If you are a creative, advertising, media, digital marketing, production agency, or freelancer, this article is of interest to you as it presents a detailed commercial strategy. You will learn all the relevant tactics provided as digital marketing services, how to initially price our work, and then how and how much to charge for these services to clients, including indicative prices from Greece. Let's go through everything step by step.

How to Price Your Service

Pricing any service depends on a) the time you and/or your collaborators/employees need to work to provide the service, b) your additional expenses, and c) your profit margin. Let's look at all of these.

A. The Net Cost of Your Labor

The net cost includes the labor time to deliver a service. To accurately calculate your cost, you should first determine how many employees need to work to provide the service and how many hours each one (e.g., 1 account manager 4 hours a month + 1 designer 4 hours a month, + 1 social media manager 16 hours a month) or just you personally. Then, find out how much each hour costs for each person or yourself. To find out how much your hours cost:

1) Calculate the annual salary and bonuses each employee would receive based on their value and experience, or how much you would personally receive. In Greece, for example, an employee receives 14 salaries annually. An entry-level employee with 0–5 years of experience would earn, say, €900 net per month or €12,600 net annually (14 salaries). A mid-level employee with 5–15 years of experience would earn, say, €1,800 net per month or €25,200 net annually (14 salaries). A senior-level employee with 15–30 years of experience would earn, say, €4,000 net per month or €56,000 net annually (14 salaries). Calculate how much money you would actually be paid in your country/market for your experience/value/knowledge, not how much you would like to be paid.

2) Divide the annual amount by 12 months, then by 25 working days, and then by 8 working hours (the average work hours per month or day). Or, as Matt Protopapas advised, if you want to be precise, also take into account holidays/vacations/weekends in the calculation of working days, hence divide the annual income by 220 days (220 is roughly the number of days someone works in a year, with a 5-day week, 20-something days of leave, and holidays). Do this for each involved (you or your team). Examples of net costs based on the hypothetical salaries mentioned above:

Entry-level employee/freelancer: about €5.2/hour.

Mid-level employee/freelancer: about €10.5/hour.

Senior-level employee/freelancer: about €23.3/hour.

Agency: sum of some of the above.

So, if you personally operate as a freelancer and want to calculate your cost, you would do it this way, calculating your salary as if you were an employee. Therefore, a 28-year-old freelancer with 3 years of experience would have a lower salary than a 45-year-old freelancer with 20 years of experience, who is obviously more expensive.

If you are the owner of an agency, you would do the exact same for the net cost of your employees. Typically, an agency needs 1–3 people for each client/service. Some serve, some produce, and some run the tactics. Calculate how many hours each spends.

So, we understand that the net labor cost for providing a service differs between a business and freelancers or independent professionals. In a business, 1–3 people work to provide a service to clients, while freelancers usually work alone.

So we found the net cost. Let's move on.

B. The Gross Cost of Your Labor

The gross cost includes several additional expenses that we always pay to produce a service outwardly. It should include, for example:

• Tools you pay for your job
• Rents
• Fixed costs (water, internet, energy)
• Travel & accommodations
• Insurance
• Marketing
• Contributions to the state

To accurately calculate the gross cost, add up all these expenses (or your expense forecasts) annually. Then divide them again by 12 months, by 25 days, and by 8 hours to get the additional gross cost per hour. Let's assume your annual expenses are €24,000. The additional gross cost per hour would be €10. So, if this is the gross cost for all the above employees (it's not always the same, clearly), then we go back to our examples to see the final cost:

• Entry-level employee/freelancer: about €5.2 + €10 = €15.2/hour.
• Mid-level employee/freelancer: about €10.5 + €10 = €20.5/hour.
• Senior-level employee/freelancer: about €23.3 + €10 = €33.3/hour.
• Agency: these €10 and perhaps much more.

So, we understand that the final gross cost for providing a service differs between a business and freelancers or independent professionals. A business has several and larger expenses to be able to provide a service, while a freelancer usually has lower total expenses.

