Option 1: Hiring an Agency
Agencies have benefits neither contractors or in-house hires have, including the ability to apply learnings across clients, a deep knowledge and understanding of different industries and their best practices, and team members who are constantly learning from one another. Because agencies are always working in marketing platforms, they understand them very well and have direct access to their representatives, which means they can provide their clients with access to said representatives when needed.
Agencies are generally lower cost overall, offer faster onboarding speed, and are easier to terminate than in-house hires, making them a great choice for mid-market companies that are looking to move quickly.
However, agencies come in many different forms and not all agencies will fit the needs of mid-market organizations. Let’s review the benefits and downsides of large agencies and specialized agencies.
Hiring a Large Marketing Agency
The biggest advantage of hiring a large marketing agency is, in some cases, you may get access to an entire team of experts dedicated to you. This usually translates into the possibility of meeting frequently with several team members. In addition, large marketing agencies are able to invest in several tools that could be too costly to get in-house, so they can provide you with extensive reporting.
Many large agencies have an international presence so if you’re a mid-market company looking to expand in other countries and creating localized SEO or paid strategies, they may be a good choice for you. Large, long-established agencies also benefit from their brand awareness and known expertise, which will come in handy to those trying to convince their team to adopt a new agency.
On the other hand, large agencies come at a high cost. Because they have standardized processes in place, large agencies may also not be as open to new processes or testing. Large agencies can also suffer from a lack of internal flexibility and be unable to customize their solution to the needs of their prospects.
Hiring a large agency is right for your mid-market organization if:
- You want a large team available for frequent meeting time
- You’re looking for extensive reporting capabilities
- You want a team with global reach
Hiring a Specialized Agency
Specialized agencies pride themselves on their deep expertise of niche industries. When working with a specialized agency you’ll get access to subject matter experts with specialized knowledge of your industry and your competitors. This can be particularly helpful for mid-market companies that are looking to expand in a new field or launch a new product.
Specialized agencies also are very agile and can adapt quickly to changes in your strategy or branding. Because their teams are smaller you can get easier access to the decision-makers: for example, it’s not rare for Obility’s president to join a sales assessment call or reach out to clients directly. Lastly, specialized agencies are more cost-effective than large agencies or hiring in-house.
On the cons list, we have to add the risk of losing a team member and its impact on your account. Specialized agencies also don’t usually offer as much meeting time or access to your subject matter expert and may rely more heavily on offline communication.
Hiring a specialized agency is right for your mid-market organization if:
- You want an agile team
- You’re looking for expertise in more niche markets
- You want a cost-effective solution
- You want direct access to the decision-makers
Option 2: Hiring In-House
Now that we’ve reviewed the agency side let’s move on to hiring in-house.
When hiring someone in-house you’ll have access to a team member who is entirely dedicated to you and works exclusively for your business. Having a team member be part of your company also means quicker communication, easier collaboration, and overall better understanding of your company’s internal workings and stakeholder priorities.
However, hiring in-house comes with some downsides: the cost of hiring in-house is much higher than hiring an agency or a contractor since you’ll have to pay for their salary, benefits, training, and tools.
In-house hires also don’t benefit from exposure to different industries and can’t apply learnings from their other clients, which often means they are less specialized than an agency. This could be a hindrance for mid-market companies since they often look for creative ways to target new audiences. Because in-house hires are often the only person in charge of their domain of expertise there is less opportunity for peer learning. In addition, since an in-house hire is a big financial commitment, the recruiting process can be long and time-consuming.
Hiring an in-house person is right for your mid-market organization if:
- You need someone whose time will be solely dedicated to your business
- You want a team member fully integrated with the rest of your team
- You want someone who will have in-depth knowledge of your business and your objectives
Option 3: Hiring a Contractor
The last option is hiring a contractor. The main benefits of working with contractors are the flexibility (contractors offer short-term commitments and can be hired for specific projects or tasks), the cost-efficiency (no long-term expenses like benefits or tools!) and access to people with specialized skills.
However, working with contractors can come with challenges. Often contractors will require significant training to adapt to the company’s best practices, tools, and templates. The quality of contractors’ work can vary greatly depending on the contractor’s experience and reliability and their flexibility can turn into a downside if they get in high demand and are no longer able to work with you. Contractors also share some cons with agencies and will be less integrated to the team than an in-house hire.
In short, hiring a contractor is right for your mid-market organization if:
- You’re very cost-conscious
- You need punctual support
- You’re looking for a very specialized skillset
Hopefully, this breakdown has helped you choose what type of marketing support makes sense for your company. If you’re looking for an agile team with expertise in more niche markets that is also cost-effective, you can book a sales assessment with Obility and meet with our experts!
