Digital Marketing Defined
Digital marketing grows your business through online marketing and advertising strategies. By using the internet, mobile devices, social media, search engines, and more, you are marketing digitally.
There are a constant change and evolution of modern technology that should be kept up with. Businesses should include digital marketing as one of their techniques because of how times have changed.
How Much Do It Cost?
Digital marketing services are typically billed in one or more of three ways: hourly rates, project-specific prices, and monthly retainers. Most businesses will pay between $90 to $240 for hourly services or $3,800 to $9,000/month per project. Digital marketing will account for 53% of total ad spend in 2020. This 12.4% increase is why businesses, big and small, are moving towards larger digital marketing budgets. Learn more about digital marketing and the costs of each technique here:
Digital Marketing Training Program provides a detailed understanding about Digital Marketing concepts, strategies, and implementation, including planning a website, website marketing, email and Search Engine Optimization (SEO) campaigns, Pay Per Click (PPC) campaigns and integrating digital marketing with traditional marketing.
The 8 big categories we do for Digital marketing:
- Search engine optimization (SEO) – Project-Based Fees (Monthly)
- Search engine marketing (SEM) – Project-Based Fees (Monthly)
- Content marketing & Guest Post – Hourly Basis Work
- Social Media Marketing (SMM) – Percentage of spend Basis Work
- Pay-per-click advertising (PPC) – Percentage of spend Basis Work
- Email marketing – Per email .02 cents | 2 BDT, minimum starts from 500 emails (10$ | 850 BDT) + Hourly Basis Work
- Online Reviews & Backlink with profile creation – Hourly Basis Work
- Affiliate marketing – Profit sharing Basis
Benefits of Digital Marketing
Digital marketing has become a popular form of advertising. This has a lot to do with how times have changed, but there are also a lot of benefits. Some benefits include:
- It’s the most powerful form of marketing.
- It is the most measurable form of marketing.
- Digital marketing can target your ideal audience easier.
- Most people begin their buyer’s journey online.
- Consumers are on social media and can be reached with digital marketing.
- It can help you connect with mobile customers.
- You can easily and quickly adapt your strategy for the best results.
- It is the most cost-effective way to market a business.
Perhaps one of the best benefits of digital marketing is that it is cost-effective. You spend less money and get better results.
Establishing a marketing budget
There are many philosophies on how to determine how much money you should invest in marketing and advertising. Many of these philosophies use some sort of mathematical formula to determine a budget.
In particular, many companies use a percentage of their revenue to establish the amount they’ll spend on marketing. However, there’s a wide variation between industries and companies on exactly how much to set aside.
The obvious question is, How much should you set aside for marketing and advertising?
Actual amounts can vary widely. Some of the clients dedicate as little as 5% of revenue to marketing and advertising, whereas others invest at much higher rates in the 20% and above range.
As a digital marketing agency, we’ve tried different types of engagement models over the years.
Most digital marketing consultants and agencies use one of three common engagement models: project-based fees, monthly retainer contracts, or hourly rates. We’ve included a fourth option – employment – to ensure you know all of your options.
We’ve found that the monthly retainer model works out the best for not only our clients but for us. As a marketing agency, we need to make sure that we fully understand the needs of each of our clients so that we properly staff and resource our company to fulfil those creative needs.
With all other models besides the agency model, significant turbulence is encountered in the day to day staffing needs of our clients which, unfortunately, leads to variability in the quality and urgency of deliverables.
Two of our core values won’t allow for that – Quality and Urgency – so we’ve dropped those other models in favour of the retainer model which ensure we can always live up to not only your expectations but to our core values.
The below engagement models are sorted from potentially least expensive to most expensive. Keep in mind that your cost and experience will vary based on your industry, region, and specific needs.
Our Modules and price:
Hourly Rates; 10$ | 850BDT
Project-Based Fees (Monthly): starts from 250$ | 21250BDT
The typical fee for PPC: 15% – 20% of your total ad spend
Digital Marketing Agency Pricing Guide: How Much Should You Charge?
For any business owner, the primary concern is to make sure that their business makes money. Just like every other industry, competition is fierce in the world of digital marketing. That only means you’ll need to have competitive prices so that customers are attracted to your agency. But you still need to make a profit in order to keep your digital marketing agency up and running.
Moreover, a profit is a healthy incentive that every business requires to thrive and grow. So for details, you may contact our team to know better price and details about your pricing modules and work load.