Why Hiring a Marketing Agency is the Right Move for Your Business
Let’s face it, there is so much information circulating out there concerning small business marketing. You’re sure to find “Expert” opinions on what you should or should not do as a small business owner; reasons why you shouldn’t hire a marketing agency, reasons why you should. It seems that everyone is an “expert” when it comes to your business. The problem with all this information is that it may not be right for your business. When it comes to creating a better marketing strategy for your business, you have to do what is right, and what works for you. Your business is different than any similar company. You have your own budget, specialization, employees, and reputation. You have a differentiator, something that sets you apart from the competition. You need a tailored solution, because your business is unique.
I have talked with some small business owners, and all of them come to two roadblocks when considering developing a better marketing strategy for their businesses. ..The roadblocks; Time and Money. They would like to improve their marketing but, “It’s too expensive.” They would like to improve their social media marketing but, “replying to customer questions takes up too much of my time.” The most frequent response I hear is “I run a business and I have a lot more things to be worrying about than marketing.” Getting to know these business owners better, I have realized that their misconceptions about marketing have been developed from the past failures of “generic” or one-size-fits-all marketing strategies. The bad taste in their mouths from this experience has turned them off to refining their marketing efforts, a fatal mistake for any company with future growth in mind.
This leaves them with three options:
· Hire a marketing specialist part or full-time employee
· Do all aspects of marketing themselves
· Hire a marketing agency that specializes in customized marketing strategies
First, you could hire a specialist. The costs associated with hiring another employee can make small business owners cringe, especially if you are not sure how to measure the ROI of the activities conducted by the marketing specialist. On average, an employer can expect to pay 1.25-1.4 times the base salary per year of new employee with benefits and vacation time (Boston Business Journal). The salary of a marketing specialist ranges based on experience from $58,000-$75,000, with the national average around $68,000 (glassdoor.com). This means that a full-time marketing specialist will cost between $85,000- $95,000 a year, plus a few thousand more for office space and taxes. $42,000-$52,000 a year for a part-time employee, who won’t likely be able to do all of the marketing activities they should be conducting.
Next, you could do everything yourself! I am a firm believer in that a person can learn to complete any task if they put the time into developing the skills needed to complete that task. However, the time required to conduct all aspects of marketing while concurrently running your business will take you years. Take these few elements of a modern marketing strategy below:
· Graphic Design
· Social Media
· Email Marketing
· Data Collection
· Customer Segmentation
· Focus Groups
· Sponsored Events
· Content Development/Blogging
If you are unfamiliar with the correct programs or applications to use to conduct these activities, there will in fact be a steep learning curve. Think about the time it will take you to learn these skills, implement them, and measure their effectiveness. Chances are, as a small business owner, you already work on the weekends. Do you have the time to conduct these and realize the full potential of your business? Have you considered the cost to your business in terms of missed opportunity by not conducting these activities?
Finally, you could hire a marketing agency that specializes in customized marketing strategies. Sound expensive? It’s really not. Depending on what your need is as a business, prices can vary from $2,000/month for CRM to $20,000 total for a complete marketing strategy outline and implementation (2—3 months). It is a common misconception that marketing agencies are ineffective and expensive. You may have had a bad experience in the past, but marketing agencies a full of professionals that are very passionate about marketing. You need to find the right one for you.
Take Martin Marketing Services for example, they offer free consultations so that they can understand and learn your unique business and discuss your goals. They take the time needed to analyze the complexity of your issues and will give insight into ways to improve your marketing, tailored to your situation. Realize that a dedicated team of professionals that have the skill and passion to help improve your business is more attainable than you thought. Here they are www.martinmarketingservices.com