ANALYSIS
BREAKDOWN
In-House
Agency
PROS
Familiarity with the business Diversity of available talents
Industry experience Social media expertise
Quick access to company materials & news Up-to-date with latest innovations
You know your company culture best Ability to create diversified content
Greater budget control Access to specialized technology and tools
Network of relevant contacts & influencers
Flexible working hours
CONS
Limited technical capabilities Need constant input from you
Limited working hours Limited availability
Social media learning curve Learning curve to get to know your business
Limited content variety Possible conflicts-of-interest
The Benefits of Synergy
Given that in both situations there are pros and cons,
a combination of the two options is generally considered to be the best option toward creating a winning social media strategy that will inspire customer
engagement and an optimal return on investment.
One or two employees can’t possibly have the knowledge and experience of an agency that lives and
breathes digital and social media; and no agency can
execute a good social media strategy for your business without your constant involvement. Companies
should start by assessing their internal capabilities
and limitations, then look for an agency that is compatible with their needs and long term goals, works
transparently and is ready to supplement their inhouse efforts to enhance customer relationships.
Sliding Scale Proposed for Legally Mandated Fines
In response to criticism that severe misdemeanor fines were partially to blame for the failure of local
startups and discouraging new investments by local business people, the Macedonian Government
recently proposed changes to Misdemeanor Law that would change the way fines would be levied.
Though the proposed Law entered Parliament in July, a vote has yet to take place on this potentially
beneficial measure.
According to proposed changes, business fines would be adjusted according to the following formula:
10-70% of mandated fine
depending on previous
year’s annual revenue
+
5-20% of mandated
fine depending on
the # of employees
+
10% of the mandated
fine if not the
company’s first offense
=
Amount
of fine to
be levied
This means that if the legally-mandated fine for a misdemeanor is €5.000, a first-time offender company
with 9 or fewer employees and <€8000 annual revenue would pay just €750; while a company with previous
infractions, annual revenues of >2 EUR million and more than 250 employees would pay the full €5.000.
18
Emerging Macedonia Fall 2014 Issue 43