‘How much digital marketing costs in 2020’ is a question every business owner is trying to answer after the slowdown forced by COVID-19. Similar searches were being done earlier too because almost 80% of online consumers depend upon searches for product & service recommendations.
While entrepreneurs are ready to invest, the question that is boggling everyone is ‘how much does digital marketing cost’ in the US, UK, and India since they are the biggest talent markets in the world.
To be very honest
Digital marketing can range from a few hundred dollars to several thousands depending on multitude of factors. Therefore, it is important to understand the factors to come at the right number. But before that, let’s give you a generic idea of how much agencies are charging nowadays in the USA, UK, and India for digital marketing.
Digital marketing cost in US, UK & India
Digital marketing price greatly depends on whether you want to take the entire package or hire digital marketing experts for a specific service (SEO, PPC, SMM etc.) Below are listed current digital marketing costs in $USD for the most popular services in digital marketing. This data will help you hire the right digital marketing agency for your online marketing goals.
Global SEO pricing
Do you know that search engines have an average close rate of 14.6 percent? This means that nearly 15 out of the 100 leads you earn from the search will convert. SEO is the most popular digital marketing service today. Short for Search Engine Optimization, it includes strategies for improving your brand’s visibility in search results.
Reputed digital marketing agencies in the USA and UK charge between $1200 to $2000 for a monthly SEO package tailored for small & mid sized businesses. Pricing for the same package comes down to $700 to $1400 in India.
SEO consultants charge an hourly price ranging from $80 to $200 an hour, depending on their location, experience, and expertise. This is how much digital marketing costs in terms of SEO!
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Content creation & marketing
On an average, content marketing generates 54% more leads than traditional marketing. It also improves your brand awareness, presence, revenue in the long run.
For those who don’t know, content includes everything. From online guides to blogs and infographics to videos, everything falls under the purview of content. Each type of content provides different value and holds relevance for different audience groups.
Wondering how much does content creation costs in digital marketing? SMBs in the USA and UK are spending between $1000 to $10,000 a month by hiring local content agencies. Video content is the most expensive form of content currently and can greatly push up your digital marketing cost.
For blogs, infographics, social updates, and documents, India is the favored destination. Small and mid-sized businesses pay $500 to $1000 on month long supply of digital content.
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Social media marketing
At present, only 26% companies make social media an intrinsic part of their growth strategy. Social media is widely used for building brand awareness and following on popular social media channels like Instagram, Facebook, Twitter, and Pinterest. Major expenses in social media is on planning, content creation, and audience engagement.
Investing in a comprehensive social media strategy can generate more business value and revenue. Wondering how much a complete social media package will cost you? Current monthly social media cost in the USA and UK fluctuates between $1000 to $5,000 per month.
In India, the online marketing cost for social media ranges between $500 to $2500.
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Video content creation & marketing
Video content creation & marketing enhances your brand’s visibility, conversions, and sales by delivering engaging content. According to recent research, investing your money on video content marketing can result in 85% more conversions than earlier. Major expense in video content marketing comes from video content planning and creation.
While video content publishing channels like YouTube give a wider viewership to your business. Adding video marketing to your digital marketing plan can cost you between $2000 to $10,000 on average if you engage content creation agencies in the USA and UK for video content. A team in India can be hired at half the cost.
Want to create video content on your own? Check out DIY guide for video content creation
A 2018 Study suggests that email marketing offers a ROI of $44 for every $1 invested. Email marketing is a cost-effective way to market your business to current and potential customers. That said, the rules related to email spamming are becoming strict across the globe. So, make sure you conduct email marketing campaigns while towing the line of CAN-SPAM laws.
Email marketing packages in the USA and UK start somewhere between $300 to $2000 a month depending upon your email marketing goals. Now wondering how much this digital marketing tratic costs in countries like South America and India? Well, let’s just say you will be making savings of around 30 to 40%.
