Table of contents
Content marketing involves the creation, publication, and distribution of valuable and relevant content to attract and retain a specific target audience.
In 2023, content marketing continues to play a crucial role in digital marketing strategies, allowing businesses to establish thought leadership, build trust, and drive customer engagement.
Understanding the cost associated with content marketing can help businesses plan their budgets effectively and allocate resources wisely.
Based on the information gathered from around the web, here's a summary of the estimated prices for content marketing consultancy services in 2023:
| Service | Estimated Cost |
|---|---|
| Comprehensive Content Marketing Package | $2000 - $12,000/month |
| Average Cost of a Content Marketing Campaign | $6,000 - $60,000/month |
| Blog Post Creation | $150 - $6,000/post |
| Infographic Research + Design | $3,000 - $4,000/infographic |
| Animated Infographic Research + Design | Around $7,200/animated infographic |
| Content Marketing (from a digital marketing perspective) | $2,000 - $10,000/month |
| Website Copywriting | $25 - $25,000/page |
| Average Digital Marketing Budget (for SMBs) | $30,000 - $145,000/year |
| Monthly Digital Marketing Plan (for SMBs) | $2,500 - $12,000/month |
| Hourly Digital Marketing Rates | $50 - $500/hour |
| Project-Based Digital Marketing Costs | $1,000 - $7,500/project |
Please note that these are estimates and the actual cost may vary depending on factors such as:
- the size of your company
- the scope of your project
- the specific requirements of your content marketing strategy
- the experience and expertise of the consultancy
- the region/country where the service is provided
In-House vs. Outsourced Content Creation Cost
The cost of content creation is a significant component of content marketing expenses. Businesses have several options when it comes to content creation, each with its associated costs:
Hiring In-House Content Creators
Having an in-house team of content creators provides businesses with more control over the content creation process. However, it requires employing and managing full-time or part-time employees, including salaries, benefits, and other overhead costs.
According to GlassDoor, an average cost of hiring an in-house content marketer varies between $46K and $69K. The average yearly salary for a content marketing specialist is $55,987.
Content Marketing Consultants
Content marketing consultants help companies create and execute a comprehensive content marketing strategy. They provide end-to-end content creation services.
Typically, they work with professional writers, editors, and strategists who can handle the entire content marketing process.
The cost of hiring a content marketing consultant depends on factors such as the scope of work, the agency's reputation, and the level of service required.
Here's an example of pricing for my content consultancy services:
Freelance Content Creators
Many businesses choose to hire freelance content creators on a project basis. Freelancers offer flexibility and can be cost-effective compared to maintaining an in-house team. The cost per project varies based on the freelancer's expertise, experience, and the complexity of the content.
However, content marketing freelancers usually help you with only one narrow aspect of content marketing. While they may be a great extension of your existing team, they probably won't be enough to execute an entire content marketing strategy for you.
If you want to estimate the cost of a content marketing freelancer, you can use websites like Fiverr or Upwork. Usually, freelancers state the rates for their services on their profiles:
You may also reach out to freelancers via LinkedIn or Twitter to discuss an estimated budget for your project in more detail:
Content Promotion and Distribution Cost
Promoting and distributing content is crucial for maximizing its reach and impact. Different strategies and channels require varying levels of investment:
Paid Advertising
Paid advertising through platforms like Google Ads or social media platforms can help businesses reach a broader audience. The cost of paid advertising depends on factors such as the platform, targeting options, competition, and the ad budget allocated.
Social Media Marketing
Creating and sharing content on social media platforms is a cost-effective way to engage with the target audience. While organic reach is free, businesses can also allocate budgets for sponsored posts, influencer collaborations, or social media management tools.
Influencer Collaborations
Partnering with influencers in the industry can help amplify content reach and increase brand visibility. The cost of influencer collaborations varies depending on the influencer's following, engagement rates, and the type of content involved.
SEO
Investing in search engine optimization (SEO) can improve the visibility of content in search engine results pages. SEO costs can include keyword research tools, website optimization, content optimization, and link-building strategies.
Email Marketing
Leveraging email marketing to distribute content and nurture leads requires an investment in email marketing software or service providers. Costs can vary depending on the size of the email list and the features required.
