The Benefits of Outsourcing Your Marketing
Employee turnover affects businesses of all sizes in every industry, costing employers millions of dollars in onboarding costs and time allocated to training new employees. When an employee leaves a job, it costs their former employer one and a half times that employee’s salary. This is on top of the time management invests to recruit and onboard new employees and the added stress placed on remaining employees managing the extra workload.
There is a solution – outsourcing your marketing with a digital marketing agency. Hiring an agency to function as an outsourced team can cost less than the annual salary of an in-house team member and has many other benefits you might not think of.
Here are six critical reasons why outsourcing your marketing is the best option for your business:
1. Cost savings
Hiring an in-house team of marketing experts can be costly, and it can be difficult to find high-quality talent in different areas of marketing. A marketing agency will have a team of experts with varied specialties including digital marketing specialists, project managers, a web team, content writers, graphic designers, social media managers, a Chief Marketing Office, and more. The average cost to hire a web developer alone could be as much as $100,000 a year. Hiring a team of in-house experts capable of providing your business with the top skills you need to be competitive can cost upwards of $600,000 a year.
Companies who outsource their marketing can save an average of 17 to 20% compared to the cost of maintaining an in-house marketing team.
2. Saving time and money on hiring
According to Business Daily ‘Hiring one employee costs approximately $4,000 and takes an average of 52 days.’ Training that employee can take one to three months, or more! Working with an agency, you do not need to worry about employee turnover or unemployment insurance, and you can fire an agency at any time – no performance plans or documentation required.
3. The ability to focus on your business
It takes a team of experts who excel in a myriad of strategies and with comprehensive skills to ensure your marketing efforts are delivering an ROI. And if you (or your leadership) are spending time on marketing activities and managing a team, you will have less time to focus on other areas of your business.
4. Team of experts
When you hire in-house, those team members need guidance and may expect you to have the answers. When you outsource, you get an entire team of experts who can holistically manage your marketing needs and employ strategy for business growth. They come to you with the answers, ideas, and suggestions.
5. Insight into trends and resources
To stay competitive and engaged with your customers in marketing, you need to be on top of the trends and access insight relevant to your sector. Digital agencies have teams whose jobs revolve around staying on top of these.
6. Outside perspective
Internal team members may allow their connection to the business to negatively impact their ability to make the best decisions for the company. You may be unable to see things that are not working or have biases that are hurting your marketing efforts.
Outside agencies offer fresh perspective. They perform audits to find company weaknesses and will develop strategy and recommendations to help you meet your business goals. They are also aware of best practices across multiple organizations and know what works.
With the cost benefit and the high level of expertise you get when you outsource, why aren’t you doing it with your marketing?
At Paradigm, we serve as a fully outsourced team and work with existing marketing teams to support their needs. Schedule a marketing consultation today to see if outsourcing is right for your business.