30,000 new products launch every year; however, about 80% of these launches fail.
While some go wrong due to lack of interest, others fall from lackluster marketing. If you’re preparing a product launch, you’ll want to know how to make it into the successful 20%. The answer: find a digital marketing agency to help you develop a successful strategy.
Let’s dive into how much digital marketing agencies charge and how to discover a team that will help your business grow.
Ask Yourself These Questions
Before diving into how much a digital marketing agency costs, compile a list of reasons why you want an advertising partner. Do you want a team to create campaigns for you? Maybe you want an agency that will only handle distribution? Or perhaps you are looking to drive sales and traffic via social media content, PPC advertising, or Search Engine Optimization (SEO).
While writing the reasons, consider time and budget factors as well. Do you want a partner for the foreseeable future or a single project? What does your annual marketing budget look like?
When interviewing companies to work with, have a list of questions on hand. Use the specifications to find a partner who matches your work style and ethics.
The Cost Factors of Digital Marketing Agencies
When searching for the right digital marketing agency to partner with, look for factors that would affect their pricing. Do you have your sights set on popular, big-name firms? Maybe you want to work with a smaller, more personable agency?
Next, what digital marketing services do they offer? Do you want an agency focused solely on online campaigns and immediate returns? You might be seeking long-term results.
Keep your goals for business expansion in mind as well. Do you want to aggressively market your products or play the long game? Make sure that whatever digital marketing agency you choose aligns with your pursuits.
What Cost Structure Works Best for You?
Once you’ve decided which kind of services you’re looking for in an internet marketing agency, it’s time to determine which cost structure works best for your business. Most contracted companies use either hourly rates or project-based fees.
Do you want an advertising agency partner who you can turn to regardless of the project you’re working on? If so, an hourly rate cost structure could provide numerous benefits.
When you pay by the hour, you’ll only pay for the work you need. Plus, you can ask for endless edits and revisions while fairly compensating your partner. Hourly pricing is ideal for clients who are unsure of how long a project will take.
If you have a detailed timeline for a product launch or a specific project that needs to be completed, such as a website redesign, consider using a project-based fee structure. When you choose an internet marketing agency that charges project-based fees, make sure that you provide your partner with an accurate scope of work and project specifics. Without room for edits and revisions, you might need to pay additional expenses to get the quality of work you desire.
Since certain digital marketing services like social media management and SEO are long-term projects, you may consider a contract model. It’s beneficial to partner with an experienced internet marketing agency that can help your business move towards long-term, sustainable growth.
Want to Partner With a Digital Marketing Agency?
With an insider’s guide to how much digital marketing agencies charge, you’re ready to dive into the process of choosing the right partner for you. At Actuate Media, we are dedicated to providing you with fairly priced, high-quality advertising content.
Contact us today to learn more about our services!