Business

Marketing Has Evolved at Light Speed Over the Last 10 years, How Can Your Business Keep Up?

It used to be that marketing was a discipline you kept in-house, and most medium to large sized businesses of the past would have dedicated marketing departments to oversee their communications and connect them with clients and customers. However, with the rise of digital marketing and the varied specialisations that accompany it, many companies are now choosing to outsource these responsibilities to digital marketing agencies – but why? There are many reasons, and every business will have its own unique needs and motivations for doing so, but in general the decision comes down to three factors: cost, knowledge, and time.

You may think it would make more sense to keep someone in-house to handle marketing, but in many cases it is actually more cost-effective to entrust that to an external digital marketing agency. Let’s assume you want to bolster your online presence through social media marketing, SEO, and digital ads, and you decide to hire a marketing lead and pay them $70,000 a year for these responsibilities, as well as holidays and benefits. If you’re lucky, the person you hire is good at their job, efficient, and able to bring in more money than you’re paying them – if you’re lucky. Alternatively, you could hire a digital marketing agency for half of that amount and on a project-by-project basis – when you need to launch a new product, or want to bring in more customers, for instance. When the project is done, so is your financial commitment; you’ve saved money and increased efficiency by not having to pay staff for work you don’t need.

By choosing to outsource to a digital marketing agency, you’ve also expanded the depth of knowledge you can access. Modern digital agencies will usually have social media specialists, SEO specialists, copywriters and web developers on staff whose skills you can draw on. Beyond this, agencies have extensive and often industry specific experience that they can bring to your project,  which gives you greater freedom and expertise to reach your marketing goals.   To get the same results in house, you’d have to hire for multiple roles or hit the lottery and find someone that possesses all of these skills. Even if you found such a person, they would lack the ultimate resource: time.

In any business, time is an inescapable factor. When you hire in house, you have to spend time training that person and getting them familiarised with your business, your projects and your goals. If they leave, that time you’ve invested goes with them – along with all of the institutional knowledge they’ve acquired – and now has to be spent training a replacement. When you work with a digital marketing agency, that time can’t just walk out the door. Whether it’s weeks, months or years, outsourcing to an agency allows you to develop a relationship and understanding that only gets stronger with time, and allows you to hit milestones faster, without having to spend your own time overseeing every step of the project.

As business changes, so must we change with it. The rise of digital marketing has not only caused a shift in how businesses communicate, but also in their reasons for doing so. Increasingly, businesses are finding that outsourcing to a digital marketing agency is an effective way to lower their costs, gain better results, and save time, and it’s worth remembering these three factors when considering how to tell the story of your own business.

If you want to learn more, contact one of our knowledgeable consultants at Traction Marketing.

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