While small businesses work to adjust to the new norms dictated by C-19 to survive, one strategy that’s important is to keep marketing but also learn how to save money on marketing in the pandemic.
The Number 1 Strategy for How To Save Money On Marketing In The Pandemic
The number 1 strategy for how to save money on marketing in the pandemic is not offered by many agencies, but it IS offered by DeWinter Marketing & PR.
That strategy is to eliminate agency markups on marketing services & products you buy such as web design & development services, graphic design services, printing service, and more. DeWinter Marketing & PR does not mark up expenses, and that saves considerably on marketing costs.
What Is An Agency Mark-up?
An agency mark-up occurs when you incur services or product expenses with your marketing agency. The marketing agency bills all those services & products through the agency, even for contract workers or third-party creative professionals, adds an agency mark-up of anywhere from 17% to 35%, and then bills your company or non-profit.
Here’s an example of how agency mark-ups work:
You run a restaurant and decide to deploy a door hanger offering a meal delivery subscription service within a targeted delivery area near your restaurant. First, the content needs to be developed. Then, the door hanger needs to be designed by a graphic designer. The door hanger needs to be printed. Finally, it needs to be distributed in the targeted neighborhood of your choice.
The four services for the door hanger would involve:
- Graphic Design
Most marketing agencies will provide and coordinate all of those services, and each service would be billed to you with a mark-up. This will increase the cost of the project by anywhere from 17% to 35%.
Whether you’re operating in good times or hard times, a mark-up on marketing services and expenses is a complete waste of money. If you eliminate the traditional marketing agency mark-ups, you can either save money on your marketing program that can be applied to helping you survive, or you can allocate more money for marketing to generate leads and drive business.
How To Save Money On Marketing In A Pandemic: Ditch Agency Mark-ups
The practice of marking up marketing expenses is a traditional, standard practice in the marketing industry. However, it is an antiquated practice that does not serve businesses & non-profits, especially in these cash-strapped times during the pandemic.
Here are some ways to avoid paying agency mark-ups:
Option 1: Hire a marketing agency that does not charge mark-ups. (Hint: That would be DeWinter Marketing & PR.)
Option 2: Negotiate with your current agency and ask to pay third-party vendors directly. (They may say “no” but it’s worth a try.)
Option 3: Find your own vendors for copywriting, graphic design, printing, etc. and do your own procurement.
Ditching agency mark-ups on marketing expenses provides a potent strategy for how to save money on marketing in the pandemic.
For more information on agency mark-ups, please access more detailed information on our website.
If you need help with developing strategies to generate leads & revenue, spiffing up or a building a new website, creating marketing campaigns to sell products or services, and more, contact DeWinter Marketing & PR. We’re your number 1 source for affordable, effective marketing in the pandemic.