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Digital Marketing Agency vs. In-House Team: Weighing the Cost?
There is a widespread misconception about the cost of outsourcing to a digital marketing agency and hiring an in-house team. Most people think that the latter is more affordable than the former.
But this is not always the case, as the amount you pay mainly depends on the agency you choose and the scope of your marketing goals.
On the other hand, running an internal marketing team comes with several hidden costs.
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Internal Team Cost Breakdown
To better assess the costs of these two options, it is necessary to add the expenses involved in the separate areas involved in the internal marketing teams.
Contract Cost
You should start by budgeting for the cost of job postings that will help you find the right candidate.
At this stage of the hiring process, other expenses could also include hiring specialists, networking events, and many more.
Training and Onboarding
As much as you want each employee to start working, your internal marketing team will adjust to the company culture, but this usually takes some time.
Additionally, they must prepare for new responsibilities before reaching their full potential.
Salaries
A large part of the internal cost comes from employee salaries. You will have to be willing to pay a premium if you want to have the best marketers on your team, because the more experience, the higher the salary.
Software and Equipment
Consider the cost of the office tools, software, and other marketing services your team will need to do its best work, items like HR, communication, and analytics tools.
Retention
Choosing the wrong candidate can be a major setback for your business. In the worst case, the wrong employee can delay your marketing goals or tarnish your brand. These issues aside, the time and money invested in this hiring have gone down the drain.
Legal
Having employees also means having legal consequences. You will have to release some team members after the trial period, and this could turn into a legal situation.
Digital Marketing Agency Cost Breakdown
Having considered the cost of an in-house marketing team, here are some of the pricing models and factors that influence pricing, even for small marketing businesses.
- Hourly - Pays hourly charges for services rendered.
- Monthly - The agency charges a monthly fee, usually between $ 2,500 and $ 12,000.
- Project-Based - You pay a flat fee for each project delivered, typically $ 1,000 to $ 7,500 per project.
The factors that affect prices are:
- Size of the company
- Agency experience
- Strategy complexity
- Scope of services
- Your company's goal timeline
Verdict: Which One Is Right For Your Business?
Everyone agrees that employees are the most valuable assets of any company. But these two resources - money and time - are rarely plentiful in the business world.
Therefore, when money and time are on your side, you should opt for a well-trained and experienced in-house marketing team rather than an agency.
This is especially true for start-ups where money and time are always limited. As such, even late-stage startups and established businesses find that outsourcing their marketing to a team of digital marketing partners fills the skills gaps that are lacking in the business.
One Last Tip - Suppose you have any doubts about the execution of your marketing strategy, contact an agency that will guarantee results.
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