According to a recent study by WordStream, 79% of companies are using SEO as part in their 2019 online marketing agenda.
To dig even further, a series of data was collected by WordStream, after polling hundreds of their clients. Looking at the first set of numbers, 39% mentioned that having a limited budget was the biggest roadblock in growing their business, while 40% was due to a limited amount of time. Sounds familiar, right?
Remember the old saying, “you have to spend money to make money?” Well, when it comes to marketing, especially digital marketing, this saying plays true. There is little room for a company to grow without spending. Some might even say, there is no way. Don’t believe it? Try putting up a lemonade stand without purchasing lemon, sugar, water and cups.
For the advanced thinker…imagine a hypothetical pull-through ratio. If you are an attorney, or even a doctor, and you make, let’s say…$200,000 a year. If you are spending $1,500 a month on marketing, and you land just one client… that investment can pay for itself in one patient/one case. If it doesn’t happen right away, in the first few months… and takes several months to obtain the one client, it still pays for itself – and more.
The sad truth about digital marketing.
There are companies out there that truly think they can grow without spending. The notion of taking your company to new heights without putting in the money [or time] is almost impossible to achieve. On average a company should be spending at least 10% of their gross annual earnings towards their marketing budget.
Should I outsource my digital marketing?
Think of digital marketing, not only as “Google search marketing,” but also social media marketing. There are of course, different platforms within social media marketing that ultimately help boost business. From Instagram to Facebook, Twitter to Youtube, Pinterest to Snapchat, these platforms [when used properly], can help skyrocket a business to success.
Social Media worlds, such as Instagram, started as a place to share photos and updates with unique filters. These heavy hitter social media platforms have really transformed over time. With new placements such as “Stories” and even “Shopping,” a small business can go from zero to hero within a matter of one year. Is it easy? No. But with enough hashtag research and diving deep into its respective analytics, these platforms can truly help bring a business to new heights.
The question now is whether your business should do the work in-house… or outsource? Hire one employee that
“does it all,” or look for an experienced team that has a proven track record.
According to WordStream, when asked what the main reason was to outsource to a third party, 56% voted they did so because the company had better expertise, while 31% said it was for time savings purpose. At the end of the day, it is important to make a decision that fits within the budget and potential growth of the company; there are many variables to look at.
So there are two components you should ask yourself before really committing to either a new marketing plan or a revised one. 1) Should I spend more in SEO, and 2) Should I hire someone on and burn them out or hire an experienced team for the same price?
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