Shopping for a new marketing team? Doing your due diligence in how you’ll delegate to your new marketing agency is as important as getting the right fit.
As a business owner, you’re in the business of making money. You understand the sales process takes a lot of moving parts and usually a lot of people, right from reception, through customer service, sales, accounting, and more.
When you hired each person for their role in the company, you hired on the basis of their experience and strengths, knowing that this frees you up to focus on what you do best. This process is very time- and cost-efficient and puts your assets in the right place for best results.
It’s no different when you hire a marketing team. Like your employees, your marketing team will strongly influence the way your business is perceived, which is crucial to every sale and to the company enjoying the benefits of repeat business.
And while it is a considered decision to hire a marketing company, the hand-off to your new team of marketing experts doesn’t have to be daunting.
Here are 3 simple steps to help you prepare your marketing for the transition:
Step 1: List your current marketing projects.This is obvious if you’re planning on giving these projects to an external marketing agency, but even if you’re retaining some in-house, your new agency will want to be aware of them. It will be important for agency creatives to understand the bigger picture around all your marketing initiatives, and, in addition, combining your efforts with theirs will ensure everything flows smoothly.
Step 2: Work with your marketing team to create buyer personas.You know your customers but now your marketing team needs to learn who they are as well, as this will be foundational for all marketing initiatives and campaigns. This process is made easy by creating buyer personas.
Developing these buyer personas goes beyond gathering intel on the typical demographics of age, income, and level of education. While you need to know what the target market’s biggest challenges or pain points are, you also need to delve deeper into other areas such as what kind of job they have, how they learn information about their jobs, what industry their company is in, who they report to, how they use the Internet for product searches, and more.
This is the most efficient way to transfer your company’s customer knowledge and really allow the marketing team to focus their efforts on the things most likely to influence your customers.
Step 3: Don’t set a marketing budget.Wait, what? That’s right. While it may seem prudent and straightforward to set an overall budget for marketing, this isn’t necessarily profitable. What you need to focus on is the value provided by growth.
So what is important here is figuring out how much more revenue you need to get for every dollar invested in marketing to make a profit. For instance, if that’s 3 dollars in revenue for every 1 dollar spent, you should be happy with both a $1000 campaign that returns $3000 and a $100,000 campaign that returns $300,000 soon thereafter.
In reality, you may have to “prime the pump” and focus marketing on longer-term growth instead of these more immediate gains. Either way, this process will help you gauge how much money per month you want to invest. But take note that when you calculate your Marginal Rate of Return (as mentioned above), you are ensuring that your marketing company won’t skip super-high value opportunities that could be outside your budget. Instead, you’ll likely be provided with great returns.
After following these 3 easy, practical steps, you’ll be in great shape to delegate your marketing projects to an expert marketing team. If you’d like to find out how we can help with this process right now or afterwards, simply contact us today for a no-cost, no-pressure consultation.