10 Updates

Leave It to the Experts: Should You Outsource Your Marketing?

Apr 23 2014, 10:56am CDT | by

How dynamic is your current marketing team? Many companies are learning that outsourcing marketing responsibilities can be a good idea. To decide whether you should outsource your entire marketing...

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13 weeks ago

Leave It to the Experts: Should You Outsource Your Marketing?

Apr 23 2014, 10:56am CDT | by

How dynamic is your current marketing team? Many companies are learning that outsourcing marketing responsibilities can be a good idea.

To decide whether you should outsource your entire marketing strategy, part of your efforts, or none at all, you need to really understand your company and its capabilities.

I recently sat down with marketing expert Erik Huberman to discuss a developing trend for brands and services trying to grow revenues online. Erik founded the digital marketing agency Hawke Media in Santa Monica that touts itself as your “Outsourced Digital CMO.”

Investing In Success

“When launching a business, it’s critical to do what you are good at; sticking with your core competency is an absolute must,” Huberman said.

If you’re great at creating a product, then focus on that and let experts in their respective fields come in and execute other business functions.

If division of labor is not convincing enough, consider this: It is not only expensive to attract top-tier talent, but also nearly impossible to lure amazing hires to your business in competitive markets where opportunities are plentiful. If you are a newer brand that hasn’t yet distinguished itself from other players in the market — or even an established brand exploring a new space — bringing on the top-notch talent you need can be time-consuming, expensive, and impractical.

It is common practice already to outsource your development team, accounting team, customer service, and many other facets of business. Doing so saves overhead, commitment, recruiting time, training time, and expenses of full-time staff, while allowing you to tap into experts without all the associated expenses.

The Benefits of Outsourcing

Outsourcing your marketing team has recently become a more common practice. And since there is still a very small community of successful, talented, and experienced “growth hackers” — or digital growth experts — trying to secure one full-time can cost well into six-figures per year. For new companies, or a company just exploring digital, this makes little sense.

If you’re a startup, small business, or an organization focused on other growth initiatives such as product, bringing your marketing efforts to an agency that can strategize and execute across multiple marketing channels could be key.

Additionally, you can get all the perks of having a multimillion dollar marketing staff, but stick within your budget. Outsourcing provides these digital experts — who have likely worked with top-tier brands — at a fraction of the cost with no long-term commitment.

According to Huberman, some of the other benefits include:

  • Cost: At much less than the cost of one full-time executive, you get an entire team of experts, and can expect cheaper ad costs and software costs, among others.
  • Access: With the right firm, you still get complete access to all of your data and learnings — no hidden fees/total transparency.
  • Time: You save on all of the time it takes finding someone — or trying to learn the entire Internet marketing field yourself.
  • Experience: Your team will benefit from the experience the marketing team brings to the table, such as familiarity with your target market and the many marketing channels and opportunities available.

“The benefits are endless,” Huberman said. “The alternative, trying to hire an entire team in-house, can be very expensive and usually doesn’t land you the same level of expertise and experience.”

Find the Right Fit

Of course, outsourcing marketing isn’t going to be the right call for every organization, and your job as the steward of your company is to know if it’s right for your capabilities. The upside of handling marketing internally? You will have your own people dedicated to finding creative ways to market your brand with the ability to pivot that strategy on the fly.

If you are well-financed, larger organization, it is important to have an internal marketing team as well. With agencies, you generally set up a strategy and execute, but you are not going to have a soldier finding strategic relationships and creative marketing strategies outside the standard scope of marketing.

Besides, who knows your company, product, or service better than your internal employees? They can bring a true passion and some on-the-ground knowledge to your marketing efforts.

Outsourcing your marketing team is a big decision for any company. Used correctly, it can bring plenty of value by putting your organization in expert hands. The key component is to truly know and understand your company and its needs, so you make the right choice for the future growth of your company.

Do you think outsourcing your marketing is a good idea? Why or why not? Share in the comments!

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the De ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the Dewan Rakyat ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Mi ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern states las ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in com ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri M ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation of RM2 ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar S ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Sky ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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