How Much Do Marketing Agencies Charge?
For most accounting firm owners out there, their primary concern remains the same - ensure that the firm they own is generating profit. Yet, there's just one thing standing between them and the level of success they’re able to reach - the fierce world of digital marketing.
In order to attract new leads and expand your business online, you’re going to need a strong online presence from every single aspect, whether it’s the design of your brand or website, SEO strategies, social media posting, or even your Google Ads; everything has to be in tip-top shape.
In order to achieve this, many people either try to do it by themselves, whilst balancing a hundred other things, or they outsource to multiple digital marketing agencies, which leaves their ROI pretty weak.
In this article, we’re going to reveal the answer to the $1,000 (or $50,000 in some cases) question, ‘’how much do marketing agencies charge?"
And, should you spread the cost of marketing agencies throughout the different options available?
Let’s dive right in.
A Walk Through Costs of Marketing Agencies
When it comes to digital marketing, it can be hard to know where to start. Below, we'll walk through the various marketing agencies you can hire - from design to social media to website development - to give you a better idea of what to expect in terms of cost.
Design Agency Cost
Since the wonderful world of design doesn’t have an industry-wide fixed cost for definite projects, the price can depend on a number of factors. It can vary depending on the size of the client or the project, the expertise of the designer, the complexity of work involved, and even how much value one will receive from design digital marketing agencies.
Remember: design is subjective. You may be happy with a beginner designer from Upwork or opt for a more experienced (and pricey) design firm.
Depending on your preferences, the price for branding designs can start from $1000 and grow to a whopping $50,000. On a project basis, you can expect to pay between $75-$150 per hour.
Tip: New subscription-based design companies can give you a better bang for your buck by providing unlimited designs per month. Our favorites include Superside ($2,000 / month) for expert design and Many Pixels ($550 / month) for a more affordable option. Check them out!
Social Media Agency Cost
Social media marketing can cost a business anywhere from $800 per month to $2,000 per month for a small business, depending on number of posts, experience, and level of strategy required. The huge gap between costs can sometimes make life hard for entrepreneurs and marketing managers who are contemplating outsourcing.
Tip: As an accountant, it's rare that you'll need to hire a dedicated social media agency. We recommend finding a full-stack marketing agency who can provide social media among other services, or searching on Upwork for an affordable, reputable freelancer to manage.
Website Development Cost
When it comes to the website development cost of marketing agencies, pricing can range anywhere from $5,000 to over $100,000 for a new website.
Those on a low budget usually just decide to do it themselves through monthly subscription websites like Squarespace or Wix, however, they’ll never get the quality of work received from true professionals in the field.
In the accounting industry, it's also common to hire a templated company such as Build Your Firm, or others, which is even worse than doing it yourself. We have another blog post on that here.
At Markology, we recommend ourselves for your website development company.. of course. However, if opting for another provider, we recommend spending no more than $10,000 on your website. Look for a website developer who places a strong emphasis on user experience, speed, and SEO - not just design. Remember, the point of your website is to generate more leads!
Tip: Hiring a web designer can be costly but it's one of those areas we strongly recommend outsourcing. It takes all aspects of the technical hassle out of your head and your hands, and ensures you receive a quality product that will evolve with time.
SEO Agency Cost
SEO is a marketing skill that's close to our hearts. When done well, it's essentially free marketing for your business.
Business owners don't typically opt to try SEO themselves, which is good considering the skill and experience involved in ranking your website above competitors. SEO is something that can tremendously impact the success of a marketing campaign and grow your business, but it’s also something that requires an expert in order to best thrive in it.
Tip: SEO pricing from digital marketing agencies is all over the place. Whilst some can charge around $500, others pay a huge $5000 per month just to keep traffic driving to their website. Make sure your SEO agency isn't outsourcing any work!
Facebook / Google Ads Agency Cost
Google Ads are a go-to marketing technique, but similar to all of the above, you’re really going to need experts to handle it for you. This is especially important if you own a new business. While we don't recommend Google Ads as a longer term strategy - that's what SEO is for! - it can be useful in certain situations.
Tip: Find a full-stack company that includes this in their services. When opting for Google Ads, you're going to end up spending a bit of money. For instance, around $1,500 needs to be spent on Ads alone if you’re hoping to see any sort of real success. Paying a lump sum of money to an agency that only provides this service is unnecessary for what you need as an accountant.
If you’re somebody that only needs one service, i.e Google Ads, which of course we don’t recommend, then using a specialized marketing agency may be the way to go. However, if you’re a business that cares about longevity in your results, you’re definitely going to need to take a multi-prong approach to your digital marketing strategy.
Here at Markology, we were once in charge of marketing at top companies that were constantly being price gouged by digital marketing agencies. Seeing this regularly made us think that there definitely had to be a better way - and there is!
With this idea in mind, we designed a subscription model for accountants that covers website design, SEO, content marketing, social media marketing, email marketing, and paid advertising - all for just one set monthly fee.
Until next time!