Running a business is a challenging feat. There are a ton of things to take care of, from managing the finances to keeping up with your business-related goals and delegating tasks to employees. That leads us to ask: Where does marketing and expanding your clientele fit in? Marketing your business is probably one of the last things on your mind. However, it should definitely be something to include in your business goals.

No matter if you’re a startup business or if you’ve had your nose to the grindstone for decades, marketing is important for business growth. It can bring in new customers by honing in on the right client base, or it can even help you find a new niche to advertise in. Let’s face it — the marketing game is always changing. With the growth of the digital era and social media, the way we market to customers has changed drastically in the last 20 years. And if you haven’t exactly had the free time to keep up with new trends, it can feel like you’re falling behind the competition in the marketing game. 

Be honest with yourself: How effective is your marketing strategy? If you’re not seeing positive results, it may be time to hire a marketing agency. Here are some pros and cons of hiring a team of marketing experts,

The advantages of hiring an agency:

   1. Expert advice from the right people.

A marketing agency will have a group of experts in a variety of areas specializing in the respective fields, such as videographers, social media gurus, graphic design specialists, copywriters, and even account executives, who will function as an intermediary between your business and their marketing team.

With this team of experts, you can hone in on your marketing weaknesses. They’ll handle all the heavy lifting, such as posting on social media, updating your website to remain current with ongoing SEO trends, photographing special events (or even day-to-day activities in the office), and everything else that goes along with your personalized marketing plan.

   2. You may learn a thing or two.

If marketing isn’t your forte, you’re sure to learn a bit about the industry. For example, did you know that SEO trends constantly change from year to year? If your website hasn’t been updated in the last few years, you’re missing out on potential traffic.

Again, a marketing agency has a team of specialists at its disposal that can help you grow your business. (They have a few tricks up their sleeves.) This team can help you learn where your weak spots are, what strengths are helping your business, and what will help your client base grow. 

   3. The ability to grow and change your marketing plan.

As you work with a marketing agency, your marketing plan may change over time to adapt to your business. As your business grows, the agency can revisit and modify your contract to expand your business. Bringing in more revenue? You may want to add more videography to your plan or start a monthly blog on your website.

   4. Potential savings with a marketing agency.

Yes, you read that correctly. Typically, hiring an agency is cheaper than hiring more in-house employees. And even with the lower price tag, you can still have access to a team of people. Think about it — between the time and cost (and let’s face it — time is money!) of interviewing, onboarding, training, and everything else that goes along with hiring marketing people, the average cost per hire in the U.S. is around $4,000. Multiply that by the average number of people working in a marketing agency and see the savings! Or even worse — say you hire someone in-house for marketing, and that particular person doesn’t work out. On average, a “bad” hire can cost upwards of $15,000, and then you have to go through the hiring process all over again.

   5. Higher rate of success.

It’s no secret that working with a marketing agency will bring in more business — you’ll see growth in the number of customers, digital traffic to your website and social media accounts, and overall revenue. It’s all thanks to the knowledgeable team of people they have working for them.

The cons of hiring an agency:

   1. Expert advice costs money.

Yes, hiring an agency is still potentially cheaper than hiring an in-house team, but that doesn’t mean it costs next to zero. The employees need to earn a living; high-quality equipment and field expertise means the agency may charge more to cover these expenses, and as we said before: time equals money. We understand that money and service costs may be a deterrent to some smaller businesses, but remember that an agency will usually work with you to develop a marketing plan that works for your budget.

   2. Differences in opinion or vision.

You may have an idea in mind. The team at the agency may envision something different. This can lead to disagreements between you and the marketing agency, and no one enjoys conflict. As their client, you should naturally have the last say, but that doesn’t mean you should completely disregard the agency's suggestions. Finding a friendly compromise is critical to success with your marketing agency.

   3. Delays in production.

Yes, things happen that can lead to delays in production. It’s an unfortunate reality of any business. Whether someone’s out sick or on vacation or there are errors with equipment, anything can lead to a blip in the process. Most agencies will have a backup plan in case of delays, whether it’s an extra body to take over or extra equipment, so significant delays should be rare. Still, they happen despite the best efforts of the team. 

   4. Lots of questions and potential meetings.

Maybe not so much of a disadvantage, but because the agency doesn’t know you or your brand, you’ll have to answer many questions or have multiple meetings. It may seem like a hassle, but trust us when we say it’s for the benefit of your business. An agency has to understand what its goals are to come up with a compatible marketing plan.

   5. Most agencies don’t specialize in specific industries.

There are indeed a few industry-specific agencies, but in most instances, specialization isn’t a priority. The majority of agencies have clients in a variety of industries and specialties, which means they may not have experience with your field. While they can learn about your business area of expertise, filling in the knowledge gaps may take a little time. This means it may take longer before you see results.

Ultimately, the decision to hire a marketing agency can be a tough one. There are many things to consider, such as weighing the business’ budget and overall agency costs to the potential growth your business could see. If you choose to work with a marketing agency, there are other considerations to take into consideration. What level of involvement do you want? What sort of marketing help are you looking for? What are your current marketing strengths and weaknesses that an agency could help with?

If you’re ready to tackle your marketing strategy, let Ghost Brands help! We have a fantastic team of experts who can help you take your marketing game to a whole new level. From search engine optimization to videography and social media marketing, Ghost can handle all your marketing needs. Fill out our form today to find out how we can help your business reach new heights!