Three Things to Think About if You’re Considering Outsourcing Your Marketing.
Different parts of marketing have been traditional areas for companies to outsource work to Here are three, considerations that smaller companies need to think about while making the decision:
• Staffing Capacity and Continuity:
Larger companies have significant budgets and enough marketing work to support and full time marketing staff. Employee turnover is a basic concern, especially in startups where key employees are vital to operations and business continuity may be jeopardized if they leave. According to the research done Marketing positions are one of the highest areas of turnover. Hiring an employee gives access to more hours to get things done. However, startups have limited resources and marketing options on the one hand, and on the other hand not enough work for a full time marketing employee. Marketing can be seasonal so in such a case employee will have idle time and resources will also be wasted. An internal employee can devote extra time to come up with his new ideas, tackle deliverables, implement new process and perform value added activities that may fall outside the agency work out help you expand faster.
• Expertise and Industry Specialization:
Marketing is ever-changing, and has metamorphosed significantly in recent years with changing customer etiquette and innovations in technology. Different types businesses serve as a diverse as the range of services we offer. Marketing, and has been found ever-changing and has transformed significantly in the past recent years with the changing customer behavior and different times of innovation in technology.
Agencies generally hire persons who are experts in their domain and as specialist. Though many agencies have specific industry experience, it may lack organizational knowledge ,still have lower levels of specific industry knowledge than in the house staff .Peculiarly with a smaller marketing team, having specialists in every marketing function required is not nearly possibly. Marketing expertise can furnish in depth knowledge and expertise to create marketing programs that deliver results.
• The Cost Factor:
While taking a decision between house- staff and an agency, cost is one of the biggest factor of comparison. Hiring a full time employee for small companies can be expensive especially when we consider a hidden cost such as on boarding, recruiting, training and benefits packages. Agency retainers have monthly fixed costs and can also provide companies with the ability to forecast and control marketing costs. While only paying for time used can be a sizable way to access temporary help, it can also add up if projects are not tightly handled or revisions get out of control. Retainers can be established on the numbers of models, such as actual hours spent, scope of work, and project fess. Paying a person only for time used can be a great way to access part-time help. On the other hand, paying for a scope of work or project done by a person can ensure to get the job a person need to complete on a fixed budget which may be considered expensive as per hour. Overall, outsourcing allows minuscule companies to access high- level specialized talent fractionally.
Buying power is another a very important factor that is generally overlooked when working with an agency. While pivotal to hire and work with freelances, the pros, and cons of outsourcing marketing functions are diverse.
-Anushka Agrawal
