Saving 50% on your Marketing Spend by 1099’ing
Marketing teams in 2018 are starting to look much different than they did just a few years ago, due to saving to 50% on their Marketing Spend by 1099’ing. Not too long ago, most mid to large-sized businesses had bustling marketing teams. Now those same cubicles are collecting dust. Why? Because companies have realized the value in marketing outsourcing.
According to a recent LinkedIn survey, 75% of mid-size businesses today outsource at least some portion of their marketing function. In our constant state of economic challenge, it stands to reason. You can tap into the resources you need when you need them without paying full-time employees’ salaries, vacations, bonuses, medical insurance and so on.
The 1099 marketing trend definitely has its advantages. When you hire the right marketing communications agency, you’ll have access to specialized resources, extra bandwidth, years of best practices, senior talent for strategy setting and less expensive junior resources for the more mundane task execution.
Fractional Resources you Should Consider Outsourcing
Marketing communications/PR agencies these days offer a breadth of services to augment your own skill gaps, primarily in the following areas:
- Campaign strategy
- Content marketing
- Search engine optimization/marketing
- Crisis communications
- Marketing tools & technologies
- Creative development
- Brand positioning/key messaging
A superstar VP of Marketing and a few marketing communications managers today could potentially deliver on all of these areas on their own, but it is pretty unlikely they would collectively have all of the necessary expertise and resources. What’s more, when you consider their full compensation packages, these four individuals will cost upwards of $550,000-750,000 annually. Divide even the lower number by 12 and you come up with $45,000+ a month. For half that amount, you can easily procure a very capable agency who can cover all of these functions and more, and you’ll have access to professionals who specialize in each area.
$20,000 a month is a pretty healthy budget for a mid-sized marketing communications agency. For that amount you would be one of the largest clients and most certainly one of the most coddled, while saving significantly.
By: Kevin Levi
Featured Image: Andy Warhol Painting