Marketing strategy is one of the most important parts of growing a business. But what’s the best way to develop and execute that strategy? The solution is different for every company, but typically the options include either hiring an employee or an entire team to do internal marketing, trying to figure out the marketing strategy yourself, or hiring an external marketing firm to get the job done. Here are some things to consider if you decide to take the latter route and hire a marketing firm.

 

Pros

Expert Strategy, Expert Results

For companies that do not have the capacity to hire their own internal marketing team, hiring an external marketing firm can be the perfect solution. While some businesses try to take on marketing themselves or potentially even hire one employee specifically to handle the company’s marketing needs, hiring a marketing firm is an alternative option that can yield better results, often at a better price point.

The cost of hiring a marketing firm can be significantly less than the cost of a full-time employee’s salary to handle marketing needs. In addition, marketing firms possess more resources and team members than a single marketing employee. At the end of the day, it is far more likely that your investment in a marketing firm will yield a better return than other options for marketing your business.

Focused Team

Hiring a marketing firm gives you the perks of a full team of experts dedicated to creating a marketing strategy for your business. This is much more beneficial than trying to create the strategy yourself, which takes focus away from other important parts of your business that might need attention.

Instead, you’ve got a team specifically dedicated to what they do best- marketing. Attempting to market your business on your own can be stressful. Tacking it onto another employee’s list of responsibilities can put pressure on that person. Neither of these options guarantee you the same focus or success that a marketing firm does, either. In the end, it’s best to keep everyone in a place where they execute work based on their strengths, and the strength of a marketing firm is to develop a successful marketing plan for your company.

Less Burden

Once you’re set up with the right marketing firm, a huge weight is lifted off your shoulders. No more worrying about social media strategy, website SEO or ad campaigns. The marketing firm has it covered. This team plans and executes exactly what you need, without you having to do more than give them a stamp of approval. The ease of having a team like this can easily outweigh alternative options.

 

Cons

Costs

Any service required for business growth is going to cost money, marketing included. A large marketing firm might come with a hefty price tag, but if you do the right research, there are firms that offer different packages to fit your budget.

More importantly, the return on investment for hiring a marketing firm can be incredible. Ideally, the impact of successful advertising campaigns on a company’s sales more than pay for the marketing services provided. A marketing firm’s bottom line when they’re hired for your company is to increase awareness of your company, and therefore make you more money.

Understanding the Industry

Hiring a company that works outside your industry can be difficult. There may be a lack of knowledge when it comes to industry specifics. However, there are options; if you can find a marketing firm that already specializes in your industry, or find a firm that has great communication skills, you are far less likely to run into issues.

Plenty of firms will have prior experience with certain industries, so they already possess the knowledge they need in order to create a successful marketing strategy for your company. If you can’t find a firm with this experience, finding a firm that keeps an open line of communication with you can clear up any confusion and help keep them in check.

Hiring a company that is on top of communication is important, regardless. Timely response to emails and phone calls, as well as meeting project deadlines is a must. When working with a marketing firm that satisfies or exceeds these needs, the likelihood that they will be able to overcome any obstacles that come along with learning a new industry is much higher.

Establishing Trust

When placing important business matters in the hands of another company to handle, it can be stressful for a business owner. Marketing firms have multiple clients, so you might think you’ll have to vye for the firm’s attention. However, when you find the right marketing firm for your needs, it shouldn’t feel that way at all. A firm will have specific time and resources dedicated to the success of your marketing campaigns.

What might be more difficult than keeping that open line of communication or getting the attention of your marketing team is actually letting go of some control to give the firm creative freedom over your marketing strategy. Being a business owner often means handling things yourself- in this case, however, paying a marketing firm means that you are handing over this portion of the business to someone who knows best. The most efficient thing you can do is trust the experts and enjoy the outcome.