The number of startups which never manage to grow to successful businesses is high, as a lot of millennials are trying to establish their own companies, away from the giants on the market. However, the problem with all these small companies and startups lies in the fact they fail to reach enough audience, so they can grow and develop into medium companies. One of the reason for this is the lack of proper marketing campaigns, which are now the leading tool that can drive engagement and convince people to buy a service or a product. Without a great marketing and sales team, most companies end up burning out their employees and die out in five or ten years.
Professionals don’t come cheap
Millennials have the main characteristics of a successful entrepreneur, but their tech-savvy spirit is no match to the expertise of a professional. This means they may help their businesses grow by promoting them on social media, but to be able to reach the next level they need a professional team of PPC expert, copywriter, graphic designer, web developer and a business developer expert. These specialists can bring a small company to the next level, but they are very expensive.
If you make the calculations for this team of pros, along with the side costs of failed hires and HR issues, you are going to end up with a significant amount of money. Most companies don’t afford the luxury of hiring the professionals they need, even if they are growing and they have a nice ROI.
Hiring only one of these specialists is not going to get you far, so you need a way to get the marketing help you don’t afford. You need to be able to create high quality, viral content, which can engage your audience and turn them into faithful clients.
A survey of the US Bureau of Labor Statistics shows that most startups die after two years, while half of the businesses survive more than five years. Out of these, only a third survive more than ten years. Of course, these failures can’t be attributed only to a lack of marketing, but this is a real problem with many companies. With such perspectives, you need to find a sustainable way to grow your business.
The solution to the expensive marketing problem
The solution to afford expensive professionals is outsourcing. There are some hidden costs of outsourcing, but they are lower than the cost of hiring an in-house professional. Outsourcing is a great way to grow your business, as it allows you to pay only for the services you really need. For example, if you need someone to create a viral ad for your company, at a high quality, you can outsource the service to a specialized marketing firm. This enables you to compete with the top players on the market, without having to break the bank.
Marketing is not the only department which can be outsourced; you can outsource your legal department, your bookkeeping department and even your CFO. This enables you to access valuable expertise, which you wouldn’t be able to access otherwise, due to high cost.
Why the focus on marketing
I’ve talked about outsourcing multiple departments of your company, but the marketing is the one you should focus on, unless you already have a very skilled team. All companies depend on how good they are promoted on the market. These days, the winner is not the one with the best product, but the one with the best marketing campaign. Outsourced marketing services can help you expand your business, but you have to find the best team you can afford. Moreover, they have to understand your needs and work with you to reach your goals.
Finding the best team is not going to be easy, but don’t give up. One of the biggest reasons of frustration for the entrepreneurs who turn to outsourcing is the limited number of hours the specialists spend with their businesses. This is the very thing which makes their services affordable for you, but it can also turn into the biggest problem. Have patience and make sure you are using the time of your marketing specialists in the best way possible. Ensure they know your company, so they are able to create the best campaigns for you.
When you find the marketing services you need, make sure you outline the expectations in a contract. State what you want from the marketing team, how are they going to conduct your campaigns. Black hat SEO can destroy your company, so you want to make sure the specialists are reliable.
A strong marketing team can put your company on the track towards success. After the campaigns reach their goal and your profit is increasing, developing the company, you can start thinking of hiring your own marketers. All in one, you can’t afford not to outsource the marketing, because your company needs these services to grow into a successful business.