The first thought that comes to mind when planning to work as a social media manager is “Should I go freelance, work in-house, or start my own agency”
At least, that’s what came to my own mind when I was about to start out.
Actually, scratch that, I wanted to work in-house, and I did. But I soon found out that I hated the “throes” that came with working in corporate.
So I leaped into the water of freelancing with my 2 feet because I realized that I wanted the freedom that came with it.
But the question currently on my mind is “Is that it?”
Seriously, is that all? Am I going to work with a few clients per month with me being the only person on my team for the rest of my life?
I want more. I’ve worked in corporate and done freelance, I think the nest best thing to test with my 2 feet is…you guessed it, Agency.
But this post is not about me. It’s about showing you the pros and cons of the 3 and guiding you into whatever decision you make.
So let’s take a look at freelance, in-house, or agency owner social media manager.
You can take a minute to watch it on YouTube if you want to.
FREELANCE
A freelance social media manager is a person who manages social media accounts for clients, brands, or agencies on a contract of project basis.
By agency, I mean that big agencies contract social media managers to work on certain pages of their clients on a contract basis.
As a freelance social media manager, you will work with multiple clients offering flexible services tailored to each client’s needs.
Depending on your agreement with clients, your responsibilities will include creating and scheduling content, engaging with followers, analyzing social media performance, developing strategies to grow a brand’s online presence, creating and engaging with the community, and so on.
What are the pros?
1. You’ll Enjoy Flexibility
One interesting thing about working as a freelance social media manager is this part.
You can set your own schedules and work remotely-from anywhere in the world. Here, you are your own boss and you can achieve work-life balance.
This is why many people opt for freelancing in social media management.
2. You’ll enjoy diversity
As a freelance social media manager, you are hired for your expertise on social media platforms and so, you get to work with different industries, brands, and projects.
I have worked with school owners, meat sharers, pastors, Churches, farmers, fashion designers, hair dressers, so many people and this has given me a lot of insights into many of these industries.
So when you work freelance, you’ll get to work with people across diverse industries and disciplines.
3. Control Over Your Earnings
You can decide on the price you want to charge when you are negotiating with the prospects.
And you can take on as many clients as you can handle, which provides the potential for higher earnings compared to a fix salary.
If there’s one good thing about freelancing, it has to be the fact that you get to set your own rates.
4. Creative Freedom
When I worked in-house, we were really limited to the house style.
For instance, you could not change the design template on Canva, you couldn’t use a different font for copies, you definitely were not allowed to create a new document, just make a copy of an existing one.
While it allowed the company retain structure and stability, it was stifling for us creatives. But when you work in freelance, you have the freedom to choose your approach and methods to social media.
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What are the cons?
1. You May Not Experience Stability
Unlike a full-time role, freelance work is often project-based or short-term, meaning your workload and earnings can fluctuate from month to month.
Freelancers often need to manage varying client expectations, tight deadlines, and last-minute requests, which can create stress and uncertainty.
Building a reliable client base takes time, and even then, there’s always the possibility of losing a major client, which can impact your overall workload and sense of stability.
2. You Cannot Have Deep Knowledge About Certain Things
I mentioned that I’ve worked with a number of clients across diverse fields, one thing I didn’t say was that it felt fleeting.
Once a contract ended with a client and we were not renewing, I would pack up any learning material I’ve gathered about that client and focus on the next one.
This meant that I was not getting a lot of depth and deeper insights into that field. So you will experience this too.
3. Inconsistent Income
Client work can be inconsistent, leading to income fluctuations.
Once a client terminates a contract, that’s the end of the income stream from that client.
Some days, you are smiling to the bank, other days, it’s crickets. You do not get the guaranteed salary that comes in as a full-time employee.
Also, unless you arrange for them independently, there are no benefits like retirement plans, health benefits, paid leave, 13th month, and all those things that full-time employees enjoy.
As a freelancer, you’ll also need to cover your own expenses, like software tools, internet, and sometimes advertising.
4. You May Battle with Self-Discipline
Being your own boss requires a high level of self-discipline to meet deadlines and manage your time effectively without supervision.
In-House
An in-house social media manager is someone who is employed full-time by a company to manage its social media presence.
