How to gain a competitive advantage by outsourcing
Staying up to date with the latest trends in marketing, technologies, and skill-sets can be extremely costly. Gaining a competitive advantage against your competitors, whilst winning new business is equally becoming increasingly difficult. This is where outsourcing comes into play.
For those unfamiliar with the term, outsourcing is the business practice of hiring a company outside of your business. Their role, is to perform services and create goods that were traditionally performed in-house.
So, what benefits come with outsourcing? Well, outsourcing partnerships, strategic alliances and joint ventures have long been prevalent in a businesses strategy for several years. Thus far proving to be a highly effective way for businesses to achieve a unique competitive advantage. Whether it's by growing market share, gaining new distribution or market penetration, outsourcing truly can bring forth a competitive advantage. Let's not forget the fundamentals - ensuring your user's experience with your brand is a good one!
The Origins of Outsourcing
Whether you're familiar with the term, or not, the history of outsourcing remains to be a distinctive one. Having originated as a concept in the 1970's, and despite being initially prevalent across only manufacturing industries, outsourcing has proven to be adopted into almost every organisation, to some extent. Whether it is for Marketing activities or more, outsourcing services is becoming increasingly popular.
In fact, according to a 2008 Deloitte report, companies that implemented outsourcing reached their financial objectives and averaged a strategically important ROI of over 25%!
Some of the world’s largest companies adopt outsourcing to become more ‘agile’ and ‘lean’. Subsequently achieving cost savings and business growth. According to LiveArea who conducted a survey in April 2020, nearly a third (32%) of companies in the UK plan to outsource their marketing departments. This is as a direct result of the impact of Covid-19 on their business.
Outsourcing as a result, is suitable for businesses and organisations looking to reduce cost and create competitive advantage, using the expertise of a dedicated outsourced marketing agency.
Is outsourcing right for your business?
Despite having several prominent benefits, outsourcing marketing services, may not be for everyone! However, if you are lacking the skills you need to drive your business forward, and don't necessarily want to commit to full-time resources, then it certainly should be a consideration.
With all the benefits of flexibility, scalability and expert control of your marketing, outsourcing is the ideal business continuity option that will allow your business to thrive. Given the impact of COVID-19, it's crucial now more than ever, to evolve and adapt. Since it provides you the benefits of managed costs and increase in ROI, why not take the jump?
Typical outsourced marketing services:
- Account Based Marketing (ABM)
- Marketing Strategy
- Creative Marketing
- Content Marketing
- Digital PR
- Web Development
If you need to achieve greater gains from your search activities and more effectiveness from your marketing, then outsourcing offers a lean and agile way of achieving this.
Polaris is an award-winning SEO agency in London specialising B2B, e-commerce and the healthcare industry.