As businesses grappled with the COVID-19 pandemic, there were many changes in how, where and when work was performed. Many companies provided work from home options. While that opportunity helped deal with government-mandated shutdowns, it had other unintended consequences. One consequence resulted in an unanticipated shortage in the labor force. During 2021 alone, 47 million workers quit their jobs in an era now called “The Great Resignation.”
Yet, while the labor shortage is seen across every industry, businesses and consumers continue to spend consistently. This puts many organizations in a race to attract and retain talent to keep up with demand. At the same time, freelance and gig work grew exponentially. These trends don’t show signs of reversing. Companies are increasingly outsourcing work to tackle business needs that support continued sales growth. Due to its fast-paced and specialized nature, it’s no surprise that marketing is a top outsourced activity in today’s environment.
Why Outsource Marketing Activities?
Some organizations hesitate to outsource marketing activities, thinking “If you want something done right, do it yourself.” Consider this: your business is successful because you’re an expert in your industry, not because you’re an expert in marketing. By partnering with an external resource, organizations are not giving up control. Instead, they’re allowing internal teams to focus on what the business does best, leaving content development and marketing outreach to a trusted expert dedicated to that field. In turn, the responsibility is off the shoulders of internal teams. This allows them to contribute more time and effort to central business objectives. Meanwhile, the outsourced marketing team delivers a proven framework and dedicates time, resources and expertise to meeting marketing objectives.
Choosing to outsource high-level marketing functions can be a game changer for organizations, according to Dina Wolfman Baker, SCMP, chief marketing officer of Chief Outsiders, an organization that provides fractional CMOs. “Sometimes, it’s not about scarce marketing resources but about the need for a seasoned senior marketing leader’s contributions at a stage when it doesn’t make sense to bring that capability in full time,” Baker says. “And, it’s about getting someone functioning with the leadership team, while still gaining from the external point of view. Fractional chief marketing officers—like my colleagues and me at Chief Outsiders—bring exceptional experience as operational marketing leaders to middle market companies, helping to achieve their growth objectives and see their vision come to fruition.”
Three Trends in Outsourced Marketing
The following trends in outsourcing are backed by statistics. They showcase the ways businesses are leveraging outsourced marketing experts to combat the labor shortage and instigate business growth:
- Outsourcing reduces costs and increases flexibility.
According to Deloitte’s Global Outsourcing Survey, 70 percent of businesses say their number-one reason to outsource is for cost reduction. This is followed by flexibility at 40 percent. Melih Oztalay of Smart Finds Marketing talked with MITechNews about the investment difference between attracting and training new hires in today’s highly competitive environment, versus hiring an agency. “Businesses are having such a hard time attracting employees, they’re raising wages to compete,” Oztalay says. “But why would a business spend a higher dollar amount per year on a VP and small team for their marketing team when they could hire an agency for less per year with a team of ten people?”
Oztalay says outsourcing allows companies to access knowledge, experience and competencies across a broad range of industries and client types. “That seems to make more sense to me compared to bringing in a team including a VP of marketing at such a high rate.”
- Small businesses in particular are outsourcing marketing.
Research shows that 90 percent of small business owners plan to outsource business tasks in 2022, up 10 percent from 2021. Those who plan to outsource business services are leveraging experts in the fields of IT (27 percent), digital marketing (24 percent), legal (23 percent), finance (23 percent), development (21 percent) and customer support (19 percent). With a small business, one less task on the shoulders of internal teams can make a significant difference in work productivity and business growth.
Thirty-two percent of B2B marketers say their organization has no full-time person dedicated to content marketing. With internal resources spread thin, it’s important to seek outside resources who can handle specialized tasks.
- Content is a top outsourcing need.
For a content marketing strategy to succeed, it requires consistent, high-quality content that addresses client challenges and delivers value. According to Content Marketing Institute’s research and predictions for 2023, nearly half (47 percent) predicted their B2B organization will hire or contract for content producers in 2023, ranging from writers, designers, photographers and videographers. Content development and content-related activities have remained the most likely activities to outsource, regardless of company size and budget. Outsourcing helps companies keep up with high demand and competition for fresh, engaging content across various mediums and platforms.
Outsourcing Successfully
The decision to outsource doesn’t stem from organizational inabilities or a lack of dedication. Instead, partnering with an expert is an effective way to prioritize and maximize your company’s commitments and abilities. By outsourcing all or some of your marketing tactics, B2B businesses can effectively address labor shortages without burdening internal resources. Bringing in a professional, experienced outsourced team opens your organization to innovative ideas and specialized skills. Most importantly, outsourcing can bring in a fresh perspective from experts dedicated to their field, inviting a host of new opportunities through maximized marketing efforts.
