You need a strong marketing function to support your business objectives, but your current budget may only afford you a junior marketing executive or team.
UK start-up entrepreneurs and high-growth SMEs benefit from outsourced marketing
Outsourcing marketing to experienced professionals – or rather insourcing them to be your flexible, virtual marketing department – can give you the peace of mind to have access to the senior expertise you need through an outsourced marketing team instead of insufficiently skilled staff on your payroll.
Outsourced Marketing Costs & Benefits – free download
Outsourced marketing: the benefits
An outsourced marketing expert can still come into your offices to work onsite, for part or the whole duration of a project or a number of days per week. You’ll get professional, inhouse marketing support and also:
- Experience – relevant industry and proven marketing experience, and if you contract a marketing firm with several marketing professionals you’ll even benefit from more than one set of experience.
- Flexibility – which is so critical when you operate in a dynamic and competitive market. Scale your outsourced marketing support up and down according to the workload, as and when needed.
- Cost-effectiveness – doing the right things right makes outsourced marketing more cost effective than a full-time junior who lacks the expertise to support business objectives through marketing, or a senior marketer who isn’t willing or able to execute their strategy without a team around them and/or an agency. You also save the money you’d have to spend on recruiting a full-time marketer.
You might also want to have a look at our short ebook about how to effectively outsource your marketing (or insource it, depending on your point of view) and find the right outsourcing company for your needs.
Compare the cost of marketing staff with outsourced marketing resources – and be surprised!
When high-growth small to medium sized businesses (SMEs) look to hire full-time marketers, the costs can be significant. No matter which experience level your budget can afford you, you have to include the cost of hiring and more importantly the costs of National Insurance and benefits such as a bonus as part of your budget. To have a strong marketing function, you’d have to employ a senior marketing director with the strategic expertise necessary to translate your business objectives into an effective marketing strategy. Taking into account all recurring costs associated, that could mean a salary range of £120,000 to £170,000.
However, outsourced marketing resources come without a full-time salary, any benefits such as holidays, pensions and the like or even HR administration requirements. Usually, an outsourced marketing team or expert works on a monthly retainer or project basis.
Costs to get a senior-level professional in to provide strategic and hands-on marketing support may range from £3,000 to £15,000 a month, depending on your marketing needs and the type of work. Given that there’d be at least one month’s downtime per year (i.e. to account for leave of that person which you wouldn’t have to pay for), you could access outsourced marketing resources with the experience and expertise you need from around £33,000 per year.
For more detailed salary range information in comparison to outsourced marketing, download our free comparison here.
Photo credit: CC BY Markus Spiske / raumrot.com, published unchanged