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How much does marketing cost?

  • 10-05-2007 11:02am
    #1
    RosieRo
    Closed Accounts Posts: 55 ✭✭


    Hi knowledgeable people (I've been reading some threads, great information going around there).

    I'm writing a business plan for a mock marketing agency I've set up for a university assignment. I don't know why I got into this because I know nothing about marketing, it's scary and competitive.

    Basically I need to know what kind of rates marketing agencies charge for promoting small business start ups. And any other tips for writing a business plan based around a marketing agency would be much appreciated.

    There's 20 credits and possibly the quality of my degree depending upon this so any ideas/answers would be great.

    Cheers a bunch.

    Ro


Comments

  • #2
    mneylon
    Registered Users, Registered Users 2 Posts: 7,740 ✭✭✭mneylon


    I've got pricing from marketing agencies in the past.

    They seem to offer a couple of pricing models including per project or retainer (upto X hours per month)

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  • #3
    growler
    Registered Users, Registered Users 2 Posts: 2,188 ✭✭✭growler


    stock answer: it depends.


    lots of factors that will influence costs and charges from an agency:
    size aqnd complexity of the project
    budget of the client
    potential future value of the client
    number of staff needed
    will some parts need to be outsourced (ie getting a tv commercial done, models hired etc)
    Strategic value: does the agency want to develop a reputation as a specialist in this area?
    costs of the agency: staff, offices etc etc. ..what is the minimum return they expect on a job.

    admittedly my experience has always been with larger agencies for PR, web and advertising, and their costs are usually a cost per person per day, so a web development project would be priced like:
    2 x developers for 10 days @£;300 per day
    1 x Designer for 6 days @ £350 per day
    1 x project manager for 5 days @ £500 per day
    + overheads and expenses.


    Small start ups aren't usually a target of larger agencies as they typically don't have enough spare cash floating about to make it the most profitable market for agencies to target. If you're talking about a 1 or 2 man band who want to advise on marketnig strategy etc and maybe commission other agencies / freelancers to develop brochures / websites etc. you're probably looking at between £250 -£500 per day.


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