Should I hire an oil and gas marketing agency? This is a question that comes up naturally as more and more oil and gas companies discover the importance of having a consistent marketing and branding strategy.
While many businesses opt to tackle marketing in-house, many others prefer to employ a specialized agency. Yet, like every important business decision, there are always pros and cons to consider.
In our previous two blogs, we introduced the role of marketing in the oil and gas industry and highlighted the power of branding. In this article, we will review both the benefits and disadvantages of hiring an oil and gas marketing agency.
As an agency, we admit to holding an amount of bias in this area. However, we believe that the points can be viewed objectively in spite of this.
Hiring an Oil and Gas Marketing Agency
- Bringing an oil and gas marketing agency onboard means having a team of experts to help guide and execute your strategy. This means less error and higher efficiency.
- Utilizing an agency allows you to focus on other factors of your business.
- By using a team of experts, you ensure that all knowledge in the field is current and up to date.
- Most agencies have an experienced team of talented designers, copywriters, web developers, and account managers waiting to showcase their creativity. Rather than hiring one person or a small team of marketers who will wear many hats, an experienced agency team can take a simple business concept and turn it into a designed masterpiece.
- An agency is guaranteed to offer marketing professionals with integral skills and the ability to produce top content and design. Meanwhile, an in-house team can change hands as team members leave and new employees are hired. In this case, a lot of training is lost and replacements may not have the same knowledge base.
- An oil and gas marketing agency has the perception of being more expensive than in-house marketers. However, hiring one person in-house might not have the blend of skills you’d get with an agency. You get what you pay for. Additionally, paying a salaried staff may cost as much if not more than a monthly retainer with an agency.
- When working with an agency, possible communication gaps may exist. While most agencies prioritize efficient and consistent communication with clients, issues may still arise as they are not in the office with you.
- Negotiating project scope can be a challenge, as agencies have to balance your work with other clients. This means that when a project is underestimated in hours, issues may arise. This can potentially impact the project and/or your costs and require important planning at the outset.
- Agencies require kick-off time to educate themselves on your company, customers, and competitors. Even a specialized oil and gas marketing agency will need time to develop knowledge of your company, execute your needs, and ensure your marketing system is in place.
- In-house marketing communication is much simpler and quicker than an agency. You will not have to onboard an oil and gas marketing agency or worry about passing along the right information. Instead, the team working on the marketing is local and aware.
- Using a marketing manager or a small in-house team means being able to align your marketing strategy with other business efforts more easily. An in-house team may also be able to implement a strategy more quickly because there’s not a learning curve.
The Deciding Factor
If things are looking pretty even to you right about now, that’s because they are. For some companies, the choice between using an in-house team versus an oil and gas marketing agency is simple enough based on their needs. For others, it’s too early to determine which will work best for their business. The best thing to do when choosing is to keep in mind your goals, timeline, budget, and plans for scalability to determine which option will meet and support your business best.
Editor’s note: This is an updated version of a previous blog from June 2017.