Thinking about hiring an advertising agency?
Advertising is a critical component of any company. But if you’re running a small business, hiring an outside advertising agency may seem like a luxury you cannot afford. It’s time to change that logic. You might be surprised to learn that many small businesses use advertising agencies to create targeted advertising to local media at an overall price that is lower than you may think.
There are significant benefits to both advertising in-house and hiring an outside ad agency – there is no one-size-fits-all plan. Some advantages of having an in-house marketing team is that you are able to manage your staff directly and hold them accountable for deadlines and work. Also, your employees are familiar with your products and services, thus making them the best spokespeople for your company. On the other hand, an agency has its perks as well including lower overall cost with the added benefits of software expertise and licensing. Specializing in advertising, an agency is stocked with a talented staff of creative writers and designers.
Time: Let’s face it, you’re busy. If you’re running your small business, it’s hard to devote any extra time to advertising efforts. Great advertising campaigns require time and energy, and maybe you or your employees simply do not have the time to dedicate to advertising. If this is the case, outsourcing may be an asset to your company. By taking out the legwork of advertising, you can focus on other areas of your business.
Money: If you want to bring a marketing and advertising expert on board, you’ll have to consider the monetary commitment you will be making to this decision. Although it can be highly advantageous to your company to have someone in-house to handle all marketing and advertising needs, said employee would require pay and the software needed to create advertising materials. Advertising fees may seem expensive and hefty at first, but may less out-the-door than hiring an internal marketing manager or even a marketing team for your business.
If you bring on a marketing professional, you can expect to pay the following amounts, assuming 35% benefits and a 20% bonus yearly:
|EXPERIENCE||SALARY||BENEFITS (35%)||BONUS (20%)||SOFTWARE||ANNUAL COST|
Marketing/advertising agencies work on a retainer, hourly, or project basis, with costs that can range from $2,000 to 8,000/month for a professional firm, bringing annual costs to $24,000 – $96,000 per year depending on the amount and type of work that needs to be completed.
Expertise: Sometimes, you just don’t know where to begin, and that’s okay. If you don’t have a starting point – or perhaps your previous ad campaigns have flopped – outsourcing your advertising efforts can be highly beneficial. Not to mention advertising agencies are up-to-date on new media and will know what will work best for your business. Advertising companies know how and where to get your message across to target your exact audience. Although your employees are great representatives for your company, it is important to have your voice broadcast in the right channels, which an agency will be able to execute.
What option you choose for your business boils down to is what is best for you and your company.