Posts filed under ‘Tips from Marketing Experts’
Hiring a marketing company to save you money, seems contradictory but consider this: most businesses trending towards, or already at $1 million in annual revenue, are losing money by not working with an agency partner. How? By hiring one person designated to “marketing”. This one person time and time again gets overloaded with all the bits and pieces of corporate marketing. Everything from website updates to business cards to somehow trying to generate new business. There is no realistic way to accomplish a proper marketing plan with one person – unless you want them to burn out.
We look at it like this: in Company X they have one full-time staff member who does marketing. This person gets overloaded with work and others–usually Sr. Managers or even Exec’s–need to do some of the leftover work. Now, how much is each person’s time worth? The marketing person is paid a salary but they have too much work so other people are spending time in their day helping out. Let’s say 10% of the day from 2 other managers is also used up for “marketing”. That’s one full-time salary plus 20% of management’s salary dedicated to marketing. That adds up to one full day of management time lost to “marketing” each week. What is it worth to have your managers doing what they do best and not trying to spread too thin? In most businesses, it’s worth a lot.
Here’s a look at the numbers:
Let’s say in Company X the marketing person makes $65,000/yr and the managers make $100,000. That means that annually Company X is spending $65,000 on marketing PLUS an extra $20,000 from the managers. So in real terms, there’s a marketing budget of $85,000 that Company X is paying out. And for this fee they still carry all of the overhead: source deductions, vacation pay, computer equipment, benefits… you get the idea. Is there a better way to use that $85k/year – yes. Not only does an agency partner give you access to all ranges of experts (designers, programmers, copywriters, SEO specialists) but you get real “experts”. No single person does it all.
What does it mean for businesses:
Hiring Erickson Group offers you the best of all worlds. You get to use your marketing budget much more efficiently. Your full-time staff remain focused on what they do best while your business gets access to specialized experts which makes for a better product. You get the write-off expense instead of added overhead. If you are a company operating under the antiquated ideal that marketing must be done in-house I invite you to call our office and let’s chat about how we can help. Often times there is still an internal “marketing” person but now their focus is streamlined and simplified and they coordinate with our group directly. It’s a beautiful system and our clients are seeing benefits in all industries.
If you’re ready for a change that will elevate your brand, reduce your overhead and alleviate stress – it’s time for a chat.