Organizations struggle to attract and retain high-quality employees and the turnover rates continue to increase. Outsourcing has become more popular with the rise in remote work. Knowing when to hire vs outsource your marketing is a question many employers have.
Both have their perks, and downfalls so it’s best to see what is right for your team. Outsourcing allows companies to take an innovative approach to maximize their ROI and serve their customers better by finding a team or individual with the expertise they need for a specific area of the business. Hiring in-house can build engagement between employees and help propel progress and increase productivity.
Most organizations don’t realize how much time and money they’re wasting on their marketing (or lack thereof.)
Many times organizations are…
- Trying to do it all themselves and falling short
- Tired of paying money for marketing that doesn’t get results
- Lacking the staff, capacity, or specialized skills to execute their marketing effectively
- Missing an annual marketing and communications plan
- Unsure how to measure and report the effectiveness of their marketing
- Needing definition and clarity in their message
The truth is, it really is frustrating and overwhelming to construct the right multi-channel marketing strategy AND execute it to create incredible results.
When your internal team is stretched thin and you’re struggling to get your campaigns out, outsourcing your marketing efforts can help alleviate the pressure and stress your team might face.
Outsourcing your marketing efforts to a leader in the industry will typically require a substantial financial commitment. However, you will get what you pay for, so while it’s good to get quotes, it’s also crucial that you do your research on what each brings to the table to ensure you are getting the best return on your investment and attracting the right people to your business.
With increased competition for your ideal customer, nailing your marketing message is one of the most critical tools in your business.
Here are a few things to consider when deciding to hire vs outsource your marketing.
Evaluate and Analyze Your Needs
Evaluate and analyze your team’s marketing goals and objectives and list exactly what your business needs to reach those goals. Your customers expect you to have a cohesive, branded digital presence, especially when making a significant purchase. Strategic marketing helps build loyalty and credibility with your audience.
Think about when you make a large purchase, where do you go to look for information? You most likely look online for their website and social media presence or ask others in your circle for their recommendations.
People buy from people they know, like, and trust. If you don’t have a reputable brand that stands out, and a strong online presence, your audience will look elsewhere.
Track Your Key Performance Indicators
When you’re ready to invest in your marketing, you want to be sure your investment pays off. It’s essential to track your key performance indicators. Start with a baseline of specific metrics you want to track. This could include the visitor-to-lead ratio, lead-to-customer ratio, cost per lead, and client acquisition cost.
To ensure your marketing investments pay off, it’s crucial to have a strong marketing strategy to attract and retain your ideal customers. Understanding who your buyers are, what they want, and their pain points will help you better serve them with your messaging.
If you’re unsure how or where to track these numbers, outsourcing this to an expert would be ideal. This will allow you to understand what’s working and what you can improve for your next campaign.
Decide Where You Lack Expertise
When deciding whether to hire vs outsource your marketing, a good indicator is to look at the expertise of your current team. Do you have a team member with the right skills and available resources to get the job done – and still reach their goals? Do you have the bandwidth on your team to hire, train, and get a new employee up to speed to move the needle?
Outsourcing your marketing to an expert in the industry will allow you to get where you need to go more efficiently and effectively. It will also give you increased flexibility and free up your team’s time to focus on other growth projects within your organization.
Determine Your Ability to Execute
Your ability to execute an effective marketing plan relies on your budget, your team’s talent, and available resources. Maintaining an in-house salaried marketing team member can be expensive and, depending on your specific needs, may be unnecessary. Outsourcing your marketing to professionals may offer a fresh perspective with different ideas and strategies you haven’t thought of.
Over time, you’ll be able to develop a fixed budget to help you determine what types of business your marketing needs to attract your ideal client. You can decide the expertise you need on your team and the talent that makes sense to outsource, whether for your marketing strategy, analytics, content, or social media. When done correctly, each of these areas can create massive growth and impact for your business.
Do You Have the Capability to Offer Benefits, Insurance, etc.?
When it comes to hiring in-house vs. outsourcing your marketing, it’s crucial to weigh whether or not you will have to offer benefits, insurance, paid time off, and any other hidden costs that come with hiring an employee. Hiring an employee can be a significant expense for a business with fluctuating revenues.
According to Peer, the average salary of a marketing director alone is around $100,000 and the SBA estimates that you can plan for an additional 25-40% of that salary for taxes and benefits.
Your marketing strategy should be designed to grow your business and generate substantial results. Marketing is one of the most critical areas to invest in your business as it will boost your competitive advantage, maximize your ROI, and give you more time to focus on the other business growth opportunities in front of you.
We have the tools you need. As an experienced, full-service marketing agency, Big Spirit has helped organizations like yours transform their marketing and promotional efforts to boost sales, increase brand recognition, and raise more awareness for their cause.
