From blog content and PPC costs to search engine optimization and website design, inbound marketing can bring with it a host of expenses, which can vary widely based on business size, needs, and industry. Here's a breakdown of what you can expect to pay.
Inbound marketing is a long-term, ongoing practice and includes several moving pieces: Strategy and planning, software, website design, content creation (written and video), social media, paid media, and coaching and training.
Strategy and planning can cost you anywhere from $50-125 per hour for a freelancer to $86,000 for hiring someone in-house.
Software costs begin at about $200 a month.
Website design costs can start at a few hundred dollars and go up to $75,000.
Written content creation can range from $75 per article to a $61,000 salary.
Hiring a videographer in-house usually entails an average salary of $48,000.
Project-based SEO services begin at $3,500.
Paid media can range from $10,000 to $100,000+.
Training and coaching can range from $8,500 to $15,000 a month.
Inbound marketing is like office space, employees, or even a loan. It's an investment in your business’ future.
Adopting it into your organization has its price tag, no doubt, but like any smart investment, it ends up paying for itself in not only ROI, but competitive advantage as well.
There are so many moving pieces and tactics to consider and a wide range of costs within them, it can be difficult to gauge what kind of monetary commitment you’re taking on. But I know, I know — that doesn't answer the question at all.
What does inbound marketing cost?
Unfortunately, the answer to this question is as annoying and ambiguous as you expect: it depends.
Implementing an inbound marketing strategy is a long-term, ongoing commitment, especially with a framework like They Ask, You Answer.
Once you kickstart your program, many costs will be recurring indefinitely, and even those that don't can vary greatly depending on the types of strategies you want to implement, whether you're outsourcing or insourcing, and how quickly you want to see results.
In this article, we’ll break down everything you need to know about how much inbound marketing costs in 2022 including:
Why inbound marketing is worth the investment
What goes into the cost of inbound marketing
The cost differences between different types of implementation options
The cost of working with an inbound marketing agency
Let’s start from the top.
Free Guide: The Ultimate Inbound Marketing Strategy Playbook 2022
Why inbound marketing is worth the investment
Let's take a look at some statistics that show the prevalence of inbound marketing today.
According to The CMO Survey, around 72% of marketing chiefs said the “importance of marketing” has grown in their companies over the last year.
HubSpot reports that 70% of marketers actively invest in inbound marketing, with roughly 60% saying inbound was "very important" or "extremely important" for their business.
The data shows that inbound marketing is more cost-effective than outbound marketing, has a better long-term ROI, and builds better customer relationships.
It's little surprise, then, that businesses overall are steadily increasing their inbound marketing spending.
Years ago, business owners doubted the internet, saying it was only a fad. Then they doubted email marketing, followed by search engine marketing, then social media — but look at all of them today.
Presidential campaigns are won and lost on social media, YouTube and TikTok sensations are making millions, and blogs are marketing staples.
Inbound marketing methods are proving their effectiveness more and more each year and, in turn, justifying the costs discussed below.
What goes into the cost of inbound marketing
Okay, time for the specifics.
Since the costs of inbound marketing can vary so widely, we're going to provide average prices based on the assumption that you want the highest-quality work.
You can very well go to Fiverr and get someone to write a $10 blog post for you, but it likely won't be the quality content you need to win over readers or rank in search engines — and the same goes for almost every inbound marketing task.
You also must take into account the amount of time it takes to start seeing results from inbound marketing.
Realistically, an effective inbound marketing campaign takes a few months to produce substantial traffic and leads, and this relies heavily on getting content indexed by Google. If you're just beginning to build an online presence, this process can take quite a bit of time.
Overall, inbound marketing is not a methodology for those who don't have time to spend.
Strategy and planning costs
Successful inbound marketing, like all business endeavors, requires a strategic approach. There's a lot to consider when developing your inbound marketing game plan, such as:
Target audience research
Your value proposition and market positioning
Your brand identity and messaging
Your marketing objectives
According to PayScale, an experienced marketing strategy consultant earns an average salary of $86,000. Marketing strategy freelancers on Upwork with a high job success score have rates that range from $50 to $125 per hour.
If your business doesn't already have a solid inbound marketing strategy in place, you can expect to pay anywhere from $1,000 to $10,000 in consulting fees, depending on the experience of the person/agency you work with and how much you want them to plan for you — and ongoing consultant fees can cost even more, but are worth every penny.
Marketing automation software and tool costs
While marketing automation software isn't mandatory, it does make executing and analyzing inbound marketing significantly easier.
At IMPACT, for example, we use HubSpot for all of our marketing automation. It allows you to control every aspect of your marketing funnel (email, social media, landing pages, forms, blogging, etc.) on one platform and in turn, see how each piece interacts and performs, but there are other similar alternatives available.
For any of them, you can expect to spend as little as $200 per month to a few thousand dollars per month, depending on your plan, your business size, and how extensive you need the service to be for you.
In addition to marketing automation software, we'd recommend using a customer relationship management system (CRM). While the HubSpot CRM is available for free, the industry-standard Salesforce ranges from $25 per user per month to $300 per user per month.
