It’s happened to small businesses all over the country, and even around the world: a big corporation rolls into town sets up shop and before you know it, all the mom-and-pop stores are going out of business. Large corporations have a few advantages over small and medium independent companies, but one of the biggest is the difference in marketing strategy and budget. Small businesses are less likely to spend a lot on marketing, while it’s one of the biggest expenses for nationwide corporations.
Marketing can be a challenge to fit into the business day when you’re only working with a limited number of employees as well. That’s why one of the best ways for small businesses to develop a marketing strategy is for them to outsource it by hiring a marketing agency or firm. Here, we’ll go into more detail on some of the challenges that small businesses face when it comes to developing a marketing campaign, as well as some of the ways a marketing agency can help relieve the burden.
Why is Marketing Hard for Small Businesses?
There are several reasons why small businesses struggle with marketing themselves. Firstly, is a lack of connections in advertising, marketing, print, etc. Second is a lack of internet marketing techniques, as well as general marketing knowledge. According to a Fundera survey, one-fifth of small businesses don’t use internet marketing techniques. The other common struggles include a lack of time and money to invest in a quality marketing strategy.
The simple fact of the 21st century is that without an online marketing strategy, a small business will struggle to market themselves effectively. That same survey by Fundera found that businesses that actively engaged in internet marketing techniques like social media had customers that spent up to 40% more on an average purchase. However, effective marketing is a difficult task, and it’s not always one that you can take on alone. That’s where hiring a marketing agency comes in.
Four Reasons to Hire a Marketing Agency
1. Visibility and Leads
Like we went over earlier, one of the biggest marketing challenges for small businesses is poor visibility and a lack of leads. If you don’t have business marketing experience, looking for leads can seem like an impossible task. Making a name for your small business can be difficult when the market is dominated by larger brands. A marketing company will be able to diversify and optimize your customer base.
2. Long Term Cost
Every business owner knows the cost of adding new employees to the payroll and hiring a marketing company takes the same consideration. There are a few ways that marketing firms set their pricing, and the best and most cost-effective one will depend on your exact needs. Dedicated resource and project contracts are used for specific services like web design and SEO. They usually entail a monthly cost for your own in-house marketing expert. Ad-Hoc pricing is better for smaller projects and involves paying an hourly rate. The last option is fixed-price which is one of the best value-for-money options as it involves a set price for a certain type of assistance every month.
3. Expertise
Most small businesses aren’t marketing experts, and even if you are, you’re only one person and you already have the job of running your company. When you hire a marketing firm, you have access to the best and brightest minds in the marketing industry. While you could hire a single marketer for your company, going with a company will give you more options and flexibility when it comes to getting the most for your money.
4. Record of Success
Opening your own small business is already a risk, so why take another one when it comes to your marketing strategy. A good marketing agency will keep track of their success metrics with previous clients and will have a portfolio of successful campaigns that you can use as a judge of their skills. They will also have employees who are experts in different areas who can support you in all areas of your marketing strategy.
Small business marketing is a task that often needs an expert’s experience and critical eye. Business owners in Tampa, FL can count on Local SEO Tampa Company for help with effective SEO, web design, and all other aspects of internet marketing.