It is a no-brainer that digital marketing is essential for the success of a small business in the current context. However, pricing is a major concern when people approach a digital marketing agency for small businesses. The good thing is due to competition between digital marketing agencies, you can find competitive rates for the services you need. There are different pricing strategies adopted by digital marketing agencies. This blog defines four common pricing strategies so that you can choose the right one that suits your business.
Most of the digital marketing agencies that start uses hourly-based pricing strategies. This is good for agencies as well as clients who are unsure how long the project can take. Not only it is a straightforward way of pricing but also helps you to stay within the budget. However, it helps if you have an idea of how many hours your project requires.
Some digital marketing agencies follow pricing based on the project. For example, if you are hiring an agency for your brand’s identity package, they will have a predetermined price. It is a comprehensible pricing model. If you are choosing a project-based pricing model, you can expect the agency to complete a sample task before agreeing to long-term commitments.
If your business requires an agency to do a large volume of work each month, then the retainer pricing model is a good option. You should agree to a prepaid sum as per the project requirements and set deliverables every month. This makes it easier for businesses to do accounting and payment as the monthly expense is predetermined.
Recurring Pricing Model
Some of the digital marketing services are long-term projects. For example, SEO is not a one-time activity. It needs frequent upgrades as per the changing search engine algorithms. You might need a recurring pricing model if you need extended services.
Are you looking for a digital marketing agency for small businesses that offer competitive rates? Get in touch with our team with your requirement today!