As a small business owner, you understand the value of promoting your company’s brand and creating compelling and consistent marketing messages that connect with your ideal audience. You also realize that growing your business often requires partnering with other professionals to achieve your goals, which is why you may be exploring outsourcing as an option for elevating your company’s marketing efforts.
How do you know if hiring outside help is the right move for your growing business? Here are several key reasons to consider:
You’re not a marketing expert.
Every small business owner has strengths and weaknesses. A wise business owner recognizes when it’s time to hire the skills they lack. You may be an expert at running your business, but have no idea how to create a strategic marketing plan. Or perhaps it’s painfully clear that your social media efforts are not driving traffic to your website, but don’t know what to do about it.
Whatever marketing issue you’re struggling with, the right professional or agency can share proven formulas for building a strong business brand that will allow you to capitalize on the latest on- and off-line strategies. They will take the time to understand your business and partner with you to develop a marketing solution that supports your goals, whether that means driving sales, increasing engagement, or creating new revenue streams. If you or your leadership has no interest in developing your marketing know-how, working with an outside firm will help you bypass the learning curve that in-house efforts would require.
You want to maximize your marketing budget.
For many small business owners with limited knowledge, budgets, and/or staff, marketing can be overwhelming. The digital revolution has created countless channels and platforms that allow businesses to laser-target prospects and reach their current customers 24/7. However, there are so many options to choose from that you may end up constantly second-guessing whether or not you’ve picked the right media mix or spent too much money on Google ads or rewriting your website content.
An outsourced marketing partner has the expertise to narrow down the options and make sure you choose the best channels to reach your audience. Because they are not necessarily worried about stepping on toes or hurting colleagues’ feelings, third-party professionals can look at things objectively and present unbiased information grounded in research, analytics, and a track record of results.
With expert guidance, you can get the most from your marketing budget by investing only where you are likely to get the best return. Having a clear understanding of where and how much you need to spend to generate results will help you avoid costly mistakes. Outsourcing can also boost your organization’s return on investment (ROI) by putting your marketing in the hands of professionals who define success with ROI, won’t be weighed down with day-to-day distractions, and will free you to focus on your core competencies.
Having access to working capital financing can help you cover the costs of expanding your marketing efforts without impacting existing cash flow. Summit Financial Resources offers custom financing solutions that use your accounts receivable and other assets as collateral. Because we are not regulated like a bank, we can structure more flexible deals, take more risks, and make funding decisions more quickly to help you meet short-term expenses and invest in the long-term success of your business.
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Your marketing needs to be effective and efficient.
You focus on running every aspect of your business as efficiently and effectively as possible. However, your in-house marketing specialist may lack certain skills or be too specialized to implement the kind of cutting-edge campaigns that will help you stay ahead of your competitors in today’s fast-changing marketplace.
Outsourcing critical marketing responsibilities will ensure that you are in step with the latest trends, tools, and technologies. It also gives you the flexibility to pay for as much or as little expertise as you need and adjust as your budget and business grows. For instance, Summit Financial Resources outsources our search engine optimization (SEO) function to specialists that have up-to-the-minute intel on what it takes to be effective in this rapidly changing field.
Working with a marketing firm not only helps your small business stay competitive, but it can save on staffing costs and training. In addition, it often allows you to take advantage of group pricing for software, apps, analytics, and other programs that your company otherwise could not afford.
If outsourcing your marketing is part of your long-term business plan, make sure you choose an agency that can expand along with your organization. Working with an independent consultant may serve you in the short term, but you could end up having to start from scratch if your business growth outpaces their ability to scale.
You’re looking for a fresh perspective.
When you and your team spend the bulk of your time on your company’s day-to-day operations, it’s easy to lose the focus and enthusiasm needed to generate new and exciting marketing ideas. Working with creative people outside the company brings a different perspective that can re-energize your marketing efforts.
Where you or your staff may be stuck in old habits or unwilling to take risks, an outside agency will be expected to present new points of view or innovative approaches to achieve your growth objectives. This will free up you and your staff to focus on developing other revenue-generating ideas such as building better customer relationships or adding new products or services.
An experienced marketing consultant or agency can provide considerable expertise, help you maximize your budget, and take the “overwhelm” out of promoting your business. However, outsourcing marketing may not be the right call for every small business. Keep in mind that you could benefit from a strategy that combines working with in-house employees and outsourced experts. The key is to understand what your business needs and make the choice that best supports your future growth.
Working Capital Financing is a few clicks away.
Summit Financial Resources specializes in working capital financing for small to medium-sized businesses that need increased cash flow. We provide working capital financing through invoice factoring, asset-based lending, inventory lending, and equipment financing.