The True Cost of DIY Marketing
January 08, 2015
As a business owner, you are likely quite savvy and are fairly familiar with the concept of marketing. We find that realtors and attorneys are particularly comfortable with the basics of marketing, including drafting mailers and emails for potential clients. Business owners often opt for creating their own marketing pieces in an effort to save money. However, the question we propose, is how much money is really being saved by doing your own marketing?
When evaluating the cost of creating your own marketing pieces, there are a few things that should be taken in consideration. This includes the value of your time, the cost of trial and error, and learning curves. We’ll go into further detail:
- The value of your time: What exactly is your hour worth? You’re a business owner, so you probably don’t have an exact price on your hour, especially if you’re business is just at the beginning stages, there’s a probability that your take-home salary is peanuts when compared to the amount of work you put in. The best approach is to think of your time as an investment, how can you make the best use of your hour? Meaning, you can accomplish more by focusing your skills on your company, product, and services, than you would by marketing yourself.
- Trial and error: This is a key part to marketing. There isn’t any particular set of rules that will work for every business. By using an experienced marketing agency you can reduce the amount of trial and error, since it is an art they practice on a daily basis. Furthermore, a marketing team has the ability to assess and respond quicker to the process. Your business requires your full attention, your clients come first; however, to a marketing company, you are their client, and the successful marketing of your business is their priority.
- Learning curve: As a busy entrepreneur, you have plenty on your plate. Your time is limited, making this a less-than-ideal time to learn a new skill. Marketing encompasses a vast set of skills, people get degrees in marketing to build a foundation and then continue their learning eternally. It’s definitely not something that is picked up on a whim, it takes time and commitment.
The one advantage you do have, as far as doing your own marketing, is that no one knows or has the same passion for your business as you do. This is why we believe in collaborative marketing. Build a marketing program that makes the best use of your time and passion by being involved in your marketing, and allowing the experts to carry it out.