Can a Content Marketing Agency Save Me Money?

Content marketing is an integral part of every marketing team. And if it’s not then it should be. With 70% of consumers wanting to learn  through content versus traditional advertisements, a strong content marketing presence is essential. The question is, should you hire in-house or outsource to a content marketing agency? Let’s answer the question, can a content marketing agency save me money?

Inhouse Content Marketing v Outsourcing

Before delving into the financial details, it’s essential to remember one thing. Bad content writing won’t win you business. So whether you’re hiring inhouse or outsourcing your content, choosing very cheap or underqualified writers won’t help you in the long run. If you’re going to focus on content, you’ve got to do it properly. That means implementing an omni-channel approach tailored to the audiences of each platform. That requires strategy, experience and a sound knowledge of today’s digital landscape. Simply plucking an intern and asking them to write a blog here and there is not good enough. So let’s look at the facts.

The Cost of Hiring Inhouse

For the purpose of this exercise we have used average recruitment costs for a finance company based in Cyprus.

  • A Content Manager – €3.5K per month

A content manager’s role is to plan and implement creative ideas with efficiency ensuring deadlines are met and work produced is of a consistently high standard. They’re the go-to person for writers and help to keep the whole team operating in an organised and timely manner. A good content manager can help to lead activities for the entire marketing team.

  • Social Media Manager – €2.5K per month

We live in an age where social media for business matters. While the finance sector was a little late to the party, hiring a social media manager to extend outreach and improve engagement is a must if you want to fend off those competitors. While some companies combine content and social marketing positions into one role, the amount of work needed for both is often a big challenge for a single person.

  • Content Writer – $2K per month

Search engines love fresh content. Well-optimised articles, blogs, PRs and web pages improve your organic search ranking which is why it’s crucial to keep content flowing. For this you will need at least one writer, if not more! It depends on the size of the company and the tasks you expect to be completed, but it’s not uncommon for finance brands to have several writers. Remember too that financial services writers must have a good understanding of the markets and the compliance procedure. Training someone from scratch is a difficult task.

  • Campaign manager/strategist – 5k per month

Ideas don’t simply spring up by themselves. It takes time and careful planning to take a business to new and exciting heights. That’s where a campaign manager/strategist comes into play! Creative input backed by strong research and statistics is then filtered down through the marketing team. All plans are monitored and tweaked accordingly and results reported back after each campaign.

Total for in-house content = €11.5k per month.

This figure is quite hefty and is based on hiring just one writer rather than a team. If you’re trying to budget more sensibly and make your money go further, what’s the solution?

The Cost of Outsourcing

Outsourcing your content is often considered the ‘expensive’ option – but this couldn’t be further from the truth. In fact, delegating work to a content marketing agency you know will get the job done well, will save you time and free up office hours to focus on other important tasks. Access to a team of seasoned finance marketers isn’t all that costly either.

At Contentworks, our Rockstar solution is just €4,900 per month and includes:

  • High-quality content to generate a buzz around your brand
  • 3-channel social media management for Facebook, Twitter and LinkedIn
  • Influencer marketing helping you to connect with the brightest minds in your sector
  • On-going strategic advice
  • On-demand content marketing support when you need it the most
  • Monthly reporting to ensure you stay on top of progress

So as you can see there’s a big difference between €11.5k per month and €4,900 per month.  Of course, it’s essential to choose a content marketing agency who understands your sector. Financial services is very specific so you will want to see some work examples before you choose an agency.

Other Advantages of Outsourcing

  • No need to allocate holiday pay

Full-time employees are usually entitled to 20 days holiday per year. Therefore if you hire in-house you must budget accordingly. By outsourcing work as and when is necessary; you won’t have to worry about such obligations and can streamline your spending.

  • It’s scalable 

The challenge for many new finance brands is knowing how many marketing staff they will need. It’s an age old problem faced by all startups. The benefit of outsourcing your content marketing is that it’s scalable. That means you can add or remove services as your business evolves. Start up brokers and hedge funds find this a safer option than hiring an entire team.

  • No need to pay sick pay

While there is no obligation in Cyprus to pay sick leave, many companies do incorporate this into a contract. In other parts of the world such as the UK, employers may also be eligible for things like statutory Sick Pay where employees receive £92.05 a week for up to 28 weeks if they’re too ill to work. This, of course, is another thing you don’t need to think about when outsourcing.

  • Negotiating bonuses isn’t an issue

Many people make their money in commission or bonuses! When you outsource, a rate will be agreed at the start so you know exactly where you stand financially.

Can a Content Marketing Agency Save Me Money? The answer is yes. Our Rockstar solution features highly-experienced writers, marketers, social media experts and strategists all fully clued up on compliance for the finance sector. Save money, access the best content marketing team and stay scalable.

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