It's good to review your total gross cost every 5 or 10 years, depending on how quickly your conditions change.

So, we found our total gross cost, which is the net cost + the gross cost. Let's move to the next step.

C. Your Profit Margin

After pricing everything, it's time to set the price at which you will sell each hour of yours. A healthy business or professional/freelancer should generate profit. Therefore, the final price per hour should have a profit multiplier (e.g., the gross cost times 2 or 3 for a professional/freelancer or the gross cost times 6 for an agency. We call it markup).

You can obviously set as high a profit percentage as you want. The profit percentage you ultimately add and whether it will be 2 or 4 or 6 times higher is usually decided by considering:

• Your added value, i.e., how great the market thinks you are (attention: what the market thinks, not what you think of yourself).
• How much the competition in your country charges for the same services, which can be limiting.

So, we understand that your competition's prices may significantly limit your final prices without necessarily having to follow them.

In our examples then with a profit margin (markup) 3 times higher (3X):

• Entry-level employee/freelancer: €15.2 X 3 = about €45/hour.
• Mid-level employee/freelancer: €20.5 X 3 = about €60/hour.
• Senior-level employee/freelancer: €33.3 = about €100/hour.
• Agency: about €200-€300/hour depending on the cost.

Of course, you can choose not to add profit (e.g., if you are just starting now and want to enter the market more easily). However, this is not recommended because you will never be able to grow this way. Obviously, some others will do it.

It's also obvious that you can charge below your gross cost. However, this is not recommended because you will simply be 'going under' when working, and very quickly, you will create a loss. Obviously, some others will do this too. They do it because they don't know how to price their work, or they do it consciously to enter the market easily and quickly. It's a bad practice whose results they will find sooner or later. They will get customers but won't be able to serve them properly with the money they collect, so they will start cutting the quality of their service.

So, we found the final price at which we normally should charge/sell each hour of ours, which is net cost + gross cost X markup = final price. Let's move on to the next step.

The Pricing List for Digital Marketing Services

Depending on the services you provide to others, you need to create a general pricing list for all these services. As mentioned, the price of each service should be derived from the hours needed to deliver the service (remember final price/hour = net cost + gross cost X markup). So, how much time do you need to properly do something? Examples:

Price of Social Media Marketing per Month

How much time will you dedicate per month for the social media strategy, the calendar, the proper production of posts/stories, scheduling on social accounts, moderation & community building, meetings & communications, and of course, reporting?

Price of Content Marketing per Month

How much time will you spend per month on content strategy, the calendar, the proper production of each different content, distribution on your own or third-party channels, related contacts, promotion of published content, meetings & communications, and of course, reporting?

Price of Advertising Campaigns per Month or per Campaign

How much time will you dedicate to properly setting up advertising accounts at the beginning and for each campaign every time? How much time will you spend studying the strategy, finding estimations, creating a media plan, and producing the right ad creatives? How much time will you dedicate each month to the management, optimization of campaigns, meetings & communications, and of course, reporting?

Price of Influencer Marketing per Month or per Campaign

How much time will you dedicate to studying the strategy, finding & evaluating influencers, creating a media plan? How much time will you spend on the management of influencer campaigns, meetings & communications, and of course, reporting each time?

Price of Search Engine Optimization per Month

How much time will you dedicate to a potential audit/check-up? How much time will you spend each month on onsite optimization, the proper production of each different content, and distribution on third-party channels for offsite SEO, related contacts, meetings & communications, and of course, reporting?

So, we understand that the pricing list for each potential service will be created after calculating the hours needed for the proper provision of that service.

Here is an example of a digital marketing services pricing list:

Prices for Content Production per Content Type

The time dedicated to producing each type of content (text, video, audio, graphics) or ad creatives or posts varies. Some content can be quickly created using ready-made templates or AI programs in a few minutes, while others are more complex, custom productions that are larger in size.

