360° Coverage : Leave It to the Experts: Should You Outsource Your Marketing?

2 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...

Filed under: news

 
 
 

26 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
2

7 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new compa ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

8 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedie ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

China launches test return orbiter for lunar mission
Beijing, Oct 24 (IANS) China launched an unmanned spacecraft early Friday to test technologies to be used in the Chang'e-5, a future probe that will conduct the country's first moon mission and return to the Earth.
 
 
Mali confirms first Ebola case
Bamako, Oct 24 (IANS) The first case of Ebola virus was reported in western Mali town of Kayes, the country's health ministry has said.
 
 
Unesco chief condemns murder of Paraguayan journalists
Paris, Oct 24 (IANS/EFE) Unesco Director-General Irina Bokova Friday condemned the murder of Paraguayan journalist Pablo Medina Velazquez and his assistant Antonia Maribel Almada Chamorro, who were shot dead Oct 16 near Curuguaty in southeastern Paraguay.
 
 
Kidney stones may increase bone fracture risk
Washington, Oct 24 (IANS) People, especially women, who develop kidney stones may be at increased risk of experiencing bone fractures, finds a research.
 
 
 

Latest from the Network

Second MERS case reported in Qatar
Doha, Oct 23 (IANS) A 43-year-old man in Qatar has tested positive for Middle East Respiratory Syndrome (MERS) in the second confirmed case of the deadly virus in 10 days, media reported Thursday. The patient had...
Read more on Business Balla
 
Two people die in Pakistan bomb blast
Islamabad, Oct 23 (IANS) At least two people were killed and 12 others injured in an explosion that took place in Pakistan's Balochistan province Thursday, media reported. The bomb was planted on a motorcycle, Dawn...
Read more on Politics Balla
 
Trott extends contract with Warwickshire till 2017
London, Oct 23 (IANS) England batsman Jonathan Trott, whose mental issues led to his abrupt departure from last winter's Ashes tour, has confirmed his successful comeback to competitive cricket by signing a new three-...
Read more on Sport Balla
 
Srikanth, Kashyap big movers in BWF rankings
Kuala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest Badminton World Federation (BWF) rankings released Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Alvin Stardust dead
London, Oct 23 (IANS) English singer Alvin Stardust died after a short illness. He was 72. Stardust's manager confirmed the news about his demise Thursday, reports mirror.co.uk. He was recently diagnosed with...
Read more on Celebrity Balla
 
Indian man reunited with family after 40 years
Dubai, Oct 23 (IANS) An Indian man, who had disappeared from his hometown in Kerala nearly 40 years ago, has been found by his family at a hospital in Dubai in the UAE, a newspaper report said. Now in his 60s, Abdulla...
Read more on Politics Balla
 
Srikanth, Kashyap, Saina rise in world rankings
Kala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest released Badminton World Federation (BWF) rankings Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Flintoff signs for Big Bash side Brisbane Heat
Brisbane, Oct 23 (IANS) Former England captain and all-rounder Andrew Flintoff, who retired from international cricket in 2009, Wednesday confirmed that he will play for Brisbane Heat in the Big Bash League (BBL) this...
Read more on Sport Balla
 
OPEC daily basket price falls again
Vienna, Oct 23 (IANS/WAM) The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) closed at $81.94 a barrel Wednesday compared to $82.09 Tuesday, the OPEC Secretariat said. The new OPEC...
Read more on Business Balla
 
Lopez to sign multi-million dollar deal?
Los Angeles, Oct 23 (IANS) Singer-actress Jennifer Lopez is reportedly in the final stages of securing a multi-million dollar deal to perform in Las Vegas. The 45-year-old is being offered $350,000 per show at The...
Read more on Celebrity Balla