You and other busy business owners or managers have one thing in common. Time, marketing expertise and cost affect how profitable your business will become. However, if you are a C-Suite or a senior manager, you would wear many hats to manage your business. When marketing is also one of your responsibilities, you would face daunting challenges running your day to day operations.
Marketing difficulties faced by owners and managers
Time is money and time is indeed scarce. Despite investing your time in directing and controlling your business operations, there is no promise of success. Juggling workloads of budget planning, marketing campaigns, databases, results tracking, analytics and strategies can be overwhelming. Due to all these, you are not consistently focused on your marketing efforts.
Marketing continues to change constantly. And you sometimes lose track of strategic planning, business development and so on. Then, there is the issue of opportunity cost. You may lose that chance in securing other profitable business ventures. Increasing revenue and managing operational overheads are challenging. To scale a business optimally, stop wasting time handling everything.
You don’t have to do this by yourself!
According to the Fournaise Marketing Group, up to 90% of marketers are untrained in marketing performance and ROI deliverables, while another 80% shared that it is painstaking to justify how their marketing expenses are spent.
But, there is a way to do this more effectively and to relieve you from the nitty-gritty of marketing. And the result is better. Some companies have outsourced their marketing and celebrated success stories. Dating back to a 2005 Harvard Business Review article, in a Forrester survey, about 53% of the respondents, whom were B2B marketing executives aimed to outsource more than 50% of their marketing activities in 2004. And fast forward over a decade later, the growth trend in outsourcing marketing remains constant, as stated in the 2016 CMO Survey report.
What is marketing outsourcing?
What exactly is outsourced marketing? And, does it make any business sense? When you outsource your marketing, a 3rd party vendor or company will handle all your company’s marketing activities. The representative comprises of a diverse team of marketing experts. When you want to optimise a business, you want long term measurable and achievable ROIs. And these guys are here to do just that.
Why marketing outsourcing makes business sense?
There are tonnes of benefits in outsourcing your marketing functions. Here comes the crux of it all:
- Helps you with your strategic planning and execution of marketing activities. This sets a very clear direction for your company to achieve its mission and objectives. And also, this helps to strategically align your interdepartmental goals. This facilitates teamwork performance at its best. And at the same time, this saves you from making unnecessary marketing mistakes as marketing projects or competitions get tougher over time.
- Gives you new and fresh perspectives. Creativity kicks in at this vital juncture. This enhances both your company’s identity and voice of what you are to your customers. Poor creatives can make or break your marketing endeavours.
- Arms you with a dedicated and specialist marketing team. This improves your company’s brand awareness and leads generation. With newly minted ideas to solve your customers’ problems, you can up your game with your superior product or service.
- Fires up your media buying power. For your billboard, radio or TV ad campaign needs, you will have options to collaborate with various credible media agencies. And this leads to negotiating better deals or contracts.
- Access to new technology. With cloud computing, you can experience tested and proven business solutions. There are so many online marketing tools available. But which one best suits your business model? Be it through social media marketing, search engine marketing or PPC, email marketing or others, you get higher quality output that you would have by doing it in-house.
- Focus on the company’s core competencies: Outsourcing the marketing function can be smart for organizations that want to narrowly focus on their core competencies. While outsourcing is not always necessary for these organizations, it allows them to invest company personnel time on only those functions that are at the heart of the organization’s deliverables.
- Save costs compared to hiring in-house. If you hire a marketing manager that knows what they are doing, you have to pay a lot. On top of that, you will probably need administrative staff to support any marketing initiatives. If you take on an external agency, you only pay for a certain number of days per month, giving you the resources of a senior marketing professional and access to their team of administrative staff.
What does outsource marketing mean to your company? Marketing is a very complex and time-consuming process. There are many reasons to outsource marketing to other companies. Two of the most common reasons are to reduce and control operational overheads and to hire industry expertise.
Therefore, you can now save time and money plus maximise your marketing results. So, why not work with agencies that offer your company a win-win partnership either on a project or retainer basis? Let us have a talk and find out more about our marketing services.