Once you have decided to get help from a digital marketing specialist or consultant, you need to ensure that your budget covers their costs. Here’s what you need to know about budgeting for digital marketing services delivered by a consultant:
Some basics about digital marketing consultants
The first and most important thing to understand about hiring a digital marketing consultant is this: You get what you pay for. Experience, prior successful projects, knowledge and qualifications set consultants apart and If you hire the right consultant, they will bring value to the table that will balance their costs.
The role of a marketing consultant, their responsibilities and the complexity of your project will be three additional factors that will influence the rates of the digital marketing consultant you work with. There are three ways in which consultants usually charge their rates:
- Per hour (after briefing, the consultant will create an estimate of the time they anticipate to spend on your project that is multiplied by their hourly rate)
- Monthly retainer (a fixed fee that the consultant will charge each month for a determined number of hours to be spent on your project. Some consultants will make provision for a small percentage of hours over or under the agreed hours)
- Flat rate or project fee (a fee that is charged for any specific deliverable or project)
Our advice is to always pay for the best consultant you can possibly afford. In this way you have the best chance of getting a good return on the investment you made from the value the consultant provides to your business.
Here’s how to budget for digital marketing services from a consultant
When you have decided to hire a digital marketing consultant, you can start by scheduling a discovery meeting with the consultant and talk through your issues, expectations and the projects you want to get their help on. These next steps will help you to prepare for a discovery meeting:
Understand the services that you will require
Doing a bit of homework to understand digital marketing strategy and services will help you to determine what you actually need from a digital marketing consultant and choose the best consultant at the best price.It makes sense to come prepared for any budget planning endeavour, so take some time to understand what digital marketing is, the typical services and how much digital marketing in Toronto could cost.
Calculate how much you can afford to spend over the next few months
Even before you speak to any digital marketing specialist, you will need to take a look at your marketing budget and decide on a realistic amount that you may be able to afford for the next month, next three months and next six months. Remember that there might be some room to negotiate, but you won’t necessarily get everything you want if your budget is minimal. It is crucial to keep in mind that digital marketing budgets may include the service fees charged by the consultant ,one time campaign setup fees, monthly campaign management fees etc.
Ask for referrals
Reach out to business contacts, friends, and family to find out if anyone you know can refer a digital marketing consultant. The ideal situation would be to have a few different options, you can contact for quotes, but getting referrals can help you speed up the process by weeding out anyone who has delivered substandard service.
Get a few quotes
Now that you have a list of possible consultants to contact, ask them for quotes. Be as specific as possible about the services you need and the goals you would like to achieve. This will assist the consultant to give you a more accurate indication of the costs involved in the process. You should ask each consultant about the approximate digital marketing budget for the services that they anticipate for the project, including paid digital advertising budget , management fees and for the content.
Don’t immediately choose the cheapest option
You get what you pay for in life, and digital marketing is no different. You need to be prepared to pay for their knowledge and expertise if you need the services of an experienced digital marketing consultant. Take your time to weigh up your different quotes and decide what you can afford and give you the best return on your investment. The cheapest option may end up costing you more in the long run if you need to have everything redone later on.
Need help with digital consulting? We Can Help!
No matter the size of your business or project, we have solutions to match your budget and needs. Contact us for more information on our digital marketing services.