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The best use of your 2020 marketing budget: In-House vs. Agency

Posted by Jennay Wangen on 10/21/2019
The best use of your 2020 marketing budget: In-House vs. Agency

Your business is growing and 2020 looks to be a good year. 

You want to invest in more marketing. You’re thinking, “I can hire someone, or I can utilize an agency.”

Let’s explore what’s right for your business. 

Cost

Marketing costs money. You have a budget in mind for 2020. How can you get the most cost efficient results for your marketing?

  • In-house Marketing
    Are your company’s marketing needs enough to justify a full-time position or positions? An in-house team means yearly salaries, benefits, software subscriptions, equipment, increased technical support and possibly training. Plus there is the added task of managing and maintaining a consistent workload for the marketing person.
  • Hiring a Marketing Agency
    Agencies, on the other hand, typically come with fixed prices and are already equipped with all the tools they need to take on your projects. You don’t need to engage, manage or an agency when they are not needed. 

Conclusion

Agencies save businesses money and resources. Companies that hire agencies vs. an in-house marketing team save a considerable amount of money. In fact, American small businesses that choose to work with agencies over hiring in-house are the most satisfied with their marketing efforts. 

Skills and Specialization

Effective marketing isn’t a one-size-fits-all endeavor. To successfully reach your company’s business goals, you may need an array of marketing services. 

  • In-house Marketing
    Hiring an individual who has expertise in everything your company needs – web design, copywriting, ad design, budgeting, digital marketing, optimization, SEO, analysis, coding, etc. – is almost impossible. And hiring a team is, well, expensive (see above). 
  • Hiring a Marketing Agency
    When companies outsource marketing projects to agencies, they are hiring an entire, highly-skilled and well-equipped team to take on any marketing effort for your company.  

Conclusion

Agencies have the skills and specialization necessary to deliver results and ongoing optimization for your digital marketing campaigns. 

The Best Ideas & Internal Bias

When a company decides to hire an in-house marketing team, there’s an increased risk of internal bias. 

  • In-house Marketing
    The intimate knowledge you have about your company may influence in-house marketing to stick with what you think is best to reach your customer – even if there’s a better solution available. Because of the internal pressures put on in-house marketing teams, it may be difficult for these employees to correctly identify areas for improvement and missed opportunities. A “Don’t rock the boat - I need this job” attitude can adversely affect the quality and out-of-the-box thinking of marketing solutions.
  • Hiring a Marketing Agency
    With an agency, there’s no risk for bias. Our goal is to put together the most effective marketing mix for you, even if it means being candid about what’s not working for your company. 

Conclusion

With the right agency, you’ll receive clear and honest insight into which direction your company should be going towards.

Networking Community & Continuity of Knowledge

  • In-house Marketing
    You may find an individual that can do it all and has the experience of building networks, but it's unlikely. Plus, if you do find that amazing individual or individuals on your marketing team - if they leave, you have lost the vital knowledge and continuity that a solid performing agency can give you. 
  • Hiring a Marketing Agency
    A well-established agency will have years of networking and building connections. The will likely have the experience of effective marketing within your market and industry. They will have the resources to connect businesses to your customers. It takes years to develop this type of insight, something an in-house team simply doesn’t have the resources to do. 

Conclusion

With an agency, you get a company that knows what’s exactly right for your market – because they’ve been working in it for years! 

The Bottom Line

While there are valid reasons for hiring an in-house marketing team, outsourcing your 2020 marketing plan and projects to an agency continues to be the best way to go for most small and medium-sized businesses.

Since 2000, Back40 has been creating award-winning digital and print marketing projects while providing secure hosting for 600+ clients across the country. Our team of designers, developers, digital marketers, and project managers are dedicated to your success. 

Click, call, or come by our office to schedule your free consultation today.