- Outsource marketing
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Outsourcing has been a growing area for British business in the last 10 years, but is primarily associated with ‘support functions’ such as IT, HR or Accounting. Marketing outsourcing, whilst common in the US, has not yet been embraced by British industry, but the economic downturn means that many businesses may well look to this form of cost reduction.[1]
Outsource marketing is the art of handing over the entire marketing demands of a company to a third party. this offers three distinct benefits;
Firstly companies can access higher quality talent that they might ordinarily be able to attract into an in-house department.
Secondly, outsourcing negates the need for an in-house team, thus reducing overheads – clients can literally operate with a bare bones marketing team, or even none at all.
Thirdly, outsourcing halts the need for multiple specialist agencies, or expensive consultants – all the marketing requirements are catered for by one centralised agency.
Businesses and Brands can achieve all of these benefits with the added bonus of flexibility (up-weighting or downscaling the requirements at any point), which suits the uncertainty of the current economic environment.
The challenging economic backdrop has meant that major corporations have begun outsourcing significant parts of their marketing. For instance, the Guardian newspaper outsource most of their marketing design in May 2010.[2]
Examples
References
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Wikimedia Foundation. 2010.
