There comes a time in the development of many businesses when owners and managers realize, “Hey, we should hire a Marketing Person!” Sound like a pretty good idea?
Doing The Math
According to salary.com, the average salary for a Marketing Coordinator, as of 3/19/2018, in Minneapolis is $56,201/year, not including benefits. According to the US Department of Labor, benefits add another 30%.
Assuming that the employee works 2,000 hours/year, the hourly rate is $36.53/hour.
But wait, what percentage of the time is that employee actually working? According to Contently, and others, the average employee only works about 60% of the time. that reduces the amount of actual work hours to 1,200, which increases the “real” hourly cost to $60.88.
Qualifications and Experience
Another question is: does that employee have the qualifications, personal experience or industry certification to do all of the following at a very high level?
- Website design, creation, maintenance, backup, updates
- Copywriting – optimized for search engines
- Graphic Design
- Social Media Marketing, both organic and paid
- Online Advertising, Google AdWords, Facebook/Instagram, LinkedIn
Probably not, which means that you will have to contract with third-parties to get some/most of the work done. The employee will also have to manage the projects.
If the employee tries to do work without the necessary experience, it probably will take them twice as long as an agency would and, probably, would be done with less quality.
Does This Fit Your World View?
Should the aforementioned math fit your view of the world, you would be better off hiring an agency at $120/hour and use them to do the work on an a la carte or retainer basis.
Also, we contend that we can do the work of an employee for 50% of what you would pay them. You will also avoid expenses and liabilities related to hiring, training, motivating, and, possibly, firing and employee.
Should you be considering hiring “A Marketing Person”, give us a call. We may be able to propose a mutually-beneficial solution.