Thus, we understand that the pricing list for each possible production will be created after calculating the time needed to create this content.

Here is an example of a production pricing list for digital marketing:

Remember, your clients will usually request many different things during a collaboration. For example, they might ask for social media marketing every month on 1 or 3 different social networks, run some of their campaigns on 1 or 2 different ad platforms, produce 10–30 different pieces of content & ad creatives per month, post texts on a website, and possibly do SEO. That's why you want a pricing list.

The pricing list is the primary way you will charge your services to clients. However, let's look at 2 ways digital marketing services are typically presented, sold, and charged to clients beyond the pricing list, which is always there to complement. Choose whichever method suits you:

1. Digital Marketing Service Packages

The first form of presentation, sales, and pricing involves packages.

If you have clients who want something stable, easy, and understandable, then you need to prepare service packages with specific services and fixed prices for each package. Smaller clients get confused by fluctuating amounts and prefer a fixed monthly sum for everything "to know what they're paying for." In essence: "Tell me what I get for X€." This is the "package." It's easy for them to include in their annual budgeting. For example, €500/month for some organic tactics + some paid tactics + some productions, totaling €6000/year. Consider creating something like this:

To package your services, you clearly define what is included and what is not in each package. For anything extra that arises beyond the fixed price of the package, your standard pricing list always applies.

What to Pay Attention to in the Package:

You should clarify from the beginning in your PROPOSAL and later in your CONTRACT with the client what this price includes and what it does not. For example, in the BASIC option at €500/month:

Included:

• Social media marketing service (calendar, 30 total posts or stories customized for 2 social networks, 1 hour of moderation per day).
• Ad campaigns service (1 media plan, management, optimization for 1 ad platform).
• Production for 30 posts/stories with images/graphics.
• A monthly report for all the above.

Not Included:

• Creation of ad creatives (here, you would charge based on the pricing list for anything that is not included and needs to be created).
• Responses to customer messages and reviews.

Do not risk leaving what you will and will not do at a fixed price vague, as you will surely lose out. Explain to the client that your package only includes these items and anything extra will be charged according to the pricing list. Always sign these terms in the contract with them. This way, they will appreciate and gradually learn what you do.

The "all you can eat" package

This package offers a single price for unlimited services, often appealing due to its simplicity and apparent value. However, this approach is generally considered bad practice for several reasons:

Unsustainability: Offering everything at one low price can attract many clients but providing quality service to all can become unmanageable. It might lead to cutting corners or delivering subpar services.

Quality Dilution: To manage costs, the frequency and quality of services (like posts or ad optimizations) might be reduced significantly, which can harm the client's business and your reputation.

Client Expectations: Initially, clients might not understand the value of digital marketing services and could be satisfied with the quantity over quality. However, as their knowledge grows, they'll recognize the lack of quality and proper attention, leading to dissatisfaction and potential loss of business.

Risk of Overextension: At some point, clients might start requesting numerous different tasks within the fixed price, leading to resource strain and potential conflicts when unable to meet demands.

Market Perception: Poor or mediocre services not only lead to bad results for clients but can also tarnish your reputation in the broader market among peers and industry media.

Educated Clients: An informed client will eventually discern when services provided are insufficient, mediocre, or incorrect, which could lead to loss of trust and business.

Focusing on quality, transparency, and sustainable pricing strategies is crucial for long-term success in digital marketing. Offering tailored packages that clearly define what is included (and what is not) helps manage client expectations and ensures that you can deliver services at a high standard. Ultimately, maintaining a good reputation in the market and with clients is paramount, and this is achieved by delivering consistent, high-quality services that meet or exceed expectations.

