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Master your strength, outsource your weakness - Ryan Kahn.
Public relations (PR) and marketing are essential components of a successful company's growth strategy in today's business world. If companies need to be ahead in the competition, the best way is to have solid public relations (PR) and marketing strategies. However, not all companies have the resources to build an in-house team to manage these efforts. So why should such companies fall back on the competition?
This is where outsourcing comes in.
Although the strategy works for many, acquiring and hiring marketing and PR talents can be costly. The “all-in” cost for a hands-on marketing supervisor can range anywhere from $150 to $180k per year, in addition to hiring field marketers, PR, and social media managers. The cost of hiring a well-rounded, professional team could easily exceed $500k per year.
However, business models keep evolving. Rather than hiring an in-house team, many b2b companies are looking to outsource their marketing and PR to industry-specific agencies. The benefit? In addition to having access to a team of recognized experts and their high-profile connections within your industry, the costs are often half of what it would cost to hire in-house, typically somewhere between $120-$240k a year.
Outsourcing to the right agency can help B2B business owners achieve their marketing and PR goals at a fraction of the cost.
Why should B2B businesses consider outsourcing their PR and marketing services?
There are many reasons for outsourcing and why a company might outsource its PR and marketing efforts. One of the primary reasons is cost reduction. Hiring an in-house team to manage PR and marketing can be expensive. This is especially true for smaller companies that need more resources to hire full-time staff. Outsourcing saves companies money on salaries, benefits, and overhead costs associated with an in-house team.
Another reason companies choose to outsource is for specialized expertise. For example, PR and marketing agencies are often staffed with experts in their field who have experience working with various companies and industries. By outsourcing, companies can tap into this expertise without investing in training and development for an in-house team.
The meaning of Outsourcing in Business could include anything from manufacturing, IT services, and customer service to PR and marketing. However, outsourcing mainly allows businesses to focus on their core competencies while delegating non-core functions to experts in their field. This can lead to improved efficiency, cost savings, and increased competitiveness.
Now that we have a brief understanding of the meaning of outsourcing and the reasons to outsource let's see how outsourcing enables cost reduction.
Outsourcing can help companies reduce costs in several ways. First, outsourcing saves companies money on salaries, benefits, and overhead costs associated with an in-house team. By outsourcing, companies only pay for the services they need when they need them. This can be especially helpful for smaller companies that need more resources to hire full-time staff.
Another way outsourcing reduces costs is by providing access to specialized expertise without investing in training and development for an in-house team.
So it all looks lucrative enough for a business to outsource its PR and marketing efforts to leverage the time and cost benefits that come with it. Once a company decides to outsource, the next step is choosing the right PR and marketing agency.
Here are some tips to consider while outsourcing a PR and marketing agency and the pros and cons of outsourcing.
1. Determine your goals and objectives
Before you start looking for a PR and marketing agency to outsource to, you need to determine your goals and objectives. For example, what do you want to achieve through PR and marketing? Do you want to increase brand awareness, generate leads, or retain customers? If you clearly understand your goals and objectives, it will help you find an agency to help you achieve them.
2. Research potential agencies
Once you know your goals and objectives, you can research potential PR and marketing agencies. Look for agencies with experience working with companies in your industry and a track record of success. You can also ask for recommendations from colleagues or industry peers.
3. Check their credentials
Before outsourcing a PR and marketing agency, every b2b business owner should check its credentials. Look for agencies with a good industry reputation and have won awards or been recognized for their work. You can also check their website and social media profiles to see if they have any case studies or client testimonials.
4. Consider their expertise
When outsourcing PR and marketing, you want to ensure you're working with an agency with expertise in your area. For example, if you're a tech company, you want to work with an agency that has experience in tech PR and marketing. On the other hand, if you are a supply chain and logistics firm, consider an agency that works in your niche.
In addition, look for agencies that have experience working with companies similar to yours.
5. Evaluate their communication skills.
Effective communication is essential when outsourcing PR and marketing. Therefore, one will want to work with an agency that can communicate clearly and effectively with you and your team. Look for agencies responsive to your emails and phone calls and willing to meet with you regularly to discuss progress.
6. Look at their pricing structure
Before hiring a PR and marketing agency, look at their pricing structure. For example, some agencies charge a flat fee, while others charge an hourly rate or on a six-month contractual basis. Ensure you understand what you're paying for and the expenses you will have to bear. It would help if you also asked about additional fees or costs incurred during the project.
7. Consider their location
While it's only sometimes necessary to work with a PR and marketing agency in your city or country, it's something to consider. If you prefer to work with an agency nearby, you can look for agencies in your area. However, if you're comfortable working with an agency remotely, you can look for agencies anywhere. Currently, most businesses don't consider the agency's location since working remotely suits everyone as long as the deliverables are on time.
8. Ask for references
Before hiring a PR and marketing agency, you should ask for references. Contact previous clients and ask about their experience working with the agency. Ask if they were satisfied with the results and if they would recommend the agency to others.
9. Consider their team
When outsourcing PR and marketing, you want to work with an agency with a talented and experienced team. Look for agencies that have a team of experts in PR, marketing, and digital media. It would be best to ask about their team's experience and qualifications.
10. Evaluate their cultural fit
Finally, when outsourcing PR and marketing, you want to work with an agency that's an excellent cultural fit for your company. Look for agencies that share your values and priorities and have a similar company culture.
11. Choosing the Right People
We’ve all heard outsourcing horror stories, which make many companies understandably hesitant. The key to outsourcing marketing and PR functions is choosing an agency that is a true expert with established media and business connections in your field. In order to establish a trusting relationship, begin by asking:
What is the process of your service?
What happens on a day-to-day basis?
Who will I be working with?
How much work is required from me?
Do you have any successful clients?
Who are your competitors, and why are you better?
How do you guarantee ROI?
When you are clear about your goal, the agency will be coherent and deliver measurable results. Be crisp and clear. The fewer words, the better. Instead of a word salad, use simple terms.
Although you can work on your goals and objectives internally, you can expect a great agency that understands your business and industry to work with you and set those targets, build strategies, and define tactics. Use them wisely.
As with the advantages, there are a few disadvantages when outsourcing your PR and marketing efforts. Check them out in the blog here.
In conclusion, outsourcing your PR and marketing needs can be an intelligent decision for your business, but it's essential to do it right. By following these tips, you can ensure that you select the right agency for your needs, establish clear communication and expectations, and set yourself up for success. Remember that outsourcing isn't just about finding someone else to do the work – it's about finding a partner who shares your vision and can help you achieve your goals. So take your time, do your research, and trust your instincts. With the right agency by your side, the possibilities for your business are endless.
When you want a cake for your wedding, you go to a pastry chef, not a cook. If you want your marketing and PR handled deftly, would it not make sense to go to the most experienced experts in your industry?
If you are convinced you need a PR & Marketing agency for your business, fill out the form below, and our team will get back to you with the best Marketing and PR strategy.