As a business owner, you face challenging decisions on a daily basis. But the last thing you should have to worry about is deciding on your digital marketing approach. You have two options: create an in-house team or hire an external provider.
Selecting your operational strategy is not a simple task and takes influence from many factors. The real challenge lies with which factors you should consider given your business’s current needs and immediate plans. Will an in-house team help you reach those goals or is outsourcing the best decision to achieve results?
To guide you in the proper direction, let’s look at the pros and cons of each approach to see which marketing solution is right for your business.
Pros And Cons: In-House Team
If you already have the talent working within your company, all you need to do is bring everyone together. But you need to make sure they are the best candidates to take on this feat. Your in-house team needs to be made up of capable workers with the right skills, attitudes and skills to achieve your business’s digital marketing goals.
A major plus for working with an in-house team is they are already familiar with your brand’s mission, goals and vision. They have also been immersed in your business’s processes and procedures. When you have an in-house team, you are able to contribute to brainstorming sessions and have the ability to check in on the process on a regular basis.
But if you don’t have this team already working for you, this is where things get tricky. Finding the right people isn’t always an easy task. Candidates who are great at their jobs may not be available, and qualified candidates might be over your budget to hire on a full-time basis. Depending on your budget and existing resources, hiring an in-house digital marketing team can be very expensive.
Even if you do find a new hire that fits your criteria, there will always be an adjustment period. There is no guarantee they will be able to work at full effectiveness by the time your business needs begin to take the form of crucial digital marketing campaigns. You also risk losing great digital marketers if your marketing strategy lacks creativity. When the job starts to become predictable and creative professionals get bored, they start to direct their attention elsewhere. In fact, this is one of the reasons why many millennials, or those under the age of 32, are reported to change their jobs at least four times within the first 10 years in the workforce.
Pros And Cons: Outsourcing
If your business doesn’t have the experience and resources to build and run a digital marketing strategy, it’s time for you to consider outsourcing. It’s important to keep in mind that any marketing effort is only as good as the people behind its design and execution.
It’s likely that an established marketing agency will have experience and success working with a business like yours. This means that these agencies know how to grow within specific industry segments. Digital marketing agencies focus on a particular business function. This means they stay up to date on the best practices and latest trends with their scope of work. You also have access to their entire team’s knowledge and expertise.
But keep in mind that outsourcing fees can be more expensive than you expect. Before you rule outsourcing out completely, weigh out the cost of hiring your own in-house team of digital marketing specialists.
According to Glassdoor, the national average salary for a marketing manager is $78,141. But that is just for one employee. If you wanted an in-house team of agency-level experts, you’d be looking at an annual cost ranging from $742,000-$1,019,500. Even with a team of generalists, you’d be stuck with an annual cost ranging from $337,053-$946,953. When you work with a digital marketing agency, you get the experience and quality at a fraction of the annual cost, ranging from $24,000-$96,000.
If your business has sensitive materials or strict operational regulations, the biggest issue with outsourcing is that you lose a segment of control over your marketing assets.
Making The Right Choice For Your Business
If your desired marketing strategy calls for a team working toward predictable and consistent targets and you have a considerable budget, keeping your digital marketing in-house might be the best choice. On the other hand, external providers give you the opportunity to focus on other aspects of your business while their digital marketing experts carry out and strive toward your business’s goals.
To figure out your best option, think about your business’s objectives and consider your business model. With these factors front and center, you will be able to make an educated decision. It all comes down to the current requirements and goals of your business when deciding the best approach to maximize your business growth.