2. Pay as You Go" or "A la Carte" digital marketing

The "Pay as You Go" or "A la Carte" digital marketing model offers flexibility and customization in billing for services based on actual usage or requirements each month, according to your pricing list. This approach is often preferred by larger agencies and experienced freelancers with substantial clients because it aligns the billing more closely with the client's changing needs and marketing activities. Here's how it works across different service categories:

1. Organic Tactics Management Services

Services driving long-term organic results, like social media marketing, content marketing, and SEO, are billed monthly. The fee varies based on the hours worked, offering flexibility to adjust as the workload changes.

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2. Paid Media Management Services

Services generating immediate results through paid campaigns, like ad campaigns and influencer marketing, include a base fee plus a percentage of the media spend (e.g., 10%). This percentage adjusts based on the number of campaigns managed and the media spend size, with the market rate ranging from 3% to 20%.

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3. Production Services

Production of various content types (e.g., articles, infographics, videos, graphics) for posts or ad creatives is billed per item produced, according to your pricing list. This allows for transparent billing based on the actual content created.

Switching to a "Pay as You Go" model might be beneficial when your clients mature and their demands become more varied and frequent. This model allows for monthly invoicing that reflects the services provided:

• A specific amount for organic services based on the work done.
• A specific amount for paid services, including management fees and a percentage of media spend.
• A specific amount for production work, based on the quantity and type of content produced.

As both the agency (or freelancer) and the client mature and the collaboration grows, transitioning to this billing form can offer greater flexibility and scalability. "Pay as You Go" charges signify a mature understanding of the dynamic nature of digital marketing needs.

Indicative pricing examples for digital marketing services in Greece

Below are some indicative pricing examples for digital marketing services as commonly seen in Greece.

These figures can vary based on the agency's or freelancer's expertise, the complexity of the service, and the specific needs of the client.

DIGITAL MARKETING STRATEGY

• Freelancers: Starting at €1,000 for a one-off comprehensive custom strategy covering digital and social media channels, actions, budget, and KPIs.
• Agencies: Starting at €3,000, though many offer the initial strategy study for free with the hope of securing the implementation project. Serious agencies might charge a rejection fee if the client chooses another provider.

WEB/MOBILE DESIGN & DEVELOPMENT

General Websites on CMS (e.g., Drupal, WordPress, Joomla):

• Freelance Designers: From €500, depending on the project.
• Agencies: From €2,000, depending on the project.

E-commerce Platforms (e.g., Shopify, Magento):

• Freelance Designers: From €1,500, depending on the project.
• Agencies (Design, Development): From €5,000, depending on the project.

Customization of such platforms can raise the cost to €10,000–€30,000.

Custom Websites or Apps:

• Freelance Designers: From €10 per hour.
• Agencies(Design, Development): From €25 per hour.

Custom projects can range from €10,000 to €500,000, depending on complexity and development time.

SEARCH ENGINE OPTIMIZATION (SEO)

SEO Check-up and Report:

• Freelancers: From €250, depending on work volume/size.
• Agencies: From €1,000, depending on work volume/size.

Monthly SEO Services (on-site & off-site):

• Freelancers: From €500/month, depending on work volume/size and the need for content creation for backlinks.
• Agencies: From €1,500/month, depending on work volume/size and content creation needs.

Using SEO tools like aHrefs or Answer the Public incurs additional costs, which are typically borne by the service provider. Clients also expect regular reporting as part of the SEO service package.

These examples highlight the diversity in pricing and services within the digital marketing industry in Greece, emphasizing the importance of clear communication between service providers and clients to establish expectations and deliverables.

CONTENT PRODUCTION

The creation of content for use on the web, social media, advertisements, S.E.O., or content marketing.

• Freelance Designers/Producers: A fee for each content piece (varies by type)
• Agencies (Digital, Creative, Media): A fee for each content piece (varies by type)

Some examples include:

• An SEO-optimized original article or native advertorial up to 1000 words from €100
• Ad copy up to 200 characters tailored for each channel (Google search, Facebook, Twitter, Instagram) from €20
• A visual or graphic from €50
• A short video or animation explainer up to 15" from €300
• A long video or animation explainer up to 2' from €1500
• A podcast from €300
• A report/whitepaper/feature from €300
• An infographic from €300
• An Instagram or Facebook story from €50
• An augmented reality 3D filter for Snapchat or TikTok from €300
• Larger productions of branded entertainment or infotainment are subject to special agreement, as they may also involve website creation.

