Iron-protoporphyrin IX adsorbed on a scanning tunneling microscopy silver tip is investigated by combining surface enhancement Raman (SERS) and tunneling spectroscopies down to single molecule regime. Both the Raman signals and the tunneling current intensity reveal fast switching between the iron oxidation states and present analogous, significant fluctuations in time. The results point out the occurrence of a strong electronic coupling between the molecule and the metal, and may contribute to elucidate the dynamical phenomena at the molecule-metal interface, deserving some nanotechnological interest.