Full Transcript for The Ultimate Guide to Freelance Marketing Consultant Rates

33 00:02:27,124 --> 00:02:30,484 Your marketing consultant should help you get a good return on 34 00:02:30,484 --> 00:02:31,814 your marketing spend as well. 35 00:02:32,694 --> 00:02:36,924 A marketing consultant can look at the historical data from your marketing 36 00:02:36,924 --> 00:02:41,404 spend versus results over the last three to 12 months or even three years and 37 00:02:41,414 --> 00:02:45,514 give you their wise insights based on, you know, the experience, et cetera. 38 00:02:46,024 --> 00:02:51,474 It is important to note that even the best marketing consultants are not magicians. 39 00:02:51,834 --> 00:02:55,674 They don't have control over external forces, economic factors. 40 00:02:56,084 --> 00:03:00,514 Market trends, wars, or even making things go viral. 41 00:03:01,614 --> 00:03:04,824 Okay, now that we've cleared that out of the way, let's continue further. 42 00:03:05,524 --> 00:03:07,974 So what's the difference then between a social media manager, a 43 00:03:07,974 --> 00:03:11,874 marketing assistant, a marketing manager, and a marketing consultant? 44 00:03:12,799 --> 00:03:14,849 So before we look at the rates, it's important to understand 45 00:03:14,859 --> 00:03:17,109 all these different roles that promote your business. 46 00:03:17,439 --> 00:03:20,709 Let's spend some time understanding who these people are and what they do. 47 00:03:21,489 --> 00:03:23,249 First off, a social media manager. 48 00:03:23,669 --> 00:03:26,969 Depending on the size of your business, you may already have someone who looks 49 00:03:26,969 --> 00:03:28,999 after your social media accounts. 50 00:03:29,289 --> 00:03:33,009 Their role will be to develop a plan for the social media channels, write a copy, 51 00:03:33,029 --> 00:03:37,039 create the graphics, schedule all that content, and they would also look at the 52 00:03:37,039 --> 00:03:41,619 performance of the content, suggest ways to improve the results, Of their marketing 53 00:03:41,649 --> 00:03:44,359 efforts or their social media efforts. 54 00:03:45,079 --> 00:03:49,749 Another vital role would be to keep up with the latest trends and grow the social 55 00:03:49,749 --> 00:03:52,639 media community for the business loads. 56 00:03:54,179 --> 00:03:58,159 Next we've got the marketing assistants or also called the marketing coordinator. 57 00:03:58,159 --> 00:04:01,809 So how does that differ from the social media manager? 58 00:04:02,299 --> 00:04:06,599 Um, in the first place, or they're also called marketing, marketing specialists. 59 00:04:07,019 --> 00:04:10,059 Well, a marketing assistant also known as a marketing coordinator 60 00:04:10,479 --> 00:04:13,499 does just that they assist. 61 00:04:13,899 --> 00:04:16,359 They are not responsible for leading a specific strategy. 62 00:04:16,789 --> 00:04:20,479 In most cases, the business owner makes a plan and a marketing assistant would 63 00:04:20,699 --> 00:04:22,349 help implement the plan in the business. 64 00:04:22,669 --> 00:04:27,269 They can create graphics from existing templates, transcribe Um, copy. 65 00:04:27,269 --> 00:04:31,819 So for example, the market business owner will actually, um, what do you call it? 66 00:04:32,119 --> 00:04:36,544 Send an audio file with what to write in the social media content and the, the 67 00:04:36,769 --> 00:04:40,309 marketing assistant slash coordinator will actually take that and transcribe 68 00:04:40,314 --> 00:04:42,559 it into, you know, readable format. 69 00:04:43,009 --> 00:04:46,069 Um, they'll pull all of the comp and all of the reports of social 70 00:04:46,069 --> 00:04:49,159 media and compile it so that someone else can interpret that. 71 00:04:50,189 --> 00:04:53,609 So that's a marketing assistant slash coordinator slash specialist. 