Many small businesses in a variety of industries are struggling with the dilemma of whether to outsource their marketing needs to a specialist agency or to keep the marketing team in-house. There are pros and cons to each decision- hiring a marketing agency will result in relinquishing control of that part of the business but if you chose to keep the marketing team in-house, you might end up spending the entire budget on payroll and still not have the required skill set.
The largest part of the internal marketing budget is spent on people, systems and facilities. A bad in-house hire can cost a company over £100,000.
The benefits of keeping the marketing department in-house should be considered before a decision to hire a marketing agency is made. Keeping marketing in-house will mean that you still have management and staff control, with accountability staying in the business. In addition to this, you control how much time and money is being spent; but this does not mean that it will be less expensive because you might not be able to hire the skill level or expertise required, so it may end up costing more.
The marketing skills gap is very real. An agency will help you to bridge this gap and provide your business with a team of diverse, experienced and dedicated marketing professionals.
When deciding to outsource your marketing needs to a specialist agency, your business will be provided with top class marketing talent, innovative marketing strategies, shared experiences, and access to more advanced marketing technology.
And not only does a marketing agency bring in specialist talent to your business, they will save you money on salaries, overheads and direct purchases. A good outsourcing partner can save a company between 10-30% in their overall marketing spend.
A supply of talent and money being saved are not the only benefits to outsourcing. When entrusting an agency with your marketing needs, it allows for you to maintain momentum on other projects that are critical to the success of your business. You focus on the core functions of the business and let the marketers do what they do best!
Today, companies of all sizes are using outsourced marketing agencies to stay competitive in the market.
It is very easy for an in-house marketing team to lose sight of the big picture and sometimes you can get too close to your business, which makes it hard to see the marketing strategy from your audience’s perspective. Marketing strategies are only successful when the marketer steps into the ‘customer’s shoes’ or those of the target market. An outside agency will help to keep this perspective.
Outsourcing your marketing needs to an outside agency will create flexibility within your business and provide access to highly trained marketing professionals with a wide-range of skill sets.
It is important to have at least one person within your business who is responsible for collaborating with the marketing agency, so that they can help them understand the voice of the brand, key messages that you want to give to your customers, marketing content and the demographics that your business is looking to target. Performance-based agencies are a great place to start because they often have an advantage when it comes to market trends, statistical data and competitive analysis.
By Vicky Shaw