Internal Marketing Manager 'or' External Marketing Agency?
To outsource your marketing or not. The decision never used to be that complicated. But now, it's a tricky question. Before the age of the internet, your advertising and marketing options were limited to a small selection of platforms. You could either place a product photo in the newspaper labelled 'BUY NOW', use the traditional word of mouth method, or if you had the money, create a TV or radio ad.
Nowadays, online has opened up the world of marketing with your options almost limitless. Yet this abundance of platforms at your fingertips can also be a downfall. It can be challenging to juggle a multidimensional marketing strategy and run a business, all at the same time. Entrepreneurs saw this gap in the market, developing external agencies to help with this increase in marketing demand.
Although, are they the best option? Is it better to outsource your marketing to someone else, or should you keep it internal? Let's find out.
When we look at which is more cost effective, the below infographic gives a rough idea on costs involved in this. Each business has different circumstances so this isn't relevant to every business.
What is the difference between internal and external marketing?
When someone says "such and such handles all my socials, website, and promotions," it doesn't necessarily mean they have allowed another company free rein to dictate all marketing strategies. It merely means they have let a third-party business manage all the hard work that goes into planning and executing promotional material. At the end of the day, they still have complete control of the whole process.
External marketing agencies handle everything from the designing and strategising phase, all the way to the completion and analysing phase - of course charging a fee for their work. They are not employed by the business, they act contractors, and meanwhile, completing the same arrangement with many other companies at the same time.
Internally marketing means what you think it would mean. Hiring an in-house team who are solely responsible for that companies marketing. You will find that the larger the company, the more chance they're going to allocate their own internal department to promotions as they usually have the money to invest in this. In some circumstances, the most vital element to the company's success is the marketing team, so keeping it in-house is fundamental.
Why should you outsource your marketing?
Every business is different so deciding on whether to outsource your marketing or not is entirely situationally. However, every day the industry comes out with new ways to reach consumers, new technologies, and new techniques in how to market. Keeping up can be exhausting (and confusing).
If your serious about showcasing your company to the world in the most efficient way possible, outsourcing your marketing can be a smart solution. Here's why.
Digital agencies are experts in their field
One of the biggest reasons why people employee outside agencies to do their marketing is because they are really good at what they do. They are experts: the whole purpose of their business is to deliver the best possible campaigns for clients they can.
Creative agencies are always up to date with the most current technologies and trends, that's their job. Through managing multiple clients, agencies have acquired experience in dealing with a range of different campaigns and strategies. Possessing this background knowledge means they can provide you with reliable insights and educated perspectives. You will also find they are more accountable for the results as they are driving to keep your business with them.
It gives you more time to spend on the business
Are you busy all the time? Do you ever look at your schedule and think 'oh great, I have a whole afternoon free?' No, of course you don't - you own your own business. A tremendous amount of work goes into running a company, and marketing can sometimes be the last thing on your mind – especially if you are not specifically tech-savvy.
It requires time to learn the latest software, gain experience, and keep up with customer demand. Digital marketing is a full-time job, so outsourcing your marketing can be the best way to free up a bit of your schedule.
It can be a cost-effective way to go
Hiring a full internal marketing team is not cheap. In order to cover all of the necessary work, you will need someone to be in charge of the e-commerce online sales, lead generation, social media, website design and development, graphic design, and content creation.
The average salary for a Marketing Manager lies anywhere between $65,000 – $130,000. Rates for external companies that can do the same job, if not better given there is generally a team working on your account, can be anywhere between $20,000 – $50,000. When you invest money, you want to see the best results for as little money as possible. By hiring professionals, you are guaranteed the best bang for your buck.
They provide new eyes and a fresh perspective
Occasionally, repeating a winning marketing strategy is the way to go. Although there are times when repetition can become tedious and ineffective. If you've been working with the same product month in month out, it can be hard to kick start your brain into developing different, fresh, and creative marketing strategies.
One way to break this rut is to bring other perspectives and ideas to the table. When dealing with an external agency, they are not influenced by internal biases and politics. Incorporating these opinions may be precisely what your brand needs to stay innovative and ahead of the curve.
When should you invest in internal marketing?
As stated above, every business is different, and there are times it can be useful to keep your marketing internal. By employing an in-house team, you can rest assured that they will be working entirely on your brand and your brand only. This exclusivity will ensure they develop an in-depth knowledge of your audience, company values, and business processes - ultimately becoming experts on your brand.
Choosing to take this option works for many businesses, and it certainly should be viewed as an option. However, if you are looking for a little extra insight and progress with your marketing, consider looking into an external agency. Sometimes outside influences can be a great thing, and with that little extra help, it can be easier to spend more time enjoying the parts of your business that you love the most.
Happy Hippo Media are professionals in helping B2B and B2C companies generate results with Search Engine, Social Media and Content Marketing. Contact us here to start a conversation with us and see if we're a good fit for each other.