A cost-of-doing-business analysis has identified the digital market as the most challenging for marketers to effectively manage.
A study conducted by a digital marketing consulting firm for a new study published by The Washington Post, found that the cost of running a digital campaign can run as high as $3.2 million, and that many organizations have found that it is a significant barrier to profitability.
The study, conducted by AdWords Marketing for Digital, was conducted by an industry-led research team of 10 marketers that analyzed their digital marketing expenses in 2018, including how much the cost was per day of service and costs associated with digital marketing.
The report also analyzed the average costs of the services offered, including data on the number of people hired and the amount of revenue that was generated per customer.
The average costs for digital marketing in 2018 ranged from $6.3 million for digital advertising to $9.7 million for social media marketing.
Digital marketing is not just for the Internet-savvy consumers who are looking to improve their customer experience, the study found.
It’s also a significant cost for companies that rely on advertising.
The average digital marketing campaign costs $2.4 million per day, while a single campaign of Facebook advertising costs $1.9 million per week.
The cost of digital marketing is driven by two factors: the time and the money.
The average time for a digital ad is roughly six weeks, and marketers spend about $60 per day on advertising, according to the report.
The amount of money that marketers are required to spend on advertising varies based on the type of marketing, the size of the campaign, and the level of engagement of the audience.
“In 2018, it took a minimum of six weeks for digital marketers to create and deliver a digital message, according the study.
This amount of time, combined with the significant cost of the ad, was significantly higher than in 2016,” the study said.
“For example, in 2016, digital marketers spent $1,000 on advertising in a month, but this increased to $2,000 in 2018.”
AdWords Marketing has analyzed its competitors and found that a majority of the businesses surveyed said they had lost $3,000 to $4,000 per day because of digital advertising.