It's understood that if you use any design, production, or even artificial intelligence tools (e.g., Canva or Chat GPT), you will assume their costs.

CONTENT MARKETING

The creation of all types of content aimed at organic dissemination/publication on third-party sites for awareness, visits, or in specific cases, leads.

• Freelancers: From €150/month
• Agencies (Digital, Creative, Media): From €500/month

The price varies monthly depending on:

• The amount and type of content included
• How many different channels the content is shared on (external blogs, podcast sites, infographic sites, video channels, document & slide sites, social media) and how often (as this constitutes P.R. work)
• Whether there's also management (maintenance) of a branded entertainment or infotainment website by a special production and usually design/development team.

SOCIAL MEDIA MARKETING

Organic community building & management of social media & social networks (such as Facebook, Instagram, LinkedIn, TikTok, Pinterest, etc.) and the continuous process of posting, engagement, monitoring, reporting aimed at awareness, engagement, and directing visits to a website.

• Freelancers: From €150/month

• Agencies (Digital, Creative, Media): From €400/month

The price varies monthly depending on:

• The amount and type of posts included

• How many social networks are managed simultaneously (e.g., Facebook & LinkedIn require different work than Instagram or TikTok)

• How many tasks are performed in parallel for the brand (e.g., brand building, customer care, crisis management, etc.). For example, continuous customer care for large brands requires a large team and access to CRM tools.

• How many hours are needed to manage and respond to engagement or to conduct social listening & live marketing (8, 12, 24 hours?)

It's assumed that you make at least 1 post or 1 story per channel every day of the year and maintain a social content calendar. It's also understood that if you use social mashup tools (like Hootsuite or Buffer) or content production tools (like Canva), you will bear their costs. Finally, it's understood that the client expects a report.

ADVERTISING CAMPAIGNS (PERFORMANCE)

The planning, and setup of advertising campaigns on Google networks (e.g., Google Search, Google Display Network, YouTube, Performance Max), on social ad platforms (e.g., Facebook, Instagram, LinkedIn, TikTok, Pinterest, etc.), and the continuous optimization and/or management of these paid campaigns. Assuming there's a ready brief/strategy (which has an extra cost) and ready ad creatives for the ads (i.e., copy, graphics, videos, animations, banners) which also have extra costs if created by you:

Campaign Setup:

• Freelancers: From €150 depending on the campaign volume that needs to be set up

• Agencies (Digital, Creative, Media): From €500 depending on the campaign volume

Management, Optimization, and Reports:

• Freelancers: From €150/month (usually do not charge a percentage)

• Agencies: From 10% on the media budget (spending) with a minimum base amount

The client is billed and pays for the media spending on the platforms using their card. They are also obliged to contribute 2% towards EDOEAP for the advertising investment. Finally, it's understood that the client expects a report.

PREMIUM ADVERTISING CAMPAIGNS

The study (planning), buying, setup, and management of paid advertising campaigns on Premium Publishers (web & mobile), Programmatic networks, or Native or Affiliate networks & publishers. Assuming there's a ready brief/strategy (which has an extra cost) and ready ad creatives for the advertisements (i.e., copy, visuals, videos, animations, or other creatives required in affiliate marketing like coupons, native ads) which also have extra costs:

Planning, Buying & Setup, Management, Optimization & Reports:

• Freelancers: Usually do not undertake such tasks

• Agencies (Digital, Creative, Media): From 10% on the media budget (spending) with a minimum base amount

The client is billed and pays the agency here. They are also obliged to contribute 2% towards EDOEAP for the advertising investment. Finally, it's understood that the client expects a report.

