Are you wondering if you should do your own marketing or hire and agency to help? Let's explore the different options to help you decide.
Marketing strategies today encompass numerous specialties such as web design, graphic design, content production, packaging, social media, SEO & advertising to name a few; all of which collectively becomes too much for one person to handle. Even if you have the creative mind of Don Draper, the work required to manage successful marketing campaigns can be daunting. There are many ways to build a brand today. Whether you need to focus locally for a brick and mortar business or gain a following online for a lifestyle blog, you need a strategy designed for your brand.
First, ask yourself "What are my marketing goals and how do you reach them? If that feels like a loaded question that brings a slight feeling of anxiety, don’t fret because you’re not alone. Setting and meeting marketing goals is at the foundation of making sales and getting this process dialed in can make all the difference for revenue goals.
As a business owner in today's competitive market, one of the most important decisions you will make is whether to build an in-house marketing team or to hire outside resources. Marketing is one of the largest investments for companies today, but with ROI generating campaigns you can ensure you are getting the most bang for your buck. Whether you’re a startup or existing business, you have three primary options for establishing marketing for your brand.
In House Marketing Team
Independent Marketing Contractors
Full Service Marketing Agency
In House Marketing Team
Many companies prefer to have an in-house team coordinating all of their marketing efforts, but not all companies can afford to have these team members on staff all year round. Let's explore some of the pros and cons of building an internal team of marketing professionals.
Employees of a company are more in tune with the culture and typically become committed to the brand on a personal level. Team members are also connected to internal communications and have more insider knowledge about the company itself, allowing for marketing tactics more closely aligned with the personality of your organization.
The primary drawback of in-house marketing teams is the cost. Considering the different roles involved, by the time you acquire all the right talent, you could be paying upwards of $300,000 per year on employee salaries, not including benefits, payroll taxes or other employee perks. It takes time to curate the perfect marketing team; recruiting; interviewing, hiring, onboarding, training; and talent retention.
Independent Marketing Contractors
The middle ground between an in-house team and a full-service agency is to hire independent contractors. Similar to an in-house team, talent will have to be vetted to ensure skills, professionalism, delivery expectations & capacity. While the skills of different contractors can be leveraged to deliver the different strategies, the campaign and the talent needs to be managed by a member of the company unless that management role is also outsourced.
Hiring independent contractors is most likely going to be much cheaper than an entire in-house team. While vetting resources is comparable to the recruiting process in regards to finding and onboarding talent, it does typically take less time and requires less long term commitment. You can contract resources to complete designated objectives and outsource as needed rather than paying staff year round.
When vetting resources you will find that the top marketing talent can be more expensive that a salaried employee. The trade off is that the contractor can work on projects as needed and not be a year round cost. That being said, some marketing efforts should be focused on consistently and may need year round efforts. Responsibilities to other clients can hinder the timeline on your marketing tasks. Given the experience range of services they offer, they often charge steep prices. Hiring a contractor may also require a certain level of ongoing involvement from you, which could be ideal for some business owners but not always for those looking to outsource.
Full-Service Marketing Agency
Hiring a full-service marketing agency affords you the luxury of not having the worry about marketing at all. Agencies help you formulate strategies and then perform all the work to execute, freeing you up to focus on other important aspects of your business. Once you find the agency that is right for you, it's like having your own dream team at a fraction of the cost. Agencies have all the experience and skillsets you’ll need for a modern, efficient and effective marketing strategy. A full-service agency can help to change the customer experience by offering inspiration and a fresh perspective, as well as consistency and long-term results. As a bonus, most agencies have access to all the latest technologies and tools, so you don’t have to pay for those services yourself.
Although an agency can take the marketing work off your hands and free up time and money, they also don’t work solely for you. They may not always be available at a moment’s notice, so you have to remain flexible. After initial strategy planning, the team will likely formulate the campaigns and marketing efforts, meaning a little less control for your employees, and sometimes being difficult for some to let go of.
What to consider when selecting a marketing agency:
How long they have been around - there are a lot of 'fly by night' agencies.
Review case studies - having case studies will showcase their skills and outcomes
Have conversations - you should court an agency like you would an internal team member
Understand their process - how easy is it get their team and your team working in harmony
How Can We Help?
No matter your company's age or size, either of these options would work for you. It is simply about your preference and what makes sense for you financially. If you want to be more hands on in the marketing realm, an in-house team or even an independent contractor may be the right path. If you want someone else to handle it entirely, digital agencies like Peacock Studios are the way to go. If you are still trying to decide, schedule a chat with our team and we will answer any questions you may have.