“According to Glassdoor, the average salary for a single marketing director in New Jersey of a company size 0-50 employees is around $100,000. By hiring an agency like DSM, you can essentially get an entire department of marketing, design, and account management specialists for just about the same price.”
When we pitch a new client, the last slide of our presentation is the one everyone waits for with bated breath — it’s the price tag slide. The cost of hiring a marketing agency is easily the most significant factor you’ll have to consider before pulling the trigger. Getting a price from an agency seems like a simple question, but the answer is a little more complicated. At DSM, our monthly retainers typically cost anywhere between $8,000-$20,000 per month, but nailing down a specific cost depends on how much firepower we have to bring to the table to meet your goals. How much work does our creative team need to do? How many campaigns does our digital team have to set up? What kind of competitors are we going up against in your marketplace?
Let’s dig in.
It is hard for a marketing agency in NJ to tell you what their services will cost because this isn’t a “one price fits all” type of deal—at least, it shouldn’t be. Your marketing strategy should be custom-tailored to your business and your goals. An agency that’s selling a one-price-fits-all solution probably isn’t doing their homework about your specific needs.
For example, a local landscaping company looking to gain new customers might be less expensive, and take less time (I will explain why time is important later), than the pharmaceutical brand that is asking to market their portfolio of products on a national level. There are endless factors that can affect the price like the number of campaigns, the level of competition in the industry, the need for creative solutions and web development, etc.
So first things first, what tactics do a marketing agency need to employ to reach your business goals? Is it graphic design and creative services for ads and product packages?
Digital services for paid search and social media?
Website and content development to generate leads?
Not sure what your marketing goals should be, but know you need help? That’s okay! And perfectly normal.
Determining the Cost of a Marketing Agency in NJ
A marketing agency in NJ with a solid process and a genuine devotion to their client’s success typically comes at a cost.
Like most things in this world, you get what you pay for. Here’s a more in-depth look into the cost of a marketing agency in NJ from both sides of the net.
The Client’s Point of View
From the client’s point of view, they want an agency that can drive results and provide a great return on their investment.
In some cases, clients don’t have much input and are okay with not being involved in every single decision. Others want to collaborate with the agency and be more hands-on. Both types of clients can be successful when partnering with a marketing agency in NJ.
However, remember two things:
- Time is money. Be sure to keep healthy communication. Marketing is fast-paced and poor communication can slow things down.
- Trust is key. Have some faith in the agency you chose. It is essential to know that the agency becomes a part of your team when you sign a contract. We need our efforts to grow your business, or else we get kicked to the curb.
To give you a bit of a benchmark, here is what a recent contract looked like for a company seeking the following from DSM; account services, strategy planning & execution, digital, content, and creative:
- Monthly Hours: 35 hours
- $250 Hourly rate
- Monthly Retainer: $8,750 (plus $2,500/month paid media spend)
- Total annual investment excluding Ad Spend: $105,000
- Engagement Length: October 1, 2020 through September 30, 2021
The Marketing Agency’s Point of View
From the agency point of view, we offer you a dedicated marketing department that provides account services, strategy planning & execution, content creation, and creative services. Again, not every client needs every service we offer; therefore, these offerings can change.
However, what does not change is that you are getting a team of people laser-focused on an integral part of your company’s growth.
Allow me to give you some reasonable perspective on this.
According to Glassdoor, the average salary for a single marketing director in New Jersey of a company size 0-50 employees is about $100,000. By hiring an agency like DSM, you can essentially get an entire department of marketing, design, and account management specialists for just about the same price.
How Do We Determine Our Costs?
A good marketing agency in NJ should take you through a discovery process to determine exactly what you’re looking to achieve and to make sure you’re a good fit for each other. When you schedule a discovery call with us, we’ll ask questions like:
- What specific business goals do you need us to achieve? Is it a certain number of leads each month, or maybe a revenue goal?
- What makes you better than your competitors? What makes your competitors better than you?
- Describe your ideal customer. Why do they need you? Where do they go to get a solution like yours?
Questions like these help us put together a custom marketing proposal designed to meet your specific business goals. Some of our clients just needed help optimizing their existing Google Ad campaigns. Others need to take their first leap into expertly targeted social media ads. A proper marketing strategy has a robust mix of marketing tactics in play simultaneously, including PPC, SEO, paid social media, email marketing, print, and traditional advertising—you get the idea. But with more moving parts to manage, costs tend to go up.
I think seeing it from both sides of the net is the best way to answer the question, “what is the cost of hiring a marketing agency in NJ?”
An agency is a very considerable investment; we understand that. However, when you hire an agency, the team starts playing on your side of the net and will scratch tooth and nail to help your business grow!
At the end of the day, you should be looking for an agency that your gut tells you to trust; that has developed a great rapport with proven examples and strong results from past and present clients.
At DSM, we firmly believe we check all these boxes. You’ve made it to the bottom of the page. I would say a call with our team would be a great next step! We would love to meet you, and at the very least, we can help you understand your marketing goals and get you pointed in the right direction!