Benchmarking Agency Rates

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Benchmarking Agency Rates

In the United States, 137 Marketing Agencies were under the category of SEO firms. 40.63% of US digital marketing agencies charge between $101-$150 per hour, while 29.17% of the US digital marketing agencies charge between $151-$200 per hour. Below are our deep findings.

A. ANALYSIS OF THE SURVEY DATA, SPECIFICALLY FOCUSSED IN AGENCY RATES FOR CREATIVE. DIGITAL ADVERTISING & MARKETING AGENCIES:

--SEO FIRMS:

US SEO firm single project minimum

-In the US, 137 SEO firms were surveyed:
  • 16.06% of 137 SEO firm i.e. 22 firms earns a project minimum of under $1,000
  • 27.01% of 137 SEO firm i.e. 37 firms earns a project minimum of between $1,000-$1,999
  • 23.36% of 137 SEO firm i.e. 32 firms earns a project minimum of between $2,000-$2,999
  • 6.57% of 137 SEO firm i.e. 9 firms earns a project minimum of between $3,000-$3,999
  • 2.19% of 137 SEO firm i.e. 3 firms earns a project minimum of between $4,000-$4,999
  • 19.71% of 137 SEO firm i.e. 27 firms earns a project minimum of $5,000+
Analysis: In the United States, 137 Marketing Agencies were under the category of SEO firms and project earning was maximum. 37 SEO firms from these marketing agency earned a project of between $1,000-$1,999, whereas, 9 firms earned a project minimum of between $3,000-$3,999.

AVERAGE MINIMUM MONTHLY RETAINER BY SEO FIRM

  • 18.25% of 137 SEO firm i.e. 25 firms earns a minimum monthly retainer of under $1,000
  • 29.93% of 137 SEO firm i.e. 41 firms earns a minimum monthly retainer of between $1000-$1,999
  • 20.44% of 137 SEO firm i.e. 28 firms earns a minimum monthly retainer of between $2000-$2,999
  • 12.41% of 137 SEO firm i.e. 17 firms earns a minimum monthly retainer of between $3000-$3,999
  • 2.92% of 137 SEO firm i.e. 4 firms earns a minimum monthly retainer of between $4000-$4,999
  • 10.22% of 137 SEO firm i.e. 14 firms earns a minimum monthly retainer of $5,000+
Analysis: The minimum monthly retainer of $1000-$1,999 is the maximum for 29.93% of SEO firms, whereas, the minimum monthly retainer of $4000-$4,999 is the lowest amount that was being paid to 4 SEO firms.

--PPC AGENCIES

AGENCY PROJECT MINIMUM

  • 17.39% of 69 PPC firm i.e. 12 firms earns a project minimum of under $1,000
  • 26.09% of 69 PPC firm i.e. 18 firms earns a project minimum of between $1,000-$1,999
  • 20.29% of 69 PPC firm i.e. 14 firms earns a project minimum of between $2,000-$2,999
  • 5.80% of 69 PPC firm i.e. 4 firms earns a project minimum of between $3,000-$3,999
  • 1.45% of 69 PPC firm i.e. 1 firm earns a project minimum of between $4,000-$4,999
  • 21.74% of 69 PPC firm i.e. 15 firms earns a project minimum of $5,000+
Analysis: In the US, 69 PPC firms were surveyed, out of which 18 firms earn a project minimum of between $1,000-$1,999, whereas, the lowest project minimum is between $4,000-$4,999 for just one firm.

AVERAGE MINIMUM MONTHLY RETAINER BY PPC FIRM

  • 21.74% of 69 PPC firm i.e. 15 firms earns a minimum monthly retainer of under $1,000
  • 26.09% of 69 PPC firm i.e. 18 firms earns a minimum monthly retainer of between $1000-$1,999
  • 18.84% of 69 PPC firm i.e. 13 firms earns a minimum monthly retainer of between $2000-$2,999
  • 13.04% of 69 PPC firm i.e. 9 firms earns a minimum monthly retainer of between $3000-$3,999
  • 4.35% of 69 PPC firm i.e. 3 firms earns a minimum monthly retainer of between $4000-$4,999
  • 13.04% of 69 PPC firm i.e. 9 firms earns a minimum monthly retainer of $5,000+
Analysis: 26.09% of 69 PPC firm i.e. 18 firms earn a minimum monthly retainer of between $1000-$1,999, whereas, only 4.35% of 69 PPC firm i.e. 3 firms earn a minimum monthly retainer of between $4000-$4,999.

CREDO ANALYSIS:

  • Later in 2019, another survey was conducted which comprise answers from 271 marketing agencies and consultants across the United States, United Kingdom, and various other countries.