72 00:04:53,869 --> 00:04:55,309 So what about a marketing manager? 73 00:04:55,964 --> 00:04:59,584 If you decide to hire a marketing manager in your business, here are 74 00:04:59,584 --> 00:05:00,944 a few things that you can expect. 75 00:05:01,104 --> 00:05:05,284 They expect to be hired on a full time basis. 76 00:05:05,574 --> 00:05:08,694 The marketing manager would own, plan, develop the marketing strategy for 77 00:05:08,694 --> 00:05:10,614 the business across multiple channels. 78 00:05:11,074 --> 00:05:14,744 It is their responsibility to deliver those results that they promised. 79 00:05:15,454 --> 00:05:18,544 Um, and if they don't, if of course, like I said, they don't 80 00:05:18,564 --> 00:05:20,334 have, they don't have a mortician. 81 00:05:20,434 --> 00:05:24,274 If something happens like a war or You know, all these things that can 82 00:05:24,274 --> 00:05:27,484 happen, terrorist attack, whatever, you know, they can do their best 83 00:05:27,514 --> 00:05:29,114 based on the market situation. 84 00:05:29,594 --> 00:05:31,934 The kind of results that you can expect from a marketing manager 85 00:05:31,934 --> 00:05:33,394 will be centered around leads. 86 00:05:33,719 --> 00:05:36,139 Not sales, so very important. 87 00:05:36,689 --> 00:05:40,739 If you look at the typical customer journey where you have awareness, 88 00:05:40,759 --> 00:05:43,139 interest, consideration, and retention, the marketing manager is 89 00:05:43,139 --> 00:05:44,989 responsible for awareness and interest. 90 00:05:45,559 --> 00:05:48,029 However, they also assist with consideration phase 91 00:05:48,039 --> 00:05:49,539 where the sale takes place. 92 00:05:50,589 --> 00:05:53,709 And just to clarify there, they're responsible for leads and these 93 00:05:53,709 --> 00:05:58,279 leads has to be You know, all tuned according to the target audience. 94 00:05:58,279 --> 00:06:01,739 It can't be any random leads, of course, um, otherwise they 95 00:06:01,739 --> 00:06:02,909 would not convert to sales. 96 00:06:03,089 --> 00:06:03,519 Okay. 97 00:06:04,299 --> 00:06:06,999 Um, so what's the difference then between a marketing manager 98 00:06:07,009 -->

00:06:08,269 and a marketing consultant? 99 00:06:08,859 --> 00:06:11,809 As a general rule, the marketing manager is treated like a full time employee. 100 00:06:11,999 --> 00:06:17,079 They don't work with other businesses, so they are an in house marketer. 101 00:06:17,419 --> 00:06:20,289 However, a marketing consultant would be more like a freelancer 102 00:06:20,299 --> 00:06:21,429 or independent advisor. 103 00:06:21,884 --> 00:06:24,934 who is brought in for a short period of time, like three to six months. 104 00:06:25,214 --> 00:06:28,384 It could be longer, it could be ongoing, depending on the needs of the business. 105 00:06:28,704 --> 00:06:32,644 They are more objective in their approach to marketing solutions. 106 00:06:33,044 --> 00:06:36,974 Their fees tend to be higher than when compared to a marketing manager. 107 00:06:37,664 --> 00:06:41,504 Or should I even say lower when they compare to a marketing 108 00:06:41,504 --> 00:06:42,854 manager, not necessarily higher. 109 00:06:43,104 --> 00:06:47,299 Higher in terms of Um, the amount of time that is spent is like, 110 00:06:47,339 --> 00:06:49,689 for example, a marketing manager will work 40 hours a week. 111 00:06:50,119 --> 00:06:54,099 The, um, marketing consultant will work less than that, 112 00:06:54,099 --> 00:06:55,079 probably five hours a week. 113 00:06:55,079 --> 00:06:58,969 And the fees would tend to be not, like, when you compare 40 hours with, with 114 00:06:58,969 --> 00:07:02,809 three, with three or five hours, it's, it would be higher per hour compared to 115 00:07:02,809 --> 00:07:04,219 a marketing manager, if that makes sense. 