What is Digital Marketing and How Much Does It Cost?
Digital marketing services are typically billed in one or more of three ways: hourly rates, project-specific prices, and monthly retainers. Most businesses will pay between $90 to $250 for hourly services or $3,500 to $10,000/month per project.
Digital marketing will account for 55% of total ad spend in 2021. This 12.0% increase is why businesses, big and small, are moving towards larger digital marketing budgets.
Learn more about digital marketing and the costs of each technique here:
Digital Marketing Defined
Digital marketing grows your business through online marketing and advertising strategies. By using the internet, mobile devices, social media, search engines, and more, you are marketing digitally.
There is a constant change and evolution of modern technology that should be kept up with. Businesses should include digital marketing as one of their techniques because of how times have changed.
Benefits of Digital Marketing
Digital marketing has become a popular form of advertising. This has a lot to do with how times have changed, but there are also a lot of benefits. Some benefits include:
- It’s the most powerful form of marketing.
- It is the most measurable form of marketing.
- Digital marketing can target your ideal audience easier.
- Most people begin their buyer’s journey online.
- Consumers are on social media and can be reached with digital marketing.
- It can help you connect with mobile customers.
- You can easily and quickly adapt your strategy for the best results.
- It is the most cost-effective way to market a business.
Perhaps one of the best benefits of digital marketing is that it is cost-effective. You spend less money and get better results. But, how much does digital marketing cost?
Typical Costs of Digital Marketing
The average digital marketing cost ranges from $35,000 to $145,000 per year. Most businesses will pay $90 to $250 for hourly services or $3,500 to $10,000 for monthly services. You can also pay per project which will cost around $4,500 to $7,000.
When it comes to budgeting, price comparison is key. Each company should set a reasonable budget within their price range. Several factors will influence a digital marketing budget, including how big or small the company is.
If your range is low, you are going to get low-quality digital marketing. You get what you pay for.
Putting some extra money into the digital marketing budget is not a bad idea. With how popular this form of marketing has become, it can bring great results.
Digital marketing is an ongoing strategy. Be open to the budget changing as you grow.
There are different types of digital marketing techniques and each type has a different price range. Some digital marketing techniques that will be included in this article are listed here:
- Pay Per Click Management
- Social Media Advertising
- Organic SEO
- Content Creation
- Link Building
- Email Marketing
- Website Design
- Video Marketing
Pay Per Click Management Cost
Pay per click (PPC) advertising includes a broad variety of things, but it mostly comes from Google ads. Other PPC options include search ads, local search ads, display networks, pre-roll ads, remarketing or retargeting, and social PPC ads.
The typical fee for PPC management ranges between 15% – 20% of your total ad spend, with a minimum monthly spend of $500.
When using the PPC strategy, you will pay Google an amount to have them list ads for your site at the top of the search listings. When the ad is clicked on, you will pay the Cost Per Click (CPC) from the budget. You can put however much you want into the budget and when it runs out, the ads won’t run until more money is added.
PPC MANAGEMENT SERVICE LIST:
- Keyword research
- Ad Creation
- Set up on Google & Bing Networks
- Bid Management
- A/B Conversion Testing
The cost of pay per click management ranges depending on several factors. On PPC platforms, the more narrow your audience is, the more expensive the CPC will be.
Keywords are also a big part of the cost. Keywords can cost as little as $0.05 per click or cost as much as $60 per click. On Google, most companies have an average CPC of $2 to $3.
Social Media Advertising Cost
Social media advertising is online advertising through social media channels. It includes things like Facebook retargeting, LinkedIn, Twitter, and More. Advertisers must “search” for users with this technique.
SOCIAL MEDIA MARKETING SERVICE LIST:
- Brand development
- Identifying target customers
- Setting objectives
- Design and Content Strategy
- Engagement Strategy
- Conversion strategy
The average cost of social media advertising can be anywhere from $25 to $350 per day. You can also pay monthly in which the costs would be around $600 to $10,500 per month.
This average amount is the cost of social media advertising on multiple platforms and other expenses. Each social media network has a slightly different cost.