Analysis: With the helpful findings, it was found that 62% of respondents were agencies and 38% were solo practitioners and the maximum number of respondents were based out from the US i.e. 55.72% were US-based. It was also found that 80% of the digital marketer have more than 5 years of experience. Thus, they are well versed with their line in terms of work and creativity, whereas, less than 50% of agencies have less than 5 years of experience.

B. HIGHLIGHT ANY FINDINGS SPECIFIC TO HOURLY RATES FOR SPECIFIC JOB CATEGORIES, AND / OR AGENCY TYPE (e.g.: Designer = $X/hour Creative Director = $Y/hour SEO Agency = $Z/hour):

SEO AGENCIES:

Analysis: SEO agencies in the US takes an hourly charge between $101 -$200 per hour depending on the type and level of work, while more than 70% of SEO firm takes on an average of $101-$200 per hour.

PPC AGENCIES:

Analysis: PPC agencies in the US take an hourly charge of between $50- $200 per hour depending on the type and level of work, while more than 70% of SEO firm charge an average of $101-$200 per hour.

DIGITAL MARKETER :

Analysis: The average hourly rate charged by digital marketers in the US = $167.28 per hour, whereas, the maximum digital marketing agencies charges between $101-$150 per hour.

CREATIVE DIRECTOR:

Analysis: 70.49% of Facebook ads agencies charge between $100-$200 per hour.

C. OVERVIEW SHOULD ALSO INCLUDE A BRIEF DESCRIPTION OF THE SURVEY RESPONDENTS (as found in the demographics section of the report).

These survey results comprise answers from 271 marketing agencies and consultants across the United States, the United Kingdom, and various other countries.

SIZE OF COMPANY BREAKDOWN:

Out of 271 companies:
  • 38.38% of 271 companies i.e. 104 companies have a company size of 1 employee.
  • 25.83% of 271 companies i.e. 70 companies have a company size of 2-5 employees.
  • 8.86% of 271 companies i.e. 24 companies have a company size of 5-10 employees.
  • 7.38% of 271 companies i.e. 20 companies have a company size of 11-20 employees.
  • 10.33% of 271 companies i.e. 28 companies have a company size of 21-50 employees.
  • 9.23% of 271 companies i.e. 25companies have a company size of 51+ employees.
Thus, 38.38% of total respondents are solo practitioners i.e. consultants and 61.62% of the respondents are agencies.

COMPANY LOCATION BREAKDOWN:

Out of 271 companies:
  • 55.72% of 271 companies i.e. 151 companies are based in the United States.
  • 16.24% of 271 companies i.e. 44 companies are based in the United Kingdom.
  • 5.17% of 271 companies i.e. 14 companies are based in Canada.
  • 4.06% of 271 companies i.e. 11 companies are based in India.
  • 1.85% of 271 companies i.e. 5 companies are based in Spain.

Thus, we can say that 55.72% of the respondents are US-based, and the top 6 locations comprise 84.5% of all respondents. This study is primarily focused on the US followed by the UK and Europe region.

RESPONDENTS WITH DIGITAL MARKETING EXPERIENCE:

Below mentioned details show for how many years the agencies or consultants who responded have worked in digital marketing.
  • 1.11% of 271 respondents i.e. 3 have less than 1 year of experience.
  • 7.38% of 271 respondents i.e. 20 have 1-3 years of experience.
  • 7.38% of 271 respondents i.e. 20 have 1-3 years of experience.
  • 11.81% of 271 respondents i.e. 32 have 3-5 years of experience.
  • 32.47% of 271 respondents i.e. 88 have 5-10 years of experience.
  • 47.23% of 271 respondents i.e. 128 have 10+ years of experience.

Thus, we conclude that:
  • 62% of respondents were agencies and 38% were solo practitioners (“consultants”).
  • 55.72% are US-based, and the top 6 locations comprise 84.5% of all respondents.
  • This study is primarily focused on the US followed by the UK and Europe region
  • 79.7% of all respondents have 5+ years of digital marketing experience.
  • 43.7% of agency respondents have 10+ years of experience, and 76.05% of agency respondents have 5+ years of experience.
  • 52.88% of consultant responses have 10+ years of experience, and 85.58% have 5+ years of experience.

RESEARCH STRATEGY

We started off our search by looking at the Digital Marketing Industry Pricing Survey attached on this Get Credo Website. Then, we checked the Credo survey conducted in the year 2017 and looked for the key findings of the survey. Also, we found Credo survey conducted in the year 2019 and looked for the US data specifically. Further, we tried to check the agency rates for creative / digital advertising & marketing agencies for both monthly rates and hourly rates. For SEO firms, we took the sample of 137 SEO firms based in the U.S., while for the PPC firms, we took the sample of 69 PPC firms based in the U.S. We have provided all the information/analysis required by the research criteria in the findings section.


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