Digital marketing is essential to maximise a business’ potential for growth, it should come as no surprise that more businesses wish to partner with a quality digital marketing agency. So, how much should you invest in digital marketing? The answer depends on a number of factors – factors that are exclusive to your business. For example, your goals and your marketing budget.
The COVID-19 pandemic has had a huge impact all over the world, which is terrible. However, during this working from home time period, there is a great opportunity for businesses to work on their marketing strategies.
Take a look at what determining factors are involved in pricing digital marketing services.
Agency Experience
There are clear benefits to partnering with a digital marketing agency that has experience. The experience of an agency demonstrates, at least to a large extent, their overall marketing knowledge and their capacity for achieving client goals. Because of their expertise and the value placed upon it, experienced agencies frequently charge more for their services. Experience comes with a value, and it can have a direct impact on your marketing strategies.
The Size of Your Company
A further significant factor in determining price is your own company’s size. Small to medium-sized businesses will not have nearly the same marketing budget that international corporations enjoy. Not only that, but the target market will be a different size depending on how small or large the company is.
Complexity of Strategy
For the most part, the budget you have available for digital marketing tends to influence the complexity of your strategies. For example, if you wish to invest a significant amount in a more aggressive PPC campaign, you should expect to pay more for it than if you were to invest in an average campaign.
Why?
There’s more work involved in an aggressive campaign. Further, for a PPC campaign, there’s bigger spend involved since it’s paid advertising. So, in short, you pay more because you buy more. If you opted to invest in an array of digital marketing strategies, the same concept would be applicable. For example, if you were to invest in PPC and SEO, you’d pay more because you’d want more.
Agency Services
A further influencer on the pricing of marketing services is the agency’s services. For example, Herdl can cover all of your marketing needs, from branding to PPC.
If you were to partner with a specialist agency, all of your digital marketing requirements could be handled in a single ‘place’. This saves you time. It also saves you the hassle as you don’t have to work with multiple agencies who could vary in their processes as well as their deliverables.
Timeline
What does the timeline have to do with digital marketing service pricing? Well, there are some strategies, take SEO, for example, that come with prolonged timelines as it takes time to see results. PPC, on the other hand, can produce much faster results.
Benefits of Working With an Agency
Because digital marketing services are influenced by so many factors, it’s important to be aware of the unique selling points – the USPs, of an agency. An agency’s USPs may not impact the costs of your deliverables, but an agency’s USPs will affect the experience you have as a client. An example of this is that you want to, for obvious reasons, partner with a digital marketing agency that is experienced and is well trusted – an agency that is proven to provide its clients with real and tangible results.
This sort of partnership provides you with assurance, and you’ll feel confident that your strategy will 100% reach the goals that you have established for it.
It’s a core aspect that every marketing agency should cater to, but that is often not the case. Every agency should consider your success as their success, and they should measure their performance by your results and your overall satisfaction.
What You Should Look Out for When Researching Cost of Digital Marketing Services
Throughout your research, you should pay close heed to the following factors, all of which are critical.
Deliverables
You do have to understand what it is that you are paying for. This is why you should review the deliverables of all agencies that you are interested in before choosing the one you want to work with. Don’t be tempted to choose an agency that is unclear about what it is they will provide. Instead, partner with an agency that is completely upfront and transparent about the services they offer.
Price
For many agencies, they prefer not to disclose pricing on their websites. This can lead to quotes being overpriced and hidden fees becoming part of the agenda. If an agency you have an interest in does publish their pricing, which they should, be sure that their published prices are in full alignment with the quote you receive.
Methods
If you come across any very low prices for digital marketing services, the chances are that the agency responsible follows a marketing method that consists of one size fits all. A one-size-fits-all strategy does not lend itself to the sort of return that digital marketing can provide. And that is why you should choose an agency that avoids the one-size-fits-all scenario in favour of a personalised approach.
Through Digital Marketing Your Business Remains Competitive
Regardless that your business operates in the online world, in the offline world, or in both, no doubt it’s in a competitive market. That’s why digital marketing is so critical to businesses these days.
If you do want to reach your target audience, if you wish to increase your revenue, if you would like to boost the awareness of your brand, then there’s no question that you must make an investment into digital marketing.
If you would like to talk about your digital marketing needs more, or if you have any questions, then make the leap and get in touch with Herdl!