The cost for your needs could fall anywhere along a large spectrum, so be sure to look closely at pricing information and feature listings to make sure you're getting what you need.
Depending on your inbound marketing strategy, you may also find yourself in need of creative software (i.e. design and video editing), testing tools, and social media tools among other things.
Website design costs
Everything you do in inbound marketing is aimed at one goal: bring prospects to your website and convert them into leads and customers.
Your website needs some key features such as a blog (or what we call a Learning Center), landing pages with forms and calls-to-action, among other things, to be equipped for inbound marketing success. If you already have these elements, great! But if you don’t you may need a website built or redesigned.
A poorly-designed or performing website can send prospects running back to their search results. Even if someone is interested in what you have to offer, poor user experience or glitches in your design can prevent or deter them from doing business with you.
If you already have a modern website with a clean design that's also mobile-friendly, you might only need a few tweaks and some updates to the content, but if not, it might be time for a website redesign.
"Building or redesigning a website yourself with a template is usually the cheapest option. It can range anywhere from a few hundred dollars to $3,000 or more, but the real “cost” here is the time and hassle required.... New startups with limited budgets and no web developer often have to start small. ThemeForest offers tons of affordable website themes (especially for WordPress) to choose from that usually cost around $30 to $100."
Hiring a freelancer
"Depending on what your goals are, you’ll be able to find a freelancer that will charge anywhere from $2,000 to $5,000 for a simple website and upwards of $10,000 to $20,000+ for a bigger website with a variety of template designs, custom features, and a more professional aesthetic than you may be able to create on your own."
Hiring an agency
"A simpler website redesign with an agency can run anywhere from $15,000 to $30,000 depending on the size of the site, whereas websites with a large page count, custom functionality, and more unique needs can cost between $40,000 and $75,000+."
It's also important to keep in mind that, in reality, your website should never be considered "finished."
As your business grows and changes, your website must reflect this. You will want to take user data into account when updating your site.
Increasingly, design agencies are employing a growth-driven design model that front-loads design and development work and then moves to a retainer model so that agency experts can tweak and adjust your site as user data dictates.
According to Vin, "You can expect anywhere from $5,000 per month to $10,000 per month on growth-driven design with an agency depending on how aggressive your goals are and how much focus you’re willing to put into research and updates."
In addition to the design costs, regardless of which option you choose, you need to consider long-term website management. You may find that you need internal talent to manage your website and handle minor design and development needs.
Content creation costs
Content is the most time-consuming part of the process, but also one of the most important. Once you've got your inbound strategy in place, you'll need to publish content on a regular basis.
While many companies are quick to outsource content creation, that's often a bad idea. Working with an agency means your publication cadence will be limited, as well as your number of revisions, and frankly the quality and authenticity of your content.
You want your content to sound like your business. When it's outsourced, that's harder to control.
Over the last decade, we’ve helped hundreds of companies realize a content strategy isn’t just something that can be outsourced or thrown onto an existing team member’s plate on top of other priorities. It needs to be the sole focus of someone in-house.
To make sure you’re creating the consistent, high-quality content you need to drive traffic, leads, and sales, the They Ask, You Answer framework preaches that you hire someone who can own the content production side of your inbound marketing. We typically call this a content manager.
Obsess over creating high-quality content that accurately reflects the true tone and spirit of your brand.
Interview your company’s subject matter experts and capture their insights (and your company’s unique perspective) and integrate it into your content.
Work directly with the sales team and help them integrate content into the inbound sales process, allowing them to close more deals faster.
Monitor your organic search performance and routinely improve ranking and traffic results.
Update existing content to ensure it remains relevant and effective.
Oversee the other areas of your sales and marketing initiatives where content is critical (including your website, email, and social media).
Work across departments and act as a central role between leadership, sales, marketing, and business development.
Ensure everyone in the company is meeting their deadlines for content, including the boss!
According to PayScale, a content manager has an average salary of about $61,000, depending on experience.
If you opt to outsource, you might work with freelancers or writing services like Verblio. On average, you can expect to pay $75 to $150 per post for quality content.
Depending on how much content you want to publish, you can expect the cost of high-quality content production to run anywhere from a few hundred dollars a month to several thousand per month.
Content doesn't just refer to the written word. Customers today want to see video content as well. Plus, with 84% percent of people saying they’ve been convinced to buy a product or service by watching a video, not adding video to your toolkit is like leaving money on the table.
In addition, an overwhelming 92% of video marketers feel the level of noise and competition has increased in the last year. If you don’t start creating videos that help your buyers make smart purchasing decisions, your competitors will win the business. Don’t get left behind.
Your immediate reaction upon reading this is very likely the same one we’ve heard from many business owners and managers over the years: “Why would a business like mine ever have the need for a full-time videographer? Are there really 40 hours of work per week for such a position in my niche?”
We’ve worked hand-in-hand with organizations across a wide range of industries to implement video, and never have we seen a situation where someone said, “You know, there simply isn’t enough work here for a videographer to work full-time.”
