Inhouse marketing Vs Agency: On Which Side Is the grass Greener?

When it comes to marketing, brands are plagued by a never-ending quandary on whether to hire an in-house marketer or contract a specialized marketing agency. While proponents of an internal marketer might assert that they're more cost-efficient and personalized, the reality is that working with a marketing agency offers numerous benefits that many businesses don't seem to consider.

And it’s no doubt a tough one. Brands have a lot to consider when choosing between doing marketing themselves or outsourcing to a marketing agency. But in-house vs. agency marketing is more than just doing marketing yourself or hiring someone to do it for you. It’s about understanding what each marketing method entails, their pros and cons, and how they fit with your unique business.

Let's take a look at some of these benefits as well as the challenges of working with an agency:

Access To A Wealth Of Knowledge

A key and important intriguing benefit of partnering with a marketing agency is the level of proficiency they bring to the table. With the right marketing agency, you can boast of having an entire team of professionals with a diverse array of skills and knowledge, enabling you to execute the full gamut of marketing endeavors with ease.

A range of resources and tools

Most marketing agencies also possess access to an extensive range of resources and tools including the latest technology, data, and market intelligence that an internal marketer may not have access to. This can result in more impactful marketing campaigns.

A wide perspective

Another advantage of working with a marketing agency is their ability to apply a wide perspective to your marketing challenges. An internal marketer is fixated on one company, but agencies have a diverse clientele and can provide a unique outlook to each project. This broad view can result in more imaginative and effective marketing strategies.

A consistent focus on Marketing

Marketing agencies are solely devoted to marketing. Conversely, time limitations can be a significant issue for internal marketers, as they may have multiple responsibilities apart from marketing.

Continued support during absences or leaves

In the event of an absence or leave an internal marketer may not have anyone to take over while they're out. Conversely, a marketing agency can likely provide support even during such circumstances, ensuring that your marketing endeavors continue without interruption.

The Big Elephant: In-House Marketer or Marketing Agency

Whether you decide to go with a marketing agency or an in-house marketer, it's important to weigh the advantages and potential challenges carefully. If you do decide to work with a marketing agency, be sure to do your due diligence and research potential agencies thoroughly. Some questions to consider asking include:

1. What industries have you worked in before, and what specific experience do you have with our industry?
2. Can you provide references from previous clients in our industry?
3. What kind of reporting and data analysis will you provide to help us measure the success of our campaigns?
4. How do you handle communication and ensure that our vision and goals are met?
5. How do you determine pricing and scope of work, and what can we expect in terms of deliverables?

It's also crucial to establish clear communication and expectations from the outset. This includes defining project timelines, goals, and milestones and agreeing on the best methods of communication. By following these best practices, you can help ensure that your partnership with a marketing agency is a success and that you achieve the marketing results you're aiming for.

What is brand storytelling?

We can define a story as an “account of imaginary or real people or events told for entertainment,” and this makes storytelling the art of sharing a message in the form of a story.

Therefore, brand storytelling as the art of using a narrative to connect the brand to customers, with a focus on linking what you stand for to the values you share with your customers. This definition can further be broken down as follows;

By narrative, it refers to the storytelling elements. A good story includes the characters, setting, conflict, rising action, climax, and dénouement. Creating these points allows your audience to easily follow along with a story, and most importantly, remember it. It is key to note that the main character in your brand story is not you, it’s your customer. Your customer has to be the hero to make this work. Your brand is merely the guide.

By what you stand for, we are referring to the essence of your brand. It’s not the product or service you sell, and it is not to make money. It is the driving force behind the business and differentiates it from the competition. It is WHY you exist. Take an example of these famous brands, Nike represents athletic excellence, not sneakers or sports equipment. Apple stands for revolution and change, not their tech gadgets.

The values are character traits of your company that define it. Most companies randomly say their values are words like integrity, excellence, etc., but they choose these words because they sound nice, not because they truly reflect WHO they are!

So, why is brand storytelling very important?

The market arena is now more crowded than ever and competing for attention is more difficult than it was even a decade ago. Combine that with a customer’s user journey in which they are in control of the path to purchase; buying is now social, self-directed, trust-based, and transparent.

TThe most effective way to reach a customer who’s deciding what and when they will buy is to stop pushing your products or services so hard and focus more on why the business exists at all. When you narrate this story and explain your values you will engage with customers who share your values. And when you find such people who share your values, there’s a much better chance they will stay loyal to you (though we know that even brand loyalty has changed). Let me emphasize this with this quote

“You may have a great product, but a compelling story puts the company into motion. If you don’t have a great story, it’s hard to get people motivated to join you, to work on the product, and to get people to invest in the product.” ~ Ben Horowitz

Figuring out why your business or company exists, and telling that story to your prospective customers through marketing messages from social media posts, to your blog, to advertisements and videos, is the overall goal of brand storytelling.

Consumers today aren’t just passively buying from brands. They see a purchase as extension of their identity and values. What this means for marketers and brand strategists is that effective marketing cannot just be about promoting a product for its sole use or benefits anymore. A successful marketing strategy needs to be able to create a purpose, a community and a culture that consumers can share and be a part of.

That is why brands like Nike, Coca-Cola, Pepsi and Adidas are turning to purpose to better connect and engage their consumers.

So, what makes some businesses successful at storytelling while others fail?

TThe difference lies in how they tell their brand story. You cannot activate or reinforce purpose without storytelling. As a business, you need to be able to connect your own personal values and drives to your brand’s purpose and articulate that story to your target audience. This kind of narrative is needed for consumers to listen to you and be inspired to join in on your brand’s purpose.

By keeping your content honest, it equates to authentic storytelling. Always strive to provide your customers with an opportunity to feel like they are part of a larger group. People have a basic psychological need to feel, and be closely connected to others, and that caring, affectionate bonds from close relationships are a major part of human behavior.

“However, the biggest question several companies and businesses continue to struggle with is: how do we use stories to influence and nurture customer relationships?

The simple answer is, it comes down to listening, learning and engaging with your customers. Leave out the assumptions and guide your target audience along an experience without selling or pushing them. Discover ways of connecting with your customers on a deeper, more emotional level. Ask yourself questions like: do you give them peace of mind? Do you make life easier for them? Use these trigger points to strengthen your relationship and foster loyalty.

In all this journey, staying genuine and authentic will increase your brand awareness, return higher engagement rates, and ultimately, convert more qualified leads.

Bottom-line

Brand storytelling is the future of marketing and should be deployed for every business. If data and stories are used together, they are able to move your audience both intellectually and emotionally. Storytelling is one of the most powerful mediums to convey your message because it is remembered much longer than facts and figures, and people are more likely to be persuaded.