Should I Hire an Agency for My Financial Services Marketing (Part 2)
Busy banks, credit unions, and financial services teams often have an in-house marketing staff. For many reasons, hiring an agency for all or some of the marketing strategy or tasks is a very real conversation to have.
Should you hire an agency?
In part two of this series, we explore the answer NO.
4 Reasons Why I Should Not Hire an Agency for My Financial Services Marketing
If the answer is no, then why?
1. You don’t have the internal structure to support working with an agency. If you are limited on budget and resources, it’s a no-go.
2. The financial services industry has a big learning curve for an agency. There are rules and regulations that must be adhered to in all aspects of marketing. Do not hire an agency that doesn’t understand your industry and the importance of your regulatory and compliance structure.
3. If you need sales right now focus on that first. Spend your time and resources establishing your business and getting customers in the door. Adding in more specialized marketing efforts or off-loading in-house marketing can wait.
4. Sometimes an agency does too good of a job! If you’re not set up to intake the business that an agency can send your way, hold off. Case in point – your website. If it’s not optimized to handle the increase in traffic of digital campaigns, or set up to funnel your sales appropriately, make that a priority before hiring a marketing agency.
Hiring an agency just might not be the right decision for your financial business. That may mean that an agency will never be a good fit, or it might mean it’s not the right time.
When it is time, read Should I Hire an Agency for My Financial Services Marketing (Part 1).