Digital Marketing Pricing Packages
In this guide, you will get to know everything you need to know about different digital marketing pricing packages.
Digital marketing can help your business thrive, but you don’t want to invest in an overpriced digital marketing agency.
But, keep in mind that the ultimate pricing will depend on the agency. This article is based on general research so that you don’t pay more than you have to.
Let’s get started.
What is Digital Marketing? Quick Recap
Digital marketing is an online marketing strategy that can help a business establish a solid web presence and achieve its goals.
These strategies can range from search engine optimization to pay-per-click ads.
Traditional marketing includes:
- Direct mail
Although the ultimate goal of digital marketing is the same, it’s different from traditional marketing in several ways.
If you were to find one key difference, it would be this:
Digital marketing is much more cost-effective than traditional marketing. There are so many internet users around the globe and so many digital platforms that provide direct access to them.
These platforms don’t only make accessing a target audience easy, but they also make it inexpensive.
This means no matter the size of your business, there is an effective way to market it.
Digital marketing strategies include:
- Search engine optimization
- Search engine ads
- Social media marketing
- Email marketing
- Content marketing
- Video marketing
- Voice marketing
That said, as a business, you don’t need to invest in all of those strategies. Your marketing expenditure depends on several factors.
How Much Should You Spend on Digital Marketing Services?
No matter the size of your business, you need to have a good idea about your digital marketing expenditure before working with an agency.
Unfortunately, I can’t list a universal digital marketing pricing table as the ultimate pricing depends on the agency, nature of work, and your business goals.
But, what I can do is, provide the right information so that you don’t pay more than you have to.
It’s important to note that as far as digital marketing services are concerned, you get what you pay for, in most cases.
So, if a company is offering something at prices that seem too good to be true, they likely are.
This is why you want to have a decent marketing budget before you reach out to a professional.
Going with the cheapest option at your disposal can do more harm than good, unfortunately.
So, how much budget is reasonable?
Well, several factors determine that, but it can range anywhere from $30,000 to $145000/year. And, that’s for small and medium businesses.
Here is another thing to keep in mind: Digital marketing is an evolving strategy, so your budget might also change as your business grows.
Digital Marketing Pricing Models
There are essentially three pricing models. And, the model a company offers also has an impact on the overall pricing.
Let’s take a look at them individually.
You pay a monthly fee when you opt for the monthly pricing model with a digital marketing agency.
You can expect to pay a monthly fee to a digital marketing agency when you intend to work with them in the long run.
Generally, a monthly digital marketing pricing package starts anywhere from $2500.
You will have to pay hourly mostly when working with freelancers or consultants. Some agencies may also charge hourly depending on your agreement with them.
Generally, you can expect to pay north of $50 per hour depending on your service provider.
With the project-based pricing model, you pay a flat fee for the services of a digital marketing agency.
Agencies, consultants, and freelancers offer project-based packages.
Estimating the price of this package can be tricky as it depends a lot on your requirements.
But, it can cost in the range of $1000 – $7500 when you are working with an agency. Freelancers and consultants will be more cost-effective options here.
Again, these are just estimates; no one can tell you the exact cost of a digital marketing project before analyzing it thoroughly.
Factors Affecting Digital Marketing Pricing Packages
Digital marketing pricing packages depend on several factors.
Experience of the Agency
The experience of a digital marketing agency is the first thing you want to look at before working with them.
If they have the relevant experience, portfolio, and case studies, they are probably the right fit for your business.
But, you also need to take into consideration your budget as more experienced agencies tend to charge more.
That said, it doesn’t mean that an agency with years of experience can cost an arm and a leg. And, even an inexperienced digital marketing agency with a skillful team can help your business grow.
So, the experience shouldn’t be the only thing you need to take into account.
Your Business’s Size
Another important factor that affects your overall digital marketing budget is your company’s size.
If you are an SMB, your marketing expenditure will be less than that of a multi-national corporation.
Your business’s size also determines the type of agency you work with. Plus, it’s a good idea to work with an agency that can serve a business of your size efficiently.
The Digital Marketing Strategy
The type of digital marketing strategy has a major influence on your budget. For instance, an aggressive pay-per-click campaign would cost more than an email marketing campaign.
This is mainly because PPC advertising requires aggressive upfront investment in most cases.
Moreover, your marketing expenditure increases when you want to invest in multiple digital marketing strategies.
Another factor that decides the price of a digital marketing agency is the number of services they offer.
So, if you are looking for an agency that offers all-in-one services, of course, you would have to invest more.
But, this eliminates the need for investing in any other service as all your needs are taken care of in one place.
The time in which you need a company to do a specific job also affects how much you pay them.
A smaller timeline demands a larger investment and an easy timeline generally costs less.
Unique Selling Point
Most digital marketing agencies promise the same stuff, but what if a company has something unique to offer?
Would you be willing to pay extra to get a special benefit your competitors are not getting?
If yes, a USP of an agency can also play a part in their pricing packages.
What to Look for?
So, what you should be looking for when researching digital marketing costs?
There are three main factors to keep in mind here:
You don’t want to invest in a digital marketing agency without knowing what you are actually paying for.
So, ask them about their deliverables; if they are vague about it, you don’t want to work with them.
Many digital marketing agencies don’t tell their full prices upfront, which can easily lead to hidden charges and overpriced quotes.
You want to make sure your agency is completely transparent about its digital marketing pricing packages.
Businesses are tempted to work with agencies that offer the same solution to all businesses at cheap rates.
But, that can’t get you the ROI your business deserves. You need to approach digital marketing according to your business goals.
This means, your agency should take a look at your business’s current position and come up with a personalized strategy to help you achieve your goals.
