As a startup, limited resources mean that all spending has to be smart and justified. Therefore, it can be difficult to know when to spend, and when to be more reserved with your budget. For example, do you have the resources to hire a marketing company?
As a result, startups can be hesitant to spend on marketing. Ultimately, the priority is the product, and that is understandable.
However, without marketing, you will struggle to make impactful sales of your product. No sales means no revenue. You need some form of marketing to grow your business, and continue making developments.
Your growth period, no matter your stage, can be stunted without effective marketing. So, you need to market your product, but it’s important to consider which sourcing strategy is right for you.
Free Marketing Audit
Typically, the two options when looking to market your business are to either hire in-house, or outsource to an agency.
Consider whether you have the available resources to hire in-house teams. In this case, resources refers to time and money.
As a startup, chances are you have a very strict budget, and hiring your own team can be costly and time-consuming.
Not only do you need to consider salaries, but new hires require onboarding and training. They will also need time to settle into the team and their role.
Not to mention the time it takes to find a good employee. Once you have made the hire, they cannot get started on your marketing straight away.
Also, bear in mind that you would need to hire a whole team, to meet the expertise of a marketing company.
Marketing agencies can get started almost immediately. They have experienced employees already on board, and ready to get started on your project. They handle the demand that comes with managing a workforce, so that you don’t have to.
Your startup can focus on its growth, and the development of your solution. The marketing company handles the costs of hiring and retaining employees, and can offer as many as your solution needs.
Provided you pick the right agency, they will have extensive experience within your market. This is harder to achieve with in-house teams.
Typically, marketing agencies have collaborated with many different companies within your space. They know what is missing in the market, and how best to position your company to generate interest.
Knowing your competition is important, and your agency should be able to guide you as a startup.
Your marketing company should use their existing knowledge of the market to create your value proposition, and persona. They will know the ideal messaging for your content, and who that content is targeted towards. The right combination will attract leads.
They will also be experts in marketing best practices, especially within your industry. With in-house teams, this knowledge might require training.
It is also important to note that with market experience, come connections. Your agency should have existing contacts in your industry, that could benefit from your solution. Content and paid ads aren’t all they have to offer.
As a startup, experience is valuable. Take advantage of what a marketing company can offer in terms of lead generation and expertise.
Depending on your stage, hiring a team full of people may not be achievable within your company. However, successful marketing requires a range of talents and skills. It’s unlikely that you will find this vast expertise in a team of one or two.
In marketing, you need a talented selection of the following:
- Content Writers
- Web Designers
- Video Editors
- Graphic Designers
- Keyword Specialists
- Google Analytics
- And more
ach of these roles is key to creating a cohesive marketing strategy, that includes inbound, outbound and paid ads. Teams like this are hard to build. It is extremely time-consuming, and salaries are costly.
Marketing agencies have access to a wider talent pool, with connections in the marketing industry. Typically, they will be able to hire and retain a larger number of staff. This talent is available to you, without the difficulties of sourcing the expertise in-house.
One of the primary perks of marketing agencies for startups is that they can grow with you. They are scalable, to suit your needs.
You have the freedom to hire the agency when you need them, without the concerns about slow growth.
Hiring in-house teams presents challenges when performance isn’t as expected. Regardless of how your business or solution has performed, salaries still need to be paid. Payroll is always a necessary cost of running a business.
Marketing agencies can offer a number of workers to suit your needs, at any given time. It is natural for your company to fluctuate, especially as a startup. Avoid hiring and firing, and a high staff turnover, by partnering with a marketing company.
The right marketing agency will support your company, and collaborate with you to boost your growth.
When considering a contract, ensure that both of your company goals align. You should have similar priorities, and look to achieve the same thing. Search for a company with experience in your market. Both you and your marketing company should be looking to grow together, within the same field.
Ideally, a marketing company will aim to succeed for you, as a measure of their success. Together, you will generate leads and conversions for your solution.
It’s important to avoid hiring an agency that doesn’t fit with your company ethos or values. This is more likely to be damaging to both parties.
Focus on building a positive relationship with your marketing agency, to make real growth.
At Nituno, we partner with B2B tech companies to build partnerships for mutual success. We offer inbound, outbound and paid ad marketing techniques to drive sales for your startup business. Contact us today.