Marketing is critical to your business. Knowing which strategies will be effective and understanding how to combine different tactics across a variety of channels can result in a level of complexity you don’t feel you have the expertise in-house to pull off.
If you believe you can’t afford to hire a marketing agency, but also know you can’t afford to continue throwing money at marketing campaigns without tangible results, it may be time to re-evaluate what you know about working with a marketing agency.
After experiencing significant lost time, money & opportunities, more and more small businesses recognize that hiring an agency can deliver more leads & increased revenue and ultimately be the best spend for their marketing dollars.
So how CAN a marketing agency help increase revenue?
Through Defined Processes and Best Practices
Setting specific and measurable objectives is one of the first steps to marketing success. If you don’t understand exactly what you hope to accomplish through your efforts, it will be impossible to determine what your Return on Investment (ROI) is.
Here is a quick calculator to help you figure out what the ROI of Inbound Marketing might look like.
When businesses attempt to do too much – like juggling marketing efforts as well as running day-to-day operations - it’s easy to get off track. There are MANY ways to spend marketing dollars and if you’re not basing those investment choices on the strategies and tactics that are proven to be successful, you could be getting no real value out of your marketing spend.
A qualified marketing agency knows what works and what doesn’t and may even have experience in your industry. They have the expertise necessary to help you determine which approach and channels you should be investing in.
Take inbound marketing as an example. Inbound marketing is a marketing approach that has earned a solid reputation for turning awareness into leads, and ultimately revenue. Based on a study from Gartner, properly executed inbound marketing tactics are 10 times more effective for lead conversion compared to outbound methods.
A marketing agency can advise you as to whether a not a strategy like inbound marketing is right for your business, be able to help you determine which Key Performance Indicators (KPIs) you should be tracking, and have the dedicated resources necessary to implement the strategy.
You’ll Spend Less on Internal Staff and Increase ROI
Developing and executing strategic marketing plans and campaigns requires knowledge and experience. Hiring an internal team with the variety of skill sets you need is proven to be costlier and just isn’t practical. Interested in a side-by-side cost comparison of hiring internally vs. hiring a marketing agency? Check out this article.
When you hire a marketing agency, you get access to an entire team of experts – pros who know every aspect of marketing – creative content developers, graphic artists, social media managers, web developers, marketing analytics experts and more. Depending upon the firm you choose to work with and the agreed upon rates, this can cost less than one internal full-time professional marketer.
Because Time is Money
Developing and executing strategies is time-consuming. Experts who do it for a living are efficient and have solid, repeatable processes in place.
Do you have a lead generation process and sales funnel that you constantly monitor and update? Are you tracking which marketing efforts are resulting in more website traffic? Does your team struggle to understand website or social media analytics or battle with the constant need for fresh, creative content?
The value of your time saved due to an agency’s efficiencies may very well offset the cost of the agency fees.
The Focus is on Results
If a marketing agency is consistently unsuccessful, they won’t stay in business! Remember, they WANT to deliver results for your business. That’s how they earn more business. A successful marketing agency will be motivated to consistently deliver value to its clients and has tried and true tools and processes in place to deliver the highest possible ROI.
When assessing agencies, look specifically for a proven track record, review customer success stories and follow-up on client references.
You know that you don’t have the expertise internally to truly run effective campaigns, but you may have been holding on to the notion that you don’t have the budget to hire a marketing agency. Working with a marketing agency allows you to control costs and drive business through proven strategies executed by professionals who are trained to consistently analyze and optimize their methods for delivering results.
Olivia is the Co-Owner and VP of Sales for InTouch. She loves getting to know and connecting with people.