The Marketing Cost Guide
Are you confused about where your marketing expenses are going? Do you find it challenging to navigate through the various costs involved in promoting your business?
Well, worry no more! This comprehensive guide will demystify the world of marketing expenses and help you make informed decisions about your marketing budget. So, grab a cup of tea and let's dive right in!
Understanding Your Marketing Expenses
When it comes to marketing, you need to consider numerous expenses. The costs of search engine optimisation (SEO), pay-per-click (PPC) advertising, web design services, content marketing, social media marketing, and email marketing can all add up.
Let's break down each of these expenses to gain a better understanding when you purchase each service individually..
Typical Services
SEO (Search Engine Optimisation
When it comes to marketing, you need to consider numerous expenses. The costs of search engine optimisation (SEO), pay-per-click (PPC) advertising, web design services, content marketing, social media marketing, and email marketing can all add up.
Average Cost £1,500 -£5,000
Pay-Per-Click (PPC) Advertising
PPC advertising allows you to display ads on search engine result pages and websites, paying only when someone clicks on your ad. The cost of PPC advertising is determined by keyword competitiveness, ad placement, and campaign settings. It's essential to allocate a portion of your budget to PPC advertising as it can generate immediate and targeted traffic to your website.
Average cost £3500 -£10,000 per month
Web Design Services
Your website is the face of your business, and investing in a professional web design is crucial. Web design costs can vary depending on the complexity of your website, the number of pages, the need for custom features, and the expertise of the web design company you choose. Remember, a well-designed website can significantly impact your brand image and user experience.
Average Cost £2000 - £250,000
Content Marketing
Content marketing involves creating and sharing valuable content to attract and engage your target audience. Content marketing costs include content creation, graphic design, video production, distribution, and promotion. With a well-executed content marketing strategy, you can establish yourself as an industry expert and build trust with your audience.
Average Cost £1000- £20,000
Social Media Marketing
Social media platforms offer immense opportunities to connect with your audience and amplify your brand message. Social media marketing costs typically include content creation, advertising, influencer partnerships, and management tools. Allocate a portion of your budget to social media marketing to increase brand visibility and drive engagement.
Average £2000 - £5000
Email Marketing
Email marketing remains one of the most effective ways to nurture leads and drive conversions. Email marketing costs can include email automation software, email design, copywriting, list management, and analytics. With a targeted email marketing strategy, you can build relationships with your customers and keep them engaged with your brand.
Average £500 - £5000
Strategies
Now that we have explored the various marketing expenses, it's important to note that investment in these strategies can yield significant returns. By carefully budgeting and allocating resources to each area, you can create a comprehensive marketing plan that maximises your reach and drives business growth.
Furthermore, while these expenses are essential, it's equally important to regularly evaluate and analyze the effectiveness of your marketing efforts. This ongoing assessment will allow you to make informed decisions and optimise your strategies for better results.
Breaking Down the Average Cost of Digital Marketing
How much should you allocate to your overall digital marketing efforts? The average cost of digital marketing can vary depending on factors such as the size of your business, industry competitiveness, and your marketing goals. It's recommended to allocate a percentage of your revenue towards marketing, typically between 5% and 15%, to ensure a steady flow of leads and sales.
Allocating Your Marketing Budget Effectively
When budgeting your marketing expenses, it's important to prioritise your goals and allocate funds accordingly. Consider your business's specific needs and choose marketing channels that align with your target audience and objectives. Diversifying your marketing efforts across multiple channels can often be beneficial to reach a wider audience and maximise your return on investment.
Understanding the Cost Variation Across Different Marketing Channels
It's essential to understand that the cost of marketing can vary significantly across different channels. For example, the cost of PPC advertising can differ based on the targeting options you choose, while web design costs can range from budget-friendly to premium, depending on the level of customisation required. Do thorough research and consult with professionals to understand the cost implications of different marketing channels.
Marketing Outsourcing Costs
Let’s look at the cost of hiring an in-house team and the costs associated with this.
According to Reed.com, the average Marketing salary in the Midlands is;
Marketing Manager is £56,000
Graphic Designer is £42,000
Sales Executive is £37,500
PPC Executive is £55,000
Copywriter is £47,200
You get the picture.
Of course, you must still factor in taxes, holiday pay, sick pay, and pensions. Then, add training, software, hardware, and staff churn if they don't work out.
The other option is to outsource your marketing.
Propria prices start at £3000 pm and rise depending on how much you need us to do.
Our most popular plan gives you;
A Copywriter
Email Specialist
PPC Specialists
Graphic Designer
Campaign Creator
LinkedIn Specialist
Software Developer
Marketing Strategist
Landing Page Designer
Oh! We take care of all the software costs, too.
Summary
Now that you better understand the various marketing expenses involved, you can make more informed decisions about your marketing budget.
Remember, monitoring your marketing efforts and adapting your budget to align with your business goals is essential. With a well-planned and budgeted marketing strategy, you'll be on your way to achieving success in the digital landscape.
If you want to learn more about our solutions and how they can benefit your business, contact us using the link below. We'd love to get to know you better.
