“How should I Charge A Client for My Digital Marketing Services?”
Well, that’s one of the most frequently asked questions I get. So, today let me share with you some of my most favorite ways to Charge a Client for my Digital Marketing Services.
Way #1 To Charge A Client For Your Digital Marketing Service: “The Retainer Model”
In the Retainer Model, you charge the client a basic monthly retainer fee for your services. You could sign an Year Long Contract.
Now this model has its own pros and cons. Let’s take a look at the pros of the Retainer Model.
Pros: ✔ You get an assured monthly pay.
Pros: ✔ It Brings Income Certainty
The Cons/ Drawbacks of the Retainer Model…
Cons: ❌ You do NOT have Long Term Leverage.
Cons: ❌ The Client can replace you anytime.
If you want to hear my thoughts about the Retainer Model in detail, then watch the video below.
Alright, let’s talk about the next way to Charge a Client for Your Digital Marketing Service.
Way #2 To Charge A Client For Your Digital Marketing Service: “The Only Commision Model”
Pros of “The Only Commision Model”: ✔ Easier to Close Clients.
Pros of “The Only Commision Model”: ✔ Great if you work in specific niches. Replicable
The Cons/ Drawbacks of “The Only Commision Model”…
Cons of “The Only Commision Model”: ❌ No Income Certainty.
Cons of “The Only Commision Model”: ❌ No Transparency if the clients don’t show the bank account. No proper paperwork
Cons of “The Only Commision Model”: You’re Replaceable
Cons of “The Only Commision Model”: It has No Long Term Leverage
Now, Way #3 To Charge A Client For Your Digital Marketing Service is “The R+C Model”.
Wanna know what “The R+C Model” is all about? Want to know its Pros & Cons? Well tune into the video below.
In the video, I also share a bonus way to Charge A Client For Your Digital Marketing Service which is “The R+% Model”.
Wondering? Which model to select? Want to know which model I use for my clients? I reveal all of that in this video.
CASH On DELIVERY (COD) to me is a double edged sword. You can’t IGNORE it, and yet when you use COD, it ends up putting a BIG hole in your pocket.
Although, the number of customers increase thanks to Cash on Delivery Payment Option… here are a few things I noticed.
1) The Refund Requests is relatively higher from COD Customers compared to customers who pay online.
2) COD customers need more management, thus more employees and Customer Support Time.
3) This was an observation which was later verified with data – COD customers generally tend to be more RUDE with the Customer Support and in general compared to Customers that pay online. Of course, it’s subjective to an extent. I’m a COD customer myself. But I hope you can see the point here.
4) As an extension to the 3rd point, the Attrition Rate in the Phone Support is higher (Which is mostly Virtual in my company). Thus adding to the Stress Levels.
5) And lastly, the negative reviews or the Threat of Negative Reviews (most times customers aren’t home to accept the order) is higher from COD customers.
Given all these factors, I recently decided to get rid of the COD option.
Here is what actually happened:
1) My sales dropped by over 60%.
2) My CPA went HIGH.
3) The refund rate dramatically decreased.
4) My net profit went up drastically.
5) My Stress levels were almost down to ZERO.
6) I needed less staff and the team was happier in general.
So to conclude: If you run an E-Commerce Store in India, doing away with COD is something you should test.
Here’s a detailed video I created sharing the results of this E-Commerce experiment.
Warning: My suggestion is my personal opinion and not a prescription. If you are losing money with COD, if you are stressed all the time… Then it’s a worth while option to test getting rid of COD.
You may lose out on a lot of sales. But you would be happier and will actually take home more MONEY because your net profit will be higher.
Note: If you plan to have investors on-board, then please don’t test this option out. A BIG Revenue (Top Line) is what you need to show your investors… So the volume of sales is important and COD plays a BIG role in getting more sales.
Why I’m not a Fan of Selling Courses on Udemy! Why You Should NOT Start Off By Selling Your Courses on Udemy!
Now, the Reason I Say NO to Udemy is because you want to start off by Projecting Your Brand Correctly.
You see, Udemy is like any Marketplace. Just like Amazon. Just like Flipkart. Where you can find different products – in this case different courses on different topics. You can pick and choose based on reviews.
The Reason I do not ever suggest anybody to start out by selling on marketplace is because you Lose that Brand Value / Brand Perception.
Why I say ‘Do NOT Start off by Selling on Udemy’ is because You’ll Fall in that Category where You’ll be Compared with Every other Tom, Dick & Harry who’s Selling on Udemy.
