Are you excited to use a sound digital marketing strategy to grow your business, but you are not sure how much you could pay for it?
I am a professional digital marketer who will like to help you on how much you should pay for your digital marketing campaign.
With this detailed pricing post, you will get to know the amount of money your company should pay if you want to hire a digital marketing consultant.
The average cost of running any digital marketing campaign start from the price of $2500 to $12,000 per month.
The Cost of Digital Marketing in 2023
With the rise and non-stop growth of digital marketing, it does not come as a surprise that more business owners want to partner and work with qualified digital marketers to grow their businesses.
But the great question remains on how much should be spent on a digital marketing campaign.
There is no direct answer to the amount that can be spent on your company's digital marketing campaign because there are several factors to be considered, such as your marketing budget, your business competitor, and your marketing goals.
This is the reason why I created this detailed resource for you to explore the average cost a digital marketing campaign could cost you in 2023.
While reading my digital marketing pricing please keep in your mind that every online marketing price is different, depending on the marketing consultant you want to work with.
The digital marketing cost that I want to talk about is based on various combinations of online marketing price research and my own digital marketing pricing.
3 Critical Things to Note When Researching Digital Marketing Costs.
As you continue to do your research on the cost of digital marketing, you should also pay attention to these three most critical factors that are often overlooked by many business owners.
These critical factors are:
It is important that as a business owner you know what you are paying for.
This is the reason why it is of critical importance you know the deliverables of a marketing consultant you want to work with before hiring.
You should not hire any consultant that is not open about their services.
Many digital marketing consultants don’t disclose their marketing price on their web page, which can lead to them overpricing you for your marketing campaign.
You should also be careful of any online marketing consultants that offer you cheap pricing.
A cheap online marketing price is a clear sign that the marketing consultant you are about to hire follows a “one-size-fits-all” model of marketing.
This model of marketing does not lead to the return on investment that you are supposed to get from your marketing campaign;
This is the reason why you should choose a digital marketing consultant that values a personalized approach.
As you compare different marketing consultant prices, you should not forget to also consider their unique selling prepositions (USPs).
Services Included in a Full Digital Marketing Campaign.
If as a business owner you are researching the cost of the services digital marketing can offer you and what is also included in those services.
With the various online channels that are available in today’s world, there are plenty of online marketing services you can consider for your business's positive growth.
I will talk about the most important of the popular services due to their positive results and return on investment;
Few of the most popular digital marketing services base on their positive results and ROI outcome include the following:
1. Search Engine Optimization (SEO)
SEO is a core digital marketing service that should not be overlooked by any business that wants to succeed.
What is SEO? It is a budget-friendly digital marketing strategy that focuses on the improvement of your business's online visibility.
To cut the long story short, SEO helps your business website to rank higher on the search engine result pages and become visible to your target customers who are already looking for you.
For example, if you own an insurance company, you will want to rank high on the search engine for keywords that are related to your business like “top insurance company,” “the best insurance company,” and “types of insurance companies”
With the huge amount of more than 85% percent of online shoppers that rely on search engines to find information about products and services.
SEO is essential and extremely beneficial for business visibility on the web as the search engines have an average close rate of 20%.
What this means is that 20 of the leads that your website generated from search engines will likely purchase from you.
The figure might not seem like a lot to you, but an SEO campaign converts eight times more than your traditional marketing method will convert.
Note: SEO focuses on providing value to your target customers through quality content that will make them trust you and see you as an authority in your industry.
Because of this, it is an ongoing strategy that will continue to bring your target customers to your website.
If you are interested in running a competitive SEO strategy for your business visibility, and growth. You need to know that the service costs between $3500 to $15000 a month.
2. Pay-per-click (PPC) Advertising
Pay-per-click advertisement is another essential digital marketing service that should not be overlooked.
Unlike search engine optimization (SEO), PPC focuses on your business's online visibility in the search results through paid ads by bidding for keywords that your target customers search for in the search engine.
These paid advertisements usually appear above the search engine organic results and have a green – lettered box that signifies that it is a paid ad.
Meanwhile, unlike your normal traditional advertisement, the only time you are charged for your PPC ad campaign is when your target customers click on it.
If executed properly businesses make $2 for every $1 dollar they spend on their PPC campaign.
