It is no surprise that digital marketing has taken the world by storm, with internet usage increasing and more people turning to online sources for purchases, information and entertainment.
Businesses that want to gain a competitive advantage need to make sure their website is easily found on Google and other digital channels. This is where hiring a digital marketing agency comes in handy.
But how much does it cost to hire a marketing agency? And how do you find the best fit for your company without overpaying or underachieving?
Our guide is here to help you get to know all the key facts about investing in digital marketing agencies – so that you can be sure to make the best choice when it comes to marketing your business.
Why Hire a Digital Marketing Agency?
Digital marketing is a very wide field that basically covers all the activities related to promoting a product or service online. This can include SEO, SMO, PPC, blogging and much more. Many businesses don’t have enough time and knowledge to undertake such activities themselves so they look for external help from digital marketing agencies which specialise in these services.
Hiring a digital marketing agency offers business owners numerous benefits. Some of the key reasons to hire a digital marketing agency include:
- So You Can Focus On Your Business: Business owners who don’t have the necessary time and expertise to undertake digital marketing activities on their own can hire a reliable agency. This will not only free up their time but also help them focus on other aspects of the business that require their attention.
- To Stay Ahead of Your Competitors: Since digital marketing is an important aspect of business growth, it can help you stay ahead of your competitors. Agencies are experienced in the latest methods and tools that enable them to promote your brand better than you can yourself. As a result, they will be able to gain more ground in the competition, providing you with a clear advantage.
- So You Can Work With Experts: A digital marketing agency will consist of a team of professionals who have experience and expertise in this field. This means that you’ll be able to get the help you need to grow your business from individuals who know what they’re doing, meaning you can avoid ineffective strategies and outcomes.
- To Cut Down On Costly Mistakes: Working with digital marketing agencies can help you cut down on costly mistakes as these professionals already know what works and what doesn’t. They will devise a plan that is tailored to your business needs and goals ensuring that you make the best of your budget and get value for money.
Are Digital Marketing Agencies Cost-Effective?
You might wonder if hiring a digital marketing agency is cost-effective or not. There is no set rule or answer to this question because it really depends on your needs. For example, do you have the necessary in-house expertise and training? If so, you might forgo hiring an external agency in favour of doing everything yourself. However, if in-house expertise is lacking, an agency can be the most cost-effective option.
You’ll have to weigh up the costs of both. If you’re hiring an in-house team of 2-3 people to help support your digital marketing activities you would be looking at around £70-£85K a year in salaries. It’s likely as a small business you won’t need to pay an agency that much.
This may vary depending on your business size and the type of agency you’re looking to work with, however. But for a small business, you should be able to save money by working with a digital agency, the only drawback is that they won’t be working on your website 100% of the time as your staff would be.
If you’re looking for tangible results from your digital marketing efforts, hiring a digital marketing agency is certainly going to help you achieve your goals in a cost-effective manner.
How Much Does It Cost To Hire a Marketing Agency? Average Costs Per Month
According to Statistica, the average costs of digital marketing agencies vary based on which services they offer. The average monthly costs of digital marketing agencies by services offered as of 2020 were reported as:
- Paid social media: £587.50
- Marketing strategy: £738
- Content marketing: £817.90
- SEO: £901.50
- PPC: £1,040.9
- Organic social media: £1,120
However, it’s important to keep in mind that these are just averages and each marketing agency is likely to have a range of prices and packages depending on your needs. The monthly cost of your digital marketing will depend on numerous factors, such as which agency you choose, how long you work with the agency, what industry your business is in and your exact marketing requirements.
You should also take into consideration the overall costs of running your online marketing campaigns over time, not just the initial sign-up fees. Some agencies will provide you with a variety of monthly packages or one-time services that can save you money in the long term.
Top Tip: Find an Agency That Offers a No Lock-In Contract!
If you’re concerned with how much money you can afford to budget monthly for your digital marketing solutions, here’s a top tip.
A great digital marketing agency will have enough confidence in their results and service standards that they will offer no lock-in contracts instead of trying to sign you up with hefty minimum-term contracts. A no lock-in contract means that you have access to flexible services that can be changed month by month to stay up to date with your budget and needs.
