Outsourcing marketing is becoming a common practice as the Internet and mobile communications continue to grow in importance. Part of the reason for this is that the number of marketing experts has not grown to keep pace with the expansion of digital technology. The number of experts in the field has remained fairly constant, which means that as the number of companies needing to employ marketing experts grows, the cost of this limited number of experts continues to increase. And so, hiring a marketing expert can be cost prohibitive, especially for small businesses who are just starting out.
Entrepreneurs and startups
Many entrepreneurs are very good at creating products or developing teams that create products, but there’s a big difference between having a product to sell and having the skill to sell it. Entrepreneurs are often drawn into an area where they simply don’t have the expertise, instead they take uncoordinated stabs at marketing trying to find something that works. This actually costs more in the long run than simply outsourcing marketing to an expert agency.
Cost effective marketing
This is cost effective because an agency has a number of clients and so can spread around the cost of paying for its expertise. The agency then becomes a much less expensive alternative for any given company as opposed to that company directly hiring an expert or group of experts.
Why outsource your marketing?
Outsourcing is becoming the way of the future, even traditionally in house business activities, such as accounting and customer service, are now being outsourced. This saves on the overhead of training and recruiting and maintaining a full time staff that isn’t always used at 100% capacity.
Marketing agencies provide an entire team of experts at a cost less than what the average company would pay for one expert alone. Outsourcing also saves time in that the trial and error associated with learning marketing while doing marketing is eliminated.
Does it suit your business?
Nevertheless, outsourcing isn’t for everyone. It’s a matter of both internal and external capabilities. Does your company have the financial capability to support a marketing contract over an extended period of time? If not then you’re probably better off marketing on your own. But, this generally applies to one man businesses or startups with low capital resources. If you’re up and running at all and there’s a reasonable cash flow, then it might be a good idea to research the advantages of outsourcing marketing.