Many RIAs (and investment companies) have had this debate: should we hire a marketing agency, or bring on a marketing employee (or employees) internally, or for smaller and start-up firms, should we just do the marketing ourselves?
So what can a marketing agency can do for you?
1. You Get Specific Marketing Expertise
Many marketing agencies are specialists. Some have specific expertise in one or two industries – oil and gas, for example, or healthcare, or industrials. What this means is that you don’t have to train your marketing agency on your industry, on competitors, trends, and best practices.
The opposite should be true – your agency should help you discover and implement what works and what fails. This can be difficult to find in an internal marketer. (InCapital Marketing focuses solely on inbound marketing for the financial services industry.)
2. You Get to Focus on What You Do Well
What’s your opportunity cost? Sure, you may be able, on your own, to create your firm’s website, write all the blog posts, create a series of eBooks, build the pitch book, prepare and distribute email marketing campaigns, design the landing pages and calls to action, do the design, testing, and analyze the results. Or…you can focus on what you do well.
3. You May Get More From Your Budget
When you look to hire a marketing staff, where do you start? One person may not be enough to do a through strategic and tactical job. You may need a writer, an editor, a graphic designer, a web designer, an inbound marketing specialist, and a social media expert. Can one person do it all? If you hire a marketing agency, you can still get the benefits of all that experience and all those skills – for about the cost of one employee. Or less.
4. You Get a Third Party Perspective
How are your marketing efforts contributing to website traffic, lead generation, and asset raise? Many firms cannot answer those questions. If that’s your situation, let a marketing agency answer them. A marketing agency should provide your team an unbiased perspective on your marketing.
5. You May Raise More Capital or Assets Under Management
What’s one of the greatest potential benefits of having an outsourced marketing agency? They come prepared and ready to go. They’re equipped with the skills and staff to develop a strategic plan for your company.
You May Need a Marketing Agency If:
Your assets under management plateaued or declined
You have employees without specific marketing expertise
You are not getting enough qualified leads
Your marketing team makes decisions on hunches rather than analytics
If you don’t know what you don’t know, and that’s most of us, consider bringing on a marketing agency to help boost your profile, brand, leads, and sales.