At Dandy, we know that life is unpredictable even when it comes to business. To make sure we can meet your needs on a month-to-month basis, we offer all of our expert digital marketing services with no lock-in contracts. Enquire today.
At the very least, if there are no rolling contracts make sure you are free to leave or can have quarterly reviews where you have the option to cancel if you wish to.
Essential Digital Marketing Services To Budget For
Search Engine Optimisation (SEO)
Search Engine Optimisation (SEO) is one of the essential elements of digital marketing that should be included within your marketing budget. SEO is what helps your site rank higher in search engine results. This improves the organic traffic to your site as well as boosts customer satisfaction and loyalty as they can now find you with ease. For this reason, SEO needs to be part of every digital marketing strategy and is always worth investing in. We have different levels of SEO packages available that are suitable for a variety of budgets.
Paid Ads & PPC
Another aspect to consider in your digital marketing budget is paid PPC management on search engines or social media. Paid ads are an easy way to boost traffic to your website quickly, especially if you have a limited budget. PPC is a key element of digital marketing and should always be offered by a great digital marketing agency worth investing in.
You should also budget for paid social media campaigns. Facebook and Twitter ads, as well as promoted posts on Instagram, are a great way to target new customers and grow your following. Paid social media campaigns can be a great investment if you run them with a digital marketing agency that has experience and expertise in this strategy.
In addition to paid social media campaigns, creating quality content may also help grow followers on these platforms. Focusing on researched and targeted topics of interest to your target audience can help encourage them to follow you, share your content with their friends and families, and drive traffic back to your site.
Although they are two separate elements of digital marketing, SEO and content marketing work in tandem with each other. Search engine optimisation will help grow the authority – and thus quality – of your content in the eyes of search engines like Google and Bing, allowing your content to rank higher and get in front of your target audience.
Websites & Web Design
Of course, you’ll also want to include website design within your digital marketing budget. The design of your site will help determine how easy it is for customers to find their way around your site, locate the products or services they are looking for quickly and easily.
Poorly designed websites will generally lead to poor conversions, while well-designed sites help your brand grow and improve customer loyalty. A great digital marketing agency may offer bespoke website design services as part of their other services or marketing packages, so be sure to enquire about this.
Digital marketing can feel like a real minefield at times and it’s easy to get confused with all the jargon that gets thrown about. A good digital marketing agency should be able to offer great digital consultancy services, such as training on how to get the most out of SEO and digital advertising, among other things.
Some of these services may also include one-off reports or ongoing monitoring of your digital marketing strategy. These can be really useful as they help you stay on top of what’s working and what isn’t, plus they provide valuable feedback that you would otherwise struggle to get on your own.
If you’re thinking about getting more involved with digital marketing yourself by hiring more in-house staff or investing in digital marketing software, for example, consultancy services may be able to show you the ropes.
Weighing Up the Cost of Hiring a Digital Marketing Agency
It is important to make sure your digital marketing budget is well spent and you get value for money. By hiring a digital marketing agency, you will be able to take advantage of our experience and knowledge in these key areas while saving yourself time, energy – not having to become an expert in these areas yourself – and thus money.
But don’t forget, even though hiring a digital marketing agency is the smartest way to invest your time and money, you should still do your homework before hiring one. It’s important to choose your digital marketing agency carefully. That means finding out about their experience, what services they offer customers, what kind of clients they work with, how they work with their customers and if they make a real difference to them.
Be sure to ask potential candidates about this information before hiring one, as well as the basic things like pricing structure. You should never need to pay for ineffective services or find you don’t get value for money from your investment in a digital marketing agency.
Looking For an Expert, Cost-Effective Digital Marketing Agency?
At Dandy, we understand that setting up a website, organising your SEO, and managing Pay-Per-Click campaigns on top of running a business can be time-consuming, confusing and even lead to costly mishaps. This is why our Digital Marketing Services are here to support you.
If you’re looking for an expert team to take care of all aspects of your digital marketing budget on your behalf, we’re here to help.