116 00:07:05,409 --> 00:07:08,549 Um, marketing director do, would be, you know, different again. 117 00:07:09,249 --> 00:07:10,889 So that's all very confusing. 118 00:07:10,929 --> 00:07:12,639 But, but let's, let's move on. 119 00:07:12,649 --> 00:07:13,759 Let's not stick there. 120 00:07:14,329 --> 00:07:19,019 So what are the seven signs that you need, um, seven signs that you 121 00:07:19,019 --> 00:07:21,409 can look out for that you know that you need a marketing consultant? 122 00:07:21,499 --> 00:07:22,989 You're probably confused like what do I need? 123 00:07:22,999 --> 00:07:24,009 Do I need a social media manager? 124 00:07:24,009 --> 00:07:25,009 Do I need a marketing assistant? 125 00:07:25,009 --> 00:07:26,369 Do I need a marketing manager? 126 00:07:26,389 --> 00:07:26,909 What do I need? 127 00:07:26,909 --> 00:07:27,369 What do I need? 128 00:07:28,389 --> 00:07:32,179 So if you're feeling a bit confused about because you're not really sure 129 00:07:32,179 --> 00:07:36,169 who you need, here are seven clear signs that you need a marketing consultant. 130 00:07:36,209 --> 00:07:40,739 Number one, you're looking for someone shortened three to six months to come set 131 00:07:40,739 --> 00:07:43,279 up over a marketing plan and say goodbye. 132 00:07:43,664 --> 00:07:45,514 Or help implement at some point and

then take it back. 133 00:07:46,054 --> 00:07:50,424 Number two, your business online presence includes several organic channels, 134 00:07:50,424 --> 00:07:54,734 including a blog, several social media channels, a podcast, Pinterest. 135 00:07:55,104 --> 00:07:58,424 They also include paid campaigns across social, um, Google, Google 136 00:07:58,424 --> 00:08:00,054 ads, Facebook ads, TikTok ads. 137 00:08:00,054 --> 00:08:02,334 You know, you have so much going on. 138 00:08:02,859 --> 00:08:06,889 And you don't have someone who owns the whole, the whole, you know, effort. 139 00:08:07,379 --> 00:08:09,779 Um, so right now, everything feels disparate. 140 00:08:09,869 --> 00:08:12,819 You're looking for a more cohesive approach to your 141 00:08:12,819 --> 00:08:14,189 digital marketing efforts. 142 00:08:14,199 --> 00:08:14,939 That's number four. 143 00:08:15,249 --> 00:08:18,679 Number five, you are not really sure which digital channels. 144 00:08:19,044 --> 00:08:22,544 Are the top contributors to sales, awareness, and retention? 145 00:08:22,944 --> 00:08:24,924 So in other words, you know, you're getting the money and you know, you're 146 00:08:25,224 --> 00:08:29,174 doing well, but you don't actually know which channels is driving which sales. 147 00:08:29,304 --> 00:08:31,864 If you have like five different products, which channels is giving 148 00:08:31,864 --> 00:08:34,814 you sales on the first product, second product, third, fourth, fifth. 149 00:08:35,274 --> 00:08:38,394 Maybe that's just a channel, a different channel for a different product. 150 00:08:38,744 --> 00:08:40,744 Which one are the high value customers? 151 00:08:40,744 --> 00:08:41,694 Where are they coming from? 152 00:08:41,734 --> 00:08:44,564 You know, all of those are interesting questions. 153 00:08:45,879 --> 00:08:48,289 It would be lovely if you had better visibility. 154 00:08:48,289 --> 00:08:49,269 This is number six now. 155 00:08:49,519 --> 00:08:52,059 It would be lovely if you had better visibility into the customer journey 156 00:08:52,059 --> 00:08:53,819 from awareness and consideration. 157 00:08:53,819 --> 00:08:58,749 So, apart from which channels, what do they do as they head on that journey 158 00:08:58,939 --> 00:09:00,499 towards making that buying decision? 159 00:09:00,869 --> 00:09:02,369 What articles do they read? 160 00:09:02,689 --> 00:09:05,509 How many touch points do they have before they actually convert? 