If you are a business owner, CMO, or Marketing Director you strive for a marketing team that can best market your company and bring in leads to increase sales. Companies may either have an in-house marketing team or look for outsourced marketing solutions.
The former usually works exclusively for your company as an in-house marketing team made up of a social media manager, likely an SEO specialist, and more than likely a marketing manager. The in-house marketing department will have to perform marketing roles, in-house, such as graphic design, digital marketing, web design, copywriting, SEO, and PPC, etc. In-house marketing costs can be substantial depending on hiring and recruitment costs, onboarding, cost of tools, subscriptions, and software, overtime rates, payroll taxes, employment insurance... you get the picture.
The biggest advantage of an in-house marketing team is the alignment and familiarity with the company’s culture, mission, and vision, and complete knowledge of the product offerings. An in-house employee has an in-depth knowledge of the company’s internal processes as well as the organization and competitors that gives an edge over outsourced marketing firms.
In-HouseMarketing vs. Outsourcing
A survey was conducted to study how many businesses are planning or looking out for outsourced marketing solutions. According to TheManifest, at least 50% of small businesses look to outsource their marketing. And a report from HubSpot states that 2/3 of B2B organizations outsource marketing services.
Outsourcing Your Marketing
Outsourced marketing is, as the name suggests, handing over the marketing department to a professional marketing firm to offer their services. The outsourced marketing department helps by lightening the load of the company leaders and marketing managers who often do not have enough time, expertise, or workforce to handle the different marketing channels, namely optimization, social media management, PPC, SEM/SEO, email campaigns, content marketing, etc.
Should I outsource my marketing?
Some of the reasons businesses and B2B companies rely on outsource marketing companies is that they do not have the expertise to effectively execute the marketing strategy in-house. It may also be more economical to outsource, or the company may not have enough resources to scale it in-house. This is often the case.
Many small businesses cannot afford a full-time marketing executive. Others are looking for more effective marketing strategies that provide quality as well as consistency. Yet others may want to replace their traditional methods with digital marketing. Larger firms usually hire outsourced marketing firms to handle repetitive and tedious tasks such as graphic design, content marketing, email campaigns, and SMM so they can concentrate on technical and strategic tasks.
Outsourcing can provide critical marketing expertise that the in-house marketing team may have run out of. In other words, the company needs fresh marketing ideas that can boost sales in a short period of time. Or you may require an outside opinion or advice on how to best reach out to your target audience. Sometimes, a company may need outsourced marketing solutions to handle a specific project that is time-sensitive or needs extra assistance, especially during a seasonal trends or a new product launch.
With fierce competition, brands like Ericsson are outsourcing their extranet so that the sales department gets up-to-date customer information and direct communication with selected customers. Similarly, Best Buy, the electronics retailer, is outsourcing marketing strategies and the execution of marketing programs for business and high-end customers.
Now the most important question that arises is which Outsource MarketingCompanies you should hire?
When outsourcing marketing, the three biggest concerns companies have are
· Level of mutual understanding
· The marketing agencies’ experience and expertise
· The quality of delivered services
When looking for an outsourcing company, the three most important factors should be:
· The credibility of the agency
· Transparency and responsiveness related to the level of communication.
· The agency’s goals and objectives in alignment with your organization's
Outsourced marketing firms can deliver the best results to a client who has clear expectations, are open to recommendations and suggestions, and gives a detailed explanation of the company’s culture, mission, and vision so that the marketing agency can effectively plan its strategy.
Depending on the scale- small business or large firm- and needs of your business, you may hire
· Self-employed marketing consultants/ freelancers
· Tactical/ Strategic agencies
· Boutique Agencies
· Advertising Agencies
The first two would be an ideal fit for small businesses or those companies that require a specific marketing strategy or for a specific project. The latter two can work for large firms to provide the creative juices required to boost their sales.
If you don't take anything else away from this post, get this - Agencies: Don't over promise, business owners: Don't expect miracles!
Communication is the key to success: Transparent and honest communication will help understand the company’s expectations. If both parties are on the same page, it will mutually benefit both.
And last but not the least, outsourced marketing solutions will only be beneficial if it saves you time and increases your sales. And in turn, the business and agency work as partners tp create a long term relationship.