All businesses need the right marketing approach to increase revenue, grow the company, and reach more customers. Hiring an outsourced marketing team from an agency is the best option for many growing companies.
Many organizations that have reached a certain level in the industry opt to hire in-house marketing. While some companies have valid reasons for doing so, many companies feel that it’s a decision that will benefit them more in the long run.
Are you currently trying to figure out if your company needs to hire an in-house marketing team or outsource to a marketing firm? Keep in mind that your decision should not base on what you feel you should do according to your company’s size. You need to know what’s right for your business, so understanding the pros and cons of in-house marketing and outsourcing is critical.
Whether you choose to hire or outsource, it’s a decision that will significantly impact your company’s future. It’s a crucial decision that you need to take seriously. This article will compare the key differences between outsourcing and hiring.
Outsourcing Marketing to an Agency
Many organizations prefer to outsource marketing to agencies or consultancy firms. This has been a common practice of most companies in the past decades, but technology made it even more popular. Outsourcing is pretty common in many SME’s. However, even bigger companies also use marketing agencies to help their in-house marketing teams.
In general, outsourcing marketing to an agency involves hiring an agency to manage the company’s marketing operations for fees that may be paid annually, monthly, or by any payment arrangements.
When you outsource marketing to a consultancy, you will have a contract with them. This contract involves the responsibilities of both parties, and the terms will depend on the needs of the company and the services the agency offers.
Benefits
- Outsourcing is straightforward.
- Your marketing and branding agencies can work together to help your business, making their impact on the organization more powerful.
- Marketing agencies typically employ experts, ensuring that your company is in good hands.
- You no longer need to create a space for the team as they have their own office.
- Agencies usually have everything they need (resources, contacts, etc.) to help the organization.
- You don’t have to purchase marketing tools anymore as the agency has access to them.
- You don’t need to pay for the services you don’t need. Just let them know the package you want to have.
- Working with an agency for a long time gives them the chance to know your company more.
Cons
- If you are working with a marketing agency for the first time, they are more unlikely unfamiliar with your company’s brand and culture.
- You might feel like you’re not a priority, which is unacceptable.
Hiring an In-house Marketing Team
If you decide to hire an in-house marketing team, you need to build a group of experienced marketers who dedicate their expertise to the organization. They will handle all marketing concerns and tasks related to it. Ideally, it means hiring trained marketers who will have different roles in the company according to their experiences and qualifications.
However, hiring the best people for your marketing team is a great challenge as not all candidates will possess the skills required for the position. You will most likely need to train them to create an efficient team.
One of the advantages of hiring a team is that they will work for you full-time. They will commit themselves to ensuring that the company’s marketing needs are met. Initially, you have to make them understand the company’s vision so that they can work towards accomplishing it through their expertise.
Benefits
- The company will have complete control of who manages the organization’s marketing needs and how they work on them.
- You don’t need to monitor them all the time as they are familiar with the company’s culture and brand.
- Communicating with the team is easier as they are always within your reach.
- Having sales and marketing teams under one roof is great for business.
Cons
- Hiring an entire team is expensive. Plus, interviewing and hiring the right people need time.
- You’ll have to pay for extra office spaces and supplies.
- The team itself can be burdensome if they don’t reach their targets.
- It’s quite challenging to accomplish all kinds of specializations required to execute efficient marketing plans with an in-house team.
Marketing is an element of your business that you need to assess carefully. In-house marketing and outsourcing have their own benefits, but your final decision will still depend on your company’s actual needs. Make sure to consider all factors listed above before making a decision.