161 00:09:06,099 --> 00:09:09,719 You know, all of those fun things that you need to consider. 162 00:09:10,099 --> 00:09:14,589 Are you doing last click or first click in terms of attribution? 163 00:09:14,609 --> 00:09:16,139 I mean, there's just so many things. 164 00:09:16,669 --> 00:09:20,209 Number seven, you need help improving your offers and product suite 165 00:09:20,209 --> 00:09:22,759 in order to go from a six figure business to a seven figure business. 166 00:09:23,234 --> 00:09:25,744 Because it's one thing to have all of this thing coming in, but you don't know what 167 00:09:25,744 --> 00:09:27,684 it is you need to get to that next level. 168 00:09:28,564 --> 00:09:30,664 So that's seven things, okay, all together. 169 00:09:31,464 --> 00:09:34,624 By the way, if you need access to the show notes, head over to successandscramble. 170 00:09:34,674 --> 00:09:39,944 com forward slash EP274 and you get access to all the things I'm telling you here. 171 00:09:40,309 --> 00:09:41,679 In the show notes. 172 00:09:42,659 --> 00:09:43,059 Okay. 173 00:09:43,639 --> 00:09:46,559 So, current, current, let's look at some current freelance 174 00:09:46,589 --> 00:09:47,659 marketing consultant rates. 175 00:09:47,689 --> 00:09:50,309 Because you want to know, right now, you're here. 176 00:09:50,609 --> 00:09:53,689 You want to know, like, how much, how much you'll be paying 177 00:09:53,689 --> 00:09:54,979 your marketing consultant. 178 00:09:55,529 --> 00:09:57,959 Now that you know what they do, you've heard the seven things, 179 00:09:58,219 --> 00:10:01,859 somehow you, three out of the four, or four out of the seven, you know 180 00:10:01,879 --> 00:10:03,409 very well that this is what you need. 181 00:10:04,599 --> 00:10:08,409 So we've come this far because you know, for sure, what you 182 00:10:08,409 --> 00:10:09,919 need is a marketing consultant. 183 00:10:09,939 --> 00:10:12,799 However, you are not quite sure how much you should expect 184 00:10:12,799 --> 00:10:14,059 to pay to hire that person. 185 00:10:14,399 --> 00:10:15,389 Do you have the budget for it? 186 00:10:15,669 --> 00:10:16,469 Can you afford one? 187 00:10:16,959 --> 00:10:20,529 So according to a report by Credo, the average hourly rate for a marketing 188 00:10:20,529 --> 00:10:27,494 consultant, depending on the years of experience, is Drumroll, 150 an hour. 189 00:10:28,674 --> 00:10:30,674 Um, that might sound like a lot for some people. 190 00:10:31,124 --> 00:10:32,674 That might not sound like a lot for some people. 191 00:10:33,034 --> 00:10:37,114 You're probably thinking that you could pay them a flat fee of 1500 a month. 192 00:10:37,604 --> 00:10:42,194 Or maybe 3, 000 a month, depending on your budget that you have available. 193 00:10:42,794 --> 00:10:44,924 If you're a six figure business, it just depends. 194 00:10:45,464 --> 00:10:50,184 However, remember that they will not be as expensive as a regular Marketing 195 00:10:50,184 --> 00:10:55,734 Director, which has an annual salary of a minimum of 150, 000 a year. 196 00:10:56,564 --> 00:11:00,444 There's no need to pay a Marketing Consultant 12, 500 a month. 197 00:11:00,804 --> 00:11:04,674 Unless you are a multi million dollar organization with a team of 198 00:11:04,684 --> 00:11:06,704 100 employees in marketing alone. 199 00:11:07,704 --> 00:11:10,654 The beauty of hiring a marketing consultant on a part time business is 200 00:11:10,664 --> 00:11:15,854 that you get the impact of your marketing expertise

