During a recession or economic crisis one of the first places that companies cut costs is in the marketing department. Which, according to the Harvard Business Review, is a big mistake. Why? Because your full service marketing agency drives sales, supports your brand, and helps you understand consumer behavior in a fraught time.
1. What is a full service marketing agency?
This is an agency that takes a 360-degree approach to providing your company with strategy and techniques that target and convert leads into customers.
2. Is it smart to engage a full service marketing agency during the economic recession caused by COVID-19?
If you haven’t already engaged a marketing team, it would be wise to do so. Online digital marketing will help you retain and keep your customers engaged during the crisis, and they will help you target new customers within a touchy financial ecosphere who will be interested in your product.
3. What are the most common services that full service marketing companies provide?
Most agencies provide SEM (PPC/SEO,) content marketing, social media marketing, lead generation, user acquisition, email marketing, and web design/development. Some agencies, like ComboApp, provide more services than these basics.
4. What is the average cost of a test campaign?
Test campaign cost depends on multiple factors, no two campaigns are completely the same so calculating and relying on an “average cost” can be misleading. At ComboApp, we generally run test campaigns that last 90-180 days and cost anywhere between $45,000 – $180,000 (Depending on which TAs and markets you’d like to target and what services you choose to engage with).
5. How much of my yearly budget should go to marketing services?
If you want to maintain your current level of sales, you should spend 5% of your yearly revenue on marketing services. If you want to grow your business, you should invest at least 10% of your yearly revenue in 360 full service marketing. [via Frog Dog]
6. How quickly can I expect ROI from my marketing campaign?
It really depends on the campaign type you are running. SEO and organic/word-of-mouth marketing takes at least 6 months to see results from, while PPC and social media advertising see results within 48 hours of the start of the campaign. To learn more about ROI timelines for marketing campaigns, reach out and let’s chat.
7. Is working with a full service digital marketing agency cost effective?
If your agency is worth their salt, it will be extremely cost effective to work with them. Be cautious of agencies who over promise, as they will under deliver. At ComboApp we are always realistic about the potential success and problematic roadblocks in your marketing strategy. To talk about your marketing needs, request a product audit or a proposal for your business give us a call at (+1) 773.305.0886 or send an email to email@example.com