Organic SEO Cost
Organic search engine optimization (SEO) optimizes website copy and HTML to make your website rank higher on search engines. This allows consumers to find your business with ease and quickness.
ORGANIC SEO SERVICE LIST:
- Keyword research
- Competitive gap analysis
- Link building
- Content creation and optimization
- On-Page Optimization
SEO services can be different which can affect the cost. The cost will vary based on what is included.
In 2021, most organic SEO costs between $1,950 to $5,000 per month. The number will be based on how big the project is.
A one-time project can cost anywhere from $5,000 to $30,000. SEO consultants charge hourly rates that can be $90 to $200.
Content Creation Cost
Content creation is most especially geared towards digital marketing. It is the contribution of information to digital media for an end-user/audience in specific contexts. 84% of people expect brands to create content.
CONTENT CREATION SERVICE LIST:
- Graphic design
- Blogging, video, email, e-books, etc
- White paper marketing
- Article writing
Content creation has a large range of costs. Because of so many varying factors, content creation can cost anywhere from $150 to $3,000. The cost usually includes edits, feedback, implementation of feedback, and more.
Some factors affecting the cost include how large the project is, what platforms the content is created for, the amount of time spent on it, etc.
Link Building Cost
Link building involves getting other websites to link back to your site. This is a tactic most often used in SEO. To Google, links mean your site is quality and can be used as a relevant resource.
LINK BUILDING SERVICE LIST:
- Local Citations
- Press Releases
- Guest posting
- Social media links
- Content syndication
Link building can also have a huge cost range because of varying factors. This cost can be anywhere from $300 to $20,000 per month. The varying factors include quality and volume.
Other options for link building include buying a link outright. This can cost around $400 on average. You can also pay someone to build links for you which could cost you up to $50 an hour.
Email Marketing Cost
Email marketing can be used as a more personalized form of digital marketing. This technique allows you to put your customers into lists based on what they like.
EMAIL MARKETING SERVICE LIST:
- List management
- Landing page creation
- Market research
- Brand identity
- Marketing automation
You can write the perfect subject line to draw in your customers and drive engagement. Emails with personalized subject lines are 26% more likely to be opened.
In general, the service cost for email marketing is around $350 to $5,000 per month. You can also pay per email. The costs per email range from $0.10 to $0.50.
Website Design Cost
Website design is exactly what it sounds like, creating, and designing websites. Website design is an important part of digital marketing because having an appealing website will draw more people in.
Website design is one of the more costly types of digital marketing because of all of the aspects it entails. These aspects include webpage layout, content production, graphic design, and more.
WEBSITE DESIGN SERVICE LIST:
- Hosting support
- Responsive design & development
- Custom contact forms
- shopping cart integration
- Image header slides
- Video embedding
Generally, website design can cost anywhere between $2,800 to $30,000. This huge range depends on what the company wants and how much detail is necessary.
Video Marketing Cost
82% of consumer internet traffic will be video by 2021. This form of digital marketing is one that every business should be jumping on.
VIDEO MARKETING SERVICE LIST:
- Animation services
- On-location shoots
- Studio production
- Vox Pops
- Explainer videos
- Video testimonials
- Video Blogs
- Event coverage
Video marketing can be one of the more cost-efficient digital marketing strategies because videos can be made on just smartphones these days. In-house solutions can be less than $5,000, usually, the cost depends on the equipment used.
Outsourcing video marketing production can cost between $1,200 to $48,000. This depends on how basic or premium you want the video to be.
The decision to use in-house videos or outsource video marketing will often depend on what the objectives of the video are.
Top Marketing Agencies
Marketing agencies are great services that can help your digital marketing grow. They can provide specific digital marketing strategies for your business.
You may be thinking, “what is a digital marketing strategy?” Well, it is a plan that can help your business achieve specific digital goals through careful selection of online marketing channels.
Digital marketing agencies know what they are doing and know what is best for your campaigns. They can perform social media audits to create a strategy for your specific brand. Your budget will be spent well because they can create campaigns that target the preferred audience.
Marketing agencies will even take your competitors into account to evaluate how you can stand out. A team of experts will work to help you grow your brand.