without a ridiculous price tag. 201 00:11:16,524 --> 00:11:20,854 So someone like me, um, can do a project based fees. 202 00:11:21,464 --> 00:11:24,734 around 7, 500 over a three month period. 203 00:11:25,744 --> 00:11:31,324 In fact, other names for these types of marketing consultants include a fractional 204 00:11:31,324 --> 00:11:35,844 CMO or fractional chief marketing officer or fractional director of marketing. 205 00:11:36,904 --> 00:11:39,894 So now that you know the price of how much, how much they normally 206 00:11:39,894 --> 00:11:41,954 charge is an hourly fee of 150. 207 00:11:41,954 --> 00:11:44,614 They do, sometimes they do like flat fees, et cetera. 208 00:11:45,464 --> 00:11:47,314 How do you budget this into your marketing plan? 209 00:11:47,324 --> 00:11:49,174 How do you figure out, can you afford it? 210 00:11:49,634 --> 00:11:52,404 Now, now that you have that freelance marketing consultant, great, it's 211 00:11:52,404 --> 00:11:53,574 time to figure this thing out. 212 00:11:53,894 --> 00:11:57,629 It's a standard practice to set aside 20 percent of your sales 213 00:11:57,659 --> 00:11:58,939 as part of your marketing budget. 214 00:12:00,109 --> 00:12:03,209 I've seen other places online where the figure is much lower 215 00:12:03,209 --> 00:12:06,179 because they are saying that it depends on the target audience. 216 00:12:06,569 --> 00:12:09,479 In fact, I've seen suggestions of between 2 percent and 10 percent of 217 00:12:09,479 --> 00:12:12,929 sales and again, it could be 2 percent of a multi million dollar company 218 00:12:12,929 --> 00:12:15,629 and even that might be too small. 219 00:12:15,999 --> 00:12:21,019 After working with several businesses over the years, what I've seen work effectively 220 00:12:21,019 --> 00:12:25,159 is It's a budget of somewhere between 10 percent and 25 percent of sales. 221 00:12:25,829 --> 00:12:29,359 Included in the figure is the cost of hiring team members as a social 222 00:12:29,359 --> 00:12:33,149 media manager, copywriter, graphic designer, ads manager, SEO specialist. 223 00:12:33,739 --> 00:12:34,389 etc. 224 00:12:34,879 --> 00:12:38,999 By the way, copywriters are not cheap, and the work that they 225 00:12:38,999 --> 00:12:40,909 do is very, very effective. 226 00:12:41,389 --> 00:12:44,379 SEO specialists do require a long term view. 227 00:12:44,719 --> 00:12:46,209 Say, for example, 12 months of work. 228 00:12:46,239 --> 00:12:49,089 Whereas, you know, the copywriter is just project work. 229 00:12:49,089 --> 00:12:55,399 You get them to do sales page, emails, um, uh, twice a year, and that's it. 230 00:12:56,759 --> 00:12:59,889 So let's look at a practical budget example, a real life one. 231 00:13:00,299 --> 00:13:04,129 If your business is doing 15, 000 a month, and you decide to set aside 20 232 00:13:04,129 --> 00:13:07,749 percent of that figure every month, then you'll have a monthly budget of 233 00:13:07,749 --> 00:13:10,169 3, 000 available to spend on marketing. 234 00:13:10,849 --> 00:13:14,679 This will work for a short term marketing campaign. 235 00:13:14,679 --> 00:13:16,359 For example, it's not a lot. 236 00:13:16,399 --> 00:13:17,949 I have to tell you it's not a lot. 237 00:13:18,299 --> 00:13:22,109 Um, for example, a social media manager could be between 500 and 800 a month. 238 00:13:22,609 --> 00:13:26,669 Um, if you want, you know, to outsource that, um, and then if you 239 00:13:26,669 --> 00:13:29,629 hire someone who does the marketing, like a marketing consultant for 240 00:13:29,629 --> 00:13:33,839 you, um, and an SEO specialist, you know, again, it starts adding up. 241 00:13:34,369 --> 00:13:38,199 Um, by the way, you should, uh, be doing three to four launches 242 00:13:38,229 --> 00:13:39,679 a year on top of the evergreen. 243 00:13:39,679 --> 00:13:43,269 So say you have an evergreen, um, consistent income 244 00:13:43,269 --> 00:13:46,239 coming up 15, 000 a month. 245 00:13:46,619 --> 00:13:49,399 You should be doing three to four launches a year on top of that. 246 00:13:49,769 --> 00:13:52,789 on top of that evergreen money, on top of that evergreen revenue, 247 00:13:53,069 --> 00:13:56,409 which will help you to have a a much bigger budget for, for marketing. 