When businesses have to go through a difficult financial period, many important decisions can have a vital impact. We have seen that 60% of marketers have decided to delay or review their budget commitments as a result of the Coronavirus business crisis.
From a marketing perspective, one such scenario is to have your marketing budget put on hold, resulting in pausing any new hires in the marketing department. This decision can result from reports that might show low-efficiency of marketing activities.If you are looking to save budgets by not bringing new internal marketers, you might consider having an external marketing team. A report from 2018 showed that 78% of the respondents who work in a marketing agency will rather customize their pricing model to fit the goals or budget of their clients.
First of all, the market you are selling to has certain needs that your business has to meet, and right now, those needs are driven by the constant change of customers’ behavior. During a financial crisis, you should be looking for resilience, and that’s one of the main things that external marketing will give you.
More than that, you will need to attract customers that will help you sustain your business during a crisis, and a marketing agency will have that outsider view that can better help you build that solid bridge between your services and products, and your customers.
Having an external frame of mind when placing your activities in perspective will help you better evaluate your marketing strategy from a customer perspective. The innovative ideas and objective insights of a marketing agency will upscale your business during these challenging times.
Opposed to this, sometimes, internal marketers might not have a clear vision since there are many pressures, either from the management or other internal factors that have a direct influence on their position.
It is highly important for businesses to engage more prospects at this moment while making sure that they keep a low budget. The cost-effectiveness of approaching an external marketing team comes from the flexibility of benefiting of expert services when needed.
In other words, a professional marketing agency can provide you with dedicated marketers and consultants that will work on your top needs.
Since these external marketing teams have more ongoing projects, you will find that the way they can manage multiple accounts will outshine a strategy that can quickly meet deadlines and budgets.
More than that, working with an external marketing team means that your budget will go on deliverables only, rather than having to split it on different benefits or employee’s training.
Finally, an external marketing team will offer you better insightful data that will help you have a full overview of the ROI that the marketing strategy chosen by them can bring. That is because the primary goal of marketing agencies is to provide results, meaning they will constantly keep you informed with reports and updates regarding the status of your business.
Since an external marketing team is not influenced by any internal factors, such as trying to communicate from too many directions, their fresh ideas have the potential to better appeal to your audience as well as to send a clearer message.
Having the experience to work for multiple accounts, an external marketing agency can bring you the best approach during difficult times. In the same circumstances, your in-house marketing team might have lesser creativity caused by routine.
Eventually, to meet the current economic needs,you will have to choose the right balance between external and internal marketing activities.
Speaking of emerging ideas for your business, an excellent way to eliminate the tunnel vision is to have both external and internal marketing teams working together, competing healthily so that the results will be maximized, and your business will eventually meet the marketing needs.
If there is something vital during a crisis such as the one caused by the Coronavirus pandemic, that would be adaptation and flexibility. These assets can be given to your business by an external marketing team since it will respond to the needs that you have at certain times.
For example, if you are looking to increase the engagement, an external digital marketing team will most likely bring better results, since the focus will be only on that, and not on other marketing activities as well, as it might happen when having an internal marketing team only.
External marketing teams can sometimes have a better understanding of how important it is to be flexible during challenging times when this approach can give a high business efficiency over its operations and activities. More than that, right now, you want to be prepared for uncertain scenarios, and that is also something that this kind of team can give you with their authority in the marketing for businesses.
A crucial aspect of marketing, as in many other activities, is the expertise of the team your business is relying on. Many external marketing teams will offer you full coverage high-quality services that can easily be customized for your uncertain business’ needs.
What do I mean by having full coverage marketing services?
You might need a developer, a social media, and an SEO specialist, but each one of these specialists will not be justified for full-time work. Therefore it would be a waste of money to hire more people in these circumstances. It is rare to find all these qualities in one marketer only. Most importantly, to be able to execute them with high proficiency.
Therefore, external marketing will be a great option in times when lowering your budget is key for making your business thrive. An external marketing agency is a perfect place where to look for specialists in a particular area, who are continually looking for developing themselves, and the clients they’re working for.
All the challenges that the society is facing right now have to be transformed into learning lessons and experiments that will eventually grow businesses and make leaders and business people understand the quality of each small change they will make within a company.
For those of you who are looking to upscale the marketing efforts in times when your company has decided to stop internal marketing hirings, you can start by building a strong case on how much of a difference an external marketing team could make for the business, and eventually consult one agency. If you want to start now, get in touch with us, and let’s look for the best solution that can transform your digital business journey with a personalized marketing plan!