As a business grows, so does its marketing needs. Small businesses in a good location or with an established client base may not require much beyond a well-programmed website and small advertisements. However, businesses looking to achieve and sustain growth opportunities typically have an evolving set of marketing needs. Are you making the right marketing management decisions for your business? Here are a few ways to find out:
In-house vs Outsource
Ideally, companies would have their own in-house marketing team. An in-house marketing team enables team to know the ins and outs of your company, the local market, and the specific needs of yor customers.
With a little bit of technological savviness and extra time, the average mom and pop shop could easily handle their own marketing. Certain major companies with large budgets can sustain the cost of having an in-house, multi-person marketing team. They can cover the additional cost of employees – health insurance, benefits, etc. For the rest, it can be a drain on resources, since competent, experienced marketers often come with a significant price tag.
Outsourcing can be an affordable means of obtaining professional services. In this there are many different options:
Freelancers are extremely valuable in situations when you need an extra hand to help. Many freelancers are professional and extremely competent in their field. The cons: they are still a one-man show. If your business eventually grows larger, you will either have to break off an existing business relationship or hire an additional freelancer or agency. Without a dedicated in-house manager, this business arrangement often leads to expensive incompetence and lack of efficiency.
Agencies range in pricing and abilities. Finding the right agency with flexible packages can be a one-stop shop for your marketing needs. Take the time to research agencies that specialize in your industry for optimal results.
This might be the most cost-effective option for companies serious about utilizing marketing in an effort towards business growth. Designating an in-house employee to work with a professional marketing team helps to ensure that someone is always on hand and responsible for an integrated marketing effort.
Partial outsourcing is a flexible model that can expand with your company.
Different factors can come into play within any of the above options.
Substantial, steady growth can leave your company in the lurch with your marketing. When production cannot meet up with the demand, you run the risk of dissatisfied customers and a failing company model. If you are working to grow your business, keep in mind that more demands will grow in addition to revenue intake. Be ready to tackle those issues when they arise to prevent financial failure.
Local Options vs Cost Effectiveness
Local businesses prove to be more than just hired help. They provide a great local connection and opportunity to network within your community. However, with the advent of technology, almost any resource can be obtained with the ease of a local resource. As in all cases, balance the cost of investment with the overall ROI.
Analyze Your Business Needs
Enlisting the help of a trusted business coach or marketing professional can help you to determine whether your current mode of marketing is giving you the success you are looking for. To learn more about maintaining a healthy balance with your marketing, schedule a professional consultation with one of our team members.