You get hit.
But luckily for you, you didn’t get hit by a car. No, you were just struck by something even more dreadful – your next idea for a business. But in the moment, all seems well, with no thought of the difficulties that will arise while building upon the idea. It’s an exciting moment as you increasingly see the opportunities grow for your idea the more that you think about it. “This could be huge!” you whisper to yourself as you continue day dreaming of endless growth, cash flow, and profit. In your moment of idealism, you even imagine people running to buy your product right away without even having to get the word out much. Your business will be online, so Google will bring you all of your customers!
Or does it really work that way?
Unfortunately, most entrepreneurs in the real world won’t have the good fortune of some of those success stories we see on TV. Stories of organic marketing and a steep growth curve are everywhere, but the same success might not match your business. But don’t feel hopeless yet – because there is still hope for your breakthrough idea. And while it may seem expensive, difficult to understand, or even old fashioned (it’s not!), the reality is that this solution is the driving force for a wide range of entrepreneurs in the world.
It’s the marketing agency.
More than simply creating an ad campaign for your company, the reach and value of a good marketing agency is worth it’s weight in gold. Being an entrepreneur to a fresh business is exciting, but it also means that you most likely don’t know the ins and outs of the entire industry you’re situating yourself in. More than that, it’s difficult to gauge whether or not the public will even be willing to buy your product! This is where the marketing agency comes in. From the beginning of your business and on through the scaling process into maturity and stability, partnering with an agency could be the life blood connection between your product and your customers. For this reason, I’ve assembled eight of my top reasons why you should consider partnering with a marketing firm from the very beginning of your entrepreneurial journey.
1. They can tell you whether or not your idea makes sense
It’s always a blow to the ego when someone denounces or belittles our plans, but in the case of a business startup, that kind of talk can be extremely healthy. Before you sink a tremendous amount of capital in an idea, gaining the insight of market research and even the simple opinion of a marketing professional is crucial. The professional marketer has most likely seen dozens of similar products, services, or ideas that either grew in value or remained at zero. What might seem like a great idea to us in our “ah ha!” moment might end up containing too many fatal flaws.
2. They can help you develop a realistic customer acquisition cost
When you first start a business, it can be difficult to set a budget for what your cost to acquire customers will be. And although every entrepreneur dreams of running a business that attracts a line of customers with minimal (or none at all) marketing, the reality is that attracting customers will have a cost. Maybe this cost will be low and you will be able to quickly reach a broad group of people, or maybe you will have to market at a slower pace if the customer acquisition cost is higher. Either way, a professional marketing agency can better help you understand and plan for a realistic cost.
3. They can help you make your products or services a more tailored fit
The product you create might be red-hot and ready to go into a market of people who are willing to pay for it. But what if you made some small tweaks to the product, process, or packaging that made your product desirable to an even larger customer base? The feedback you receive from speaking with a marketing agency early on could help you reach this group. Something as simple as changing the packaging color could lead to such a boost. And let’s be honest – the well trained eye of a professional marketer will most likely be able to spot these areas for improvement more quickly than we can.
4. They can free you up to actually run your business
If the majority of your day involves marketing your business, it’s quite possible that you will find yourself without a business in a short time. What I mean by this is that any time we are too focused on one part of the business, all of the other parts can begin to malfunction through lack of attention. Think of it as an automobile that you own. You religiously attend to changing the oil in this car and, but nothing else. Sooner or later, the tires will go bad and the rest of the vehicle with it. This is why getting your vehicle serviced by a mechanic is so important – it frees you up to focus on other things. And the same is true with business marketing. By hiring a marketing agency, you will have more time to attend to the other moving parts in your venture.
5. They can allow you to more easily scale your marketing efforts
Let’s assume for a moment that you decided to do all of the marketing for your business on your own, without the help of an agency. And let’s go a step further and say that your initial marketing promotion or campaign was a smashing success. The business grows, and now it’s time to scale your marketing. Your task is now to generate a new advertising campaign that will be even larger and more successful than your previous effort. Seems like a daunting task, doesn’t it? But when you work with a marketing agency, they will better understand ways of scaling your marketing efforts to match success – and that is, once again, one less thing that you need to worry about.
6. They can help you network with other businesses to build partnerships
How many clients does the marketing agency you work with have? Each one of these businesses is a potential point of contact if your agency allows for it. Partnering up with a network of businesses for certain events (imagine a 5K run sponsored by a bunch of businesses who share a marketing agency!) can be a tremendous opportunity for increased exposure and publicity. Simply by tapping into a reputable marketing agency, an incredible amount of networking will become available.
7. They’re expensive, but can save you money (no really, they can!)
It’s no surprise that cash is tight when starting most businesses. Unfortunately, this understanding often leads to thinking of a marketing agency as “excess” spending. “Who has the money for that? It would be nice, but I can’t afford it”, we think to ourselves. But the reality of the situation is often quite the opposite. In truth, hiring a marketing agency is something that we can’t afford not to. It may cost us more at the outset, but it is a critical investment in the health and growth of the business. A good agency will help you sell more product to more people while even helping your product offerings become more efficient. Combined together, these benefits will result in a net gain for your business that will leave any concerns of cost far, far away.
8. They can help you become more competitive with current trends
As the entrepreneur behind the idea, there’s a good chance that you have some awareness of what benefits riding a trend would have. As a matter of fact, being aware of a trend might have been the very thing that made you settle on a certain idea. Still, a good marketing agency can skillfully guide your through the constant change in trends and customer tastes. The way you sell your product to a customer may change, the presentation of the product may change, or the features that people want may change. But no matter the reason, an agency will be able to provide market research data that will bring the trends into sharper focus – which might just mean being prepared and ahead of the competition.
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