Content and Inbound Marketing still have an air of mystery. Aside from “How does it work?” or “What is it?”, its most mysterious aspect could be the cost. But this isn’t completely unexplored territory. Lots of people are using Inbound, and they’re clearing paying something for it.
No one has this down to an exact science, but we can give you a basic idea of what EdTech Marketing Cost will cost you.
Ready, let’s go!
Content and Inbound Marketing’s Value
Content’s power is in its ability to educate customers. Targeted, helpful material instantly rewards the reader. It also creates a positive brand association.
Even if a company is small, once they’ve positioned themselves as a reliable resource, they can compete with larger organizations. Knowledge has a value that keeps on giving. The more consumers learn, the more they want to know. Be the source that keeps feeding their curiosity.
The pot only gets sweeter when you take into account the ROI of Content Marketing. According to HubSpot, an average Inbound Marketing lead costs 61% less than its outbound counterpart. To give you a clearer picture, businesses that are outbound-oriented spend about $346 per lead. In comparison, the average cost per lead for Inbound-centered companies is around $135.
Every business is different, so these numbers are going to vary. Plus, your marketing success won’t come from Content and Inbound alone. Even so, they can be pivotal drivers that launch your campaign over the hump.
Projected Monthly and Yearly Expenses
We’re sure you’ve been itching to find out if Inbound is friendly or unfriendly to your budget. While we don’t want to keep you waiting, it’s a question that can only be answered after you’ve set your budget. So, how much do you have to put into Content Marketing?
If your annual revenue is below $5 million, the SBA recommends allocating 7 to 8 percent of your revenue to marketing. For digital marketing specifically, 2-5 percent of your gross revenues should do the trick.
In the grand scheme, investing in a Content and Inbound Marketing strategy is quite affordable. The more pressing issue might be the time and effort needed to produce quality content. This process is far more involved than many realize.
If you don’t think you can manage an in-house content creation team, an outside agency could be a viable solution.
Here’s a brief rundown of the rates:
- Agencies typically charge between $3,000 and $10,000 per month.
- For an entire year, you can expect expenses to range from $36,000 to roughly $120,000.
Keep in mind that some agencies will try to lock you into a one-year contract from the beginning. This is a big commitment, but these packages are comprehensive. In addition to content strategy, content creation is also part of the package, or at least, it should be.
If you already have a team but are unsure of how to construct a strategy, there are agencies that can lend a helping hand. More than anything, Inbound Marketing is consultative. Offering specific solutions to specific problems is still in the wheelhouse.
The Bottom Line
An effective Content and Inbound Marketing strategy can never be cookie-cutter. Each Education Technology company has its own particular needs. So naturally, there isn’t a uniformed set of prices. The one thing you can be sure of is that Inbound is a consumer-centered methodology with the flexibility to adapt to a variety of budgets.