In recent years, businesses have been launching themselves into the digital world at a rapid pace. That has compelled businesses to look for ways to establish a competitive advantage. There are two armors to gain a competitive advantage: constant growth and innovation.
To bag these two armor-like weapons, you cannot rely solely on your in-house teams. You will require the external help of marketing outsourcing partners to gain access to specialized skills, new-age AI-powered tools, and fresh marketing strategies.
Let’s trace some numbers that will help us understand the global outsourcing situation better.
According to a survey by Deloitte from 2022, we can extract the underlying key statistics.
- 50% of executives think hiring top talent is the most challenging aspect of meeting organizational goals.
- 57% of executives believe that the primary reason behind traditional outsourcing is to cut down costs.
Another data from Grand View Research revealed that the global outsourcing market was estimated at USD 280.64 billion in 2023 and it is expected to grow at a CAGR of 9.6% from 2024 to 2030.
For organizations across the globe, outsourcing marketing means the need for higher returns at lower operational costs. Letting an external partner handle your marketing outsourcing helps reduce catastrophic costs associated with employing full-time employees with special skills. Businesses can seek the services of such a highly talented pool on a per-project or contractual basis. Collaborating with an outsourcing agency means that your business will acquire the most up-to-date tools, technologies, and strategies and will not set a budget aside for training and developing new hires.
So, let’s dive right in and learn how in-house and outsourcing marketing have fared over the years.
In-House v/s Outsourcing Marketing Models
Earlier, online businesses relied mostly on their in-house marketing teams to achieve their marketing objectives. They were responsible for handling everything from managing social media channels to SEO, creating content, and running PPC campaigns.
However, the results won’t be in your favor if you do not have expert talent for each role. Because it would require you to spend time and resources hiring the right people and providing relevant training. And if you come through all that, the advanced tools will wait for your budget to wave a ‘Hi’ at you. You will be left with less flexibility and higher costs. This is where outsourcing makes things easy for your business.
Outsourcing has evolved into the mainstream and has become a strategic tool for organizations looking to expand. It allows companies to obtain numerous marketing services without keeping in-house permanent staff, which always leads to overhead costs. Outsourcing also has the advantage of flexibility, where a business can easily scale up or down its marketing activities depending on its ability at any given time.
Now, let’s discuss why businesses have begun preferring to outsource in recent times.
Why Businesses are Shifting Toward Outsourcing?
One thing to notice about outsourcing marketing services is the recent trend change. But it’s crucial to understand that outsourcing marketing services isn’t new. Many top brands have leveraged the advantages of external marketing services to grow their business. For example, during its initial days, Skype and WhatsApp outsourced their marketing operations to boost their business growth. It has allowed them to focus on their core competencies.
Here are three reasons why businesses opt to outsource their marketing services.
- Outsourcing offers flexibility and scalability to businesses.
For example, during a peak sales season, when businesses need more human resources to scale up their marketing norms, they can get external help from outsourcing agencies instead of spending their time and resources on hiring an in-house team.
- Outsourcing offers you access to a global pool of talent and specialized expertise.
Digital marketing agencies usually have a mix of fresh talent and expert individuals who have years of experience behind them. You will get to choose a team that understands business growth without having to teach or train them. On the other hand, when you hire an in-house member, you will have to spend suitable time and resources on training them to understand your needs and requirements.
- Outsourcing helps you reduce costs and boost your ROI. Hiring and maintaining an in-house team is definitely costlier than outsourcing. When you consider salaries, incentives, and training, on the one hand, and collaborating with an outsourcing agency with a monthly subscription, you know how much you are saving in the long run.
5 Ways in Which Outsourcing Marketing Drives Growth and Innovation
- You can leverage external expertise for fresh ideas.
Outsourcing isn’t just about delegating tasks. It is much more than that. You can access a broader pool of expertise and integrate fresh perspectives and ideas into your marketing strategies.
Outsourcing agencies have experts with years of professional experience who stay updated with the latest trends and technologies. They are also well-versed with the advanced AI-powered tools.
- You can expand your capabilities without internal overheads.
Outsourcing helps businesses expand their operations without bearing internal costs. Your budget won’t take a dent. You won’t have to worry about hiring new employees, paying salaries and incentives, and subscribing to tools.
- You can drive your business growth through specialized services.
You can outsource non-core functions like SEO, PPC, content marketing, and social media management. These marketing functions play a massive role in scaling your business growth. You can have the best product and customer service, but your growth will be hampered if you can’t showcase it to your potential customers. That’s why you need expert talents in these functions to devise new strategies for your business.
- You can focus on your core competencies.
When you outsource your non-core marketing functions, you will have ample time and resources to focus on your core competencies. You can streamline your operations and focus on developing your products/services. You can also focus on improving the efficiency of your existing processes.
Key Takeaways
Are you willing to advance to the next level in your sales and business? The first step in outsourcing is to identify the perfect outsourcing partner who can align with your brand goals.
So, before you outsource your marketing requirements, you need to ensure that you tick these three boxes:
- Innovative strategies should be your priority.
- You should be able to scale your business at any point in time according to your client’s needs and requirements.
- You should have ample time to focus on your core competencies and bettering your products/services.
Start discovering new horizons of development and use outsourcing to achieve your business growth with ease. Ensure that you keep a balance between your in-house team’s responsibilities and how much you outsource to a digital marketing agency.
