As an agency offering email marketing software and services, there are many factors to decide on. The pricing and the plans you offer would be the first major attributes to work on. As an email marketing services provider, how much should you be charging?
The benefits of email marketing
There are social media platforms for ad campaigns. However, visibility depends entirely on the popularity of a post. Otherwise, by the time the targeted customer checks his feed, the ad you place might be hidden below several other posts. With email marketing, the mail is always there in the inbox.
The number of emails that a customer is likely to get per day is going to be lower than the number of posts that appear on his social media feed. Therefore, there is better visibility with email marketing, and therefore, there are many who are willing to spend on it.
How much are businesses willing to pay?
Given the cost-effectiveness of choosing to outsource email campaigns, many businesses are willing to spend on email marketing services. Some agencies offer prices as low as $125 for an hour. You can choose your pricing based on various attributes.
When businesses can get their team to send out marketing emails, the job can be done for a price lower than $10 for many small businesses. Despite the huge difference in price, businesses still choose to outsource their email marketing plans because of the significant improvement in returns.
When you can give them these noticeably better profits, they would be ready to spend on a justified price tag.
Why should you offer email marketing services?
Before you even get to the point of pricing pattern for services, there is one question to answer:
why should you offer email marketing services?
Many firms offer complete digital marketing packages where email marketing is also a part. Then why would firms pick separate plans for email? This is because emails are still used as the go-to medium for businesses to establish a trust, a long term rapport with their audience.
From sending introductory mails about the business to potential customers to keeping the existing customers informed of running promotions, there are many things that a business can do with emails.
So, with plenty of businesses eager to harness into the power of this strategy, you would be offering a high demand business when you start offering email marketing platforms or services.
How do you set the prices?
Content creation services
This is one major component that adds up to the cost of email marketing. Therefore, if you offer content delivery services, then clients would be more than happy to choose your agency. They might look for some relevant suggestions on content framing, depending on the market trends. Some stick with delivering a brief of what they want in the emails and some offer the whole template. Graphic designing is also part of the content creation in emails. Whatever be the client’s expectations, you can charge accordingly for the content delivered.
There is another aspect where the content created differs, and that is the type of email sent. There are general newsletters, welcome emails, follow up emails for cart abandonment, event or sale notifications, transaction detail emails, and others. Curated content that delivers the gist of intended purpose can influence the success of the email campaign.
Depending on the types of emails that your customer expects, you can also plan the frequency. This frequency, in turn, affects the pricing.
Based on the packages you offer
Some agencies offer hourly rates. This is particularly suitable for those who are good at email marketing but need a slight push here and there. Such business owners might benefit from choosing hourly rates with a low budget.
Standard packages are those where you can clearly define the scope of your services. You can then list them down to every little detail on your website. This will help clients identify the package that suits them the most. For email marketing agencies, standard packages help plan the cash flow and predict the earnings based on client acquisition rates.
End to end solutions
These are going to be the most expensive services your agency would offer. This comprises tasks from setting up the email account to monitoring the account and campaigns in future. Therefore you would be working with the team for the long term. Long term relationships like this can add an excellent reputation to your agency’s track record. With such long duration projects, you would be able to focus on improving the results and fine-tuning your campaigns. This can also be useful for you to understand the strengths and weaknesses of your agency.
Depending on your team size, the email marketing software, or the platforms that you use and offer, you can always come up with a price that clients would be comfortable to work with.