It is hard to imagine that just months ago we were planning our 2020 goals and strategy to execute our objectives. No one could have predicted Q2 kicking-off in the middle of a global pandemic. Although the long-term implications of COVID-19 are going to be significant, one thing is certain – your business needs to survive this crisis.
With this disruption, and for most businesses, many short-term objectives are already pretty clear: ensuring safety, pivoting business models, or conserving cash, to name a few.
To plan, execute, and re-energize your marketing plans, you have two basic choices: build internally or outsource to a trusted partner. When considering an outsourced marketing model, the following areas need to be considered:
- Time / Speed to Market
- Cost / Savings
- Expertise Required
Let’s unpack each of these in a little more detail.
Time / Speed to Market
With the pandemic, companies had to make deep cuts and one of the areas hit hard has been (unfortunately) to the marketing department and respective personnel. This reduction in personnel does not mean your marketing strategy and to-do list goes away. This is where working with an outsourced marketing company can be beneficial since they have the resources and can execute quickly and efficiently.
Cost / Savings
If cost savings is the objective, by working with an outside marketing partner, a business can reduce the various overhead expenses – salary, health benefits, 401k match, office space, technology, etc. Having an inhouse team of marketers can be financially draining, and, in most cases outsourcing can prove to be more cost-effective for companies.
In today’s marketing world, the ideal team requires diverse skill sets of strategists, product specialists, SEO specialists, marketing automation specialists, copywriters, creatives – the list goes on and on.
Building such a team internally is a daunting task and one that will require a significant budget to cover payroll, ongoing training, and investment in the right tools, in order to successfully execute the plan.
If your in-house marketing team is responsible for managing a wide range of deliverables, and you are not currently prepared with the skill sets and/or the financial resources, then an outsourced marketing model might be the best option.
If you have been disappointed by the lack of success in your marketing programs, it might be time to consult with an expert – especially for your strategic objectives. Working with an outside marketing company can often re-energize your plans and get you back on the right track and bring a fresh perspective.
So, is an in-house or outsourced strategy the best solution? The answer is unique for each business and one that should be reviewed carefully. If your current team does not have the expertise or time to dedicate, the most successful speed to market strategy might be to outsource.
Craig J. Pierce is managing partner of Pierce Forward Marketing Group. He can be reached at firstname.lastname@example.org or 978-660-7590. For more information visit pierceforward.com