Digital Marketing Services Procurement Intelligence
In this digital marketing services intelligence report, we have estimated the price of the key cost components. The key cost components in this category include staffing (30%), tools (20%), media buying, content creation, campaign management, and testing/optimization efforts. Staffing is the largest cost component, encompassing salaries and benefits for team members responsible for planning, executing, and managing campaigns. Tools and software costs vary depending on the business's requirements and licensing terms. Media buying costs depend on advertising space and time on digital channels, while content creation costs depend on the quality of content and the types of channels preferred for engagement. Campaign management costs involve planning, execution, and optimization, while testing and optimization efforts ensure improved performance and effectiveness.
Diverse factors that affect the price of developing digital marketing and advertising services should be considered while designing the project. Costs are heavily influenced by the project's scale, complexity, target audience, desired results, and time. Additionally, a significant factor in influencing costs is the team's level of experience. The sort of digital marketing service needed, with SEO typically costing less than PPC advertising, is another factor. The team's location is important because expenses might differ depending on a country's geography. For instance, the United States is three to five times more expensive than India. A decline in the value of the US dollar in relation to the Indian rupee would result in lower costs for digital marketing services in India. Currency exchange rates can also have an impact on costs.
Order your copy of the Digital Marketing Services category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Operational Capabilities - Digital Marketing Services
- Industries Served - 25%
- Years in Service - 15%
- Revenue Generated - 15%
- Employee Strength - 15%
- Geographic Service Provision - 10%
- Certification - 10%
- Key Clients - 10%
Functional Capabilities - Digital Marketing Services
- Search engine optimization - 30%
- Pay-per-click (PPC) - 25%
- Social media marketing - 20%
- Content marketing - 15%
- Others - 10%
Rate Benchmarking
Businesses must use rate benchmarking to make sure they are paying a reasonable price for their digital marketing services. The digital marketing industry is highly competitive. The prices might differ greatly based on a variety of criteria, including the specific services required, the experience and skill of the digital marketing agency, and the location of the organization. For example, Google and WebFX are two of the leading digital marketing agencies in the world, and their rates vary depending on the specific services required. For example, Google's SEO services start at USD 5,000 per month, while WebFX's SEO services start at USD 3,000 per month. Google's social media marketing services start at USD 10,000 per month, while WebFX's social media marketing services start at USD 5,000 per month.
Businesses can learn important information about current market trends, competing price tactics, and opportunities for cost optimization by benchmarking rates. Businesses may use this information to make better-educated decisions about their digital marketing expenditures and to make sure they get the best potential return on their investment.
Supplier Newsletter
- In January 2023, Mountaingate Capital, a Denver-based private equity firm, made an investment in WTWH Media, a business-to-business digital media and marketing company. The investment aimed to increase WTWH Media’s growth and expansion. WTWH planned to use the funding to hire new talent, launch new products and services, and expand into new markets.
- In September 2022, Shamrock Capital, a Los Angeles-based investment firm, invested in Highwire PR, a communications partner for technology and healthcare companies. The investment accelerated growth and expanded Highwire’s integrated communications and digital marketing services, helped to hire new talent, and enter new markets.
- In January 2021, MuteSix, one of the leading direct-to-consumer digital marketing companies, was acquired by Dentsu Aegis Network and joined iProspect, a division of Dentsu Aegis Network to expand their digital marketing business.
List of Key Suppliers
- Accenture Interactive
- PwC Digital Services
- IBM iX
- Dentsu International
- iProspect
- WebFX
- Facebook Inc
- Google Inc
- IAC/InterActiveCorp
- Noble Studios
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Digital Marketing Services Procurement Intelligence Report Scope
- Digital Marketing Services Category Growth Rate : CAGR of 13% from 2023 to 2030
- Pricing Growth Outlook : 4% - 5%
- Pricing Models : Subscription-based, value-based, and flat rate pricing model
- Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
- Supplier Selection Criteria : SEO and PPC Services, social media marketing, content marketing, customizations, analytics and reporting, operational capabilities, quality measures, technology, certifications, regulatory compliance, and others
- Report Coverage : Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