INFLUENCER MARKETING

The research, evaluation, paid assignment, monitoring of influencers or brand ambassadors, and of course, reporting.

• Freelancers: From €150/campaign

• Agencies (Digital, Creative, Media): From 10% on the media budget (spending) with a minimum base amount

It's understood that if you use influencer tools (like HypeAuditor, Klear, or Susurrus), you assume the subscription cost where applicable. Finally, it's understood that the client expects a report.

EMAIL & MOBILE MARKETING

Segmentation, setting up automated or custom direct campaigns, sending & reporting. Assuming there are ready legitimate lists, a brief/strategy, and clearly content for the dispatches (copy, visual, animations):

• Freelancers: From €150/month

• Agencies (Digital, Mobile, Creative, Media): From €500/month

The client pays the subscription cost to the email marketing platform (e.g., Mailchimp or Moosend) or the cost of SMS on a mobile marketing platform (e.g., TextMagic or Yuboto). Finally, it's understood that the client expects a report.

DIGITAL/ONLINE REPUTATION MANAGEMENT

Setting up special personas or bots, maintaining them, and using them for (legal) intervention with specific posts where needed to manage a brand's reputation or publicity, or crisis management (known as Astroturfing). Additionally, producing fake or deep fake content to influence public opinion.

• Freelancers: Usually do not undertake such tasks

• Agencies (Digital, Creative, Media) or Firms (PR, Reputation): From €1000/day depending on the objective and the number of personas (profiles) used. Content or deep fake content production is charged extra.

DIGITAL/ONLINE PUBLIC RELATIONS

Properly setting up press material (press releases, interviews, articles) that is SEO optimized, distributing them through special tools, content marketing, off-site SEO, continuous monitoring and follow-up for all the above, and reporting.

• Freelancers: From €250/month + dispatch cost

• Agencies (Digital, Creative, Media) or Firms (PR, Reputation): From €1000/month + dispatch cost

The dispatch cost depends on the online PR tools used (e.g., Cision or PR Fire) which are billed to the client. Finally, it's understood that the client expects a report.

GROWTH MARKETING/HACKING

Continuous optimization of all channels & campaigns aiming for cheap or free inbound visits or leads, rapid and cost-effective growth in stages of the funnel.

• Freelancers: From €500/month

• Agencies (Digital, Creative, Media): From €1000/month

REPORTING

Remember that reporting is normally included in all the above services and charges. The client should always receive a report on what you've done. However, a client who has other agencies or freelancers for different services might request reporting as a standalone service from you, where you need to compile an overall report for everything. This includes proper setup, continuous monitoring, and reporting for all types of platforms & tools like social media insights, Google Analytics, reputation monitoring, etc.

• Freelancers: From €150 per report

• Αgencies (Digital, Creative, Media): From €500/month or per reportA

It's understood that if you use paid monitoring & custom reporting tools (e.g., Report Garden, KissMetrics, AdEspresso), you cover these costs and factor them into your prices proportionately. You can always use Google Data Studio, which is free.

Digital Marketing Pricing Summary

In this article, you've seen what digital & social media marketing services are, how they are correctly priced, and how they are charged to clients, along with indicative prices from Greece. I hope this comprehensive commercial strategy helps you, and I wish you success. If you find this article valuable, share it with others, always citing the source.

How Can I Learn More About Digital Marketing?

Educate yourself at Knowcrunch, offering the most complete, practical, and award-winning training in Greece. Learn to practically and correctly do all the above. I have the honor of teaching there alongside dozens of other highly significant C-level and truly experienced professional instructors. You can train in:

The Masterclass in Digital & Social Media Marketing is held in Athens & Thessaloniki, in classes, every quarter, completed in 3 months, with exams, and you receive a professional diploma.

The E-Learning Masterclass in Digital & Social Media Marketing, is available continuously online, video-on-demand courses, with 8 months of access, exams, and you receive a professional diploma.

Join Digital Marketing Nation

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