feel free to PM me.
Again, I really hope that you enjoyed the video and I look forward to seeing you in
the next one.
Cheers :D
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