Do you ever wonder how much does it cost to hire small business marketing SEO services in Australia? Online marketing is also known as SEO. It is too famous that almost all businesses want to hire these professionals. SEO professionals promise to bring in more customers to increase your sales.
An SEO agency can help you reach your target audience by creating an effective marketing strategy. Their services include social media marketing, digital marketing, online marketing, creation of marketing campaigns, and many more. The marketing agency will then charge your company for the service that they provide per month.
How Much Should I Charge For Marketing Services?
If you are looking for an actual figure, we are sorry to tell you that you cannot find it here. This blog is to guide you on how you can fix the price of your work as a marketing agency and what are the factors that you need to consider in determining your price.
- Web design
- Social media marketing
- Online marketing
- Digital marketing
- Creation of marketing campaigns
The cost of the SEO services in Sydney or any other state in Australia varies depending on the customer’s requirements. One of the most critical decisions you have to make is what price to ask for your services. Business owners will lose customers if they decide to charge too much. On the other hand, charging too little will also hurt your marketing agency.
According to the Law of Supply and Demand, as the price of the product increases, the competition between companies which offer marketing services also increases. The downside is, the demand goes down. This is where the competition becomes tricky.
Your marketing agency needs to determine the best price that will attract business owners who may hire a marketing agency. Always remember that budget plays an important part. Your team needs to research pretty well to study the cost of your competition.
Based on experience, we ask our fellow SEO marketers on how much do they usually charge for a project. This is the only way for you to gauge on what to offer for a competitive price in digital marketing. Do not be tempted to offer a rock bottom rate to win a bid. It could be a red flag for other customers because the low price may mean cheap services.
It may be true that you need to consider the budget but do not go overboard by giving the most affordable rate a digital marketing company can go.
Always consider being in the median price. Customers will not know the real cost of the services you offer. Most of the time, they will collect three or four quotes for a project and will always go with the company who offers between the cheapest and the most expensive services.
Costs to Consider in Running SEO Services in Australia
Your price per month is based on many factors. Here are some of the components that you need to consider each time you decide on what cost will you charge for the services you offer.
Salary and Wages
Marketing agencies heavily rely on the workforce. The services that we are offering on the market need programmers, graphic designers, and content writers. These people often work as a team to make an integrated marketing strategy successful. Your small business should be ready to pay these people with decent wages. Apart from the salaries, you can also consider adding the cost for insurance, health benefits, incentives, and other monetary rewards that can boost your employee’s morale.
You need to get a space for your employee. That’s the number one requirement for you to operate as a business. If you cannot afford to rent an area of your own, you can start co-sharing spaces with other professionals.
There are a lot of places that offer lease to these kinds of work arrangements. You can look for a local coworking space in your area because this set-up is available throughout Australia. Renting a working space is more affordable than getting your own office. When you choose to rent your own office, you will also have to think about other things like purchasing desks, chairs, printers, and all other things an employee should need.
Software and Other Programming Tools
Same as salary and wages, software and programming tools are the heart and blood of every marketing agency. You need to bank on superior software and tools that can help you deliver the services you promised to your customers.
Most of the programming tools require a monthly subscription, which can quickly rack up your expenses per month.
Permits and Insurances
You need to pay your government-mandated licences to operate a business. This is something that you should not leave at the backseat if you want to manage your business smoothly.
Like any other business, you still have to advertise your services. You need to market your own company. This too translates to cost for you. Your digital marketing company is expected to run effective ads that can entice customers and prove that you know what you are doing in digital marketing. The marketing budget is a variable expense for digital marketing companies like us.
Different Price Presentation in Digital Marketing
There are different ways on how a marketing agency presents the price for a project. If you are new in the business, please read through and analyze which of these pricing models fit you.
This type of pricing model can be used if your clients find your rate a little over their budget. You can tailor-fit your price depending on what type of services do they need. Small businesses typically follow this pricing because it is beneficial for them. In following this model, you are giving more flexibility to your customers. For example, if your customer does not need web design and only wants a marketing campaign, then, they do not need to pay for the web design. Your team does not have to waste time, and you can maximize the program based on the budget that was given to you.
Pricing Based on Value
This type of model can be challenging because a marketing agency like us cannot promise consistent value all the time. The recipe for effective digital marketing depends on many factors, and it changes frequently.
Social media alone updates its algorithm regularly. In other words, your customer will pay you depending on the value that you bring to their company.
Pricing Based on Performance
If you have established your reputation and you have a strong profile to bank on, you can consider pricing your services based on performance. In this, your digital marketing agency will be paid depending on the positive influences that you bring in to your client’s business. It can be through web design or SEO services.
Small businesses like to take advantage of this pricing model because some SEO companies cannot live up to their expectations and the business ends up paying less.
Some services that a digital marketing company offers requires routine maintenance. A perfect example of this is SEO services. We all know that Google changes its algorithm regularly, and you need your digital marketing experts to look after these things.
Your team will be the one to make sure that your customer will always get a better ranking on Google because they are paying you to do it.
Web design is also one of the things that need maintenance. You need to make sure that your website looks attractive and neat all the time. You also need to check how it appears to all different devices. Small businesses usually get into this pricing model because they believe that SEO services can help them broaden their market and ace the sales that they have all been dreaming about.
In this pricing model, the digital marketing company will charge a flat rate depending on the customer’s requirement. The customer can name their marketing budget, and the small digital marketing company can identify which services will be included in this project.
It can be social media marketing and web design, or your team will only be asked to do web design and SEO services. In this model, customers can see the results first, and it will be up to them if they want to increase their budget to add more marketing services that your marketing agency offers.
This is one of the traditional ways of determining the cost of services regardless of what industry you are in. Your marketing agency needs to establish an hourly fix rate, and you need to record the working hours your staff had spent on a project.
In Australia, most of the businesses hire a marketing agency to do web design, SEO services, and other marketing services like social media marketing.
Price can be an indicator of the quality of your work. Low prices can never be a successful business strategy. Always remember that your audience can interpret that as low price equates to poor quality. If you would like to use your cost as your leverage in the competition, your business needs to plan this onset. You need to keep track of your overhead expenses as low as possible while proving to your customers that your services are reliable.
Many SEO services in Australia are operating successfully by serving several small, mid-sized and large businesses, therefore you need to keep a strong strategy to have established your business brand in Australia. For what is worth, we firmly believe that as soon as you set your reputation, you can prove yourself to the market and let your customers speak about your services. Only then, you really can say that you are making your pricing genuinely based on the services that you provide.
Talk to your customer. You can call us if you need more information about how to run a small business that focuses on marketing. We have plenty of experience and tips to share with you. Ask your customer a straightforward question and have them determine their budget before giving your recommendations.
Do you agree with me? How do you feel about your SEO services? Are your customers satisfied with the results?
Businesses will always need marketing to increase their sales. It can be through web design or SEO services, or other marketing means your company has to offer. Please share with us what your most effective approach in determining the price of your services and which among these pricing models work for you best.