Unlike freelancers who work with multiple clients, an in-house social media manager focuses solely on their employer’s brand, overseeing the planning, execution, and analysis of social media strategies.
They are responsible for creating content, managing social media accounts, engaging with followers, monitoring online conversations, and reporting on performance metrics.
Being in-house means that they will collaborate closely with other departments like marketing, sales, PR, etc. to align their social media efforts with broader business goals.
What are the pros?
1. Collaboration Opportunities
As an in-house social media manager, you will often collaborate closely with other departments like marketing, sales, customer service, etc. Therefore, you’ll get opportunities to develop different marketing skills or participate in cross-functional projects, broadening your expertise.
This also ensures your social media strategies are well-integrated with broader company initiatives and deliver better results, because the thing is, since you won’t be working alone, you won’t need to rack your head as much.
It also allows you to have a more intimate understanding of the brand’s mission, values, and goals, allowing you to create content that aligns perfectly with its voice and objectives.
2. Consistent Brand Voice
You have a more intimate understanding of the brand’s mission, values, and goals, allowing you to create content that aligns perfectly with its voice and objectives.
One thing that irks me about working as a freelance social media manager is that many of the brands you work with either don’t have a tone of voice for their brands or they have diluted it with time as a result of hiring different people to manage their social media pages.
But when you work in-house, especially for a company that is very particular about its online presence, you don’t have to worry about that because you just align with what is already on the ground.
3. Unlimited Access to Resources
The brand you are working with in-house will most likely want to succeed on social media right? This means that they’ll make access necessary resources available.
Most times as a freelancer, you are working with smaller brands who have a limited budget, so you do not have access to the necessary resources.
As part of a company, you have quicker access to internal resources, such as company updates, product launches, and feedback, which helps in crafting timely and relevant content.
4. Job & Income Stability
In-house roles often provide more stability and benefits like health insurance, paid time off, and career growth opportunities compared to freelance or agency work.
In-house social media managers benefit from the stability of a full-time role, including a steady salary, benefits, and a clearer career path within the company.
They also have the advantage of a deep understanding of the brand and its audience, which allows for more cohesive and long-term strategy execution.
What are the cons?
1. Heavier workload
Working in-house comes with the expectation to manage all social media tasks, from strategy to content creation and engagement.
And sometimes, help is often limited, and will lead to burnout.
Also, since you are working in-house, there’s more pressure to deliver measurable results, sometimes with unrealistic timelines.
This creates a very stressful working environment for you.
2. Less Creative Freedom
As an in-house social media manager, you’ll often have to stick closely to the brand’s guidelines and vision, which can limit creative flexibility.
You may be required to get approvals from multiple stakeholders in the company slowing down your speed and creative process.
Navigating company culture and internal politics can sometimes make implementing innovative ideas or strategies challenging, as you may face pushback from different departments.
3. Less Exposure to Trends
Compared to working in an agency, where you’re constantly exposed to different clients and industries, in-house roles may offer fewer opportunities to stay up-to-date on broader social media trends.
Also, focusing solely on one brand day in and day out could lead to a lack of excitement or enthusiasm if the work becomes repetitive.
4. Potential for Stagnation
The in-house social media management role might lack growth opportunities if the company’s social media goals remain the same.
And for corporate organizations, they remain the same for a long time.
This will limit your professional development over time.
Agency Owner
As an agency owner, instead of working for one brand (as an in-house social media manager would), you operate a business that manages social media accounts for multiple clients, often across different industries.
You are your own boss, but not only that, you are the boss of other people who come to work for you.
Many freelancers aspire to become agency owners and many in-house managers eye this possibility.
As an agency owner, your role involves leading a team of social media managers, content creators, and strategists.
You may initially start as a solo operator but eventually, you’ll be responsible for running and overseeing your agency’s overall performance and growth.
Another significant part of your job is finding and onboarding clients. Here, you’ll need to market your services, network, pitch to potential clients and build relationships.
What are the pros?
1. Revenue Growth
Unlike freelancing or in-house roles, running an agency allows you to take on multiple clients simultaneously, increasing your earning potential as your team and client base grow.
