When we speak with small business owners about our services and how much value we can bring to their company, we often hear that it’s not affordable. The biggest question that many want to know is, how much does digital marketing cost? The short answer is, when done correctly, digital marketing pays for itself.
When you hire a digital marketing professional, our goal is to maintain profitability. Our portfolios and credibility rely upon how much we can increase our clients’ sales and brand reputation. Digital marketing is not a monthly expense but a monthly investment.
Let’s say, for example, your marketing campaigns operate at a loss for the first one to two months. In the third month, you break even, and in the fourth month, you begin to double your profits. If you can maintain a rate of doubling your investment every month, would you still be upset about the first two months?
Another example, a client of ours averages $1.75 in return for every $1 spent on marketing, including our service fees. At first glance, this may not appear to move the needle; however, it is all last-click conversion (see our last blog post for more about measuring solely on last-click conversions). These conversions do not account for the callers that requested a callback, were price shopping or planned to have somebody call back in with a method of payment. In addition to these conversions, this client also receives more than 200 inbound leads every month.
On average, we spent $45 to accumulate a lead from our advertising, but our average conversion value is $710. While our last click conversion rate may be less than 10%, accounting for the assisted conversions, this client realistically is averaging a return of over 400% to 500%.
Our mission with Trindie is to ensure our approach is to lay out the best strategy possible to get your marketing program profitable within 45 days. We start with establishing clear goals and building a road to accomplishing them. Before we spend one dollar, we outline a strategy that accounts for your website’s conversion rate, average order value, cart abandonment, and anticipated return. We don’t start until you, the client, sign off on our budget and strategy.
