How much does it cost to hire a local marketing agency?

Today we're going to discuss how much does it cost to hire a marketing agency. So the first thing that we need to discuss is what are the basic services a marketing company offers? So we have local search engine optimization. We focus specifically on local businesses, but any type of SEO or search engine optimization, social media content creation, so posting on your social accounts or creating some type of content, whether it's video or social posts, email marketing, so newsletters or outbound marketing of some type, website creation and hosting, and then running digital ads like Google AdWords or Facebook ads or Yelp ads or something like that. So we focus mostly on local service businesses and these are the main core areas that we focus on. In some videos prior I've shown our customer journey. And so basically each one of these orange tabs has to tie in with these services on site. SEO Offset SEO ads, Manage IT Website user experience, ROI Tracking Customer retention. Basically all of these words drill down into these five core areas of what most marketing companies offer. I also made a video about the different layers of digital marketing. You can check that out. But basically it walks through how different marketing companies are different. So let's look at how much these different services cost and then ultimately how much money you should make from each one of them as a return on investment. So let's look at search engine optimization. What is search engine optimization? So when someone searches for a product or service in your area, like digital marketing company near me, there are ads, right? So these are different ads that you can run. And then there's your local service pack here, which gives you three options. You see that we are in the top three and 30% of clicks happen right here. So this is where we want to rank. And then you have your organic rankings down here. So what local search engine optimization is, is building out your local reputation so that you can rank inside these top three on keywords that are service services that you offer, or obviously your branded keywords like Flash Consulting, you want to rank for that, but you also want to rank for people that don't know you by name but are searching for the service that you offer. And so this typically can cost anywhere from $400 a month to $1,500 a month. And the way that you can pull an ROI off of it is you can easily see how many calls you've received from your Google My business. So this is over a month's time frame for a company that we work with. You can see that they got whatever this is, 16 more calls. And let's say that half of These calls were for new prospects. That's eight, let's say they convert four of those, then their average sale is $500. So that's $2,000 in revenue that they generated by spending whatever amount of money. So that's local search engine optimization. Next, let's look at the social media and content creation. So obviously social media and content creation, it can get really expensive, especially if it's video or how custom the content creation is. And so you can actually find stuff for cheaper than this. But I think for any type of quality when it comes to posting, it's going to be around this price. And then obviously it gets really expensive. It can get higher than this with video content because video content tends to tend to convert better. So how can you draw a return on investment from looking at social content? So what we do is we use a custom dashboard and we can say, okay, a goal when it's completed on your website is like a free estimate form. And so we can say, okay, last month this company had 20 goals or web forms completed from Facebook. The original acquisition source was Facebook. So, so we know that we got them 20 leads from Facebook. Let's say they close at 50% again. So 15% is 10 times their average ticket price. And then you can draw some type of roi. Also they have some other Facebook referral ones from like message, Facebook, Yelp. So yeah, that's how you can pull some ROI from social media. The next one that we're going to look at is email marketing. So email marketing is sending out a newsletter of some sort or some type of outbound marketing. So typically you're going to be paying anywhere from 125 to 500 and upwards, just depending on the frequency of touch points. And so this all drills down to what your open rate is of your emails and your click through rates. So we try, we shoot for 20% open rates and anywhere from 2 to 6% click through rates. And you know that if, if you send out an email and you get 10 people that click through on web form and then it converts into X amount of leads. And so same thing with the acquisition source. We could pull an acquisition source, for example, like google.com referral, they got two leads from that. And there's other, we don't really run too many newsletters for them as far as it's more of awareness. It's not necessarily prospecting or return business. But you can pull an ROI based on where the lead traffic came from. The website is obviously a really big one. So you can spend a lot of money on a new website. And so this can get obviously very expensive to build out a full on custom website. And it's pretty simple to pull an ROI from your website. As I've shown before, with this goal completion, we can say, okay, how many people came from just general Google Organic or directs to your website? They didn't search for a product or service, they just came straight to your website. So you can pull an ROI from that. So that's an easy way to pull an roi. And then ultimately the last one is running pay per click ads. So some people do a percentage of your budget. So if you spend $1,000, they're going to charge you 10% of your budget or 20%. Others do a flat fee of 250 to 750amonth, depending on how they structure it. And likewise you can draw an ROI from setting up your goals. And what this allows us to do is see like your Google cost per Click, you got 46 leads that converted into X amount of dollars. And so when we look at an overall holistic standpoint of how much does it cost to hire a digital marketing company or agency, what we see is it's generally costing from $1,500 a month to $4,500 a month. And a good digital marketing company is able to show an ROI and able to use analytics to track growth and then put it back into their content creation. So if you're interested in this, I'll put some links down below to other playlists and other videos that we've created. But be sure to like and subscribe. We post videos to help local service businesses grow. That's what we focus on. And we'll see you all in the next video.