What’s A Marketing Agency and Why Does Your Business Need One?
Updated: Mar 20
Marketing agencies can be a great asset to a business. They can help create a website, build effective campaigns, increase awareness about your brand or products, and ultimately generate more revenue for your company. Marketing agencies provide an affordable alternative to hiring an in-house Marketing Department. But not all marketing agencies are created equal.
Some agencies focus only on certain services, others have a broad variety of services. Costs can range greatly from one agency to the next. Understanding the ins and outs of an agency can help you decide if hiring an agency might be solution to your marketing needs.
So What Is a Marketing Agency?
A marketing agency is a type of business that provides professional services related to marketing - this may include advertising, public relations, web design, search engine optimization, digital marketing, etc. They can help you develop your brand by creating an entire branding strategy, determining the right target market, and much more.
Digital marketing agencies are also able to drive traffic to your website through search engine optimization (SEO) techniques, social media, or paid advertising to help you increase the number of customers that you have, which means more revenue for your business.
So Why Does Your Business Need a Marketing Agency?
1. Leveraging Technical Skill
Lets face it - figuring out the most effective way to market your products and services requires technical skill. Most businesseses simply don’t have the time or knowledge to inform the effective marketing strategy.
An agency can function as a consultant and define a strategy for your business, which will provide a valuable roadmap for reaching your target market.
2. Managing Expenses
Another (important) factor to consider is your budget. Most businesses do not have an infinite budget to spend on advertising or on their own trial and error marketing attempts. Agencies provide businesses an informed resource to assure effective campaigns, choosing the right marketing activity or platform, and avoid unnecessary expenses.
Additionally, hiring professional help is way more affordable than hiring employees. Even a single entry level marketing employee could easily cost you over $3,000 per month. This makes marketing agencies a valuable way to grow your business in a budget-conscious way.
3. A Worthy Investment
When you think of your biggest competitors, the truth is that most of the time the thing that makes them your competitor is their marketing! Leveraging the expertise and knowledge of an agency who can provide solutions that align with your goals as a business is an investment that can pay off big time.
Think about marketing as an investment. At the end of the day an effective marketing strategy can pay for itself in revenue - this is known as an ROI (Return on Investment).
For example, if you pay an agency to run paid advertisements for 30 days with a budget of $500 and the campaign results in $800 increase in profit, the ROI, or return on your investment, is $300.
And, while not all marketing activity will have such an immediate impact on profit, a marketing agency understands what activities are necessary to successfully grow your business. Investing in a marketing agency is a worthwhile long term growth strategy.
In conclusion, a marketing agency is an amazing asset that can provide countless benefits for any growing business. These agencies have extensive knowledge in various areas, are affordable, and provide guidance on where to invest your money and efforts to see long term success in your business, helping you find new customers and increase revenue.