If you will like to invest in a PPC campaign for your business, your monthly budget should start from $10,000 to $15,000.
3. Content Marketing
You must have been hearing the word “Content is king”.
Content marketing unlike other digital marketing strategies offers your business a massive return on investment (ROI).
It will give your business 60% more customer leads than traditional marketing, this is the reason why it has become an asset to every digital marketing campaign, especially SEO.
Content marketing improves your business awareness, sales conversions, and revenue through quality content.
This content includes every marketing content you can ever think of, from business guides to your website blog posts and infographics.
Although each piece of content is different in its appearance but they all do the same work, which is to provide value to your website visitors.
For example, a blog post may offer guidance on “how to choose the best insurance company,” while a guide will likely include “types of insurance,”
Like an SEO campaign, content marketing is also an ongoing marketing strategy.
Although content marketing can double your website sales conversions, but it is not a strategy that works overnight.
This is the reason why when you want to consider your digital marketing cost, you should also consider the duration it will take for those digital marketing services to start bringing in your required result.
For content marketing to bring in the result you required, you will have to consistently produce great and quality content for your website visitors and also optimize it.
You shouldn’t make your content marketing strategy a one-time investment; making it a one-time investment won’t bring any positive results to your business.
This is one of the reasons why it is of great importance you partner with a trusted digital marketing consultant like me.
I can provide you with guidance on the digital marketing service that will offer your business the most value.
If you want your website to have great contents that speak to the emotions of your target customers.
Pricing start from an average cost of $1000 every month for small and medium businesses to more than $10,000 for larger businesses.
4. Social Media Marketing
Social media marketing service is a popular digital marketing service among many businesses.
This online marketing service focus on increasing your business presence, awareness, and brand loyalty via the online social media platforms where your target customers spend most of their time.
There is a massive opportunity in social media marketing today, yet only 30% of companies use social media channels for their marketing and customer relationship strategy.
You can begin to use social media to reach your target customers today.
If you take advantage of social media platforms, you can offer more value to your target customers.
You will also be able to respond to your customer’s questions and comments.
Social media marketing is not only for business-to-consumer (B2C) industry kind of businesses.
Even if your business is a business-to-business (B2B) business, you can use social media marketing to promote your products and services.
For example, through Facebook, more than 40% of marketers gained clients.
Overall more than 80% of business-to-business (B2B) from social media is gotten from LinkedIn.
If you want to consider social media marketing for your business, monthly pricing will start from $500 to $5000.
5. Email Marketing
Email marketing is one of the oldest, cost-effective, and time-tested digital marketing services.
This digital marketing service is a marketing service that focuses on building your business awareness and loyalty, which often lead to increased sales and conversions.
This is the reason why email marketing offers businesses an exceptional ROI of more than $50 for every $1 you invested in it.
It is essential you work with an experienced consultant for your email campaign to get the ROI you needed.
The best part about an email marketing campaign is that you can coordinate it with your other digital marketing campaign;
It is like the blood that is needed to make your digital marketing campaign function properly.
For example, if you want to in content marketing, SEO, and video marketing.
You can repurpose your content mixed with video and then send it to the business lead you acquired through your SEO via your email marketing campaign.
If email marketing interest you, monthly pricing starts from $500 to $2500.
6. Video Marketing
Video marketing is another digital marketing service that is great for your business conversion.
Video marketing is like content marketing because both can be used to increase business awareness, conversions, and sales through the creation of good quality, valuable and informational content about your business products and services for your target customers.
Video marketing is an ongoing marketing strategy like SEO and content marketing.
Investing in video marketing will improve your business conversion by a staggering 80 percent.
Video marketing when mixed with content marketing and SEO will bring more leads to your business which will increase your revenue.
With video marketing, you will be able to improve the conversion rate of your overall digital marketing campaign.
For example, if you have an ongoing content marketing campaign, you will be able to create videos that will complement your content campaign.
You can create an instruction video on how to use your product.
If you will like to include video in your digital marketing strategy, it will cost you a monthly fee of between $1000 to $50,000.
The cost of video marketing mostly depends on the type of project you want, this is the reason why the price is wide.
7. Web design
Setting up a website is the first thing to do for any business that wants to start online promotion.
Your website is your first impression and your passport to reach the world, it shouldn’t be overlooked.
Your website plays a critical role in the success of your marketing campaign.