Here are some specific things you should be looking for when choosing a marketing agency:
- They should provide a clear solution to your problem.
- They will help you understand the pricing models of social media marketing agencies.
- You should evaluate the talent at the company.
- Check for the agency’s experience in digital marketing.
- Check on the client experience for the agency.
- Can they provide long-term compatibility?
- Check for the average contract lengths.
If digital marketing has sparked your interest, you could consider working with a top marketing agency. Here are the top 5 companies to work with:
1. LYFE Marketing
LYFE Marketing is a full-service social media management service. They can transform your social media presence with high-quality content, daily activity, and an increase of followers.
Location: 50 Hurt Plaza SE #260, Atlanta, GA 30303
The social media advertising services that they can provide are cost-effective and are proven to accelerate growth. Other digital marketing services that they provide include:
- Email and SMS Marketing
- Search Engine Optimization (SEO)
- Google Ad and PPC Management
- Website and Graphic Design
- Consulting and Coaching
- Video Production and Photography
- Content Writing
2. Disruptive Advertising
Disruptive advertising is an award-winning service that works to make the most out of your digital marketing campaigns. They offer PPC management and other digital marketing tools.
Location: 384 S 400 W #200, Lindon, UT 84042
76% of Google and Facebook budgets are wasted. This is where Disruptive Advertising comes in. Their experts and software can provide you with ways to fix this problem.
They believe in three specific digital marketing techniques that can help your business grow faster. These techniques include:
- AdWords and Facebook Ads
- Site Experience Testing
- Analytics Reporting
Boostability is an award-winning marketing company that specifies in SEO. They work best with small businesses to help them grow.
Location: 2600 Ashton Blvd, Suite 300, Lehi, UT 8404
Along with SEO, Boostability can work with you on website services, such as mobile web design, local search marketing, website content, link building, and more.
Their goal is to provide effective and affordable online marketing solutions. They work closely with clients to meet all online marketing needs.
Brands can look forward to getting help on different aspects of their digital marketing with SociallyIn. They can provide result-driven services with social strategy, content production, community engagement, paid social advertising, influencer marketing, and more.
Location: 1500 1st Avenue North Ste. F104, Unit 26, Birmingham, AL 35203
They have social media consultants who constantly explore new tactics based on what the world is going through. Technology has so many changes that marketing agencies need to keep up.
Their values include never-ending learning, speed, creativity, and passion. These things can help your business reach a profit.
5. Bad Rhino
Bad Rhino is a full-service social media marketing agency with local, national, and global clients. Their award-winning team is filled with leading social media marketing managers ready to bring your business successful results.
Location: 239 E Market St #203, West Chester, PA 19382
Bad Rhino has a social media process that they customize for each client they work for. The process goes like this:
- Social Media Audit
- Content Creation and Approval
- Community Recruitment
- Strategy Evolution
- Identifying Key Strategies
- Monthly Analytics
The Numbers Don’t Lie
The numbers don’t lie when it comes to digital marketing. This huge trend in business is one your company needs to hop on.
Digitally, the world is only going to progress. The best way to be prepared for the next steps is to be on top of it already.
Your company should have a digital marketing budget that fits your business, and the costs of each technique should be taken into consideration. Get a digital marketing service quote today!
Digital Marketing / SEO Sample Costs
Below are a few examples of price facts for Internet Marketing services that will give you an idea of how much you will pay for your purchase.
- Local SEO services cost between $1,300 – $4,000 per month. Local search includes businesses like attorneys, plumbers, car dealerships, and real estate firms.
- Companies attempting to rank nationally for competitive search terms like “mortgage loans” or “auto insurance” will invest from $8,600 to $20,000 per month.
- Paid search management (a/k/a pay-per-click, sponsored ads, PPC) will cost between 15% – 25% of your monthly spend or a minimum of $500 a month if spend is minimal.
Related Industry Terms: PPC, Search Marketing, SEO, Internet Advertising, Search Engine Optimization, Link Building, Content Creations, Blogs, Online, Agency, E-Commerce
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