Outsourcing Your Marketing

It is true businesses are facing tough times, the first thing most businesses do is pull their marketing budget. I want you to understand that I advise against it. Studies have shown that in previous recessions businesses that continued to invest in marketing saw growth in their businesses, while those that pull their budgets saw a decrease in sales.

In today's economy it's not uncommon for businesses to begin to look at the option of outsourcing their marketing rather than doing it in house. Outsourcing can save you the overhead of a marketing department, but what should you look for when contemplating this option to ensure that it's successful and you don't get financial burned?

It’s not a secret that many companies that downsize, re-prioritise or expand find outsourcing to be a cost effective decision to fulfil certain corporation functions.

Outsourcing has become an essential aspect of business strategies and this included the marketing function.

Outsourcing allows a company to put more focus on product development and overall operations. It eliminates the delay the need to hire full-time staff and avoids tasking overworked staff.

TWO Marketing help companies market their products and services without extending their in-house marketing staff. We can often provide the same service as an in-house marketing department, but at half the cost.

Some Strategic Thinking in 2010

When you build a new house, you need a solid foundation before you start building up the brickwork. Marketing is the same, set the foundation within a plan before you go and spend money on promotion. Don't waste money on impulse purchasing, set out the plans and stick with them. Everyone hear of horror stories where companies pay for advertising that don't even exist. A good plan will deliver good results...
Developing a marketing strategy is vital for any business. Without one, your efforts to attract customers are likely to be haphazard and inefficient.
The focus of your strategy should be making sure that your products and services meet customer needs and developing long-term and profitable relationships with those customers.
To achieve this, you will need to create a flexible strategy that can respond to changes in customer perceptions and demand. It may also help you identify whole new markets that you can successfully target.
The purpose of your marketing strategy should be to identify and then communicate the benefits of your business offering to your target market.

Set your companies vision

• What are your companies aspirations?
• Have you set your goals and objectives?
• What are your predicted sales revenues short, mid and long-term?
• Have you a clear strategic plan?

How will you achieve your vision?

• Do you want your existing customers to spend more?
• Do you want to acquire more customers?
• Are you looking to expand with new locations or new products?
• Have you segmented your customers by size, location, industry and buying behaviour?
• Do you have a customer database?
• Do you have a marketing plan?