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Marketing Consultant Invoice Template

A marketing consultant invoice records the total time and cost spent assisting a startup, small business, service provider, or other entity with their digital and non-digital marketing and branding efforts. Marketing consultants can work on their own as independent consultants or for a marketing agency. Their services are typically only called upon when a business requires their service instead of being regularly employed by a single firm.

Table of Contents

What is a Marketing Consultant?

A marketing consultant is an expert in developing marketing strategies for businesses; they understand how to motivate customers and have a myriad of tools to analyze opportunities within the companies they are hired to consult.  They can assist companies with traditional and digital (online) marketing and advertising, although some choose to focus on one of the two to perfect their craft.

Charging for Marketing Consulting

Marketing consulting services are usually priced on an hourly ($/hr) basis. Surprisingly, coming up with an hourly rate is a relatively simple matter, as seen below.

Step 1 – Yearly salary

Those looking to act as a consultant as either a part-time or full-time gig should make a well-reasoned determination of the yearly salary they would like to earn. Unlike working for a firm or other salaried position, the cost of things like health and dental insurance, transportation, and company-related software and subscriptions will fall onto the consultant’s shoulders. A yearly salary below the desired level may be necessary for those just starting to attract and maintain clients, who exceptionally high rates can put off. For this example, imagine a starting salary of $50,000, which is a little over $9,000 greater than the average entry-level marketing consultant salary of $40,719, according to PayScale.

Step 2 – Hours worked in a year

Next, the total work hours in a year have to be calculated/estimated. If the consultant is planning on working every week of the year (very unlikely) with forty (40) hour work weeks, the total number of hours would be 2,080 (52 X 40). However, it would be irrational to assume there would be no vacation days or a simple day off from work. Additionally, being consultants that aren’t employed by a single company, having work lined up for every day of the year is exceedingly tricky. For some, 1,800 yearly hours is ideal. For others, it may be 1,500. For part-timers, even lower, and so on. We’ll use 1,800 hours as an example, as it accounts for ample time between clients or extended vacation time.

Step 3 – Use the formula

The Marketing Insider Group uses the following formula to determine an hourly rate ($/hr) marketers can use for their services; it is as follows:

[Yearly Salary ÷ Yearly Number of Hours] = Hourly Rate ($/hr)

Considering the previous numbers, the hourly rate charged would be: [$50,000 ÷ 1,800] ~ $27.78/hr. Consultants should expect this number to change based on their experience and the difficulty of the work they are tasked with, but this method should be more than adequate for gathering a starting figure.

Marketing Consultant Salary & Hourly Rate ($/hr)

  • Salary: $59,603/yr (Source: PayScale)
  • Hourly Rate: $35.14/hr (Source: PayScale)