How Much Does Marketing Cost?
I just met with a client who was requesting an RFP for marketing services.
The potential client was asking for success and visibility to launch a new venture nationwide in the United States, which is completely doable! He has a huge vision and an amazing service that we can help him promote and monetize.
One of the aspects he was discussing thoroughly was Digital Marketing.
I understand that many firms now days think social media, blogging and SEO are the trend but I really had to emphasize: "First things first!" Marketing is not only Social Media! There are many channels and aspects to address.
The first question your Marketing agency should ask is:
Do you have a marketing plan? A marketing strategy? Do you know how much a marketing study costs? Do they already have a booklet with a marketing guideline?
I’ll try to explain and answer these questions below. Please take your time and read on, and let me know what do you think!
How much does a marketing plan cost?
Let's start with the beginning: If you want to hire an agency to prepare your
marketing plan, consider the following points before you pay for it.
1. What do you hope to achieve with this marketing plan?
You might be looking for need someone who specializes in marketing strategy if you need help identifying the right customers, streamlining your product or developing competitive strategies. In that case hire a consultant with executive-level marketing experience that relates to your market or industry.
Plan to be actively involved. The marketing team you hire will need access to your company information as well as customer information and also your business strategy. For this task you should expect to pay $2,500-$15,000 and the project could take several weeks or a few months.
If you need help promoting an upcoming seminar, or launching a new service offering. You might need something more basic! If you need help promoting an launching a new service offering or promoting an upcoming seminar you might only need a tactical plan. You may not really need a formal plan. What you really need is a solid project plan with a very clear budget, a timeline and a clear timetable.
It all depends on the scope of the project; such a marketing plan may cost only $1250 – $5,000. These plans do not include implementation.
A professional marketing consultant like a freelance marketer or an agency can assist you.
Contact us if you have further questions! >>> Develop my marketing strategies
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