How Much Does Content Marketing and Copywriting Cost in 2020?
Our Detailed Explanation on Pricing
Why Pricing for Content Creation and Copywriting Varies So Widely
Table of Contents
The Need for Transparency
In the past, we chose not to disclose any pricing upfront on our service pages, let alone provide a rate sheet.
The reason we made the decision not to disclose upfront pricing is that it varies depending on the client’s needs, whether strategy is involved, how much research is required, the type of deliverables and the value they provide to the client.
However, that is in direct conflict with one of our most important values at Provectus Digital — transparency.
Therein lies the battle in my mind:
How can I, as the founder of Provectus Digital, proclaim to hold transparency as one of our most dearest values if we don’t show pricing upfront?
The truth is, I am also a customer.
I am a client for other businesses, too.
When I shop around online, I want to see pricing upfront.
One of the first things I do upon visiting a company’s website is going to the top navigation menu to look for a “Pricing” page.
If it’s not there, then I go to the Service pages and look for any rates, fees, or prices. (This is where I put my pricing at the moment).
If I still don’t see any pricing, I get irritated and look elsewhere.
Yet, that’s what so many businesses do. Ourselves included (up until now).
So how can we claim to be transparent and not show any pricing?
The answer is, we can’t.
So, as a founder, I changed my decision and started showing prices upfront in the name of transparency.
Why Providers Don’t Typically Disclose Pricing Upfront
Copywriters and content providers have reasons not to show rates upfront — some of which are valid, and some of which are completely nonsensical.
Here are a few:
1. The usual answer: “it varies!”
As much I hate this answer — and you probably do, too — this is true.
Different clients have different needs.
Some clients only need a couple of blog posts a month… others need 3 blog posts per week. And we haven’t even talked about how long or short each blog post can be. Some articles can be less than 400 words. Some others can be over 4,000 words.
A sales page can be very short, less than a page… or it can be 20 pages long.
Asking “how much do you charge for copywriting?” or “how much does content marketing cost?” is just like asking “how long is a piece of string?”
Still, as providers that value transparency, we shouldn’t give prospective clients a flippant “it varies” answer when they ask.
If you ask a car salesman how much a car costs, and he says “it depends!” Would that inspire trust in you as a customer?
No! Of course not.
But if the car salesman asks about your brand preferences, what features you must have, which ones are “nice to have”, whether you have kids, whether you intend to pay in cash or borrow from the bank, then you’re going to zero in on a few specific options that would be a great fit for you. The car salesman would then be better able to answer on the pricing question with specific options in mind.
Because the car salesman actually takes the time to understand your needs and preferences, more trust gets built, thereby increasing the chance that both sides agree on a sale and walk away happy.
Not that we’re comparing ourselves to car salesmen, but the crucial thing to understand is this:
We take the time to really understand your business, what you really need (which may be different from what you THINK you need), and explore whether content marketing can really help grow your business.
This is the essence of our 5-step Provectus Process.
2. “We do value-based pricing, so we can’t show this upfront.”
Sure, value-based pricing is a valid pricing strategy.
It sounds great in theory, but in reality, it is quite difficult to apply in practice. Value-based pricing simply means that we charge a portion of the additional revenue you get through working with us. But that means this additional revenue needs to be accurately measured, and this responsibility usually falls on you — the client. Plus, even if you had an excellent system of measuring that additional revenue through certain marketing metrics and KPIs, the executives at your company might not be comfortable with sharing such sensitive information — which is completely understandable. This is why value-based pricing is so difficult to apply in practice.
But let’s assume we do value-based pricing. Therein lies the problem: we can’t just say this when asked about our rates without providing the full context around this question.
“What are your rates?”
“Oh, it depends, because we do value-based pricing.”
You can guess how that goes.
Think of it from a customer’s point of view — it sounds just like an excuse.
Do prospective customers go to a website, not see pricing, and say:
Oh, that just means they do value-based pricing. That’s great! So I’ll go ahead and request a quote and wait to hear back.
No. It doesn’t work like that. That’s not how people think.
And that’s not how you (and I) think, either.
3. “If competitors know our prices, they’ll undercut us and we’ll lose business!”
To that, I say:
Okay… if we were competing on price alone, this would be true.
Content creators and copywriters who compete on price tend to flock to sites like Upwork and content mills, and take orders from clients who don’t fully understand the marketing value of such deliverables.
But at Provectus Digital, we do not compete on price.
We don’t work with clients looking to pay the minimum possible.
We don’t work with clients who don’t appreciate the value of quality content and great copywriting.
We are a white-glove content marketing and copywriting agency whose mission is to provide substantial, sustainable, and long-lasting value to clients. In short, we want our clients to benefit — many times over — not only while engaging with us, but also long after they engage with us.
To use some numbers and put things in perspective, we do not take on projects if we don’t believe that our clients will get an ROI at least 3 times of what they pay us. And that 3 times ROI is just the minimum… we prefer our clients to get more than 5 to 10 times of what they would pay us. Of course that requires our clients to have a measuring system in place, but that’s a whole ‘nother topic that we will talk about soon.
To make such returns possible, we provide our clients with both strategic and tactical consultation as well as the content deliverables.
What Are You Really Paying For?
In our five years of being in the content marketing sphere and listening to what our clients say, we’ve learned that strategy is where the value is. The best content marketing agencies not only create content, but also work with their clients to come up with the best overall content strategy for each.
In other words, when you pay for a set of blog posts, you aren’t buying a set of blog posts.
