In-House or Agency? Mar07

In-House or Agency?

Should you grow your own team or hire an outside firm? Explore the pros and cons. Multifamily marketers have spent much of the last two years evaluating, reevaluating and adjusting to the changing behaviors and needs of our renters. How can we reach them? How can we engage them? What do they want from us? (Functioning websites, accurate pricing and anytime communication, for starters.) With a new year comes a new set of opportunities. Ideally, we’ll all take the lessons learned during the pandemic and continue to improve on our marketing. But realistically, do we have the time? Imagine, your company has just unveiled exciting plans to grow the portfolio. Better still, it recognizes the importance of a strong digital marketing presence when it comes to attracting prospects. As the marketing manager, you have an important decision to make: Do you grow your in-house team or hire an outside agency? Both options are common in multifamily marketing, as is the choice to use a combination of the two, with the in-house team managing one set of projects — such as creating lease-up flyers — while an external agency oversees other projects — such as managing SEO and PPC ads for the lease-up. If you’re struggling with this decision, or wondering how to find the right balance, it’s important to consider the strengths of each approach, as well as the budget and bandwidth of your operations. When to keep marketing in-house (or not) Wondering if your in-house team can meet the needs of your properties? Digital marketing can be like a web, as you layer additional strategies, the overall strength and reach should increase. That begs the question, if you build your in-house team, how many people will you need? Will you hire generalists and/or...