Pay-per-click (PPC) advertising
Digital ad spending is growing by leaps and bounds. Like SEO, PPC also delivers visibility on your Google visibility but results are pretty quick to come. The best thing about PPC advertising is that unlike traditional advertising, you only pay for your ad when a user clicks on it. Engagement and measurement are two reasons why spending on PPC has gone up in the last 5 years.
If we talk numbers, every single $ invested in PPC gives an additional $. Means, if you invest $1, you’ll get $2 in return. Costing in this web marketing practice majorly works on the percentage of campaign budget. PPC advertising companies in the USA and UK usually charge 30% of the campaign budget. For instance, if you want to spend $1000 on Google Adwords, then, the fee will be $300 plus some additional retainer fee.
Learn how we generated leads worth $40,000 using PPC
Factors affecting digital marketing budget
Being the leading digital marketing agency, Upreports is here to help you reach near-perfect marketing cost estimation but digital marketing pricing varies a lot depending on multitude of factors.
Let’s begin with the factors that cause the biggest variations in digital marketing costs!
The biggest factor that will determine your marketing cost is your marketing goals. Some businesses want to quickly build their online presence while others are okay with taking small steps to digital transformation. So, businesses with big marketing goals will have to make a big monthly spend. Let’s take an example for better clarity.
A LED company that hasn’t yet built its online presence wants to build assets quickly and make a mark. So, they will probably go for a marketing package that includes:
- 6 blogs per month
- 4 videos per month
- Social presence on all major platforms
- 100 backlinks per month
- PPC spend of $5000 per month
- Email marketing budget of $2000 per month
Above package is as per marketing goals of a company that doesn’t mind spending more and wants to take an aggressive stance. A small local bakery on the other hand will find below efforts enough keeping in mind their budget:
- 3 blogs per month
- 1 video per month
- Social presence on Instagram and Pinterest
We think we have addressed ‘how much digital marketing costs?’ pretty nicely from the goals factor!
Investing in a digital marketing agency that has been in the market for a long time is always a good idea. Expertise of such marketing firms makes them eligible for a slightly higher price but the fee paid usually pays off in terms of results.
A novice digital marketing company will charge less but there is a bigger chance that work quality will suffer. That’s why we recommend hiring a team with decent experience and affordable packages!
When we talk about digital marketing, one-stop digital marketing agencies make more sense as compared to specialized marketing firms. With one package covering social media, content creation, SEO, blogging, and advertising, costing will come out to be pretty less in comparison to hiring freelancers or separate agencies.
Engaging one agency for all your marketing needs will also save time and effort spent on coordinating with multiple marketing partners.
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If you run a NYC based coffee shop, your digital marketing budget won’t touch the spending of a cafe chain active in all of New York. Business size also determines the size of money available for advertising and marketing.
Smaller businesses cannot afford to keep aside a lot of funds for digital marketing. Hence, this influences their decisions related to content, strategy, and hiring. Bigger businesses also have the bandwidth to maintain a dedicated digital marketing team.
When wondering how much does digital marketing costs, remember one thing! It’s your marketing strategy that really impacts the budget of digital marketing. If you’re opting for an aggressive marketing strategy and choosing to invest in all major marketing & advertising channels, expect the pricing to be higher.
If your marketing is only SEO & SMM focused, the digital marketing costs will be lesser. Make sure to hire a reliable agency for online marketing services!
This is something you would have already figured out but still, let’s underline it. Digital marketing talent based in the USA and UK are expensive in comparison to talent located in developing nations like India and South America.
The location factor comes into play because cost of living and buyer power differs greatly between developed and developing countries.
So this was the answer to ‘how much does digital marketing cost’ and by now you must be aware of the trending costing in the USA, UK, and other top talent markets of the world.
Digital marketing cost endnote
Digital marketing is the future of business growth and this is the reason why businesses – small or big – across the globe have started investing in online marketing. That said, returns will be maximum only if you will invest in the right channels.
Whether you have a monthly budget of $500 or $5000, it is important to make sure that you get the maximum bang for your buck. Send us an email at email@example.com to discuss your business goals and request a free marketing plan as per your budget.Follow Upreports on Pinterest to discover case studies, marketing tips, and much more.