You can offer a range of services like social media management, content creation, advertising, analytics, etc. allowing for upselling and cross-selling, which helps increase revenue streams.
With the ability to scale your business and take on a larger volume of clients, you can potentially achieve higher profit margins than an influencer.
Finally, your agency will use retainer contracts with clients, ensuring a consistent and predictable monthly income.
2. Delegation
You are running a business and building a team, therefore as your agency grows, you can delegate tasks to your team, allowing you to focus on higher-level strategy and business development.
By not focusing on the day-to-day social media management tasks, you can focus on working on the business as the owner.
Also by owning an agency, you get to nurture and train a team, helping them grow their skills and empowering them to deliver results for your clients.
3. Diverse Clients Base
As the owner of a social media marketing agency, you work with clients from different industries and this provides opportunities to work on varied projects, keeping your work dynamic and interesting.
You will also get broader experience, managing accounts for businesses in various sectors expands your knowledge and expertise in different markets, making you more versatile.
4. Creative Autonomy
As the owner, you get to create and execute the vision for your agency, from choosing clients to deciding on service offerings, workflows, and branding.
You will have creative autonomy, which is more freedom to develop innovative strategies, test new social media trends, and experiment with content creation approaches that you may not have the flexibility to try in-house.
Another thing worthy of note is that you will most likely be doing this work remotely.
Many social media agencies operate virtually, allowing you and your team to work from anywhere, providing a high degree of location flexibility.
5. Brand Recognition and Influence
Running a successful social media agency can position you as an expert in the industry, boosting your personal brand and your agency’s reputation.
You can also build thought leadership by leveraging your agency’s success to engage in speaking opportunities, write industry articles, or create educational content, which can build authority in the field.
As you provide value to clients, you build long-term relationships, which not only create steady income but also lead to referrals and networking opportunities.
What are the cons?
1. Client Acquisition Challenges
Finding clients, especially in the early stages of your agency can be hard. Because competition is high, securing a steady stream of clients can be difficult.
The social media management space is crowded, leading to competition on pricing. Some agencies undercut on price, which may pressure you to reduce rates, potentially affecting profitability.
Since client contracts may be project-based or short-term, it can result in periods of inconsistent revenue, especially if you don’t have retainer agreements in place.
2. Client Management
Another con is in managing clients. Some clients may have high expectations, constant revision requests, or require hand-holding, which can strain your time and resources.
Even when you deliver results, clients may discontinue services due to budget cuts or changes in business direction, making it hard to build long-term stability.
Managing multiple clients across different industries requires adjusting strategies and communication styles, which can be overwhelming at times.
3. Scaling Difficulties
Hiring and managing a team can be challenging.
Finding the right talent, delegating tasks, and maintaining quality across all projects require strong leadership and management skills.
There are also overhead costs because as you scale and hire employees or subcontractors, overhead costs (salaries, software, tools, marketing expenses) can increase significantly, impacting your profit margins.
4. Heavy Workload
As the agency owner, you wear many hats, managing client accounts, creating content, overseeing marketing, handling finances, and more, leading to long working hours.
Balancing multiple clients and projects, while also trying to grow your business, can lead to burnout, especially if you’re doing a lot of the work yourself in the early stages.
You’re responsible for running the business beyond social media management—this includes bookkeeping, taxes, legal issues, contracts, and more, which can take time away from core client work.
Setting up systems for project management, client communication, and reporting can be tedious, but is essential for smooth operations.
5. Financial Risk
Starting an agency requires an upfront investment in software tools, marketing, and possibly hiring, with no guarantee of immediate returns.
You’ll just have to do it in faith, with a lot of bootstrapping and hoping that you catch a big break.
There’ll also be periods of unpaid invoices.
Managing late payments or chasing down clients for unpaid invoices can cause cash flow problems, affecting the day-to-day running of the agency.
Final Words
So whatever role you choose to take on, just make sure that its the one that you really want to do, you see its growth potential aligning with yours, and you want to scale.
Never compromise your identity, your values, or beliefs just to take on a role, and most importantly, don’t be driven by money.
Seek to give value to people and money will be the last thing you’ll ever need to worry about.