So, you are considering what to opt – a demand generation expert or agency?
Congrats. A lot of businesses do not give this question a thought (which is a BIG mistake!)
Look,B2B Demand generation marketing is NOT easy. If it were, every B2B company would be acing it. There are so many strategies to use and as much effort to be put into each of them to ACTUALLY work. As a result, many businesses tend to outsource demand generation or hire an expert (depending on their needs). Frankly, there are pros and cons to both (demand generation expert or agency). According to Gartner, 58% of businesses are increasing marketing spend every year. Meaning, it is important to ensure that you are investing money into a solution (demand generation expert or agency) that works for you. Although, in the end, the right choice between demand generation expert or agency, depends on your business, motivation, priorities, and end goals. In this post, we will go over a few questions you need to ask yourself which will allow you to decide between a demand generation expert or agency. Lets get started
- What is your end goal?
Before you decide between demand generation expert or agency, take out the time to detail your end goals. Ask yourself
- What do you want to achieve in the end?
- What do you want to achieve with demand generation campaigns?
- Who is your target audience?
- If possible, set out realistic ROI expectations as well, etc
1. What is your budget?
Once you understand your demand generation needs, it is easier to create a budget for it. No doubt, the cost is one of the deciding elements. If you notice, you will always ask – What is more cost effective solution? We are not asking to compromise on the quality of services but your marketing solution needs to be cost effective for your business. So, what is more effective – demand generation expert or agency? A lot of depends on your need, again.
Demand generation agency The price depends on your individual project requirements. They generally charge hourly or go by a project rate. Demand generation agencies account for every minute they spend and will provide extensive reports on campaigns Basically, you pay for EXACTLY what you need Considering the agency bears the cost of tools, investments, human resources and others; it is 0 overhead costs for you. You dont have to worry about taxes, payroll, office space, benefits, vacations, nothing! Nada! Demand generation expert Look, recruiting top talent requires a lot of time headhunting and money. It is NOT easy! You will have to bear overhead costs if you are hiring a demand generation expert – competitive salary, benefits etc. Besides this, you will also need to invest in tools, training, workshops etc to keep him/her updated Not only that, employees can be lured away or they can leave your organization. It can happen with agency employees but it wont be your headache But, remember one thing – most often than not, one person cannot handle all your needs and requirements. You will need an entire team of experts if you want to scale your campaigns!
You will need to analyze how much time do you have to be involved in any marketing campaign. Whether you decide to go with demand generation agency or expert, know whether or not you can get involved in it
Demand generation agency or expert?
Well, agencies take the load off of you. They offer end to end solution and will do all the work. You will only be involved in major decision and analysis of campaigns (what is working, why something is not working etc)
In other words, you can concentrate on other important tasks related to running a business.
You will need to take out time to supervise the work. For many businesses, that is equivalent to no peace of mind.
That said, many agencies nowadays want you to be involved as much as possible. It allows them to personalize and target your audience in a better fashion. Still, when compared to experts, this will not take a lot of your time because agencies understand time is money.
3. Niche and expertise of demand generation agency or expert?
Have you heard the saying – riches in the niches?
Meaning, you need to be very clear on your marketing needs before you hire an expert. In either situation, you will need to constantly spend resources on training them on the latest technologies and tactics. On the contrary, agencies have a team of experts. You are not responsible for finding and deciding the strategies even before you have actually tested it out (which is absurd, to begin with) You don’t go to the doctor telling him you have this problem and this solution works. You let the doctor tell you what is the best treatment. Similarly, agencies can tell you exactly what CAN work for you, put in into practice and see if you need a change of strategy. Experts can also recommend the change of strategy but they might not be great at ALL other tactics.
So, what is the conclusion? Still confused between demand generation expert or agency?
Outsourcing it to demand generation agency will give you access to multiple experts that you cannot afford to hire and put them to work on your marketing campaigns. As stated above, you will have ZERO overhead costs.
That said, both demand generation expert or agency is not hands-off. Someone has to manage the third party relationship or coordinate with the expert to ensure that the goals are met.
In either case, do your due diligence and research on multiple agencies and interview experts to find the right fit.
Over to you –
What do you think? What is a great fit for your business – demand generation expert or agency and why?
Vikas Bhatt is the Co-Founder of ONLY B2B, a premium B2B lead generation company that specializes in helping businesses achieve their growth objectives through targeted marketing & sales campaigns. With 10+ years of experience in the industry, Vikas has a deep understanding of the challenges faced by businesses today and has developed a unique approach to lead generation that has helped clients across a range of industries around the globe. As a thought leader in the B2B marketing community, ONLY B2B specializes in demand generation, content syndication, database services and more.