"You might need to hire a digital marketing agency if you're looking to save money wherever you can," says Lucy Rendler-Kaplan, from Arkay Marketing & PR. Whether you can't afford an in-house team, your budget doesn't allow for multi-skilled new hires, you want cheaper access to tools, or need a more scalable workforce, hiring an agency can help you save money in more ways than one.
In this article, our experts will highlight the various ways that hiring a digital marketing agency can help your company save money.
In-house teams are expensive
"There is always the option to build your own digital marketing team (or even hire one single expert) …" explains Steve Kurniawan, Content Specialist and Growth Strategist at Marketing Unfolded. "However, talents aren't always affordable or they can be very expensive rather than outsourcing to an agency."
Adam Gingery, Digital Strategy Manager at Majux Marketing says, "You might need to hire a digital marketing agency if it would be more expensive to bring talented digital marketers in-house."
Costs make the difference
How exactly would you be saving money with an agency, compared to having your own in-house employees?
Your costs are more than just a salary.
Devon McCrossin, Director of Marketing at Boomtown Internet Group lays out the costs: "When you hire an in-house digital marketing expert, you have to provide them benefits and other incremental costs on top of their salary. When you hire a digital marketing agency, you only pay for the services that they provide."
When you hire an agency, you save money on "payroll taxes, benefits, and overhead," explains Rendler-Kaplan.
For these reasons, McCrossin says, "Agencies are more cost-effective than hiring in-house."
Finding a unicorn candidate can be tough
"Many businesses try to handle their marketing efforts internally, fearful of the cost to hire an outside agency," says Angie Yarbrough, Principal and Co-founder of Stratistry. "However, the cost to hire an in-house marketing professional can be even more substantial."
Why does an in-house hire cost so much?
Finding the right person for the job requires mastery of a variety of skills. "They have to be able to research, develop, write, monitor, and even analyze your marketing plan," says Yarbrough. An outside agency should be able to provide all of these services for a fraction of the cost you would pay for a qualified candidate."
Gingery helps us understand the situation. "Let's say that bringing someone who can actually do SEO, manage an inbound content strategy, and run PPC campaigns only costs you $60,000 per year. That would be an absolute bargain if they are even remotely good at that job. Hiring two $40,000 per year people to split those responsibilities is even more expensive."
"When you put it into perspective, says Gingery, "paying a marketing agency $3,000, $4,000, or even $5,000 per month is a no-brainer! You'll get higher quality work, and that agency has experts in SEO, PPC, and content, respectively." All of your bases will be covered, but it doesn't have to be the task of just one overworked internal employee.
Diversify your budget
What if you need to hire multiple specialists for your in-house team, but your budget can only afford one?
"Sometimes," says Paul Farmer, VP of Marketing at Woodtex, "as much as you might wish, the company's budget simply isn't enough to hire two to three full-time specialist employees, each of whom can tackle a different set of tasks. You might need PPC help, an SEO wizard, a compelling content creator, and a social media star. But, you can only afford the equivalent of one new full-time team member."
When that happens, says Farmer, "That's where digital marketing agencies come into play; because they have everything under one roof, you can diversify what your budget is spent on, while still getting the services of experts."
"If you are looking to save money, there's nothing better than hiring a digital marketing agency," says Veronica Batista, Social Media Manager at OnPoint Internet Marketing. That rings true, especially when you are looking to spend your marketing budget on specific services. Batista adds, "By hiring a digital marketing agency, you only choose what services are right for you…"
So, you can get expert help, with a variety of marketing services, while paying for work, not individual employees' salaries.
Enhance scalability and stability
What happens when you have seasonal marketing needs? "You can also scale up or down your digital marketing seasonally with an agency," says McCrossin. "With an in-house employee, you cannot cut them to part-time after the holiday season is over." He says that this scalability can help you save money in the long-run. It will also help with employee morale and turnover.
Even agencies outsource to save money
Christina Brodzky, Founder of mediasesh says, "You might need to hire a digital marketing agency if there isn't enough budget to hire a full-time specialist."
She explains, "For the majority of our client base, they are other marketing agencies that want to provide SEO support to their clients, but they don't have enough budget to hire a full-time specialist or enough knowledge/experience on the subject. So they outsource their SEO work to us and white label our services. That way they're able to have an expert subject matter on their team and continue to say yes to their clients."
In a world where even digital marketing agencies are taking advantage of outsourced SEO work to save money and benefit their clients, it's no wonder that this strategy can be leveraged by everyday companies.
Bonus benefit — saving time
In this article we mostly talked about how hiring a digital marketing firm can help your company to save money. In another sense, outsourcing to an agency can be a time-saver. Gingery explains, "The added bonus is that you'll save tons of time by not hiring, training, and managing the in-house talent."