The economy seems to be getting back to normalcy, slowly and surely. Amidst all the mayhem that companies unleashed during the lean period, all the major cost centers and support operations suffered. Marketing, which is still considered as a cost center by many, though it is an important growth engine was one among them. With companies beginning to figure their way forward to get back to growing ways, the focus shifts back to marketing in a big way.
What's a better option, hire and re-train a new marketing team all over or hire specialists in their own function and start outsourcing marketing operations. The answers are varied in different business circumstances. I was studying the merits and de-merits of both the options, . I will share more during the coming blogs.
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It totally depends on the company's strategy & focus.
ReplyDeleteThough it might be viable for any company to hire & re-train marketing professionals(with a focussed strategy), but in the aftermath of recession I personally would endorse the idea of having exploring specialists & outsourcing the marketing activities to a vendor.
The benefits:
1] Cost of hiring & retaining talent from the market could incur sufficient erosion of funds for a company vis-a-vis with a specialist Mktg. agency.
2] Re-training new workforce & acclimatising new members is time-consuming. Instead, focus & form a core marketing group within the organization & take specialized consulting from a outsourced vendor. It would help in significant cost-savings & you can be assured a better ROI on your investments.
3] Specialized Vendor Marketing companies can help in identifying potential market landscape & their qualitative expertise would accelerate the growth strategy for an organization.
Thanks,
Manish