Fashion is evolving rapidly and will continue to evolve in the digital age. Businesses that use fast fashion or “directly to the consumer model” have been able to quickly innovate to meet the needs of consumers which causes brands to struggle to stay ahead of their target markets. “Directly to the consumer model” becomes the standard of the apparel industry. Some brands can quickly turn ideas into products, and if your business cannot do the same, you will find it difficult to stand out. Under these circumstances, fashion marketing agencies make use of key aspects of digital strategies such as paid social campaigns, influencer campaigns, high-quality product imagery, content creation, and SEO initiatives to help grow your business. They will adjust their strategy based on your overall growth goals. Their team starts by analyzing your competition, analyzing data, and comparing trends to develop strategies that move forward. With their team that constantly monitors and adjusts your strategy, they will be able to keep up with market trends and stay ahead of your customers.
One of the first things that entrepreneurs and marketers think about when considering whether or not to hire a fashion marketing agency is: “How much does it cost?”
It is important to ensure that the fashion marketing agency you choose fits your budget. But if you focus too much on the price, you might be disappointed with the results provided. The most expensive fashion marketing agencies are agencies who charge low rates but waste your time with substandard results. Invest the time to choose the right marketing agency that will produce better financial results for your company.
The truth is, you will meet some people who claim to know what they are doing, but actually don’t. There are many fashion marketing agencies out there that promise amazingly good results for low prices without the intention to actually deliver.
Be wary of fashion marketing agencies who charge you every month by giving you the impression that it will take a long time to see results, even though their strategy will never provide an ROI (Return on Investment).
Asking about prices isn’t just a good way to ensure that the fashion marketing agency fits your budget. This can also be a great way to filter out low-quality agencies that can’t answer your questions satisfactorily because they can’t produce results.
Let’s say you have a budget of around $ 20,000. If the project cost that you propose is $ 20,000 and your average order value is $ 176, then your break-even point is 114 sales.
You can also specify additional traffic that you should break even.
If you need 114 orders to break even, and your conversion rate is 0.68%, then you need 16,765 visits to your site or online store to break even.
Of course, this is only a breakeven level. To see a significant ROI (Return on Investment) from a campaign, you might want to see at least double that result as a client. So your ideal number of visits must be more than 32,000.
This is just one example of how to calculate the expected ROI for a fashion marketing campaign, so you know exactly what results are expected from your fashion marketing agency.