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As your small business grows, at some point you need to take your marketing strategy to the next level. While many executives of new and small businesses are used to assuming different roles, there will come a time when it makes sense to hand down marketing roles to the experts. This is vital to ensure that your company continues to develop new customers, build its brand, and stay competitive in its industry.
For many executives, the realization that they need to work with marketers leads to questions about whether to contact a marketing agency or hire an in-house marketing team. There is no right answer to this question as it depends on the company's resources and needs. However, there are a few points that executives should consider when deciding whether to hire a marketing agency or to build an in-house team. Here are some key factors to think about.
Type of expertise
What kind of expertise do you want? An in-house marketer provides an in-depth knowledge of your company. That person (or people) knows exactly what your team is doing and what your team is about. In addition, every moment is devoted to your company and you are fully invested in the success of your company.
In contrast, when you work with a marketing agency, you get access to a whole team of marketers with a range of expertise. While you may not get the same level of knowledge and investment in your business, you do get a team that is on the cutting edge of the industry with a wide variety of applicable skills. In addition, you get a new perspective and a new look at the activities of your company. After all, marketing agencies have the advantage of working with a wide variety of companies, which means they bring a wealth of industry knowledge to each client.
Related Topics: Find Out If Your Business Needs a B2B Marketing Agency
In-house marketers and marketing agencies bring unique areas of expertise to the table. In determining the best results for your business, it is important to consider the type of expertise your business wants and needs.
Budget is an important factor to consider as it is generally more expensive to hire your own marketer than to work with a marketing agency. When hiring a marketer, you need to take into account that you will not only have to pay their salary, but any additional costs associated with hiring quality people, including hiring costs, payroll taxes, pensions, benefits, and training.
Therefore, while you might think that an employee's salary is the same as that of a marketing agency, it's also important to consider any additional costs. In most cases the reality is that working with an agency is more cost effective than using in-house marketers.
The timeline is another key factor to consider. In some cases, small businesses are under pressure to develop a marketing strategy. This can happen when customer growth plateaus, competitors gain market share or new products don't come to market as expected.
In these situations, companies need to act immediately and should consider a marketing agency.
Marketing agencies can jump in right away and quickly develop a marketing strategy. It takes much longer to recruit, hire, and train your own marketer.
Related: No Time for Marketing? Hire a freelancer
Way of communicating
Another factor to consider is what type of communication you would like to have with your marketing team. When you have someone in the house, you work side by side, have regular communication, and can get ongoing, instant updates.
You will not have such access if you work with a marketing agency. In general, when working with an agency, there are many face-to-face meetings at the beginning when a strategy is being developed. After that, things shift mainly to email and phone communications and you no longer have the same kind of constant communication and access. For some executives this is fine, for others it is a major disadvantage of working with an agency. Either way, it's important to reconsider that difference and figure out what's best for you and your team.
Working with marketers to develop an effective marketing strategy is an important part of maintaining and growing your business. While marketing is something that most executives start out with, it is a tedious task that will eventually need to be delegated in order to maximize results and effectively manage your team's time.
Marketing is never done, it's a long way. With that in mind, it's important to reach out to marketers who are fully dedicated to growing businesses. It can be difficult to decide whether to work with an agency or to build your own team. However, when you weigh the right factors, your company can make the right choice and move forward with the right team.
Related Topics: Agency vs In-House vs Freelancer: A Startup's Guide to Advertising Opportunities