Many big businesses and companies take help of guides which suggests the fees for a digital marketing service based on current market trends and still don’t seem to know the suitable pay exactly. Such guides help the owner to get detailed insights about the actual costs of running a marketing agency which helps them evaluate and decide the pay, also based on the types of results one can expect.
In today’s world, digital marketing is much more effective than the traditional media tools such as print, TV and radio advertisements and direct mails. Many companies are adopting this practice to spur their business.
In this blog, you can get an idea of How Much to Pay for Digital Marketing Services and the criteria to assess and expect results.
Digital Marketing Cost in USA
|Digital Marketing Services||Cost Per Month|
|Search Engine Optimization (SEO)||$1200 to $2000|
|Content Creation||$1000 to $10,000|
|Social Media Marketing||$1000 to $5000|
|Video Content Creation||$2000 to $10,000|
|Email Marketing||$300 to $5000|
|Pay Per Click Advertising (PPC)||30% of campaign budget|
To be honest, it might cost you a few hundred to several thousand dollars depending on the services. After Covid-19, several firms are forced to find out the answer to the question- “How much should you pay for digital marketing services in 2021?”
The costs depend on whether the company is hiring the agency for a full package or only certain services.
Let’s give you a generic idea of the costs of such services-
- Search Engine Optimization (SEO)
Could you have guessed the average close rate of search engines? It is 14.6% which means that almost 15 out of 100 leads you get from the search will convert to results. The process of Search Engine Optimization helps the visibility of brand in search results.
Good and reputed digital marketing agencies in the United States could cost around $1200 to $2000 per month for custom made SEO packages for small and mid-sized businesses.
SEO consultants usually charge around $100 to $200 dollars per hour depending on their location, professional experience and expertise. This is the pay for digital marketing services in terms of SEO.
- Content Developing and Marketing
Content marketing is believed to be more effective than traditional marketing in terms of lead generation. It generates up to 54% more leads than traditional marketing. It helps in improving the brand awareness, presence and revenue in the long run.
Content on a website includes everything from guides to blogs to infographics to videos, and all of these provide and hold a certain level of value and relevance for different target groups.
Companies usually spend between $1000 to $10,000 per month by hiring content agencies. The cost becomes even higher if there is requirement of video content.
- Social Media Marketing
Only 25% of companies in the United States take up social media marketing seriously and consider it a part of their growth strategy. Social media marketing boosts visibility to target audience and helps in building brand awareness and following on platforms like Instagram, Facebook, Twitter and Pinterest.
The major expense is on planning, content creation and audience engagement. It costs between $1000 to $5000 per month in the United States.
- Video Content Developing and Marketing
Videos are always more engaging and attractive to visitors, enhancing the brand’s awareness, conversions and sales. Investing in video content development results in 85% conversions than any other promotional method.
The expense at this step is planning and creation of content through engaging videos which the brands can publish on platforms like YouTube to get a wider viewership.
Such a digital marketing plan can cost around $2000 to $10,000 per month in the United States for video content.
- Email Marketing
According to a research, email marketing offers a return on investment of $44 on every $1 invested. It is not only the most cost-effective kind of digital marketing, but also the easiest way to reach the target audience directly.
Email Spamming might be a problem and laws are becoming stricter across the globe. Therefore, if your company is thinking of adopting this digital marketing method, you should make sure that your email marketing campaigns adhere to the CAN-SPAM laws.
Pay-Per-Click (PPC) Advertising is growing in the digital marketing world rapidly. Similarly, like SEO, PPC also increases brand visibility on Google. Unlike any other traditional method of advertising, the brand only pays for every click on the ad.
For every single dollar invested in PPC advertising, you get an additional dollar. This usually accounts to 30% of the campaign budget on the brand in the United States. If a company spends approximately $1000 on Google Adwords, then the fee for PPC advertising will be $300 plus some retainer fee.
Factors Affecting Digital Marketing Budget
Here are some points which determine the cost of digital marketing depending on several factors. Let’s check them out.
- Marketing Goals
Marketing goals is the biggest factor which determined how quickly the brand wants to grow their online presence or if they wish to take small steps to digital transformation. Therefore, the brands monthly spend on digital marketing services depends on their marketing goals.
- Experience of Agency
The fee of a digital marketing agency which has been established in the market for a long time and has given great results is always slightly higher, but investing in such agency is always a good idea because it usually pays off in terms of results.
- Package Offerings
Hiring a one-stop digital marketing agency is always a better idea than specialized marketing firms. A package covering SEO, content creation and PPC advertising will cost a company less than hiring freelancers or separate agencies.
- Marketing Strategy
If your brand is online or is dependent on audience engagement on digital media, you should definitely go all in and opt for an aggressive marketing strategy. Investing in marketing and advertising channels will shoot up the cost of the package.
If the marketing is only SEO or SMM focused, the digital marketing costs will be much lower.
Digital Marketing is the future for business growth for any big or small brand. If you choose to invest in the right channels and services, it will definitely maximize the return on investment.
Whether your budget for digital marketing is $500 or $5000, it is important to make sure that you get the maximum return on your cost.