Let’s begin with the most common questions. Why hire a media agency? Is it worth the investment? And maybe, How do I trust an agency to deliver results and ROI?
There is a common perception that hiring an outside agency is far more “expensive than having an in-house department. Unfortunately, that logic is often assumed by an owner that doesn’t have a true foundation of measure.
This is usually because business owners will often visualize an employee’s salary against an hourly rate for an agency and then decide that since the hourly rate is higher, it must be more expensive. What isn’t taken into account are all the additional costs related with hiring and keeping an employee. Costs such as payroll taxes, insurance contributions, 401k, sick pay, vacation, and more – which quickly add up to 1.5 times the base salary.
While it’s true, hiring a marketing agency requires investing your time, money, and trust –a good one can carry your brand into the future, and the wrong one can mean a waste of all these efforts. So let’s talk about the best fiscal and business reasons to find an agency partner that will have your revenue growth as their highest priority.
Hiring an agency will directly affect your bottom line -in a positive way. Imagine if you were to hire new employees to create and manage all the different channels and planning of your company’s marketing strategy. You would be looking at researching and meeting with people to buy media, do copywriting, operate SEO, graphic design, manage online communications, strategize campaigns, measure data and revenue, and more.
It doesn’t end there. It’s a common myth that buying direct can save money on agency fees. The reality is a media agency removes the back-and-forth of negotiating and uses their relationships to plan effective reach and frequency. They also can take advantage of a bigger buying power and preferred rates with media outlets, as they commonly manage several budgets, ultimately saving time and money.
Many business owners are natural DIYers (Do-It-Yourself). It’s a mindset that helps build success from an idea. But that often means competing with paid specialists instead of aligning with experts to accomplish goals and overcome challenges. The learning curve in marketing is astounding as technology and techniques are constantly changing.
The time and effort necessary for someone to learn how to achieve and accomplish a comprehensive marketing strategy would certainly drain a business owner of the time to run a successful business. While an individual can find enough information to complete specific functions, there are numerous channels, choices, and elements that a DIYer with little marketing experience doesn’t have the time or resources to navigate. Leaving businesses with a choice: to either hire expert marketing employees or secure the services of an agency.
It’s like having a Marketing Library at your beck & call. Agencies do more than just buy media or create catchy ads, they have the collected brainpower of their experts to bring current and previous campaign experience to analyze and protect your future strategies. It can be difficult to keep track of all the advertising trends and digital updates that occur on a regular basis. Knowing little things like a show generating a buzz for your target audience, to big things like shifting rules & regulations in online advertising. Agencies stay educated and share that information directly with you. It’s like having insider knowledge about the marketing world before you try out a new media format or social channel.
Agencies also have tools that are often too expensive to buy, which allow a better measure or understanding of the impact of your campaigns. Planning, buying, measuring, and modifying your advertising is a collaborative effort with many moving pieces. Successful agencies will set up long-term, growth-based marketing goals, making sure you get the most out of your marketing dollar and growing your business year over year.
The right agency will be a growth partner for your company. These are just a few benefits ensuring your business’s growth with an agency. It’s important to select a team that can advise with unbiased opinions, propose new solutions, and challenge your ideas. They become a seamless part of your company culture. Businesses of all sizes are increasingly investing in marketing and reaping the benefits. The combined experience and creativity are one of the biggest benefits. And as you take off on your growth journey, having an entire team with specialist skills is a powerful asset for your company’s revenue.
Before you sign a retainer, ask yourself these three questions:
• Does everyone have a clear understanding of expectations and your company’s vision?
• Is the agency fully aware of your challenges and goals? Meaning: Are they a good listener?
• Are they honest and unbiased? An agency is not your yes-man and should bring a critical perspective that is
sincere and helps your brand perform better.
Are you ready to get started?
