As a business owner or CMO, you may be wondering whether it’s better to have an in-house marketing vs agency marketing. There’s no easy answer, but we can give you an honest assessment of the pros and cons of each option.
What is “In-house” marketing
In-house marketing is a marketing strategy where the company hires its own internal team for promoting products and services. This team is typically made up of individuals with roles such as content writer, photographer, graphic designer, web developer, etc.
What is a Marketing Agency
A marketing agency is an external business that helps companies to reach their goals through digital and traditional marketing tactics. Agencies typically offer services such as website design, social media management, content creation, SEO, email campaigns, and more.
Pros and cons of in-house marketing vs a marketing agency
When a company considers its next marketing move, it can be an important question whether to do the work in-house or employ a specialized marketing agency. On the one hand, doing in-house marketing can help you maintain control and operate without external costs. It can also provide the opportunity to save money long-term and pour the budget into other areas that need attention. Yet using a specialized agency comes with its own advantages: they have industry experience, knowledge of the latest trends, and access to resources not available within your business. Marketing agencies are incredibly versatile; from copywriting to analytics, whatever you need support for – there is someone available to help you reach your goals.
Pros and cons of in-house marketing
Pros of in-house marketing
+ Maintain control over the process
+ Tailored marketing strategy to suit your business needs
+ Understands brand extremely well
+ Can be contacted quickly
Cons of in-house marketing
– Talent Management
– Salary and Benefits for each employee (over $100,000 / Year!)
– Cost of Marketing Tools
– Finding the proper marketing tools
– Time consuming, as you must manage all aspects of the project yourself
– Less specialized knowledge or expertise available
– Not cost effective (one employee can cost more than a very thorough agency plan)
Pros and cons of a marketing agency
Pros of a marketing agency
+ Variety of specialized knowledge and expertise available
+ Access to the latest industry trends, tools, and technologies
+ More cost-effective than hiring an in-house team
+ Full team of highly experienced professionals
Cons of a marketing agency
– Lack of control over the process
– Can be difficult to find an agency that truly understands your brand and values
– Potential for slow turnaround times
– Can take longer to contact
Pros of combining in-house marketing and a marketing agency
In house marketing combined with an outside agency could be the answer as it allows: keeping your brand vision front of mind while having access to quality resources and talent.
Some pros are:
+ Combines the best of both in-house and agency expertise
+ Ability to manage certain aspects of the project internally
+ Access to specialized knowledge and tools available from an agency
+ Cost-effective solution, as projects can be divided between internal and external teams
In-house marketing may be a good option for companies that…
- Want tighter controls (this has its down sides as well)
- Are large businesses making more than $1B USD
- Are start-up businesses
In-house marketing may be a great solution for businesses that wants increased control over their messaging. As a company with employees who have an in-depth understanding of the brand and consumer base, they can often be more successful in conveying the brand identity to the world. But remember, while you are holding tight to the messaging, you might be losing out on your reach by not investing in an outside agency. Just a heed of warning.
In house marketing is also a good choice for large businesses with a lot of resources at their disposal. If you hitting multiple billions, chances are, you can afford to hire a team of marketers to do the work just for you. This may not be as cost effective, but it will give you the ability to have greater control of your branding.
As your business is just starting out, you may want to consider investing in one person who can handle multiple roles. This “jack of all trades” so-to-speak would be more than a marketer; they could also double as an office manager for when the budget doesn’t permit working with a marketing agency. Though there are still affordable options available if you look!
Marketing agencies may be a better option for companies that…
- Want to stay on-top of the fast-changing digital landscape
- Have limited internal resources for marketing
- Businesses wanting to have a great marketing team without needing the marketing salary
With the fast-changing landscape of digital media, companies often struggle to keep up with their marketing needs. This is where marketing agencies can be of great help – by providing in-depth analysis and expertise, they can help companies stay ahead of the competition.
Companies that have limited internal resources and need a boost in marketing strategies, branding, publicity and more will benefit from working with marketing agencies. They provide customised solutions that take into account changing customer trends, as well as budgetary and feedback considerations. By utilising the experience of professional marketers and designers, companies are sure to increase their exposure to target audiences. In addition to helping achieve business goals in a shorter timeframe, these agencies are capable of delivering long-term results with consistent campaigns across different platforms.
And let’s not forget the business that is looking for great marketing, but doesn’t have millions to dump into a marketing team. This is where a marketing agency can really excell. This is because, at a marketing agency, you are getting people who are experienced in each aspect of marketing, such as:
- Website Design
- Website Development
- Digital Ads
- Social Media Marketing
By hiring an agency, you effectively get an entire team for the cost of what might be less than 1 employee!
Ultimately, the decision comes down to…
+ The size of the company
+ Resources available internally
+ Business goals and objectives
+ Budgetary considerations
In the epic battle of in-house marketing vs agency marketing, the winner is… Well, it depends…
It all truly does depend on your business and where you stand. It may seem like a marketing agency would be the better option for your company. And there are many situations where an in-house team may make more sense. It really comes down to taking a close look at your company’s needs and capabilities and then making a decision based on what you believe will be the best use of your resources. Whatever route you decide to go, remember that the most important thing is to put together a cohesive and effective marketing strategy that helps you achieve your business goals.