248 00:13:56,409 --> 00:14:00,019 So for example, um, you have 15, 000 a month, and then when you do, when you 249 00:14:00,049 --> 00:14:05,249 launch, when you do a launch of a product, product launch, or course launch, or 250 00:14:05,249 --> 00:14:10,679 whatever it is, you'd have an additional 30, 000 every three months that you can, 251 00:14:10,709 --> 00:14:12,699 you know, dedicate towards marketing. 252 00:14:13,309 --> 00:14:18,239 Um, if you need help, by the way, Uh, helping with evergreen 253 00:14:18,269 --> 00:14:19,559 and your launch campaigns. 254 00:14:19,859 --> 00:14:22,029 So for example, you didn't know you need to launch three or four times 255 00:14:22,029 --> 00:14:25,269 a year, or you, you suck at launches or, you know, whatever that is, 256 00:14:25,289 --> 00:14:26,559 you should check out my portfolio. 257 00:14:26,559 --> 00:14:29,419 I've left a link in the show notes, head over to successandscramble. 258 00:14:29,419 --> 00:14:32,569 com forward slash EP 274 to get access to it. 259 00:14:33,199 --> 00:14:38,529 And you can see how I've helped other businesses like yours to go from, um, 260 00:14:38,559 --> 00:14:42,379 say 15, 000 a month, uh, all the way up to a hundred thousand dollars a month. 261 00:14:44,564 --> 00:14:48,274 You can start to exponentially improve your business results by just hiring a 262 00:14:48,274 --> 00:14:53,684 fractional CMO for as little as 5, 000 or 1, 000 a month on an as needed basis. 263 00:14:53,874 --> 00:14:57,584 There's also the option to hire a good consultant on a project by project 264 00:14:57,584 --> 00:14:59,694 business for a flat fee or a flat rate. 265 00:15:00,684 --> 00:15:06,374 Okay, so you're probably Um, have

a number of questions that you need to 266 00:15:06,404 --> 00:15:08,004 clear up before taking that next step. 267 00:15:08,524 --> 00:15:12,574 So let's look at the most frequently asked questions that many small 268 00:15:12,574 --> 00:15:16,214 businesses have before hiring their first fractional director of marketing. 269 00:15:16,574 --> 00:15:19,774 Number one, how much should I pay a marketing consultant? 270 00:15:20,064 --> 00:15:22,654 The reality is that it depends on a few factors. 271 00:15:22,904 --> 00:15:28,134 The skills you need in your business right now, what results you're hoping to 272 00:15:28,134 --> 00:15:32,364 achieve, their experience level, how much budget you have available for each month, 273 00:15:32,774 --> 00:15:37,894 the quality of the work, of the work that they're going to produce for you, or that 274 00:15:37,904 --> 00:15:40,444 you need, because there's the quality of the work that they produce and the 275 00:15:40,444 --> 00:15:41,604 quality of work that you actually need. 276 00:15:41,984 --> 00:15:45,684 While the average rate is 150 an hour, there's also wiggle room to do 277 00:15:45,734 --> 00:15:47,694 the profit share to sweeten the deal. 278 00:15:47,734 --> 00:15:51,259 So for example, you might say, okay, can we afford 500 a month. 279 00:15:51,299 --> 00:15:56,889 And, um, on top of that, I will give you 3 percent of revenue, uh, that 280 00:15:56,889 --> 00:16:01,389 you generate, for example, or revenue or profit increase, whatever it is. 281 00:16:02,239 --> 00:16:03,429 Number two, second question. 282 00:16:03,629 --> 00:16:06,439 What is an acceptable marketing budget when considering bringing in, 283 00:16:06,789 --> 00:16:08,379 bringing on a marketing consultant? 284 00:16:08,659 --> 00:16:12,169 There are so, there are many, many sources online that suggest a budget 285 00:16:12,169 --> 00:16:14,359 between 2 percent and 5 percent of sales. 286 00:16:14,359 --> 00:16:16,579 However, based on my experience, you're better off. 287 00:16:16,929 --> 00:16:20,049 Setting aside between 10 percent and 25 percent of sales. 