Types of Digital Marketing Services
You can’t afford to not know about the digital marketing services on offer when you are trying to learn about their pricing packages.
Let’s talk about a few of the most important digital marketing services that you might need to invest in.
Search Engine Optimization
More and more people are searching for answers and solutions on search engines like Google. According to Statista, Google processes 115 billion searches in a single month.
What this means is: Your target audience is looking for businesses like yours and you want to get in front of them.
SEO is the only organic way to present your brand or products to the people that are using Google to find answers.
But, of course, you need to have a professional website before you can even think of putting it in front of a Google audience.
Search engine optimization is a service that helps you rank on the first page of Google for relevant search queries.
For instance, if you are a business selling kids’ shoes, you might want to rank on the first page for queries like:
- Best winter boots for kids
- Comfortable shoes for toddlers
If you want to use SEO services, (which you should), you may have to pay anywhere from $300 to around $2000 per month.
The price tends to go down when you are working with an individual, such as a freelancer or a consultant.
PPC is another popular digital marketing strategy that you should be using if you have the budget for it.
It helps you attract your target customers to your website through search engines like Google.
Although PPC campaigns require an upfront investment, done right, they can be pretty cost-effective.
This is mainly because you are only paying for clicks. And, when you target the right audience, those clicks can easily translate to conversions.
Search engine pay-per-click ads appear just above the organic search results as shown in the image below.
You can expect to get a high return-on-investment with PPC ads, somewhere around $8 when you invest in Google ads.
Your PPC investment will depend on what you want to achieve with the strategy. As a small-and-medium business, you may want to set aside a budget of around $9000/month for PPC campaigns.
Content marketing revolves around using content to generate leads and convert them into paying customers.
This form of marketing has an incredibly high return on investment, but you do need to put in the time and effort to generate results.
Done right, content marketing can help you build your brand’s awareness and conversions.
The content can be anything from articles to blog posts to infographics. Any content that can add value to prospects’ lives.
This is an ongoing, long-term strategy, so you would be investing in it constantly, which makes working with a reputable agency important.
On average, high-quality content marketing services might cost you anything from $1000 to $20,000 per month.
The rates can increase depending on the amount of content.
Social Media Marketing
There are over 3.6 billion active social media users worldwide, which makes social media an incredibly effective marketing medium.
Mostly, businesses use social media to improve their brand awareness, loyalty, and digital presence. All that helps you generate more conversions for your business.
Social media marketing is so effective because it helps brands connect with their target audience on a more personal level.
Luckily, getting started with social media marketing is free. But, if you want to work with an experienced agency, you can expect to pay anything between $900 and $20000.
Email marketing is, without a doubt, one of the most cost-effective digital marketing strategies out there.
Like any other digital marketing strategy, the end goal of email marketing is conversions. To achieve that, this strategy helps you build a trust-based bond with your audience first.
This puts email marketing on the list of long-term digital marketing strategies.
The best thing is: Email marketing generates an incredible ROI of $36 for every $1 spend, which is the highest among all the digital marketing strategies.
But, of course, to get that kind of return, you would need to work with a credible digital marketing agency.
Another great thing about email marketing is that you can use other strategies with it.
For instance, you could send out an email to your subscribers whenever you publish a new blog post.
Email marketing is an ongoing strategy and you might have to set aside a budget between $300 and $3000 per month for it.
Voice Search Optimization
Voice search is growing in popularity as it can be a lot more user-friendly depending on the situation.
For instance, someone on their mobile phone wants to search for a long-form query.
If they had a choice, they would choose voice search.
Plus, voice assistants like Siri and Alexa give answers to voice-search queries from featured snippets.
So, if you want to get in front of an audience that’s using their voice on Google, you would have to rank as a featured snippet.
This is a relatively new digital marketing strategy. The pricing packages for such services can be from $500 to $2000.
The popularity of video content makes video marketing an important digital marketing strategy for businesses.
Like content marketing, video marketing uses great content to attract, retain, and convert a target audience.
Video marketing can help you build brand awareness and boost conversions.
You can also use video marketing to complement other strategies. For instance, embedding videos on your blog posts.
However, although it tends to work incredibly, video marketing can cost more. You can expect to spend between $1200 and $50000 on video marketing campaigns.
But, if you can get your own video production and editing software, you could reduce the overall price.
AI video creators are proving to be really promising as well.
A professional website is the most important representation of your business. But, many business owners don’t realize that.
Your website’s design doesn’t only affect the user experience but also impacts your searchengine rankings.
So, investing in web design services can help you improve your ROI significantly.
The good thing is: Web design isn’t an ongoing investment; it’s mainly a one-time thing.
But, you do need to have a check on how your design is performing and have your service provider make the necessary tweaks.
The pricing of a website design depends on whether you want a custom website or a customizable website.
A custom website costs a lot more as it requires major input from a web developer as well.
But, there is a more cost-effective solution. Content management systems like WordPress let you create a website with drag-and-drop visual builders, which can be a much cheaper alternative.
So, the pricing range of this digital marketing service is pretty broad; it can be between $300 and $15000.
This was all about digital marketing pricing packages. There are several digital marketing strategies that you might need to invest in separately.
But, you could just go with an all-in-one package and have a digital marketing agency take care of every task for you.
But, of course, you need to have enough budget for that.
We’ve talked about different digital marketing strategies and how much you should expect to pay for them.
That said, it’s important to keep in mind that the ultimate price of a service would depend on several factors.
- The experience of the agency
- Your marketing goals
- The size of your business
- Services you need
- Your timeline
- Your strategy
So, make sure to keep all of that in mind so that you can invest in the right digital marketing pricing packages.