Between educational videos for your website and YouTube and sales enablement videos used by reps to close deals faster, there is certainly no shortage of video content to create.
An in-house videographer will allow you to produce the video content that truly builds trust with your buyers by directly addressing their questions.
When companies outsource video, they pay a premium for a small number of highly-produced videos. Working with an outsourced videographer will vary from project to project and be subject to length and services needed, but it wouldn’t be unrealistic to expect to spend at least $750 per video.
Search engine optimization (SEO)
You want your great content to get found by search engines and by potential customers.
If you want to hire a full-time SEO specialist, you can expect to pay a salary beginning at around $48,000, but you may just opt for an external expert to audit your site once a year or so.
Once your main website is optimized for search engines and you've done your local SEO (if applicable), you may be able to handle on-going keyword optimization on your own. But if you're considering paid search ads, you may want to start with an expert as well.
If you're looking for more advanced, technical SEO intel, this cost is likely to increase, but you can also get project-based support for around $3,500.
When used effectively, social media is an incredibly powerful engagement tool.
As more social networks pop up and your potential customers spend more of their time on them, the need for smart social content from your brand increases.
Contrary to popular belief, it's not simply something you can hand off to an intern or "tack on" to another marketing job.
To execute an effective social media strategy, you need a full-time team member to create/curate content and engage with followers in a timely manner.
On average, experienced social media managers earn a salary of $69,000. Top-ranked social media managers on Upwork usually charge between $30 and $50 per hour for freelance work.
Paid media and ad costs
Speaking of social media, paid media is one of the most critical pieces in any inbound marketing strategy today, especially on Google and Facebook.
Unless you have a lot of experience working with PPC ads, it's usually more cost-effective to hire an expert consultant or an agency to manage your PPC campaigns for you.
Full-time PPC managers get paid an average salary of $55,000, but this number is steadily increasing. You can also work with an agency, which, depending on your goals, can range anywhere from $10,000 to $100,000+.
Your dedicated coach and trainers will design a program suited to your needs, helping you with everything from high-level strategy and HubSpot onboarding to content planning, content manager training, videographer coaching, and sales training.
After an average of 12-18 months, you complete the program and have the skills and experience to own your inbound marketing from then on. No relying on an inbound marketing agency forever.
IMPACT coaches explain:
Digital sales and marketing mastery will cost between $8,500 and $15,000 a month. The range depends on how fast you’re looking to reach your desired outcomes, as well as individualized recommendations provided by an IMPACT coach. The faster you move, the more comprehensive training and value will be provided each month.
Hiring an inbound marketing agency
Since inbound marketing requires a lot of time, and many businesses don't necessarily want to build their own in-house team, they often turn to marketing agencies to handle the work for them.
Inbound marketing services from an agency offer several advantages:
Access to experts in different areas of inbound marketing
Can cost less than hiring an in-house inbound marketing team
Offer the ability to hit the ground running and get results quicker than figuring things out yourself
The cost of an agency will vary based on what you're looking to accomplish.
Inbound marketing agency pricing according to your goals
As a company with aggressive goals, you can expect to pay anywhere from $10,000 to $20,000 a month or even more. The more ambitious your goals are, the more money you will need to provide to effectively meet and reach those goals.
A great way to determine the success of your inbound marketing campaign is to look at your return on investment. Let's say you're going to pay $20,000 a month for the next twelve months to grow your company's revenue 25%, from $4M to $5M.
Now you might be thinking, that is a lot of money; is $240,000 actually worth it?
Use the following equation to calculate your return on investment from inbound marketing:
(Gain from investment - Cost of investment) / Cost of investment
Using that calculation, your ROI would be ($1,000,000 - $240,000) / $240,000 = 316%
As a company with more moderate goals, you can expect to pay up to $5,000 a month. You may or may not have the budget to drastically increase the sales of your company, but you can begin to develop relationships with potential customers and generate more qualified leads to your site.
Depending on your preferred investment, use the formula above to calculate the expected ROI.
Inbound marketing cost: You get out what you put in
Inbound marketing offers your organization the opportunity to build meaningful connections with prospects based on trust and transparency.
Rather than blasting your message to broad populations, inbound marketing lets you target customers who are actively looking for solutions like yours.
However, inbound is often about playing the long game. It can take time to rank in Google. It can take time to build a social media presence. All the more reason to get started.
Whenever possible, you should consider building an internal team for this initiative. Having your content production take place in-house, for instance, allows you to truly "own" the content process — and you can be much more nimble as a result.
The beauty of digital marketing and content marketing is that it presents a much more level playing field for businesses of all sizes. If you're willing to invest in a team (and invest in their training), you can outrank the big boys — provided that your content really connects with buyers.
Use educational resources to help get you there. In our online community and learning platform, IMPACT+, we offer free courses to help you build and scale your inbound marketing efforts, with information and insights from industry thought leaders and experts.
With the right team and the right knowledge, inbound marketing can revolutionize the way your business operates. It is an investment, to be sure, but one that is sure to bear fruit if you approach it in the right way.