Mad Men brought advertising and marketing agencies back into the limelight, but fortunately, these days there are alternatives to paying the hefty agency prices that kept those bar carts stocked.
Yup, times have changed since the 1960s. We’re now in the gig economy, which means you can hire independent contractors and freelancers instead of spending your money on full-time employees or an agency.
When you work with an agency, there’s an agency markup to help cover business costs. But when you hire a freelancer, they only have to cover the costs of managing their business (which is way less expensive than the cost of operating an agency), so they can afford to offer lower prices. To show you just how much money you can save, we rounded up some real prices to show the cost differential between hiring an agency and hiring a Fiverr Pro.
Every business needs a website in 2018. It introduces new customers to your company, lets people learn about your product or service, and allows you to control what people know about your business.
Agency prices range based on the complexity of the website. You can expect to pay:
– $2,000 to $8,000 for a basic informational website with little customization
– $10,000 to $25,000 for a commercial website with custom design, a content management system, and multiple pages
– $5,000 to $40,000 for an ecommerce website with a content management system
– $25,000 to $40,000 for a website with hundreds of pages, custom design, and a content management system. You’ll also have to find additional agencies for SEO strategy, copywriting, and content marketing.
When you work with a Fiverr Pro team like Jody and Maddie from Socially Adept Solutions, you will spend less than you would with an agency. You will get:
– A website with one to five pages, mobile optimization, and SEO for $1,020.
– A full design of 6–10 pages, mobile optimization, and SEO for $1,800.
– An ecommerce website or site with unlimited pages, mobile optimization, and SEO for $3,000.
Social media marketing
Don Draper didn’t need to Instagram his Old Fashioned, but nowadays having a social media presence is a business must-have – and for good reason. Social media can be used to engage with current and potential customers and clients, manage customer service, drive traffic to your site, and turn customers into loyal fans because they understand the story behind your business.
If you use a social media marketing agency to build your social media strategy, create all of your content, and manage your social media channels, it costs anywhere from $1,000 to $20,000 per month with the industry average being $4,000 to $7,000 each month. And, if you’re starting from scratch, most agencies will make you pay extra to create your profiles.
When you work with Carla, a social media specialist with more than 10 years of experience, you will get a social media strategy, content creation, posting, daily monitoring, reporting, and even social media ad management. Carla’s monthly prices range from $950 for one social media network, $1,450 for two, and $1,850 for three.
Mike Skeehan, founder of the digital marketing agency Salted Stone, shared his agency’s rates. When they onboard the client, the two month set-up fee is $18,000 and the fee for the third month to the 12th is $24,000. The total fee is $42,000 per year amortized into 12 monthly payments of $3,500. Clients receive four content offers such as ebooks, email campaigns, and whitepapers; four marketing campaigns; two blogs posts per week; daily social media posts; calls-to-actions, landing pages, lists, and workflows; and monthly reporting.
Pam Dierks, a marketing strategist on Fiverr with 30 years of industry experience, charges a one-time fee and creates a marketing plan and customized execution plan so you don’t have to pay expensive monthly fees. She charges $2,500 for a marketing strategy report and tailored action plan, $3,500 for that and a customer segmentation plan report, and $5,000 for all the services and a promotional campaign. (Her team will execute your plan or find Fiverr professionals to help for an added cost.)
You don’t have to be a mathematician to know that you get more for your money with a freelancer!
Have you used an agency and switched to working with a freelancer? Share your experience with other entrepreneurs in the comments!