Saving costs involved in Digital Marketing is important. This advice will increase the ROI of any Digital Marketing Agency.
But, there are consequences as we save the costs in our complete digital marketing strategy & give no heed to the quality of work that we produce.
“Save Costs, but not at the cost of Mediocrity”
Where can you save costs in your Digital Marketing Plan anyway?
You venture into Digital Marketing under 2 instances
Either if you’re doing it for your own product OR When you are running a Digital Marketing Agency
Let’s begin with understanding instance #1.
Doing Digital Marketing for your own product gives you the freedom to broadly envision your brand. There are no strings attached. You are the one who will put money into the business & you won’t exploit yourself.
In that case, there’s no further comment.
BUT, if you have partial knowledge about digital marketing, then there is a decent chance that you will unintentionally compromise over quality because you would be chasing to save the costs.
A little knowledge is a dangerous thing – it only hastens fools to rush in where angels fear to tread.Samuel Johnson
The Digital Marketing Marketplace contains wicked people who sell fake likes and Marketing/Sales leads to people having partial knowledge of Digital Marketing.
For example, we all understand the importance of visual graphics in digital marketing. It’s a tool we use in visual storytelling, Brand communication, advertising and more.
Mistakes people commonly make to save the costs in Digital Marketing
Compromising on the quality of visual content.
Sure you may save costs using tools like Canva and amalgamate it with Free Stock Photos which is free to use. But before continuing you need to be certain that are you are really good at creating graphics, only then you will create the thumb-stopper kind of graphics.
Every Social Media Post is an opportunity to make or break your Brand.
Ever came across a Digital Marketing News Portal that discusses case studies or elaborates the examples of mediocre digital marketing campaigns that made use of amateur graphics?
Yeah, me neither!
If its come to your observation that your social media graphics aren’t up to the mark and people aren’t relating with the context; It’s high time that you consider the services of a professional graphic designer. You don’t have to look far, just head over to Upwork. The Freelancers there, are incredibly talented. You can negotiate a WIN-WIN bargain & get the job done.
Don’t think about the incremental costs, think about generating a qualified lead for your business that has a high likelihood to convert into a customer who in the long run will reward with more and more business plus new customers.
The outcome far outweighs the costs required in content creation.
Now let’s move over Instance #2
You are running a Digital Marketing Agency; you will calculate the costs over a client’s digital marketing requirements by taking into account how much the client is paying you. Because you aren’t ready to work in a breakeven, let alone work in a loss.
So how do you go about calculating the costs so that you still end up making a profit?
It is quite simple there is no complex algorithm to crack the code.
To begin with, never make false promises to acquire the client, if he has unrealistic expectations; then instead of fueling his illusion awaken the client even if it comes at the cost of losing the client.
In the hindsight, you will thank me. 😏
A client with unrealistic expectation who cannot be reasonable will probably end up as a bad debt for your agency. The same time can be committed to finding a reasonable client.
Now let’s get into where you can save potential costs.
Essentially your client will need Social Media Advertising and Google PPC Campaigns.
If your agency is competent with PPC Campaigns and has spent ample time running split tests & A/B Tests then you already know the winning audience and that simplifies moving things forward.
You will save money in advertising by optimizing on placements, advanced location targeting, laser demographics targeting, running the advertisement on the right time and date.
Leverage this knowledge & save costs in advertising.
Now let’s get into where you should spend money like a drunken sailor.
You should spend money on Tools automating the menial tasks that generate leads while you sleep so that you achieve more in less time with fewer resources.
Tools that an agency must have at all costs. The list contains tools that are on Freemium as well as Premium.
- Hootsuite: It’s a great tool for scheduling social media posts on over more than 5 Networks, you can generate social media marketing reports for your clients. [Freemium]
- Unmetric: For Content ideas and finding out what works and what doesn’t. [Freemium]
- Ahrefs: The Best Premium SEO Tool that there is, takes care of your complete Search Engine Optimization Requirements. No need to manually spend hours finding & refining data. This tool automates. As per sources, Ahrefs has recently challenged Google that it will roll out its own search engine. [Premium]
- Aweber: An email marketing service provider for agencies and businesses. The thing I love most about it is it’s automation and follow-up functionality. This tool will send follow-up emails to prospects and try converting them because you never know who might end up converting with just a little push. [Premium]
- Upwork: Upwork is more of a marketplace than a tool, but let’s face it. It will be difficult and widely expensive to acquire international clients in the absence of Marketplaces like Upwork. Your agency can acquire 20% of clients from Upwork that are responsible for driving 80% revenue in your agency. (Pareto Principle) It is hypothetically possible.
- Facebook Audience Insights: This is yet again a very important tool at the disposal for Facebook Marketers. Using this tool you will find your perfect audience that will drive sales. This seems to be the only resort in the absence of Facebook Pixel. [Freemium]
Using Digital Marketing you make immense savings, it is not possible to make the same kind of savings in Traditional Marketing. But there are consequences to saving costs in digital marketing. Saving costs should not come at the cost of mediocre output.