Digital marketing agencies exist to help companies market their services or products online. The best digital marketing agencies work with the company they serve and can create software, apps, websites, e-marketing strategies, and other digital services that will bring in more customers. Working with a digital marketing agency can be beneficial for many different businesses. If your company needs visual branding, usability testing of website layouts or even Google Ads expertise you should hire a digital marketing agency instead of trying to accomplish those tasks yourself. However, if your company struggles to find ways to generate revenue from its digital presence then working with a digital marketing agency might not be right for your business.
Read on to learn more about how these agencies make money:
What digital marketing agencies do
A digital marketing agency typically offers many different services for companies, including branding, software development, website creation, optimization, email marketing, and more. Some digital marketing agencies also offer consulting services, product development, and consulting services. Brands hire digital agencies to create content, improve their digital presence, and use digital channels such as website design, content management systems, social media marketing, and email marketing.
Types of digital marketing agencies
- Branding - This includes logo design, brand identity, marketing materials, digital assets, and more.
- Business Development - This includes helping clients create a marketing strategy, setting up appointments with key stakeholders, and identifying new customers.
- Content Marketing - This includes creating guides, white papers, blog posts, etc. that target your audience and drive sales for your company.
- Conversion Rate Optimization - This includes using technology to improve your website’s performance and convert more visitors into customers.
- Creative and Design Services - This includes logo design, visual branding, website and app design, and more.
- Customer Support Services - This includes responding to support requests, providing training and knowledge bases, and handling billing issues.
How digital marketing agencies make money
Digital marketing agencies can make money in a variety of ways. First, you’ll need to understand the business model of the agency you’re hiring. Some agencies only work with one company and earn a percentage of revenue from that company only. Others work with many different clients, providing a mix of revenue sharing and fixed fee contracts.
Paid advertising and SEO services
Many digital marketing agencies provide paid advertising services, helping companies create and buy ads on Google, Bing, or other search engines. Paid advertising means your ads will show up on the search results page and be served to a specific set of people. You can buy keywords that will reach the top or bottom of the page, or you can target specific people based on their demographics. Depending on the specific ad type, paid ads are charged per click, which means a click on your ad translates into a charge to Google or wherever the ad appears.
Content and e-learning services
Digital marketing agencies often provide content and E-learning services for companies. This could mean creating guides, ebooks, whitepapers, or other high quality content that your customers are likely to read and refer others to. E-learning services, on the other hand, can include courses that teach your employees how to do their jobs.
Product Development and Consulting Services
Some digital agencies will offer consulting services as well, helping you create a marketing strategy and identify key stakeholders. A marketing strategy guides your entire marketing approach from which channels to use, what content to create, and more. Consulting services usually cost more but could be a very valuable service for a company that struggles with marketing strategy development.
Branding and Design Services
Finally, it’s important to note that many digital marketing agencies offer branding, logo design, and even design services. This is especially important for digital companies that have a physical location. Having a consistent brand and visual identity across all media is very important.
Digital marketing agencies exist to help businesses with their online presence. Some work with companies to build their brand and improve their online presence, while others work with companies to drive revenue with paid ads. Depending on your specific needs, you may need to hire an agency that specializes in one area, such as e-commerce design or SEO expertise. Alternatively, you may need to hire an agency that can help you with all aspects of online marketing. Digging into how these agencies make money can be a great way to find the best fit between your business and an agency. You may also want to consider hiring a digital marketing agency for specific services, or as a full-time employee that may wear multiple hats for your company.