Content Marketing Tools and Software
Various tools and software can aid in streamlining and optimizing content marketing efforts. While the costs vary, it's important to consider the value they provide. Some popular content marketing tools and software include:
Project Management Tools
Project management tools like Asana, Trello, or Monday.com help businesses streamline content creation processes, assign tasks, and collaborate effectively. Prices range from free versions with limited features to monthly subscriptions starting at $10 per user.
Keyword Research Tools
Keyword research tools like SEMrush, Ahrefs, or Moz assist in identifying relevant keywords and optimizing content for search engines. Prices vary depending on the features and the level of access required, ranging from $99 to $999 per month.
Content Creation and Editing Software
Content creation and editing software, such as Adobe Creative Cloud or Canva, provide tools for designing graphics, editing images, and creating visually appealing content. Prices range from free versions with limited features to monthly subscriptions starting at $10.
Analytics and Reporting Tools
Analytics and reporting tools like Google Analytics or HubSpot enable businesses to track content performance, measure engagement, and evaluate the success of content marketing campaigns. These tools are often available for free, with additional features available through premium plans.
Cost-Saving Tips and Strategies
Implementing cost-saving tips and strategies can help businesses make the most of their content marketing budgets:
Repurposing Content
Repurposing existing content into different formats or across various channels can extend its lifespan and reach without incurring additional costs. For example, turning a blog post into a video or creating social media snippets from a longer video can optimize resources.
User-Generated Content
Encouraging user-generated content can reduce content creation costs. User reviews, testimonials, or guest blog posts not only provide fresh perspectives but also engage the audience and build community.
Leveraging Social Media and Organic Reach
Engaging with the target audience on social media platforms and optimizing content for organic reach can help businesses reduce reliance on paid advertising and increase visibility without incurring additional costs.
Long-Term Content Planning
Developing a long-term content strategy and editorial calendar allows businesses to plan content in advance, reducing the last-minute rush and ensuring efficient resource allocation.
Collaboration and Partnerships
Collaborating with complementary businesses or influencers can help share resources and costs. Joint content creation, co-marketing campaigns, or guest blogging are examples of collaborations that can reduce individual expenses.
Take a look at my Twitter thread where I share some more tips about marketing on a budget:
Marketing on a budget is hard.
— Content Kuba | Content Consultant (@contentkuba) May 1, 2023
47% of small businesses spend less than $10K per year for digital marketing.
Luckily — with the right strategy — this budget is more than enough.
Here are 9 techniques to bring more customers to your business without burning money on ads:
Conclusion
In 2023, content marketing will continue to be a powerful strategy for businesses to connect with their target audience and achieve marketing goals. Understanding the cost considerations associated with content marketing allows businesses to plan their budgets effectively, allocate resources appropriately, and maximize the return on investment.
By considering factors such as content creation, promotion, tools, and distribution, as well as implementing cost-saving tips and strategies, businesses can navigate the content marketing landscape with confidence and achieve meaningful results.
FAQs
What is the average cost of hiring a content writer?
The average cost of hiring a content writer can vary depending on factors such as experience, expertise, and project requirements. Freelance content writers generally charge between $0.10 and $0.50 per word, while content writing agencies may charge anywhere from $100 to $500 per piece of content.
Is it possible to do content marketing on a limited budget?
Yes, it is possible to do content marketing on a limited budget. By prioritizing high-impact activities, repurposing content, leveraging social media, and exploring cost-effective strategies like user-generated content, businesses can make the most of their budgetary constraints.
How long does it take to see results from content marketing?
The timeline for seeing results from content marketing can vary based on factors such as industry, competition, target audience, and content strategy. Generally, it takes time to build brand awareness and establish credibility. Consistency and quality are key factors that contribute to long-term success.
What are the key metrics to measure content marketing success?
Key metrics for measuring content marketing success include website traffic, engagement metrics (such as time spent on page and bounce rate), lead generation, conversion rates, and customer acquisition cost. Aligning these metrics with specific business goals helps evaluate the effectiveness of content marketing efforts.
Can content marketing be outsourced completely?
Yes, businesses have the option to outsource content marketing completely. Freelance content writers or content writing agencies can handle the end-to-end content creation process, from ideation to distribution. Outsourcing content marketing allows businesses to leverage external expertise and focus on core competencies.