Questions

Hello, Although I am listed as an expert in digital marketing and advertising, pricing is an area that troubles me. I thought of asking a question to the experts. I have been running an online marketing and advertising company for almost 2 years now. Having made mistakes and learning from them, we are now able to deliver services I am proud of. I have had troubles scaling up and pricing our services properly. I can't talk to a regular business consultant because pricing for digital marketing companies can be tricky. Any ideas?? Thanks a lot!

Hello... I totally understand where you are coming from.. I started a digital marketing company several years ago and let me tell you it has been quite a ride :)...

Anyway answering your question is not easy, I would start by defining and refining who you want your clients to be, small businesses, professionals, large corporations, etc...

Now there are many pricing strategies out there and all are good to take into consideration like pricing in the range of your competitors, or in the low range or in the high range.

My personal opinion is to first determine how much you need to price your services so you are NOT losing money, every business is different, you can compare 2 digital marketing agencies and even if they are both starting what they pay to employees could be different, the tools they are using could be different, you get my point right.. so please be sure you don't lose any money.

Once you have that price, go from there to wherever you want, it is all about how your prospect perceives the value, if you are helping him acquire 2000 dlls customers, then you can charge 500, 600, 700, etc... If you are helping him create facebook ads (which could be the same thing you were doing in the previous example, but your value proposition was different) maybe you won't be able to price your service as high.

There are many other considerations, but with the information you gave so far I wouldn't worry about my competition. I will define the perfect client, create your value proposition and price accordingly.

Hope this helps.. .If you need further assistance let me know.

Don't forget to upvote my comment and share :)


Answered 8 years ago

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