Hiring a new marketing firm is about weighing the value of the marketing services against the cost, while also considering the intricacies of your unique business. Linden helps you understand the predicted return on investment (ROI) you can expect from marketing and if hiring a marketing firm (or choosing a new marketing firm) makes sense for you and your business.
When reviewing the opportunities and costs of working with a marketing firm, we have some helpful questions to support you through the process:
1.) Why do you need a marketing firm?
The thought and effort that’s put into marketing has a direct influence on the growth of your company. It’s like moving a plant from the basement, to a sun filled kitchen. These initial questions will help pinpoint your position within your growth process.
- Are you overextending employees from departments unrelated to marketing in order to form a marketing team?
- Are you having trouble determining the origin of your leads and how to increase your business’s monthly leads?
- Do you have a solid business, brand, and website already, and you are looking to scale?
2.) What is the best marketing budget for your business?
We see media budgets ranging from a few hundred dollars per month, to hundreds of thousands. To see marketing efforts make an impact, you need a revenue stream that can support your media budget. Ads are most effective when your content resonates with your audience, and you have the media budget to make an online impact in the industry you’re competing in.
- Do you have a budget for marketing that will move the needle? The firm you choose should provide you with estimated forecasts based on your industry. Recommended minimum annual budget at Linden is $18k–20k, plus an additional minimum of $12k if digital ads make sense for your business.
3.) What is your current marketing strategy?
Your data from every minute of the day is useful. There’s nothing we love more than getting our hands on historical data. Even data from failed campaigns can hold valuable insights for future strategies. Knowing what is or isn’t working is a major step in determining what will.
- What marketing do you currently have running?
- Where are you marketing?
- Are you local or national? There are opportunities and costs associated with different geographic targeting, and we’ll help you target the right locations at the right time.
- When are you marketing?
- There is seasonality to nearly all businesses. Seasonality is less dramatic for some businesses than others, but it’s always humming in the background. If you’re a B2B business, do you really want to pay 2x more per click during Black Friday season against B2C companies selling toys and electronics? We’ll help you decide what times of year are best to launch or how to best launch a new business.
- Do you know what your customers need, inside and out?
- Where are your potential customers currently finding their information on services you offer?
4.) Based on the answers to the questions above, is the marketing firm you’re considering a good fit for you and your company?
Don’t forget to look at case studies, success rate, and company culture! You’ll be working with your marketing firm closely, so every interaction you have while you’re shopping around is worth taking into careful consideration. When you think you’ve found the right firm, you’ll feel it.
These questions are a great starting point for any evaluation of a marketing firm. And if you’re considering working with Linden, we’re happy to help walk you through these. To start growing your business, reach out to us today!