288 00:16:20,319 --> 00:16:23,519 The reason for this is that you need to hire a small team to help 289 00:16:23,519 --> 00:16:25,479 you implement your marketing plan. 290 00:16:25,489 --> 00:16:29,779 You can just hire a marketing assistant, for example, and pay that person, 291 00:16:29,789 --> 00:16:34,019 say, 500 or 1, 000 a month to help you implement what it is you need. 292 00:16:34,029 --> 00:16:37,299 And as that business grows, you keep hiring, hiring more team members. 293 00:16:37,889 --> 00:16:41,789 Number three, what kind of results can you expect from a marketing consultant? 294 00:16:41,899 --> 00:16:44,819 Again, it really depends on why you want to hire them in the first place. 295 00:16:45,299 --> 00:16:46,839 What type of work would you like them to do? 296 00:16:47,309 --> 00:16:51,989 So before rushing off and hiring someone to help you execute marketing 297 00:16:51,989 --> 00:16:55,189 plans for your business, spend time thinking about why you want 298 00:16:55,189 --> 00:16:56,259 to hire them in the first place. 299 00:16:56,539 --> 00:16:59,239 Are you looking to increase sales or leads by 10%? 300 00:16:59,569 --> 00:17:01,959 Make your brand more lovable? 301 00:17:02,169 --> 00:17:03,329 Increase market share? 302 00:17:03,579 --> 00:17:05,259 Get help with an ad campaign? 303 00:17:05,649 --> 00:17:07,659 Or get more visibility around your customer journey? 304 00:17:09,064 --> 00:17:13,214 When you know what you need, then you'll be able to, uh, better able to 305 00:17:13,214 --> 00:17:15,694 choose the perfect match for the job. 306 00:17:15,944 --> 00:17:18,854 Because not all marketing consultants are created equal. 307 00:17:19,124 --> 00:17:20,474 They don't all do the same thing. 308 00:17:21,694 --> 00:17:23,434 For example, making your brand more lovable. 309 00:17:23,444 --> 00:17:26,384 That's not something I would do because I'm not into branding. 310 00:17:26,764 --> 00:17:29,054 But some, some marketing consultants do that. 311 00:17:29,754 --> 00:17:32,944 Unlike a regular employee, lunch hours, sick days, vacation time. 312 00:17:33,239 --> 00:17:36,299 will not be a worry for you because this person is a freelancer. 313 00:17:37,259 --> 00:17:40,169 Number four, what should be included in your marketing budget? 314 00:17:40,714 --> 00:17:44,764 This is a great question, and it's easy for you to forget all the many things 315 00:17:44,764 --> 00:17:46,664 that you need to promote your business. 316 00:17:46,884 --> 00:17:49,294 Here's a short list of things, of the things that you should include. 317 00:17:49,634 --> 00:17:51,174 Tools, software, and apps. 318 00:17:51,234 --> 00:17:55,724 Tools like, you know, your CRM, um, software that you use, like for example, 319 00:17:55,724 --> 00:17:59,664 Canva, you've got a monthly budget for Canva, um, any kind of social media, 320 00:17:59,734 --> 00:18:02,714 um, schedulers, you know, all of those things you need to include in your budget. 321 00:18:03,524 --> 00:18:06,274 A percentage of your utility bills, like heat, light, broadband, 322 00:18:06,274 --> 00:18:08,954 and phone, because you need your phone to put your apps, actually. 323 00:18:09,569 --> 00:18:12,589 Um, comment, engage in posts and stuff on social media. 324 00:18:12,589 --> 00:18:15,149 So remember that as well, employees and freelancers. 325 00:18:15,149 --> 00:18:19,839 If you have those, your ad spend, memberships and subscriptions, training, 326 00:18:19,929 --> 00:18:24,119 coaching, office space, that those are eight things that people tend to forget 327 00:18:24,379 --> 00:18:29,929 when it comes to their marketing budget, as you can see, or here, it is quite. 328 00:18:30,274 --> 00:18:33,294 Easy to forget all the things that go into promoting your business. 329 00:18:33,784 --> 00:18:38,304 For me, I always, always, always forget the

