As your business grows, you'll eventually need to think about how the marketing will be handled. It can be a tough and often confusing decision-hire an agency or an in-house team? Based on experience, especially if you're a small business owner, you should consider hiring an agency. Here's why...
YOU DON'T NEED TO ON-BOARD, TRAIN, AND MANAGE AN AGENCY.
One of the most time consuming aspects of hiring a new employee is the process of bringing them into your company and having them understand their role. Some businesses spend months on the training process alone. Even after all that is done, you'll still need to spend time managing the employee and making sure they stay on task. With an agency, it's a whole other relationship. There is no on-boarding, training, or managing to deal with on your end (they won't even take up any office space) because that is handled internally by the agency's management team. This frees you up to do what you do best-run your business.
YOU'LL SAVE A LOT OF MONEY.
One of the first questions business owners ask when trying to determine whether to hire an agency or an in-house team is, "What's the price difference?" You might be surprised to hear that an agency, overtime, will be much less expensive. Here's how:
You won't need to pay payroll taxes since they are an independent contractor.
You won't need to pay benefits/healthcare costs.
You won't have to pay for any of the expensive tools that are needed to properly run and track a marketing campaign.
If you're thinking that those are just minor expenses, you will also want to take into account that to get the experience and expertise of an agency you would need to hire premium employees. Here's the average salaries for key marketing roles...
Marketing Manager-$120,000 per year
Social Media Manager-$50,000 per year
SEO Manager-$60,000 per year
On the flip side, a marketing company may only charge your small business anywhere from $4,000 to $10,000 per month (estimated) depending on your needs.
YOU'LL HAVE ACCESS TO A TEAM OF EXPERTS.
Right now, the job market is doing very well. That's great news for those looking for a job but not-so-great news for those who are hiring. Why? Competition is fierce and companies are willing to pay big bucks to retain top talent. If you're looking to hire an expert to manage your marketing campaigns, you'll need the budget to back it up. However, if you decide to hire an agency, you won't just have access to one expert, you'll have access to a team of experts. The number one benefit to hiring a marketing agency is that they have worked on similar campaigns in the past. This means they know what works and what doesn't especially if they work with clients in the same industry as yours.