As a business owner, you are the expert of your field. You’ve honed your product or service so that it (you hope) will delight your customers. You have done your research to know who your audience is (you think), and you’ve made important hiring decisions to build the team to operate your business. Now it is time to get out into the marketplace and tell the world you’re ready for them. But how are you going to do that? You can either build an internal marketing team or your can outsource your marketing to an established firm.
What do you do?
Both have its benefits. And like the fuel in many fires, it comes down to time and money. Building an internal marketing team takes up a lot of both.
Buying Experience Pays Off
Outsourcing your marketing to a firm has the potential to be one of your best investments. Just as you are the professional in your field, so are they. Marketing firms that specialize in serving as an external marketing department of their clients pack a lot of punch as they bring a lot of experience to the table from day one of the engagement.
They have one focus day-in and day-out: grow their clients’ business. They have tested, failed, succeeded, and mastered consumer behavior, promotions, social media, design, and in cases of firms that focus on digital – technology. Your company benefits from fine-tuned strategies and project management when you work together. That’s a competitive edge you don’t have to spend months or years cultivating in-house. You get that overnight when outsourcing your marketing.
One Fee, Many Benefits
Essentially, when outsourcing your marketing to a firm, you hire one company to do the work of several employees. With an outsourced marketing company, you will be paying less for more. They can manage social media accounts, handle public relations events, design websites and create unique graphics for your company. They may also be responsible for developing strategy, writing marketing plans, representing your company at trade shows, writing blog posts, manage internal communications, or even serve as interim VP of Marketing when staff members go on maternity leave.
The Cost of Outsourcing Marketing
Utilizing an outsourced marketing firm will not only put a team dedicated to growing your revenue, but will cost much less than hiring marketing management or building an internal marketing team.
Take a look at the numbers for a VP of Marketing with an average of 10 years experience using the calculator at Jolanders.com and salary data from PayScale.com:
- Median Salary: $123,613
- Median Bonus: $26,995
- Health Insurance: $16,351 (Source: National Conference of Legislation, 7/2015)
- Paid Time Off (Vacation + Holidays): $15,518
- FICA, FUTA, State UI, Workers Comp:$11,904
- TOTAL Cost of Benefits: $70,768
- TOTAL Annual Cost: $194,381
Compare this to a small or mid-sized marketing company that charges a flat fee of $2,500 – $8,000 per month for services, and you’ll only be spending between $30,000 – $96,000 on outsourcing your marketing, a savings of around 50%-550% — and gaining a team of people for that price.
Most firms will set a flat fee that covers a scope of clearly defined services. Depending on how comprehensive the services are, that fee will range. If the company finds that they need additional marketing help that is not covered by the scope, the firm will either bill hourly for the task or add an addendum to the contract with fee for the new project. This way, the client is only paying for the services they need – not for someone to sit at a desk, waiting for direction. Expenses, such as postage or travel, are often added to this and billed monthly or quarterly.
Solutions Found Faster
Digital marketing firms such as Sinuate Media, are trusted by companies to outsource their marketing for several reasons. They have the ability to bring a new and updated perspective on your marketing needs. They have worked with numerous businesses, in and out of your field, which may mean they already have solved problems just like the ones you are facing. This knowledge and experience will speed up the delivery of a solution and save money for the company doing the outsourcing.
Many companies feel that they benefit from a third party that can bring fresh and useful ideas to the brainstorming table. Outsourced marketing teams also know about deadlines and the right ones are reliable when it comes to meeting them. Since you will only be paying for time spent working on projects, not empty minutes throughout the day, your business operates leaner. Time your outsourced marketing firm is spending on marketing your business is more time that you can spend on developing new products, expanding your team, and growing your business.
At Sinuate Media, we have more than 10 years helping businesses and brands grow through digital strategy and promotions. You will give your business a competitive advantage by hiring a company like ours that will cut costs and provide you with an experienced and skilled team for less than the cost of hiring a Marketing Director. You will also gain a trusted partner that leverages creativity and analytics to grow your sales.
To see if Sinuate Media is the right fit to work with you, schedule a free, no obligation consultation by visiting http://sinuatemedia.com/marketing-consultation/.