Digital Marketing Investment Guide:
Unraveling the Costs of Digital Marketing in 2024
Intrigued about implementing digital marketing in your venture but uncertain about the associated costs? Fear not! Our guide to digital marketing prices has got you covered! Discover the investment your organization can expect when partnering with a consultant or an agency. Hint — the standard pricing for digital marketing services in 2024 fluctuates between $2500 to $12,000 monthly, $50 to $500+ hourly, and $1000 to $7500 per project for small to medium enterprises (SMEs).
Evaluating Your Investment:
Understanding the 2024 Digital Marketing Services
SEO
-
$1,500 – $5,000 / month
-
Learn More
Pay-Per-Click Ads (PPC)
-
$9000 - $10,000 / month.
Or 5% - 20% of Ad Spend Budget.
-
Learn More
Website Copywriting
-
$25 - $25,000 / Page.
-
$250 - $10,000 / Page and or funnel.
Learn More
Social Media Marketing
-
$900 - $20,000 / month.
-
Learn More
Website Design
-
$2500 - $100,000 / Website.
-
$1497 - $40,000 / Website.
Learn More
Consulting
-
$2500 - $30,000 / month.
Or $147 - $2000 / Hour.
-
Email Marketing
-
$300 – $5,000 / month.
-
Learn More
Content Marketing
-
$2000 - $10,000 / month.
-
Learn More
Full Service Branding
-
$40,000 - $250,000 Per Brand.
-
$18,000 - $100,000 Per Brand.
With the ever-increasing reliance on digital marketing, it's clear that more businesses are seeking the guidance and expertise of reputable online marketing agencies, like Scale Selling.
However, the burning question remains: what's the appropriate budget for digital marketing?
The answer to this largely depends on your business's unique factors, including your set marketing budget and objectives. This is why we've compiled this in-depth guide to help you understand the average expenses of digital marketing in 2024.
As you delve into this guide, remember that every digital marketing pricing structure varies from one agency to another. The costs we outline here are based on a mix of industry research and our own pricing.
Curious to learn more about digital marketing pricing? Feel free to continue reading, or reach out to us online for a chat with our team of expert strategists about a tailor-made digital marketing plan for your business. Alternatively, give us a call right now!
Common Digital Marketing Investment Questions
One Size Does Not Fit All:
3 Digital Marketing Pricing Models.
In the realm of digital marketing, a considerable element that affects your digital marketing expenses is the billing structure employed by your service provider. Typically, service providers like agencies, consultants, or independent contractors usually propose one of the subsequent billing models:
-
In the monthly digital marketing billing model, your organization is responsible for a regular monthly fee to engage your service provider. This approach is commonly observed when collaborating with an online marketing firm (like Scale Selling).
Generally, a monthly digital marketing package will range between $2500 and $12,000 per month for a small to medium-sized business.
-
Under the hourly digital marketing pricing model, your organization pays a fee for each hour of service provided. Usually, freelancers or consultants operate on this pricing model, but some agencies may also implement an hourly rate for services outside of your primary agreement.
Commonly, hourly rates for digital marketing services span from $50 to well over $500 per hour.
-
Under the 'Per Project' pricing model, your organization pays a predetermined rate upfront for the completion of a specific project, such as developing and initiating a marketing campaign for a new product. Both consultants and agencies can be engaged for such project-based tasks.
Generally, per project digital marketing expenses range from $1000 to $7500 per project.
Remember, these figures are merely industry averages. The costs of online marketing fluctuate and hinge on elements that are unique to your business, particularly when discussing per project or hourly-based work.
What to research when looking into potential Digital Marketing investments
Outcomes: It's crucial for your business to understand what you're investing in—thus, you should scrutinize an agency's promised outcomes before committing. Avoid partnering with an agency that's ambiguous about what they deliver; instead, choose one that's transparent about their offerings.
Cost: Many agencies withhold their pricing information online, which could lead to inflated quotes or concealed charges. If an agency does share their prices on their website, ensure the listed digital marketing costs correspond with your bespoke quote.
Tactics: Lower digital marketing costs might signify the agency adheres to a "cookie-cutter" marketing technique. This doesn't generate the type of return that online marketing can yield, which is why you'd want to select an agency like Scale Selling, which prioritizes a tailored approach.
While comparing the rates of various agencies, don't forget to consider their unique selling points and what they say about “Why them VS the competition.”
“Pay attention to value not the price. You’re making an investment, you want to know how much it will cost, and make the decision based on what you will get in return in terms of quality, amount, service etc.”
- Spencer Williams
Discover how to seamlessly switch to Scale Selling with our expert guide. Learn key steps for reviewing contracts, securing online assets, and managing campaign transitions for optimal digital marketing success.