Let me say that again. You aren’t just buying words. (This is why pricing by the word is so utterly misguided).
You are really buying more subject-matter authority, more brand recognition, more trust from your customers, and higher search engine rankings leading to increases in web traffic. All of these ultimately lead to higher revenue and more business.
When you pay that monthly invoice for a set of blog posts, that is what you are really buying.
Sadly, many providers don’t get it. They think all they need to do is crank out a set of blog posts, get paid for it, and they’re done.
No. It doesn’t work that way, at least with Provectus Digital. We are not order-takers. Instead, we are your partners in creating and executing the best marketing strategy for your business… and using content creation and copywriting to deliver on it.
What goes into our pricing?
So you pay us $10,000 to write a white paper to flesh out your Resources page.
Or you might pay us a monthly retainer of $5,000 for a set of 6 blog posts every 4 weeks along with strategic planning and keyword research.
Or you retain us for a full website rewrite with high-conversion copywriting totaling $15,000 over 3 months.
One might ask:
What do we do with this money? What justifies us charging these prices?
We price using medium- to high-end market rates as long as we believe we will bring you additional revenue an order of magnitude higher than what we charge. We don’t take on projects unless we feel that there is a strong chance that you will — using the above examples —
- Earn at least $100,000 in additional revenue thanks to that new white paper we created for you as your new lead magnet;
- Boost revenues by at least $200,000 thanks to your content marketing strategy and all the new traffic being driven to your blog along with some well-placed calls to action;
- Drive at least $150,000 in new sales within the first 12 months of your newly redesigned and rewritten website going into production.
And I’m being quite conservative to make my numbers more believable.
In fact, I have actually earned companies millions in new sales as a result of my content creation and copywriting services.
However, I should note that, in those most successful cases, the businesses in question asked me to consult them on their marketing strategy and they were willing to pay for it.
Anyway, let me break down what exactly goes into our pricing minimums in order to maintain our business and our profitability. When we get entries into our accounts receivables, the funds are broken down as follows:
- Project management
- Wages for team members
- Other operating expenses (i.e. software, bookkeeping, etc.)
Given these expenses, our price minimums only allow us to break even! And we don’t even have that much overhead to begin with.
Provectus Digital, just like your business, is a for-profit entity with intentions to grow and scale in order to serve more customers who need our services.
Strategy and quality are both priced in
We have a 5-step “Provectus Process” that includes upfront project discovery and in-depth research into your business, your competitors, your target market, and your buyer persona.
It is this process that allows us to deliver value to your business that is an order of magnitude higher than what we charge you.
Unfortunately, not all business owners value this. Or they don’t really believe that content will help them achieve the ROI they want. So they try to pay as little as possible to get content — for the sake of having content. Why? Probably just because everyone else is doing it. These clients tend to flock to sites like Upwork, one of the largest global sweatshops full of freelancers competing to cobble together 3,000-word clumsy walls of text for pennies on the dollar.
On the other hand, for clients who want high-quality content written by subject-matter experts that actually earns brand equity, consumer trust, increased rankings and traffic, the steps involving project discovery and strategic research are crucial to the success of the project and therefore cannot be skipped.
If clients want to do the strategy themselves and just hire us to write content, we can still take that on and not charge for strategy.
However, for best results, an external set of eyes that take strategy into account, and the expertise to provide actionable feedback to decision makers, will add a ton of value to the entire undertaking that goes beyond mere content… and that’s why we charge more for it.
How We Show Pricing Upfront
(and Still Maintain the Flexibility to Customize According to Your Needs)
While our pricing does vary, we also want to be transparent. So we began showing price ranges and “starts at” pricing on our service pages.
Since there’s no real way to predict how much ROI a business will get from my content marketing and copywriting services (one reason value-based pricing is flawed), I use medium- to high-end market rates a starting point. However, even with such market rates, if my client does not get at least a return double of what I got paid, then I’m not happy. Conversely, if they get an ROI of more than 5-10 times of what they paid me, then I would be overjoyed about how I helped their business.
However, even market rates depend on strategy, how much research is needed, and the volume of deliverables.
Therefore, we list our Content Marketing service using a range of $1,500 to $5,000+ per month.
On the lower end, we would create just a few blog articles while doing minimal strategic work. This would be a good fit if you already have your strategy down and don’t need that much additional content.
However, if you need us to do some extensive strategic work along with creating several blog articles each month, then we would charge towards the upper end of that range.
“Starts at” pricing
We also show “starts at” pricing, which is the minimum engagement value for our services. However, this doesn’t mean that we can’t work together if you don’t have the minimum prepared.
For example, a full website rewrite under our Copywriting services will require a minimum of $8,000.
Keep in mind that this does not mean you will only pay $8,000 and not a cent more.
On one hand, the actual cost may be higher for long-term and extensive projects such as full website rewrites.
On the other hand, the actual cost may be a fraction of the displayed price for smaller projects such as a single landing page or a short email series.
On all of our service pages, we make it clear that our pricing is not set in stone.
Requesting a Quote: it all comes down to your specific needs
As mentioned above, we make it clear that if you just want a single deliverable instead of everything listed in our services page, we won’t charge you the full price.
If you already have your strategy down pat, and you just need us to fulfill it, then we also would not charge you for the strategy.
We encourage you to request a quote for what you specifically need, and we will quote you on just that – no more and no less.
If you’re not even sure what you need or are not clear on your best strategy, we invite you to get a free email consultation with us — no obligations, no strings attached, and no cost!