Nowadays, competition in the global market is a like a wild jungle, where the biggest and most known firms nestle (or wrestle) at the top of the kingdom.
Every day, companies with new products and services emerge and join the competition, alongside the forerunners; all are equipped with their own marketing strategies and techniques to attract clients.
With this situation, do you know where your company is positioned in the marketplace? How effective are the marketing methods that your company is applying?
In most cases, when a company experiences a setback in the business, cost-cutting in its departments becomes an option; usually, it is the department that incurs the highest cost that bears the brunt of cost-cutting measures.
Most of the times, the Marketing department suffers the burden of cost-cutting. Marketing usually has the largest budgets, with all the expenses for research and advertising. Most of the companies would start cutting back budgets for advertising and other marketing activities; it can even come to a point wherein some of the marketing staff will be considered redundant.
Such a move, however, is very risky for the income or revenue of a company. Also, the fact that marketing efficiency is obtained if there's enough manpower and yet the number of marketing employees has to be cut down becomes a catch-22. The marketing department is as important as any other sector in the company; however, expenses or cost remain to be a big factor in determining the future of a sector or department.
Because of this scenario that has become rampant among companies, the outsourcing industry came up with a solution for the problem.
Marketing outsourcing is a BPO (business process outsourcing) service that enables a company to market its products and services minus the need to hire or have that many marketing employees. This is the answer to companies that lack financial resources to continue marketing operations within the company.
According to the Australian BPO Report 2012, marketing—online marketing in particular—will be one of the fastest growth areas for outsourcing in the near future. Organizations are predicted to jump into marketing outsourcing by 21%.
Outsourcing marketing functions is an option for a company to be resourceful in having innovative and flexible marketing strategies, with ideas coming from proficient and experienced professionals outside the company. Having marketing experts outside the company to work on its marketing plans instead of hiring marketing employees to work within the company comes at a lesser cost. Marketing outsourcing is indeed a cost-effective means for a company to carry on its marketing function.
With this BPO service, a company can gain perspective from a customer's end since the outsourced marketing experts have a different point of view regarding the company's products and services. In a way, the outsourced experts can be a source of unbiased opinions about the products or services to market.
Marketing is one of the core functions of an organization, that's why issues regarding quality and control are questioned if it would be outsourced. But with the number of benefits marketing outsourcing can give to a company, the understanding and acceptance of the new BPO service became broader.
Marketing is not just about how a company promotes a product or service, but it's also about understanding the core of the business and where it is placed within the marketplace. It gives the company the ability to adapt to changes, face new problems, and make the most of opportunities the company encounters.
With the steady rise of social media, organizations are faced with challenges and opportunities in performing against competitors. Hence, constantly having a team of marketing experts is necessary to meet the demands of the market. With third-party service providers that offer marketing outsourcing, a company can now afford to carry out its marketing strategies to have an advantageous position in the marketplace.
Yes, it's true that marketing is at times expensive, but with marketing outsourcing, a company can have the right resources at its disposal and can be ahead in safely securing its place in the global market.