Do you want to attract potential customers to your business by using a robust digital marketing strategy? Are you looking to hire digital marketing experts to boost conversions and sales but not sure what you should pay for it? If your answer to all these questions is Yes, this blog is for you.
In this blog, we have provided a comprehensive guide on the services you can expect from a Digital Marketing Manager or agency and the factors on which the pricing for digital can vary, so you can find out what you should pay when working with a digital marketing consultant or an agency.
What Services Can a Digital Marketer Provide?
Digital marketing experts or agencies can provide a variety of services, including:
- Creating and executing digital marketing plans
- Managing PPC ads or online advertising campaigns
- Optimizing landing pages and website for search engine visibility
- Social media campaigns
- Email marketing campaigns
- Analyzing campaign and website data to optimize performance
- Managing digital marketing budgets
Some digital marketing agencies charge a flat monthly rate while others charge as per project or hourly rate. Typically, the more services a digital marketing expert or agency provides, the higher the hiring cost will be.
The Cost to Hire Digital Marketer can vary depending on several factors exclusive to your business, such as the size of your business, marketing goals, budget, the services you need, the scope and size of the marketing agency, the services that are providing and the location of the marketer.
Factors Responsible for Price Variation in Digital Marketing
Here are a few factors that cause the price for hiring a digital marketer or an agency to vary;
Firm/consultant experience
The first factor that can cause the cost of hiring a digital marketer to vary is the experience. This applies to both in-house hires and offshore teams.
If you hire someone with no experience or as an entry-level, you pay them less than someone who is experienced. You’re paying more to an experienced marketer for their experience, and skill set and expect them to provide more value over time.
The same rule applies to an outsourcing firm or consultant. The more experienced the firm is, or the more industry knowledge it has, the more you would have to pay. Mainly because they can reduce the time to generate tangible results.
Scope Of Work
The next factor is the scope of work. It includes project management, the number of hours you get from a firm, project deliverables, and project strategy. Especially in digital marketing, strategy is way undervalued and underpriced.
For example, a person with five to ten years of experience may have an hourly rate that is three times more than someone with one or two years of experience.
That’s because they can do the work at a three times faster pace and with more valuable services and deliverables.
Internal Agency Costs
Another factor that affects the pricing when you hire a digital marketer or an agency is the operating cost. In e-commerce, it is COGs (cost of goods sold), whereas, in the services world, it’s operating costs such as tools, salaries, legal guidance, and more.
Individual marketers may charge higher prices than a marketing agency because their time and resources are finite.
The most beneficial marketers can be the ones who are charging the most because this gives them an opportunity to focus on a few clients instead of trying to handle many.
Otherwise, the quality of work can suffer. Marketing agencies work differently. They are more complex businesses and have payroll, tools, salaries, other benefits and office overhead, costs to pay.
In the case of digital marketing agencies, size does not matter. Smaller, agencies that have been working in the market for a decade or longer tend to have highly dynamic and compensated experts.
Thus, they can be sometimes more expensive than a larger agency. On the other hand, larger agencies can have less experienced employees in their teams. In short, it can go both ways.
Industry-Specific Factors
Another factor that affects the pricing is the specific industry factors. For example, travel is a highly competitive industry or niche, so to get noticed in this space or even make a dent in competing, you have to pay high.
On the other hand, if you have a smaller niche, like organic gardening. Competitors will be fewer, therefore, less money to be made than in travel. It is the reason why the budget required to enter and flourish in that industry will be lower.
Similarly, digital marketing for e-commerce businesses in a highly competitive niche will cost a lot more than for a low competitive niche business. You have to pay high for an experienced marketer or agency who will hit the ground with a clear marketing strategy.
Conclusion
In conclusion, the enhanced growth and expansion of the digital marketing industry have caused many businesses to partner with trusted online marketing experts and agencies, like Hireadev.
However, to hire a digital marketing expert or agency., it is critical to consider the size of the agency, the price, and the services. It will help you to analyze if the company or marketer is a good fit for your business.
If you want to hire a dedicated digital marketing expert or need any further assistance in digital marketing please contact us!
