$17.5 billion today, and $36.7 billion by 2014, those are the budget numbers for online advertising. Online marketing is an area that can serve as a tipping point for most businesses today. A strong strategy, implementation plan, and management will either skyrocket a business, or a lack thereof could be its demise. All sorts of businesses are scrambling to figure out this never-ending equation.
People always want to know steps in solving a problem. Before we dive into this extremely easy guide, let’s review some important information. What you need to know before solving the problems are the 3 different options. There are always options.
- You can do it yourself.
- You can hire staff to do it.
- You can hire a firm to do it for you.
Let’s dissect each option:
- Do it yourself
Pros: You save a lot of dollars.
Cons: You spend a lot of time researching, planning, and implementing. Time is still money. How much is your time worth? That is the question you must ask yourself here.
2. Hire a person to do it.
Pros: You save money from doing it yourself. You free up time for other duties & responsibilities that will get you a higher return.
Cons: The most qualified people for the position are the most expensive. Some applicants do not have degrees in universities, yet. You have to go on what people tell you and what you can find out about their history. Remember, just because they are in their 20’s or early 30’s does not mean they know how to market a business on the internet.
Pros: They have the most experience and a proven track record (from what they have told you). You save money by not paying a salary, benefits, and taxes. Your time is not jeopardized.
Cons: Firms do not know your business as well as you do. In fact, the firm is managing multiple businesses and even your competitors. Are you educated enough to know what firm is best for you?
Now you know your options, let’s begin the 3 easy steps.
- Decide which of the three options is best for you. All successful businesses use a combination of option 2 and 3. However, the decision maker is already educated enough on the matter or at one point in their career they have done it themselves. In reality, the best circumstance is a combination of all 3 options.
- Before you go on hiring an agency to do a portion of your online marketing, you need to hire a person on staff for the sole purpose of conducting your Internet marketing duties.
- The last step is putting the decision maker of the marketing responsibilities (i.e. Director of Marketing, Chief Marketing Office, Marketing Manager, etc.) and the people or person on staff that will be the practitioner of the online marketing duties through an online marketing training course.
Keeping things simple is the way to go. Once you dive into the research of Internet marketing and online advertising you will see that people in the industry already make it complicated enough. Do not let yourself get mixed up in all the industry lingo. Revert back to the K.I.S.S. method. Keep It Simple Stupid. Taking a hands-on course that will teach you everything from strategy all the way down to implementation and management is your best option. By taking this approach you will get more out of the entire situation. You will be educated enough to do it yourself. You will know enough to hire the RIGHT agency and manage the employee. It all begins with the proper education. Knowledge is power.