Whether companies fall in the small and medium-sized business (SMB) category or are in a large enterprise league, They always need a marketing budget. This is a key part of their earnings. Those who wish to get more buck for the bang in their marketing spending. They also should understand the costs of running a marketing agency.
A little refresher: Marketing agency expense is how much a company pays overall for outsourcing its marketing services. Companies might end up paying either a lump sum or a monthly rate, depending on the subscription services.
Defining a marketing agency
A marketing agency is a marketing company. It is run by educated and trained people with professional expertise in creating, planning, executing and monitoring different advertising and marketing tactics. They also execute and promote related content on behalf of their clients.
Three kinds of marketing agencies exist.
- The first one is a traditional marketing agency that works with print and traditional electronic media such as magazines, newspapers, radio, and television.
- On the other hand, digital marketing agencies work with online media such as social media platforms, search engine optimization (SEO), search engine marketing (SEM), email marketing, pay-per-click (PPC), and other forms of digital and online marketing.
- Hybrid agencies are those which offer services of both a traditional and digital agency. In one way they are offering the best of both worlds.
What is the work a marketing agency does?
Marketing agencies can also fulfill the requirements of contracts based on the objectives of clients. Companies usually outline their objectives and work with them to find the needed steps to achieve them, before they work with marketing agencies. Here are typical responsibilities of marketing agencies:
- Brand management.
- Marketing research.
- Account/portfolio planning.
- Tracking analytics.
- Digital Marketing.
- Web design and development.
Marketing agencies usually handle all aspects of the marketing and advertising plans whilst removing excess workload off their clients.
The expense incurred by a digital marketing agency each month
The costs incurred by a typical digital marketing company in Dubai ranges between $900 to $20,000 each month on average. Usually, the expenses incurred by them depend on many factors. Then again, it helps many understand the averages of each service before they reach out. This way, companies can choose an agency within their range and obtain the needed services.
Copmpanies may use either or all of the following tactics depending on the kind of contract they signed:
- Email marketing
- Content marketing..
- Pay-per-click (PPC) advertising.
- Social media marketing (SMM).
- Search Engine Marketing (SEM).
- Search Engine Optimization (SEO).
Let us have a good look at the break down of different prices of each method of digital marketing:
- Email marketing: $300 – $1,500.
- Pay-Per-Click (PPC): $350 – $5,000.
- Social media marketing (SMM): $900 – $20,000.
- Search Engine Optimization (SEO): $1,500 – $5,000
Let us explore key digital marketing tactics and their expenses in brief detail:
Social media marketing (SMM)
The pricing of social media marketing can have everything. It can start from management to one-off projects. Companies often invest between 4000 and 7500 dollars on Social media Management each month.
Social media services usually cost around 900 to 20,000 dollars a month. Social media consultants typically cost between 75 and 500 dollars an hour. Here are some services a social media agency or a social media team from a digital marketing agency can provide:
- Social media management and marketing.
- Content generation.
- Social media post scheduling.
- Managing customer service via social media channels.
Email marketing
The expenses of email marketing depend on the kind of services outsourced to companies. Companies can expect to spend $1000 each month for self-managed email marketing. Alternatively, they can spend 300 to 1500 dollars if they are working with an agency.
A lot of companies write and send out in-house newsletters without an expense. Once they are immersed in normal daily business operations, that kind of in-house marketing can become challenging. Companies desiring upgrading their marketing emails may consider working with a dedicated team or a dedicated agency.
Here are some common email marketing services offered:
- Content creation.
- Software for automating emails.
- Monitoring and scheduling emails.
It should be known that the return on investment (ROI) in email marketing is substantial. Companies earn 44 Dollars for each Dollar spent.
