In today’s digital age, starting a new business has become more accessible than ever thanks to the rise of e-commerce platforms like Shopify, Amazon, and others. According to a report by the US Census Bureau, a record-breaking 5.5 million new businesses sprouted in 2023 in the United States alone. Crazy, right?
However, what often goes unnoticed is the stark reality, that only a fraction of these businesses manage to stay afloat and achieve long-term success. Research from the US Small Business Administration shows that only 50% of small businesses survive beyond five years of their inauguration.
So what happens to the remaining 50%? Why do some businesses fail regardless of their investment budget and service quality?
Why Do Businesses With Extensive Marketing Fail?
Well, a big part of the problem comes down to marketing; or rather, the lack of effective marketing. You see, it’s not necessarily that these businesses lacked great ideas or top-notch products. It’s more about not having the right marketing strategies to get noticed, connect with customers, and keep growing in a super competitive market.
Marketing for a business is like a compass for a ship. Just as a ship’s compass helps sailors navigate through unknown waters and turbulent seas, marketing acts as the guiding light that helps businesses navigate challenges, understand customers, and stand out in a crowded sea of competitors. Without it, a business is as lost and adrift as a ship is without its compass.
In-House Marketing Pros
First and foremost, hiring an in-house marketing team gives you full control and oversight over marketing efforts. You get to handpick the talent, set the budget, and tailor strategies that align with your business goals resulting in quicker decision-making.
Moreover, as vital members of your company, present in all important meetings and decision making, these people have a deep understanding of your business that gives them a unique edge in creating campaigns that align with your goals and resonate your brand’s essence and message.
Another one of the key In-House Marketing Pros is having immediate access to resources and expertise. Need a quick update on your website? No problem. Want to launch a new product campaign? Your team’s got it covered. Thinking of reinventing your brand from scratch? Consider it done! This agility, quick action, and responsiveness can be a game-changer, especially in today’s fast-paced digital landscape where trends come and go in the blink of an eye.
In-House Marketing Cons
Before you get all excited, you must know that it’s not all sunshine and rainbows with in-house marketing.
Building and maintaining an in-house team requires time, effort, and investment. You’ve got to find the right talent, offer competitive salaries, invest in training, and keep up with ever-evolving tools and trends. For small businesses or startups, this can be a hefty investment.
Then there’s the vast field of marketing itself that expands beyond creating catchy slogans and running social media ads. Think of it like assembling your own Avengers squad; you need the right mix of skills, and resources to cover all bases like SEO services, influencer partnerships, content creation, and a whole lot more.
And let’s not forget the never-ending cycle of hiring and firing. People come and go, and when a key player leaves, it can leave a temporary gap in your marketing strategy. Finding the right replacement takes time and effort, which naturally disrupts the flow of your campaigns.
Now that you have a better understanding of what an in-house marketing team is and how it works, let’s explore a little about hiring marketing agencies and what sets them apart from the former.
What is Agency Marketing?
Agency marketing is basically outsourcing your digital marketing services to an experienced agency. A marketing agency has an entire team of marketing wizards who live and breathe marketing strategies, from social media management to SEO and more. With agency marketing, you get access to a diverse range of skills, fresh perspectives, and a dedicated team ready to make your brand shine in the highly saturated market.
Have you watched Emily in Paris on Netflix? Emily’s job in the show perfectly depicts what a marketing agency does. Just like Emily, who tackles various clients, a marketing agency takes on different brands, creates captivating strategies to boost their visibility, introduces new products, attracts more customers, and achieves overall growth.
Agency Marketing Pros
One of the most notable perks of outsourcing your marketing services is that agencies work with multiple clients other than you, and hence offer fresh and innovative perspectives which keep evolving with time. This can lead to more creative campaigns and unique approaches that stand out in the market.
Similarly, as agencies work with multiple clients of the same niche, they are more updated with industry trends, market dynamics and best practices which helps them avoid investing in redundant strategies that are less likely to yield results.
Moreover, agencies provide scalability, allowing you to ramp marketing efforts up or down based on your needs. In easier words, as your business grows, the agency can adjust its marketing efforts accordingly. Whether you need a new campaign, increase advertising spend, or scale down during quieter periods, agencies can quickly adapt without the need for hiring, training or replacing staff.
Last but not the least, hiring an agency allows you to focus on other aspects of your business, leaving the marketing part to the gurus. This not only saves time and energy required for recruiting and training staff, but also makes it easier for you to utilize your resources for other tasks.
Agency Marketing Cons
While we agree that outsourcing your marketing services can be a game-changer, it’s still not without its challenges.One of the primary concerns with outsourcing is the potential loss of control over your marketing strategies and campaigns. Since the agency operates independently, you may not have direct oversight or real-time control over day-to-day activities.
Similarly, differences in time zones, cultures, or languages may lead to misunderstandings, delays in project delivery, or misinterpretation. This is why it’s extremely crucial to find a marketing agent with whom you can easily communicate your goals and expectations with.
Moreover, since you’re not working with people sitting under your own roof, getting immediate support for urgent needs or last-minute changes can be a bit challenging. It might take you a few days, and multiple phone calls or zoom meetings to explain your idea before it’s being implemented.
That’s not to say that outsourcing your marketing is necessarily a bad move. Sure there are some cons but by acknowledging the possible hurdles you can prepare yourself to tackle them head-on.
In-house Marketing vs Agency – Which is Better?
Choosing between in-house marketing and hiring an agency is like trying to decide between DIY home renovations or hiring a professional contractor. While the former gives you more control over all operations, the latter yields better and more refined results.
To answer your query “should I do in-house marketing or work with a digital marketing agency?”, you must ask yourself, what do you value more? Having control or getting better results?
Typically in order to avoid costs, small businesses think they are capable of handling their marketing campaigns on their own. However, it limits them to a certain level. Rather than trying out different campaigns and wasting resources, it’s better to hire expert agencies that know what they’re doing instead of working on a trial and error basis.
When you partner with a digital marketing agency, you’re not just hiring a team, you’re enlisting the help of marketing wizards! These folks are armed with all the necessary skills and experiences, ready to work their magic on your campaigns. They bring a breath of fresh air to the table, offering specialized expertise and innovative ideas that can take your brand to new heights.
Contrary to popular belief, working with a digital marketing agency doesn’t mean you let go of control. With the help of clear communication and alignment on goals, there’s no limit to what you can achieve with the help of a marketing agency.
Looking For Marketing Wizards to Propel Your Brand? Look No Further Than Advertyzed!
Are you ready to level up your brand’s marketing game? Whether you’re choosing the right digital marketing agency to start your business out or are aiming to amplify your existing presence, Advertyzed is your go-to ally! Picture us as your trusty knights in shining armor, armed with years of digital marketing expertise to take your brand to soaring heights.
What sets us apart? Our round-the-clock support team is like having a dedicated squad right by your side, ready to tackle any urgent changes or requests. We understand the value of responsiveness and scalability, ensuring minimal downtime and maximum impact for your marketing efforts.
Don’t believe our word? There are multiple case studies that you can read to get a hang of results delivered by Advertyzed. The most notable of them being MoneyGram’s viral #CommentaryChallenge campaign where Advertyzed’s collaborative efforts managed to garner maximum engagement and visibility for the brand.
So, why stress when you can let our experts work their magic? Reach out to us today, and let’s make your brand shine like never before!