Should You Be Hiring An Agency?
The list can go on in regard to all the positives a company will encompass when they hire a marketing agency for their business! One of the main positive traits in hiring a marketing agency for your business would be the expert knowledge your company will gain.
When hiring a marketing agency you have not only hired one experienced employee for your business but an entire team. This team is usually formed with a wide range of individuals with many different fields of knowledge in the marketing field, which can range from; social media marketing, videography, photography, finances, analytics and etc.
Having such a large team at your dispense allows a business to have the means to create, market and schedule out a higher volume of marketing material which in turn will expose your business on a larger scale effectively.
Another trait in which you will gain from hiring a marketing agency is the accessibility to the resources they create. Due to most agencies converting to electronic marketing tactics this allows you to access the creatives they are working on throughout their journey and also have constant communication with them anywhere in the world.
The first thing that comes to mind when hiring an agency is the conclusion that it will cost your business a large amount of money that you cannot afford to hire and fund to profit your business. However, many people do not put into perspective the amount of money you will also undertake when you hire an in-house employee for marketing.
When you hire an in-house employee you have to start by hiring a recruiter to ensure you find the perfect marketing fit for your company. By searching for this in-house employee it requires a lot of resources and money to be taken away from your business.
Once you finally find the perfect marketing candidate for your business you then have to allocate time to train this individual on the business and marketing objectives you wish for them to carry out for your company. This again can cost your business quite a bit of money.
Finally, once the employee is settled into their position and seems to be fully handling your marketing you have the chance that your employee will ask for raises, bonuses and employee perks (benefits, medical coverage etc.)
If your business wants to invest in one sole person to take over your marketing operations and has the financial means to do so then an agency will not work for you but if you want to save money and not have the responsibility of an employee an agency is a perfect option for you!
On average the cost to hire a marketing associate is $65,000-$85,000 per year with three to five years experience and a marketing agency on average is a considerably lower cost then a marketing associates yearly salary. Depending on the budget your company has this can be a definite factor to making your decision in hiring an agency or in-house employee. In the long run if your business is looking to save money then an agency is the best option for you!
Should You Be Hiring An In-House Employee?
One of the main reasons a company tends to hire an in-house employee is due to the fact that they are so close to other operations of the business and can collaborate with them. This allows an in-house employee to understand the business 100% and fully know what their business is wanting to achieve.
Even though this can be a great quality it can also cause a marketing associate to be removed from the marketing world. This, in turn, will leave a marketing associate a little more dated in marketing tactics than an agency.
Depending on the business you run you can either give your marketing associate time to update themselves in the marketing field each shift so they can use this knowledge towards your business or opt for traditional methods that are already used.
A major factor your business needs to consider to determine the choice you make in either hiring an agency or an in-house employee would be the long-term value each one is able to provide to your company. Having an in-house employee makes it quite difficult to sustain long-term values due to the fact that employees tend to jump between many jobs in their lifetime hoping they can make more money or gain new experience in their field.
This leaves your company having to hire multiple in-house employees over a period of time which might result in different methods in executing your marketing and higher costs in hiring multiple associates. While an agency is a company that wants to stay in business for a long period of time. By hiring an agency you will be able to track your marketing from the moment you signed on with that agency and have one solid contact to keep on referring to.
The decision most companies have to settle on in the early model of their business is who they should have complete their marketing for their company. Most have the perception that an in-house employee is more effective and can save them money. This tends to make companies lean towards hiring an in-house employee in the beginning stages of their business, however many transition into hiring an agency to handle their marketing externally later on in their business.
Whichever means you choose in order to execute your marketing make sure you weigh the pros and cons listed above before making a decision. Determine the expense you will acquire and the knowledge you will gain from hiring both an in-house employee or agency.