Tech-Enabled Services: How Much Do Tech-Enabled Services Cost?

How much do technology-enabled services cost?

Technology-enabled services for digital marketing, cost $2500 to $12,000 per month. This price range refers to solutions for small-to-midsized businesses versus solutions for enterprise-level organizations, which generally require custom pricing.

What determines tech-enabled service pricing?

A few factors influence how much tech-enabled services cost, including:

Solution

One of the most influential pricing factors for tech-enabled services is the solution.

What is your business using tech-enabled services to solve, for example? Are you looking to streamline and align your marketing and sales efforts, for instance? Or, are you searching for a solution to resolve supply chain issues?

Depending on the solution, your company may see higher or lower rates.

Competition

Competition between tech-enabled service providers is another pricing factor.

If your business is searching for a tech-enabled solution and only one provider exists, then they have command over the market. While this pricing factor is rarely a long-term issue, it’s one worth considering when researching solutions.

Software

Another big tech-enabled service pricing factor is the software itself.

The software is the solution your business pays to access and use.

It’s often how tech-enabled service providers separate themselves from one another. For example, MarketingCloudFX is a tech-enabled solution, and one of the ways it separates itself is through using IBM Watson, which is one of the most advanced artificial intelligence systems in existence.

Generally, more advanced tech-enabled solutions will come at a higher price. If the software was created and developed in-house, versus sourced from a third-party, this factor could also lead to a price increase.

Overall, this price difference could range from a few dollars to hundreds of dollars.

Services

The more tech-enabled services you use, the more you’ll pay — in most cases.

For example, if you’re looking at tech-enabled marketing, you may invest in a few different services, like SEO services, which costs $1500 to $5000 per month, and content marketing, which costs $2000 to $10,000 per month.

Investing in both, versus one, leads to higher tech-enabled services pricing.

That doesn’t mean your business should limit the number of services it uses, as many will coordinate with one another. Content, for example, is a critical part of a successful SEO strategy because optimized SEO content is what gets your business in search results and in front of potential clients.

Team

The team at an agency offering tech-enabled services will also influence how much tech-enabled services cost. If you’re choosing a provider with an experienced team, that can translate to slightly higher rates.

This pricing model, however, makes sense.

You’re getting to work with and access technology from a top-rated team. Their experience can also help your business get the most value from the service and the software, which can result in higher returns from your investment.

Is it more cost-effective to use tech-enabled services or an in-house solution?

Many companies wonder whether it’s smarter (in the long-term) to develop an in-house solution or use tech-enabled services. It’s a fantastic question. Answering it, however, requires considering several factors unique to your business.

A few questions to ask, for example, include:

• How much is our company willing to invest, upfront, to develop this solution?
• What is our company’s preferred timeline for launching this product?
• How long will it take our company to generate a return from this solution?
• Who will oversee and manage this development project, as well as maintain the live product?
• Will our company use a third-party solution until our in-house one is live?
• How will your internal product meet your needs better than a third-party one?

All these questions can help you hone in on whether an internal tech-enabled product is the best option for your company. If your business doesn’t have the resources to complete development by the designated date, for instance, you may want to put the idea on pause.

Generally, enterprise-level organizations have the capabilities to develop in-house tech-enabled solutions. Most small-to-midsized companies find it’s a more valuable use of their time, money, and resources to invest in tech-enabled services versus an in-house solution.

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FAQs about tech-enabled services

Do you have additional questions about tech-enabled services? Browse our FAQ:

What are tech-enabled services?

Tech-enabled services are hardware or software solutions that clients can use to streamline, improve, and complete processes. Almost all tech-enabled services operate on a subscription model and offer 24/7 access to clients.

Why use tech-enabled services?

Tech-enabled services offer a few benefits, including:

• Provide a cost-effective solution to in-house alternatives: Establishing a comparable solution to a tech-enabled service requires a significant investment of money, time, and resources. With tech-enabled services, you don’t have to worry about this cost.

• Allow immediate adoption and access: Tech-enabled services offer your business instant access to their features and capabilities. You don’t have to wait for an internal team. Many service providers will also ensure a fast set up so you can start using their program as soon as possible.

• Offer fast integration and advanced customization: Since businesses across industries use tech-enabled services, service providers need to offer an easy-to-use solution that companies can adopt and customize to their needs.

• Maintain 24/7 accessibility: With tech-enabled services (and a trusted tech-enabled agency), you can count on reliable access and uptime to your solution. That means you can access your data any day of the week and any hour of the day.

While some businesses may decide to build a tech-enabled solution internally, it’s usually more effective from a cost, time, and resources perspective for small-to-midsized companies to invest in technology-enabled services.

What should tech-enabled services include?

Every tech-enabled service is different, but most should include:

• A dedicated account manager or point of contact
• A secure, login-protected platform
• An uptime guarantee
• A customizable platform

Depending on the tech-enabled service, you may want to look for other features.

For example, if you’re searching for tech-enabled marketing services, you should look for providers that offer an all-in-one dashboard for viewing your marketing data, plus have the means to sync with other platforms your business uses, like Salesforce.