The Perception of Your Brand, and Your Courses will fall down. And it may likely never recover.
Either You Could be the “Apple” or OYO…
Do You Think OYO Customers will be Happy to Pay Rs. 25,000/- for a night?
If You are Launching a Brand and If You Plan to Charge a Premium, and Have High End Products, DO NOT Start on Udemy. Why?
Well, I give a very detailed and descriptive reasoning about it in this video.
In the video, I also talk about:
✔ The Power of Branding
✔ The Magic of Marketing
✔ How NOT to Lose Your Brand Value / Brand Perception…
CHEAP, CHEAP, CHEAP, CHEAP, CHEAP….
If you look around, you would see, that’s what the Digital Marketing industry is moving towards.
✘ You now see ads where Digital Marketing Courses are sold for JUST Rs. 99.
✘ You now have Digital Marketing Service Providers who offer to work as Digital Marketers for Just Rs. 999/Month.
And the SAD part is… A very LARGE Percentage of Marketers are now moving in this Fight to being the CHEAPEST.
Most Marketers today Just use the age old tool – which is now slowly becoming an ineffective tool of Creating FAKE URGENCY and Offering HYPED Up DISCOUNTS.
I see very few marketers today know/understand the TRUE form of Marketing – Story Telling and Character Building.
And that’s why, most resort to just slashing the PRICE and selling their Courses/Services for Peanuts.
History PROVES that the battle to being the CHEAPEST Provider is a tough one to WIN in the long-run and most businesses are Burnt in this battle before they see the light of the day.
If you are a Marketer – I URGE You to STOP playing the Game of Being the CHEAPEST. Please realize the Potential of what you do and charge the amount YOU Deserve.
The marketplace always pays for the VALUE, the Value YOU demonstrate.
Don’t undervalue YOUR Products/Services.
And don’t participate in the Game of Cheapness, Oh, I mean being the Cheapest Provider.
You know, funnily, I think there will be a day when someone will come up with an Ad saying – I will pay you 99 bucks to join my course 😉
If YOU are a REAL Marketer – Stay TRUE to your Worth.
If you want to watch a video about this, here you go:
Today’s post can be a little controversial, and can be Misconstrued if you don’t read it objectively.
I’m not here judging Deepika Padukone or taking a moral High-Ground.
In fact, it’s the complete opposite. I’m here praising her and her PR and Marketing team for the Bold and Risky Marketing Move to Promote her new movie.
Now, I know some people reading this may feel I’m being Insensitive.
So before you read ahead, let me re-iterate.
My analysis here is purely objective. It’s just from a marketing Stand-Point.
Neither you nor I know what Deepika’s real intent was. And honestly, I don’t care about her Intent.
I have a political view on the whole incident, but in this post, I only plan to talk about the Marketing Side of things keeping the politics aside.
So are we cool looking at it objectively from a marketing perspective?
I’m assuming you said, YES!
Let’s continue the analysis.
You see, in Marketing, Timing is everything.
And Deepika Padukone is now officially my favorite marketer with her latest move.
Her JNU Visit AKA Solidarity support couldn’t have come at a better time – Her Movie Release.
Here is what it did for her:
✔️ Made her the center of conversation of every media debate including my post.
✔️ Enhanced her persona and image as a BOLD, Courageous, and STRONG woman – really aligned with her character and the real life person she is playing on screen.
✔️ All in all, it’s a move that’s going to bump up the sales of her movie tickets. A lot of it now driven by this new Persona plus the induced Admiration and Super-Heroine indoctrination.
Yes, some would say, it was just a Marketing Gimmick…
A Publicity Stunt…
Maybe. Maybe not.
For the purpose of this article, I don’t care about the Politics of it.
Looking at it purely as a Marketer… I ADMIRE Deepika’s Courage.
It takes B**ls to do what she did with everything she has on stake and to lose.
Personally – I have to give Deepika full marks here for taking a Huge RISK and standing up against the Government. She surely made a lot of enemies with her move while winning some people over too.
So Kudos to her.
I have a detailed video on this. Watch below.
CEO – The Marketing Nerdz
Ph – 8422906036
P.S. The recent political events teach us about an Important Marketing Lesson. Especially, about how the BJP is losing the plot and will keep moving down if they continue with their existing marketing plan. More on that in the next post.
P.P.S. Applications are now open for the 3 Months Digital Marketing Certification Course at:
✔️ Hotel JW Marriott, Mumbai or
✔️ Hotel Courtyard by Marriott, Ahmedabad (Starting Soon – Filling Out Fast)
For details, please call – 8422906036.