You want it all for nothing? Glad you still have dreams.
Do you understand what marketing strategists, social media experts, PPC experts, SEO experts, website development companies, Analytics experts, copy writing experts, strategy and planning gurus INDIVIDUALLY earn on their own? And you want one company do this ALL for you at 1/6 the cost.
Do you understand the cost to your company to employ 6 of these experts? Let’s think on this for a moment… At least $70,000 a year + benefits. For 6 experts. What is that to your company, assuming benefits are about 30% of the salary? $420K * 1.30 …..so about $546,000 total. And you want to hire 1 or 2 companies for less than $100,000 a year each to do all 6 jobs? And you are actually struggling with this math? OK.
Let’s be clear. That is $420,000 a year, plus benefits. To handle (1) organic search marketing; (2) PPC marketing; (3) social marketing (4) marketing planning & strategy; (5) PR marketing/content writing; (6) Mobile marketing/web development … and YOU want to hire a company, ONE company, to provide all of this for less than $5,000 a month? Or maybe 2 companies for less than $10K per month. When you would have to hire 6 people at $45,500/month (including benefits)? Do that math yourself on paper. Does it seem realistic?
Do you begin to understand you are saving money when you hire outside experts?
You need to reassess your business reality.
I have been in the business of marketing and advertising for over 20 years. And it still amazes me when a company thinks they can “do in house” with mediocre skills what an expert can do. What a professional can do often outweighs the results of the daughter of the uncle of the owner you hire at $15/hr. There is a reason you hire professionals. Because professionals, who cannot hide the math with Analytics, EARN you money and don’t waste it.
Numbers do not lie. You are either profitable or you aren’t. No excuses. Put the code in place and measure it. Outside experts make you money or they don’t. It’s pretty easy.
So stop “doing in house”. Stop asking the person who already wears 5 hats INTERNALLY to do more and more and more, for a 2% wage increase ever year when you could HIRE a professional for LESS money per YEAR to produce 300% better than they could. Are you a smart business owner or “I could care less business owner?” Do you want 2x ROI or do you want 10x ROI? I know which I’d chose.
Stop being obtuse. Start thinking like a business owner. Stop expecting your Grande Mocha Latte with 1 sugar, milk, extra whipped cream for the price of $1.00 cup of coffee.
If you are a business owner trying to compete and succeed, then you have to ask yourself these questions:
- If I hired 1 person full-time to do PPC for me what would it cost? The answer is about $60K per year, on AVERAGE. And you are giving the PPC company who wants to charge you $24K per year a hard time? Think again.
- If I hired 3 full-time people to do PPC, SEO, and Social per year at $50K each, that’s $150,000 a year, and the company I am talking to wants to charge me $60K per year, YES, let’s do it in house with people who know less!
- I am making 3x on my “in house person” opposed to the 10x I was making with my management person, but it’s equal, right? NO!
Start being a smart business person. And NO, not all ‘outsourced’ companies are created equal. Do your homework. Do competitive research. You WILL find that hiring a reputable, honest company will MAKE YOU MONEY as opposed to giving another hat to a person inside who is already stretched thin. Be the business owner who thinks forward – not backward.
ROI is based on spending money to make money. Spend it wisely.