Do-It-Yourself Marketing or Hire an Agency?
If you are an entrepreneur, you are an innovator and risk-taker. You enjoy the time freedom that comes with being your own boss and the adrenaline rush of creating something out of nothing. If you are like most entrepreneurs, you are starting with a small budget or start-up loan. You have to decide how to allocate these precious funds to stretch the furthest and generate the most income quickly.
Two line items that are indispensable to a new business are branding and marketing. Branding is your message. It tells the world who you are and what you offer. Marketing is the loudspeaker for your message, the avenues of communication to get the word out. You need both to be successful. In the beginning, you will need to weigh whether you can accomplish your own branding and marketing or you need to outsource to experts.
So how do you know whether you should do-it-yourself or outsource your marketing? Here are some pointers to help you decide.
Do-It-Yourself when …
1. You don’t have a marketing budget. If the money isn’t there, it isn’t there. Sometimes, you make do with less than professional marketing to just get started and begin generating income. If this is you, don’t get discouraged. Just start with what you have. You can always circle back around to a professional marketing package once you’re business is off the ground.
2. You naturally have an eye for design and a sense of marketing language. Some people are naturals when it comes to knowing what looks good and what language sells. If you’ve always had a knack for design or enjoy writing, you may be able to do your own marketing with help from today’s modern AI tools.
3. You have time to learn marketing. Some people make their entrepreneurial journey a learning experience in which they gain new skills. If you have time, you can learn marketing concepts such as branding, the psychology of client attraction, and website building.
4. When your main customer is your mom. If your target customers are friends and family, you don’t need an expensive logo and a top-notch website. Your network is going to give you business because they know, trust, and support you. If your business is staying close to home, save your dollars on expensive marketing.
Hire an Agency when …
1. You have a marketing budget. If you have the money, then let professionals take your business to the next level. A strong brand, strategic marketing assets, and a modern website can go a long way to attracting your target clientele and growing your business.
2. Your skills lie elsewhere rather than in design and marketing. Being an entrepreneur doesn’t mean you have to be a jack of all trades. You’re an expert in your industry and you absolutely don’t have to be an expert marketer to be successful. You can outsource this expertise.
3. You don’t have time to do your own marketing. Using my story as an example, I could have spent hours trying to learn how to fill out my own quarterly taxes and maybe saved some money, but, end of the day, I didn’t want to learn and I wanted to spend my time doing what I was good at.
4. You’re business is competing in the public sector. A strong brand and marketing presence keeps pace with your competitors. Marketing experts know the psychology of attracting the right audience to your business through your brand.