Marketing is a huge part of your business. It is key to showing the world what your brand is all about; plus, engaging with your customers, and providing the opportunity to boost your sales. However, when it comes to developing your marketing strategy, which works best: in-house team or outsourcing?
In or Out?
Many businesses have an in-house marketing team, especially larger companies and having your own marketing team has its benefits. They know your brand inside and out, and employees of the company will show great dedication and loyalty to your brand, but having an in-house team does not come without its disadvantages.
Marketing teams who work in one sector are very knowledgeable, no argument; however, being familiar with the brand could lead to strategies becoming a bit stale. Tesco did this recently by hiring a marketing executive from an entirely different sector – the banking sector. Although they had never worked for a retail brand before, the combination of the in-house team with the outsider proved to be a big success for the supermarket giant.
As great as an in-house marketing team can be, there are many benefits to outsourcing your marketing to someone else. Rather than having one team doing many jobs, by outsourcing to other agencies, you have a wealth of skills and expertise e.g., copywriters, graphic designers, web designers, social media experts etc., many of which will have worked on various projects across a variety of sectors.
Or why not have both? Yes, if going either one way or the other does not suit you, then a blend of both could be a good option. The combination of an in-house marketer and agency can blend the best o both worlds: dedication and brand knowledge, with a wide array of skills to choose from.
Money, Money, Money…
So, outsourcing can bring a fresh pair of eyes to your business – as seen with Tesco – bringing in people who work in other sectors introduces a different set of knowledge and creative skills that may not have been thought of otherwise – but, what about the cost?
Surely all that expertise comes with a bigger price tag. Well, no. Outsourcing your marketing can also be more budget friendly, while In-House marketing teams can be expensive. For instance, the salary of one marketing executive can equate to nearly a whole team of specialists elsewhere. An in-house team includes the cost of recruitment and training, with no guarantee that they will stick around for the long haul, leaving you with having to start the recruitment process all over again. Having an in-house team does not mean that you will not have to outsource at some point. Your team will no doubt be highly skilled, but they may lack in certain areas, whereby you need to look elsewhere.
The Gift of Time
Marketing can be time consuming – outsourcing to an agency can free up both time and energy, to focus on other aspects of your business, even more so for smaller companies. Their budgets will be much smaller than that of big corporations, and therefore may be more inclined to take on the marketing role themselves. Yes, this can be a financially friendly option, however it could mean that other areas of business may become neglected. Outsourcing your marketing can give you a bit of breathing space and give you the opportunity to focus on other aspects of business that may require be desperate for your attention.
If you want to find out more about what is entailed in outsourcing your marketing, get in touch.