The Cost of Running a Marketing Department
Our clients often ask how much they should budget for new marketing hires. Headcount is a huge component to the cost of running marketing within organizations. In the cliche people, process and technology saying, it’s literally the very first thing! And so, we’ve updated this infographic from 2014 with 2018 compiled salary range data for roles on a typical small marketing team. The sources we used are cited at the bottom of the infographic. In addition to these resources, we also used user-reported data via Glassdoor. For a deep dive into the differences between the 2014 version of this infographic and today, see this article, “How Marketing Salaries and Team Structure Have Changed in the Past Five Years“.
If you hired all these people at the lowest possible rates, your marketing head count would cost $738,500. If you got all of them at the highest rates, you’d dole out just under $1.5MM annually in marketing salaries. Of course, the majority of hires will fall somewhere in the middle.
Many marketing teams will choose to work with agencies to fill job roles until the volume of work constitutes a full-time hire. Common areas we see clients outsource before committing full-time marketing headcount include: design, SEO, public relations and copywriting. And of course, as a shameless plug, LeadMD acts as a resource for many of these roles from strategic guidance for VPs and CMOs through operational help and coaching to content writing and ad creation.
Marketing Department Skill Sets
Beyond salary information, you’ll also find specific skills called out in the middle section. One commonly overlooked cost of running marketing teams involves an investment in training and education. At LeadMD we’re huge proponents of ensuring the member of marketing teams have the tools they need. Too often, marketing leaders stop the tools at software, when training and education are where the true value lies.
Again, shameless-plug-central here, LeadMD’s sister company, Six Bricks, provides free marketing training and resources on everything form marketing ops to general marketing best practices. Check it out.
Meet Justin Gray
Justin is a serial entrepreneur and the CEO and founder of LeadMD, the world’s largest revenue operations agency having implemented over half of the Marketo user base. Justin has made a career of launching successful companies and scaling them, with successful exits of over 200MM+ in the last decade. Justin’s latest endeavor launched in 2016 when he co-founded Six Bricks an online learning startup designed to combat employee and customer churn through experience-based education. Over the past 10 years, Justin has emerged as a strong voice for entrepreneurship, marketing and culture. As a recognized speaker, Justin has been published over 350 times in industry publications and holds his own column, Tribal Knowledge in Inc., while writing for Entrepreneur, Tech Crunch and others. Justin and his wife Jennifer met over marketing and three years later welcomed their son, Grayson, into the world in April of 2017.