When to Hire an Outside Content Marketing Agency
You had an idea. So, you created a business, and although it began small, your business began to grow and so did the responsibilities. Now, after all of the time and energy you have put into your business, you may be starting to wonder if you’re doing everything in your power to drive sales. Are you getting the marketing results you desire? Would it be more efficient to hire an outside marketing agency, and if so, when?
Key Spending Areas for Inbound Marketing
Inbound marketing can be complex but also powerful when it comes to driving ROI. Companies are increasingly looking into hiring outside marketing experts, but for what purpose?
Paid Ads/Social Media: You can pay per click or per impression. These ads focus directly on your target audience, zeroing in on certain interests and demographics.
SEO and PPC Strategies: SEO strategies help brands’ content stand out through the use of search engine optimization, and PPC strategies show fast results by targeting specific consumers with paid ads. Plus, you only pay when they click.
Website: Customers are using phones less and less and the internet more and more. An updated and easy-to-use website is key in this ever-growing digital age.
These strategies can help with the inbound marketing approach; however, in order to launch a successful campaign, time and money management are essential.
When to Hire an Agency for Content Development
Depending on the size and goals of your company, it’s important to come up with a marketing budget.
When starting out, here is a good breakdown of how to spend:
- 40-50% of budget on planning and content creation
- 20-30% on paid ads
- 10% on introducing company culture into your teams
- 10% on software and tools
When it comes to hiring an outside marketing agency, there are many benefits:
- You don’t need to hire and train an agency: Although a high-quality agency will need to get up to speed on your business’ key pain-points, KPIs and goals, they won’t need to be trained on marketing best practices. Plus, you don’t need to make office space for an outside agency.
- You’ll save money: You won’t have to deal with payroll taxes, healthcare or benefit costs for independent contractors. You also likely won’t have to pay for the marketing campaign tools, and rather than spending thousands of dollars to pay the salaries of an in-house marketing team, an outside agency may only charge your business $4,000 to $10,000 per month depending on your needs.
- You will get a team of experts: You’re not just getting one person; you’re getting a team of experts to help with your marketing. One team. One set price.
How to Measure ROI
The three components of ROI (return on investment) are cost, utilization and performance. You must consider the cost of design services, copywriting fees and projects. Any content that isn’t used is 100% wasted, so the usage needs to be tracked. Lastly, it’s important to mesh your content performance with the business ideas that got you started in the first place.
It’s also important to set goals when striving to improve your KPI’s throughout your marketing campaign. Your goals might include:
- Reaching early stage buyers
- Engaging new consumers with your brand
- Working toward conversions you would have never reached before
Although hiring an outside marketing agency may seem challenging, it doesn’t have to be. By gaining a better understanding of inbound marketing, you will quickly be on the road to a better marketing strategy and giving your company the revenue it deserves.