Every brand is different, and every company’s approach to marketing is different too. Some companies prefer to do everything in-house, believing that only their team has the capabilities to know the company’s needs, goals, and challenges best. However, it’s important to consider the unique benefits of partnering with a digital marketing agency. In fact, many companies prioritizing growth find that outsourcing talent from an agency or marketing firm is the most viable option.
At VELOX Media, we love seeing our clients win. That is why we continue to raise the bar in offering high-touch services. Working with VELOX Media is a different experience than working with any other digital marketing agency because of our diverse talent, impeccable track record, and desire to learn your brand’s goals and challenges closely.
Even so, once they grow to a certain level, many brands make the decision to hire an in-house digital marketing team. It’s not a decision to take lightly, as it can determine the future success of your company, and it’s important to consider both cost and labor.
If you decide to go the in-house route, you’ll need to build a team of digital marketers to work full-time, 8 hours a day, 5 days a week. You’ll need an executive to supervisor and monitor this new team too, and they’ll need to be adequately paid.
The average cost of a full-service marketing department is upwards of $84k a month, or just over $1 million a year. In addition to the salary you’ll pay everyone, from your Social Media Manager to the Director of Marketing, you’ll also need to cover the costs of employee benefits, yearly bonuses, health insurance, and more.
Even if you’re okay with the cost, finding and hiring digital marketing talent to fill your new department isn’t easy. In fact, 46% of companies report they struggle to find the right combination of people and skills in the job market. Let’s go a step further and assume you are among the lucky companies and have a full team hired and working—what if someone quits? You’re back to the hiring board, and it could cost as much as 33% of an employee’s salary just to find the right replacement, not to mention an average of 27 working days. That’s valuable time your organization could have spent on new revenue opportunities.
As you can see, launching a new in-house marketing department, no matter how good the intentions, can be expensive and time-consuming even when everything else goes well.
The right marketing agency can provide the attention and detailed approach of an in-house team with additional expertise and guaranteed results, typically at a better price too. For example, VELOX Media offers a variety of digital marketing services ranging from high-quality content creation to social media campaign management with a vetted professional team of marketing experts.
Plus, an agency’s team will have more confidence, creativity, and knowledge of the ever-changing digital marketing landscape. In fact, 85% of agency clients reported that their agencies effectively identify the latest trends, and 63% consider digital agencies as “leaders.”
Let’s talk numbers: How much does digital marketing cost in 2021? The average for small to mid-sized businesses can range from $2500 – $20,000+ per month depending on the services offered. That means that even if your SEO + SEM strategy costs $30k a month, you’re still saving $54k a month and $648k over the course of a year when compared to the costs of an in-house department.
When you partner with VELOX Media, you’re essentially gaining access to a team of digital marketing professionals dedicated to their roles, the industry, and your brand’s goals.
It can take up to 25 people working in-house to do what VELOX can accomplish for over half the cost.
With 2020 seeing online shopping grow exponentially, it’s no surprise more and more businesses are looking to partner with industry experts from a leading marketing agency. If you want to scale your brand and increase ROI, VELOX Media can build a custom plan for your business. As the only agency that accurately forecasts revenue growth, we can help you uncover missing ROI and gain insights for your brand. Talk to an expert today for a complimentary site audit.