The True Cost of an In-House Marketing Team
In today’s world, digital marketing for your business is more important than ever. It’s no longer enough to post to social media a couple of times a month and occasionally send out an email. For companies, having regular, strategic marketing is the key to success. So, if you’re ready to amp up your digital marketing efforts, you might be wondering about the true cost of an in-house marketing team.
So, let’s break down the numbers of having your own, expert marketing team.
The Cost of Hiring a Chief Marketing Officers (CMO)
First, what’s the cost of hiring a CMO? Depending on the size of your business, you may or may not need a CMO. But if you do, according to Digital Marketer, the average salary + bonus is anywhere from $71,000 to $355,000 a year. And that’s just for the c-level executive, not for the entire team, and not including benefits.
The Cost of Hiring a Team of Marketing Professionals
So, what if you need to hire an entire in-house marketing team or people with different types of expertise, like a graphic designer and a copywriter (these are vastly different skillsets)? Let’s take a deep dive into what typical marketing team members make per year.
Graphic Designer: A graphic designer makes between $34k and $64k a year and creates email templates, web graphics, social media and blog post graphics and images, and digital advertising assets.
Copywriter: A copywriter makes $35k to $75k a year and is responsible for email marketing, blog, and social media content, as well as managing a content calendar.
Video Editor: A video editor makes $30k to $88k a year and manages storyboarding, video shoots, animated videos, and all aspects of editing and production.
SEO Strategist: An SEO strategist makes $32k to $80k a year and is responsible for SEO research, analytics, and overall strategy and direction.
Digital Ads Manager: A digital ads manager makes $46k to $66k a year and is responsible for digital advertising efforts, including optimizing ad spend and targeting. The ads manager may also be responsible for reporting, spending, creation of ad copy, and setup.
Marketing Strategist: A marketing strategist makes $41k to 96k a year and is responsible for building, implementing, and optimizing marketing strategy and acting as a project manager for the team. May also help out with tasks that keep projects on track.
If that seems like a lot, it is! The range for your entire team is anywhere from 218k to 469k on the high end, and that doesn’t include bonuses, healthcare, or any other benefits, nor does that include the cost of a CMO (or multiples of any of the above). It also doesn’t include the cost of training the team.
But your marketing efforts need all of these specialized skill sets to be successful in today’s hyper-competitive online environment. Successful marketing teams see results because they have these skills and support each other to get the job done.
The RMS CMO Solution: Your Marketing Team
In the end, marketing is all about generating more profits. So, you need to look at your marketing team in terms of your return on the investment. That money (plus) needs to come back to you.
One of the best options for keeping costs low but keeping skills high is to hire an outside agency, like Real Marketing Solutions, to do the heavy lifting for you. Instead of paying a team in-house, you pay a monthly fee that gives you access to a diverse set of experts. As your marketing strategy evolves, you can rely on the agency to have the expertise you need instead of hiring new team members. This means that you can scale faster, or if you need to ramp up your marketing for just a few months, you can.
That’s why we’ve developed the RMS CMO Solution—our comprehensive solution to the problem of needing a Chief Marketing Officer but not having the resources to create a full-time, in-house position and a full-fledged marketing team.
Or maybe you do have the resources to create such a position, but you don’t have the time or expertise to know how or who to hire. And really, you know that you need more than just a CMO—you need a copywriter, a video editor, an SEO specialist, a digital ads specialist, a graphic designer . . . that’s why you need an experienced team of marketing professionals on your side.
No training, no team building, no office space required—just a team that shows up and integrates seamlessly with the systems you already have in place.