If you’ve ever wondered how much you should expect to pay for marketing the answer is likely to be more than you might think! Many business owners don’t bat an eyelid when they get a huge bill from their lawyer or accountant but a paying for marketing services is often met with a cry of: “It’s only marketing!”
Let’s put marketing cost into perspective: when done well, marketing is crucial to the success of any business as it will boost sales and build the reputation of your company. With this in mind, paying for a good quality service from an experienced marketing consultant might not seem so bad after all!
If you run a small business and are contemplating hiring a marketing consultant, making that leap of faith can be a difficult decision, especially if feels as though you’re struggling to keep your head above the water. So what should you expect to pay, what will you get for your money and is it worth it?
In terms of what you can expect to pay, this will be determined by a number of factors. For example, if your business is an animation studios in London, you’ll find that marketing consultancy services will be significantly more than if you’re based in the North East. The cost will also depend on what you want to achieve – whether it’s help with a one-off campaign or long-term services to build your marketing strategy.
Marketing consultants working for large marketing firms tend to command the biggest fees and it’s not unusual to pay around £2000 per day for their services. Management consultants in this category will, as a general rule of thumb, have been trained by their firm, have a good degree and will have successfully delivered a number of marketing projects for businesses similar to yours. They’ll also be able to access a wide range of resources and the expertise of marketing specialists within their firm. Marketing for food companies might be a different thing again.
A marketing strategy planner from a reputable marketing firm is likely to charge around £1,500 per day for their services. Most large marketing companies have a strategic planning team and you’d probably work with one of their marketing planners on planning your marketing strategy, for example. One-to-one business coaches usually work with businesses for a day or two each month and although their fees vary, a fee of around £2000 per month is not unusual.
Marketing management consultants are the action men (or women) of marketing and they’ll plan and project manage a marketing campaign for you. Again the fee for this service will vary, but is likely to be upwards of £300 a day and consultants in this category should have the expertise to turn your marketing strategy into a plan of action and to follow this up with a detailed report on the success of the campaign.
Last and by no means least are the marketing consultants who specialise in carrying out the day-to-day drudgery of marketing, such as editing copy or updating your website or social media profiles. At a minimum this type of marketing consultancy service will cost around £150 per day.
According to Leeds based manto.tv, before working with a marketing consultant it’s important to spend time thinking about which is the most appropriate type of consultant for your business and your marketing needs. Get it wrong and it could, in the worst case scenario, ruin your business but get it right and it could help ensure the long-term success of your business.