What Happens When You Skimp On Your Marketing Efforts?
During economic challenges, it is the norm for many businesses to cut costs to increase their profits. Marketing expenses are top in the list of costs businesses tend to skimp during tough times. Many forget the fact that profits can only grow higher if you invest in marketing.
Skimping on your marketing efforts exposes the business to costly risks like:
#1 It Reduces the Brands Online Presence
Regular posts keep your brand top of mind for consumers and potential clients. It reminds them of your products and services when they are ready to buy.
#2 The Search Engine Optimization (SEO) Ranking of Your Business Falls.
When the online visibility of your business is reduced, consumers won’t find your business online because it will have a low ranking due to low SEO activation activities.
#3 Businesses Are Likely to Lose Connection with Customers.
Weak connections with current and potential clients negatively affect the brand image and perceived value that the business initially established.
When a business is not able to run its marketing efforts internally, it can consider hiring freelancers or a digital marketing agency.
These are the PROs for hiring a Marketing Freelancer
1. The Costs Are Relatively Lower
Hiring freelancers is relatively cheaper than hiring a full-time employee because you only pay per the hours worked. This is cheaper than the cost of a full-time employee with also needs medical insurance and equipment to work.
2. Companies Can Hire A Specialized Or Generalized Freelancer.
Their expertise in marketing can help take your marketing objectives to success. For example, specializing in social media posts and scheduling can start engagement with potential clients.
3. Freelancers Are Flexible
Freelancers operate on a flexible schedule without sticking to a strict 9-5 schedule. It is therefore easy for them to finish your marketing projects sooner.
4. Freelancers Operate From Their Homes And Can Be Found Worldwide.
This opportunity means you can get a freelancer who can work within your budget from a wide selection of worldwide workers.
Using A Digital Marketing Agency
This is a company that provides services to help businesses grow online. These agencies may offer advertising, social media management, consulting, and analytics as an all-inclusive package. These are the pros of hiring a digital marketing agency:
1. They can offer marketing services in many marketing areas at once.
This can save you from hiring multiple people or creating complicated organizational structures.
2. They Help to Take Advantage of Trends In Marketing.
In the dynamic digital marketing industry, it can be difficult to keep up with all the changes and trends in your industry. An agency will help you use the latest, most effective tools to reach your customers and increase sales.
3. Ability to Keep Track of Your Progress
Getting a digital marketing strategy allows you to trace the progress of your marketing efforts. When the digital marketing agency is accountable, you can expect good results with zero or minimal losses.
4. They Provide Expertise
Companies can make many gains from the large pool of expertise in a digital marketing agency. Digital marketing agencies comprise experts with different specialization which best suits the advertising needs of a business. With a digital marketing strategy, you can be sure of getting the best marketing tools and efforts for your business.
The True Cost of Marketing
Marketing is often seen as an investment that brings back revenue to the company. But what are the actual costs of marketing? Here are the main categories of marketing costs to keep in mind.
1. The Cost to Create Marketing Materials:
This may include creative design fees, copywriting services, photography and videography services, web design, and development for online campaigns.
2. Staff Time:
Marketing staff salaries and staff benefits must also be included. They are responsible for planning the strategy, implementing SEO efforts, content creation/marketing initiatives, and more.
3. Cost of Advertising space/time:
Advertising on social media platforms like Facebook or Google AdWords has a price tag depending on how many people you want your message to reach.
A business must set aside an accurate budget of all expenses associated with marketing and sales activities to value the true marketing costs. This feedback can be used to decide on hiring a digital agency or a marketing freelancer.
In Conclusion, many times, businesses are forced to cut back on expenditures to survive. Unfortunately, marketing budgets are always chopped first. The after-effects of skimping on your marketing efforts can be detrimental to your business growth. Alternatives to lower costs can be hiring a freelancer or a digital marketing agency. The true cost of marketing can help determine if hiring external resources is a viable decision. Marketing should always be on the priority list of running a business for its survival and growth.
Get the best Digital Marketing Agency in Los Angeles behind you TODAY!
DIY marketing is a thoughtful idea but not a very effective one! This is because the most effective digital marketing strategy needs the touch of an experienced digital marketer. It also saves you unnecessary waste of time, effort, and potential losses from trial-and-error work. A highly qualified digital marketer will efficiently carry out the processes of analyzing results, nurturing and retaining leads, and building websites with good SEO and more. As much as DIY digital marketing sounds like a noble idea, we should leave it in the hands of more qualified professionals!
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