A properly optimized website can also positively impact your website's ranking in search engines.
A brand new website or redesigned website with a better user experience will offer your business a noteworthy return on investment (ROI).
Most website design is a one-time investment.
It is however of great importance that you maintain your investment, which is the reason why you need to maintain your website.
If you want to design a new website or re-designed your old business website.
The price ranges from $5000 to $20,000 for a custom website and $500 to $1000 for a website that can be customized from a template.
The monthly cost of your website maintenance starts from $100 to $2000.
How Much Are You Expected to Spend on a Digital Marketing Campaign?
The amount you will spend on your digital marketing campaign will depend on your goal and company size.
However, based on experts' recommendations you are expected to spend 10% of your sales revenue on your marketing campaign.
If you are a startup yet to earn any revenue, your customer lifetime value will determine how much you will spend.
To determine your customer's lifetime value, you need to calculate your customer's average purchase value, and then multiply the number by the average number of purchases.
5 Reasons to Invest in a Digital Marketing Campaign
In the world that we are today, there are many reasons you should invest in a digital marketing campaign. But I want to talk about the 5 most important ones:
1. Digital marketing is the epitome of your business growth.
Digital marketing has a wide range of marketing services that provide an enormous return on investment (ROI).
Digital marketing can also expedite the growth of your business.
This continuous business growth offers you the opportunity to achieve your business's biggest goals.
2. Digital marketing increases your business revenue.
With a well-executed digital marketing strategy, you can earn an impressive return on investment (ROI) and boost your business's long-term revenue.
With an ongoing digital marketing service like Search engine Optimization (SEO), your business website will continue to become more visible to new customers which will earn you more revenue.
Meanwhile, it will be good if you invest in a competitive strategy so that you can get the best possible results.
This is the critical reason why you should hire a trusted and result-oriented digital marketing consultant.
3. Digital marketing is the key that can boost your brand awareness
Investing in a long-term digital marketing strategy for your business will increase your brand awareness and brand loyalty.
Few examples of digital marketing services that will boost your brand awareness and brand loyalty include search engine optimization (SEO), content marketing, and social media marketing.
How did SEO, content marketing, and social media marketing build your brand awareness?
Each digital marketing service focuses on offering your target customers value through content creation.
Whether by the creation of original quality content that answers the doubt questions of your target customers or by engaging your customers on your social media channels.
These digital marketing services prioritize the interest of your target customers because it focuses on providing them value through content, rather than focusing on your business sales goals
Although, brand awareness will not bring you immediate results like a PPC advertisement will bring.
If you can stick to it; it will eventually bring long-term results that will last longer than PPC advertisement, and these results will increase your business conversion and lead generation rates.
4. Digital marketing expands your market share
Another reason why you should take advantage of digital marketing services is the ability to increase your business market share, which influences the growing revenue of your business.
With Digital Marketing you can accomplish most of your business's ambitious goals with a bigger market share.
Search Engine Optimization (SEO), email, and video marketing are among the few digital marketing services that can contribute to increasing your business market share.
With these three digital marketing services, you can connect with your prospects at every stage of their buying process, which will encourage them to buy from you.
For example, Search engine optimization (SEO) generates 20% of business sales while email marketing generates 50% more business sales than any other digital marketing lead generation services.
Meanwhile, video marketing improves your business sales conversion to more than 85%, plus 90% of online shoppers love to watch videos to help make a buying decision.
5. Digital marketing gives your business the ability to compete.
Irrespective of where your business operates (offline or Online), you will still have to compete with businesses in your industry.
This is the reason why digital marketing campaign is essential to the growth of many businesses today.
It gives you the ability to reach your target customers anywhere they are located in any part of the world.
It increases your revenue, boost your business growth, and brand awareness.
As an experienced digital marketing professional and an SEO expert, I can help build a digital marketing strategy that will maximize your business online presence and help you to achieve your marketing goals.
With a sound and great online presence strategy, you will keep your business competitive in your industry.
If you the help of a digital marketing professional for the growth of your business,
Feel free to Schedule 30 Minutes Strategy Session with me so that I can start to build a custom result-driven digital marketing strategy that works for your business.
I provide digital marketing services to various companies around the world;
It doesn’t matter the country your business is located, I will be happy to create a result-driven digital marketing campaign for you.