We’ve already discussed different ways to support your marketing department, and things to think about when deciding whether you need to call for backup support.
But what about from a finance perspective?
What are some financial reasons to supplement your marketing department?
How does engaging the services of an external marketing support team, at a cost, actually help improve your company’s overall financial health?
In this post, we’ll look at the following financial reasons our clients have found works for them, in using our agency services, to see an improvement in the financial health of their company:
- Reduce overhead costs
- Free up valuable resources
- Maximize your ROI (return on investment)
- Extra flexibility to adjust
Reduce Overhead Costs
One of the easiest ways to improve your financial health is reduce your overhead – the costs that you’re already paying out in order to run your business.
Now, in order to do this, you need to be honest with yourself and your team’s performance: do you really need all the staff and tools that you have?
Are you utilizing the people and tools to their full potential when it comes to meeting project goals and deadlines?
If the answer is no, then another honest conversation needs to take place.
What can we cut from in-house and then give to an expert outside agency that won’t cost as much?
You don’t have to cut jobs necessarily to do this.
But you will need to honestly evaluate your situation to determine whether you need a contractor.
Simply running an internal department audit of what tools and subscriptions you are paying for regularly may cause you to step back and see that you can use the same or even less budget to get a much better result using that external agency.
You’d be surprised what a regular look under the hood of your toolbox and resources can provide for you in taking back some of those under-used dollars and decreasing your overhead.
Free Up Valuable Resources
This one is great, because you can use that audit you performed in the first step, and really pinpoint where your resources aren’t being used to their upmost ability.
This includes your employees AND your tools.
What if that task-based recurring project your team member is working on is actually taking away her time from doing the more intensive creative strategy work for bigger, more profitable projects?
You can’t get rid of the recurring project, but you can practice economies of scale and ship the project to an external marketing support team you know and trust.
Then, your team members and their toolkits will be optimized for the big projects, the big picture stuff.
And you can rest assured that your run-of-the-mill items, which need to be done and done well, are still thriving, at less of a cost to your department.
Maximize Your ROI (Return On Investment)
We’re on theme here: how can you make the most of what you already have?
By freeing up your most precious resources and cutting out the fluff, you’ll be able to really work and grow to crank out top-notch work in your marketing projects.
In turn, that could allow you to grow at a rate that wouldn’t be possible without your external support team.
And, by taking care of your internal team and not allowing them to get overloaded with work and projects, your employees will naturally be more productive per working hour, which will only keep the growth cycle moving and expanding that much more.
By working with an experienced agency, you can ensure that all of your resources are being used efficiently and effectively, leading to better results for less money spent overall.
Over time, you will see that maximization of your return on investment of the external agency, resulting in lower costs and higher profits as the relationship continues.
Extra Flexibility to Adjust
Last, but certainly not least, partnering with an external agency for your marketing needs allows you the flexibility to adjust your campaigns quickly if needed without having to make long-term commitments or investments.
This frees up you and your team to focus on your high-priority projects while still being able to test out new ideas and strategies without worrying about wasting time or money if they don’t pan out as expected.
You’ll have that ability to move laterally at a moment’s notice, to expand or shrink projects as needed.
And you won’t need to fear taking on a more risky project, as your financial investment in your partnership with the external agency will pay off in providing you the security you need to take more risks, and reap the potential huge rewards.
Conclusion
From a financial perspective, leveraging the expertise of a dedicated team of professionals in top-notch marketing services can help your company save time and money.
This ensures that you achieve the best possible results from your efforts and investments.
Supplementing your marketing department may be a good choice if you’re looking to streamline your operations and reduce costs over the long term, and get a great result overall.
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