Should Your Nutraceuticals Business Hire a Marketing Agency or Build a Marketing Team?
Which marketing plan works best for nutraceuticals: a nutraceuticals marketing agency or an in-house marketing team? Here are four important factors to consider.
As most nutraceutical manufacturers know by now, the world does not live in the ’80s, where a web page was a “nice to have” and CRM was for “huge multinationals”.Your customers now have a plethora of information and competition is fierce, waiting to grab your customers at the moment you displease them.
While many manufacturers we know are used to assign random people with no inherent knowledge of marketing to relevant positions i.e. we recently saw a graphic designer be in charge of “marketing”, there will come a time when it makes sense to pass marketing roles on to the experts. That is unless you want your competition to eat you for breakfast. Doing so is vital for making sure that your nutraceutical manufacturing business continues to develop new customers, build its brand, and stay competitive in its industry.
For many nutraceutical business owners, the realization that they need to work with marketing professionals leads to questions of whether to turn to a marketing agency or hire an in-house marketing team. I have news for you. There is no right answer to this question, as it depends on the business’s resources and needs. That said, there are a few issues that, as a leader, you should consider when determining whether to hire a marketing agency or to develop an in-house team. Here are a few key factors to think about:
What type of expertise do you want?
Let’s start with the in-house professional. Most of the times, and IF you have done the right qualification and this person knows what he is doing, an in-house marketing professional gets to know your business – in time, especially if he comes from another industry. Slowly but surely, this person or your team of people will learn the ropes of your nutraceutical manufacturing business and be able to propose specific strategies. The best part is that – if compensation is good – they will spend their days working in your business so you will be investing in an asset over time – until it leaves you.
In contrast, when working with a marketing agency, you’ll get access to an entire team of marketing professionals with an array of expertise, unless they are fully specialised in the nutraceuticals industry. If they are specialised and not a generic agency, then chances are you will get above and beyond the level of knowledge that is required to run marketing campaigns and the investment in your business will prove to be 10 to 1 – that is for every dollar you spend you will get 10 back – and this is what everyone wants.
With a specialised marketing agency for nutraceuticals, you will get a team on the cutting-edge of the industry with a variety of applicable skill sets that no in-house team can outperform, simply because you can’t have two or more specialists on every aspect of the marketing campaigns you run – that is a strategist, a paid acquisition expert, and email marketing expert, a copywriting expert and so on. In addition, you’ll get a fresh perspective and a new look at what your business is doing. Finally, marketing agencies have the benefit of constantly testing what works and what doesn’t in a variety of similar businesses and bring on the expertise that is unparallel to your business.
In-house marketing professionals and marketing agencies both bring unique areas of expertise. When seeking out help for your marketing, it is important to weigh in the types of expertise you need and make an educated choice. Always conduct interviews and take advantage of free Strategy Sessions, like this one here.
What Budget Do You Need?
At the end of the day, it all comes down to money and costs (and revenue, of course). It’s generally way more expensive to hire your own marketing professional than it is to work with a marketing agency. When hiring a marketing employee its not just their salary that you have to accommodate, but also all of the additional expenses that come with hiring quality employees such as paying a recruiter fee, payroll taxes, pensions, benefits, training and sick days.
As a result, while you might think the salary of one employee is equivalent to the retainer for a marketing agency, in reality, a marketing agency – when it organised and effective – is less expensive than having in-house marketing experts. With a specialised agency that works only with nutraceuticals and supplements, your outsourced marketing “department” never closes on holidays or the weekends, and you are not dependant on one employee who might take a day off – simply because another one will take his place and continue the work – so your competitors will think that you have a team of 32 people working day and night. An agency never takes time off, have sick days or requests benefits.
Time To Market
Have you ever considered the time it takes for a one or two-person team to market your new nutraceutical offering? More times than often, nutraceutical manufacturers find themselves pressured to develop a marketing strategy for the “hot new immune supplement”. Market conditions like stale growth, competitors gaining more market share, or new products are not taking off as anticipated.
In these situations, your nutraceutical manufacturing business needs immediate action and you should consider hiring a specialised market agency that works in your industry – not a generic one.
A marketing agency with expertise and focus on nutraceuticals can jump in immediately and quickly develop a marketing strategy for the rapid market and product growth. By the time you find an in-house marketing expert, interview, train him and bring him up to speed, the agency has already developed and launched your campaign.
How Will You Communicate?
Lastly, what sort of communication is comfortable of having with your marketing team? When having someone in-house means that you are working side-by-side, communicate frequently by just dropping by their desk and having regular updates.
This, until COVID-19, happened.
Today, more and more nutraceutical manufacturing businesses come to terms with the new reality – that is working from home. Technology really did some heaps and bounds lately to bring closer remote-working teams – you now have video calls using Skype or Zoom, shared dashboards with real-time collaboration and live feedback.
Working with a nutraceutical marketing agency is no different, and in fact, it’s better – as you will not have to invest in any new technology, get training, and waste time between various software support teams to “figure out how this works”.
The agency has already paid, trained all their employees and wastes no time.
Working with marketing professionals to develop an effective nutraceuticals marketing strategy is an important part of sustaining and growing your nutraceutical manufacturing business. While marketing is something that most business owners or team leaders do on their own at the beginning, do not forget that today’s marketing landscape is mayhem for the uninitiated; it’s a consuming job that at some point will need to be delegated to maximize results and to effectively grow your nutraceutical manufacturing business.
Marketing is never something you do once and it’s done. It is a constant struggle to dominate your competition and the market. When you do not pay attention, you do not make the effort, someone else will and you will lose clients. . With that in mind, it’s important to turn to marketing professionals who are fully dedicated to growing nutraceutical manufacturing businesses like yours. Determining whether to work with a fully-specialised nutraceuticals marketing agency or to build your own in-house marketing team can be tricky, and it totally depends on your business goals, your end-outcomes and your budget. Weighing the right factors will enable your nutraceutical manufacturing business to make the right choice and to dominate the market with the right team in place.