apps and the storage. 330 00:18:38,874 --> 00:18:41,714 Always storage, you know, because you have to store all of these things. 331 00:18:41,714 --> 00:18:43,934 I have, I pay for storage every month on my phone. 332 00:18:43,934 --> 00:18:45,894 I also pay Google storage as well. 333 00:18:46,354 --> 00:18:51,684 I just saw on my, my, um, my bank account, a charge for, you know, 334 00:18:51,904 --> 00:18:54,064 Apple, uh, Apple subscription. 335 00:18:54,064 --> 00:18:55,344 And I'm just like, what's that for? 336 00:18:55,344 --> 00:18:57,024 And I had to go in and see what, what app it is. 337 00:18:57,054 --> 00:18:57,904 So it's VSCO. 338 00:18:57,934 --> 00:19:01,304 I forgot that it's there, you know, it's, it's everything that's, you know, it just 339 00:19:01,344 --> 00:19:07,114 all adds up at the end of the day, because I need VSCO to make the, the, um, Reels 340 00:19:07,124 --> 00:19:08,984 videos look a little bit more aesthetic. 341 00:19:09,414 --> 00:19:10,484 So I use that as well. 342 00:19:10,484 --> 00:19:12,724 So, you know, all of those, it's like, okay, it's a yearly fee. 343 00:19:12,724 --> 00:19:13,614 So it's easy to forget. 344 00:19:14,094 --> 00:19:16,674 Um, things to clean up your laptop, you know, there's just so many things, 345 00:19:16,674 --> 00:19:19,964 so many things that you buy when, when the subscriptions that you apply 346 00:19:19,994 --> 00:19:22,984 that you, you know, you buy every month, every year, whatever it is. 347 00:19:23,624 --> 00:19:27,754 So as a teenager, when I heard the name consultant, I always thought that a 348 00:19:27,754 --> 00:19:32,284 person would charge anywhere between 10, 000, 100, 000 for their services. 349 00:19:32,284 --> 00:19:35,834 However, we now live in a society where you can get the 350 00:19:35,834 --> 00:19:37,074 help that you need to grow. 351 00:19:37,574 --> 00:19:41,564 personally and professionally for a small fee rather than a king's ransom. 352 00:19:41,974 --> 00:19:46,694 Yes, the market rate for bigger organizations will be much higher. 353 00:19:47,564 --> 00:19:50,834 While starting a business can be difficult, growing that business 354 00:19:50,834 --> 00:19:58,509 exponentially without the proper help can be I can't help but giggle at the 355 00:19:58,509 --> 00:20:03,209 fact that the number of social media channels to manage is increasing, which 356 00:20:03,229 --> 00:20:04,719 is quite stressful for entrepreneurs. 357 00:20:04,749 --> 00:20:05,589 Look at trends. 358 00:20:05,979 --> 00:20:06,999 Oh my goodness. 359 00:20:07,439 --> 00:20:09,639 Believe it or not, reels in all of those things. 360 00:20:09,859 --> 00:20:13,379 Believe it or not, I taught that growing your business from 15, 000 a 361 00:20:13,389 --> 00:20:16,119 month to 100, 000 a month is difficult. 362 00:20:16,169 --> 00:20:20,204 But actually After helping at least one client achieve this goal, 363 00:20:20,204 --> 00:20:21,684 my eyes have truly been opened. 364 00:20:21,684 --> 00:20:25,454 To put it in a nutshell, it is not as hard as those coaches 365 00:20:25,464 --> 00:20:27,194 out there are telling you it is. 366 00:20:27,834 --> 00:20:31,234 If you need help with your coaching business to grow exponentially, 367 00:20:31,564 --> 00:20:32,814 take a look at my portfolio. 368 00:20:32,814 --> 00:20:34,604 Again, head over to the show notes successandscramble. 369 00:20:34,764 --> 00:20:38,354 com forward slash EP274 to get access to the show notes where you 370 00:20:38,354 --> 00:20:39,834 can see the link to my portfolio. 371 00:20:40,234 --> 00:20:43,674 And if you like what you see, book a call with me and we can discuss 372 00:20:44,064 --> 00:20:46,694 requirements in even more detail.