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In this video tutorial, the speaker discusses the importance of having a contract as a freelance social media manager. They emphasize that a contract is essential for outlining key details like pricing, start and end dates, and cancellation terms. The speaker also mentions the process of creating the social media contract, addressing who sets it, and the necessity of tools for sending and signing it. Additionally, they plan to share a real-life example of their own contract used with clients. Overall, the video aims to provide comprehensive insights into social media management contracts.