One of the first questions that a potential client of ours ask when engaging our company is "how much does inbound marketing cost?" At first, the answer is "it depends". It depends on a number of factors, but i would bet that the reason why you are reading this post now is because you want to know! Its for this reason that i will lay out a typical breakdown on the costs of Inbound Marketing.
Up Front Costs of Inbound Marketing Services
The up front costs of the inbound marketing strategy are a one time charge those that are required for each and everyone of our clients. They include the following:
- Kickoff Call: This is typically a 1 hour meeting with prep time to engage the client and meet with all the key players in the initial development of the program
- Research: We do the legwork by identifying the right keywords to focus around your blog posts and marketing campaigns. The right keywords are the foundation of a successful inbound marketing campaign. We also research your competitors to gain insight on your industry. This overall up front hours for this portion is between 10 hours.
- Buyer Personas: We provide the development of 3-5 personas so that we can generate content for the right audience. Its allows the client to generate the appropriate content and stay focused on their intended audience. This typically requires some research and interviews with staff of the client as well as their customers. This typically requires about 15 hours of up front costs.
- Generating a Game Plan: Any successful project worth doing requires a blue print of what the project is going to look like from day 1 to monthly goals and objectives. These are developed according to each client's needs and typically requires about 10 hours of time.
Monthly Services and Costs of Inbound Marketing
Ok, we've gotten through the initial setup and have determined what keywords to use, who your buyer personas are and are looking forward to implementing these strategies. This is where the fun begins as we start to generate the content that gets you to be the though leader in your industry. Whether it be a sleep center, orthopedic group, or a multi-specialty clinic, we have the skills to get you there! The monthly services are as follows:
- Blogging (a minimum of 2 per week): Our staff does the research, writing, editing, and uploading each article into your portal. This includes the development of the editorial calendar which is presented at least 3 weeks in advance to our clients to determine the best content based on time of year, offers, and services/products that are of importance to our clients. Blogging is arguably the most important part of your inbound marketing strategy and is the most labor intensive portion of the services and is typically billed at 24-28 hours per month.
- Social Media Marketing: Its important to get the message out consistently through all of your social platforms such as Twitter, Facebook, LinkedIn, and Instagram. So we work to push out all of your blog articles across all of your social channels with an understanding of their unique context. We typically allocate about 3 hours per month for social engagement in this manner.
- Reporting and Regular Monthly Webex calls: Reporting is based at a minimum of monthly reports demonstrating the ROI on the services that we are providing. We provide analytics through the HubSpot platform (more can be found by clicking here) to include website traffic (organic, social, direct, PPC, and email marketing), leads, and customers. Its important that our clients leverage the customer feature of the reporting so we can also demonstrate ROI by showing how much revenue a specific article generated. The monthly rate for this is 3 hours.
Quarterly Inbound Marketing Fees
We typically provide additional services that are generated once a quarter starting at month 3. These services are done quarterly, because as content is being built we leverage that content and generate more leads and sales by creating ebooks and other offers. These services are broken out below:
- Content offer: These can be based on the culmination of previous blog articles (ebook) or an industry white paper. We have also leveraged free consultations as an offer for our medical clients in the past. These are the value propositions that you are able to provide to your readers and is typically where your leads are generated. The quarterly rate is 12 hours or 4 hours per month.
- Call to Actions (CTA): these are the actionable icons that promise an offer with instructions on how to take you up on that offer. We have described the call to action in a previous blog post titled "5 Critical Things Too Many Medical Websites Are Missing". These are typically billed at a rate of 3 hours per quarter or 1 hour per month.
- Landing Pages: Landing pages are different from site pages in that they exist solely for the purpose of capturing a visitors information through the use of a form, and thus converting them into a lead. CTA's are often the gateway to a landing page. Visitors see a unique offer such as a free e-book, click on the CTA, and are then taken to a landing page where they submit a form to receive the offer. These are typically billed at a rate of 6 hours per quarter of 2 hours per month.
- Thank You Pages: There are several reasons why a "thank you" deserves it's own page rather than being found on the landing page of the offer. Thank you pages should be used to reinforce the value of they offer they just received and explain how they will receive the offer. These are typically billed at a quarterly rate of 6 hours per quarter or 2 hour per month
- Workflows/Automation: What good does it do if you have received all of those leads through a permission based model like we have described only to let them go by the wayside. This is the opportunity to nurture your potential customers by providing them with additional offers that push them further down the marketing funnel. After all each buyers journey is a little bit different and may take some additional reminders about why your services are so great! The typical quarterly rate is 9 hours per quarter of 3 hours per month.
Total Monthly Rate: 12 hours
Total Monthly Inbound Marketing Cost
Being that most of our clients are encouraged to engage in an annual contract to get the benefits of a successful inbound marketing campaign (please read this example as to how well it works), we have broken down the typical fees and based them on the industry average of $125.00 per hour rate.
- Up Front costs: 36 hours divided by 12 months = 3 hours per month
- Monthly Services: 30-34 hour per month
- Quarterly hours: 12 hours per month
- Total Monthly hours: 45-49 hours per month x 125.00
- Total Monthly Cost: $5625.00 to $6125.00
Other Considerations and Discounts
One of the final considerations is whether your actual website itself is up to snuff when it comes to all things inbound. While we can leverage almost any existing website for the purposes of creating a way to inbound marketing, it might be recommended that your site be migrated to the HubSpot COS platform. We have a partners that we work with for this very thing.
We currently are offering some substantial end of year discounts. So email me today firstname.lastname@example.org to schedule a time or ask any questions that you might have about costs, services, or anything inboundy (yep that's a word). Or simply click on the CTA below to enjoy your complimentary ebook on Lead Generation Tips, Tricks and ideas!