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Digital marketing is one area where your ROI will be better if you don't DIY.
Small business owners often take a hands-on approach to their companies’ marketing efforts, especially when the business is new. However, as you scale, relying on a marketing expert can help you measure and improve your marketing ROI and save you time and energy to focus on running your business.
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Marketing is the lifeblood of operations. It creates brand awareness, communicates your value proposition and generates sales leads. We’ll explore how hiring a marketing expert who is well-versed in digital and traditional marketing can improve your bottom line.
While you should always have the final say on your marketing campaigns and expenditures, it’s best to leave the bulk of your marketing in the hands of a professional. According to Emily Williams, founder of Web Copy Collective, digital marketing is particularly nuanced and challenging and best left to a professional.
“Digital marketing is a time-consuming and expensive skill to learn by trial and error,” Williams cautioned. “There’s a complicated balance of buyer psychology, branding, messaging and relevancy you need to get right. If you’re not a professional, that balance is impossible to get right, and it’ll cost thousands in failed campaigns.”
Consider the following four reasons why hiring a marketing professional may be the best option for your business.
Entrepreneurs are sharp, savvy and typically great at learning new skills. Yes, you absolutely could learn everything you need to know to create a marketing plan and execute effective marketing campaigns.
But let’s be honest: You don’t have time for that. Modern marketing is complex and requires a wide variety of skills and a breadth of knowledge that can take years to acquire. Your business can’t limp along until you’ve learned everything you need to know about digital marketing, email marketing campaigns, social media marketing and more.
As you scale, you must focus your time and energy on activities only you can handle. Marketing is crucial to your business’s long-term success. However, it’s a full-time gig in its own right, and you already have a big job: running your company.
One of the biggest reasons business owners dismiss the idea of hiring a marketing expert is the cost. They figure that because they can write and use social media, they can get along just fine. Unfortunately, that logic often backfires when they spend time on content and money on ads, only to get little to no return on investment.
If money’s tight, consider working with freelancers and independent contractors versus full-time employees. While these individuals may charge higher rates overall, you can hire them for specific projects, and you won’t need to provide benefits. This can be a great option for website copy or consistent blog posts. (We’ll explore more about marketing professional costs below.)
If you’re interested in learning more about marketing, watching an expert at work will be a daily master class. Your marketing professional can teach you tips and tricks your competitors might not know. You’ll be able to learn from an expert quickly and gain insights that would take you years to discover on your own.
Your marketing expert can show you how to:
Reilly Newman, founder and brand strategist at Motif Brands, notes that marketing experts can help business owners understand new insights into industries, markets and even their own companies. “When a company tries to do its own digital marketing, it can be extremely difficult to effectively position and package the offering,” Newman explained. “This is because a marketing expert brings not only their experience but their perspective. This can assist a brand in gaining insight into the market or seeing an obvious gap in the audience to market effectively.”
Small businesses need a social media presence, so every modern marketing strategy must have a social media component. Social media marketing is an excellent way to build engagement, create word-of-mouth brand awareness and tell powerful stories that help sell products. However, it is complex and extremely competitive.
Your potential customers are exposed to a daily onslaught of advertisements and marketing messages. To cut through the noise and get noticed, brands need dedicated, innovative social media managers to create and promote excellent content to improve their social media presence.
A digital marketing expert will possess the analytical and social skills to identify your target audience quickly and better understand your customers’ needs. They’ll effectively use your social channels to get your customers’ attention and prompt them to act. The rest is up to you.
Your costs will vary widely depending on whether you use a marketing agency, hire an in-house marketing professional, or work with a freelance marketer.
According to digital marketing solution provider WebFX, monthly agency marketing costs can vary widely from $51 to $10,000, depending on the services you need (web design, SEO, social media marketing, email marketing, or PPC advertising). For example, larger companies often spend between $4,000 and $7,000 monthly on social media management, but smaller businesses may invest only $1,000 to $3,000. Note that your fees may not include the actual costs of advertising in digital or traditional media.
What you need to spend to achieve a significant ROI will depend on your industry, region, competition and goals.
Here are a few tasks a marketing agency can help with:
The upfront costs of hiring an in-house marketing professional also vary widely. However, according to Glassdoor, full-time digital marketers in the U.S. earn an average salary between $67,000 and $119,000, with potential additional pay (bonuses, etc.) of about $30,000. Regional fluctuations and experience can drive these numbers higher.
Additionally, you’ll need to consider other factors for a true cost assessment:
Chris Ferris, vice president of Pierpont Communications, estimates that to execute a full digital marketing strategy, a company would need to hire an SEO expert, PPC manager, social media writer, graphic designer, data analyst, copywriter, CRM expert, website developer and strategic marketing executive.
“In reality, most companies simply can’t afford to hire all those professionals,” Ferris said. “The benefit of a digital marketing firm is that a good agency will have experts in all the areas a company needs, and they can scale them up or down as the business needs.”
If you own a small business and just want help creating and executing a digital marketing strategy, hiring a freelance marketer may be the best option. According to Upwork, freelance digital marketing professionals cost about $15 to $45 per hour, though someone with extensive experience and a proven track record will cost you more.
Still, starting with a freelance marketer can be a more affordable option than hiring a full-service agency. Freelancers typically offer flexibility, allowing you to scale services up or down based on your needs and budget. While they may charge lower rates, it’s essential to vet their expertise and ensure they can deliver on key areas such as SEO, content creation, social media management, and email marketing.
If you decide to put off hiring a marketing professional, it can hurt your business in the following ways:
If you’re still on the fence about hiring someone to do your marketing, consider this: No one will buy your product or service if they don’t know it exists. Marketing experts know how to get a company noticed and can consistently implement new strategies. It may take a few months to start seeing the results of these strategies, but in the end, it’s an investment that will pay off and allow you to start scaling.