Strategic outsourcing is identified as the procurement of products or services from external suppliers in order to focus on core business.
There have been outsourcing and insourcing trends for decades. Organizations cannot do business alone anymore for many different reasons. Although most often benefits and costs of outsourcing are compared from the merely financial aspect, there are other benefits that are far more vital.
It's often overlooked that outsourcing bridges the talent gap that can not be fulfilled by in-house sources. It is impossible for an enterprise to be an expert in every subject or have qualified expert staff. Yet, competition makes it necessary to always be at the forefront in the fast-paced business world.
A survey conducted by Deloitte stated that 84% of the respondents either have considered outsourcing options or have already consigned several solutions to third parties.
Strategic outsourcing comes of age as it drives the growth of the market day by day.
Early on, outsourcing has been used mainly for works such as cleaning services, catering, infrastructure management, technical and administrative maintenance of facilities, hotel sector.
But today's world has expanded the sectors covered by outsourcing from HR to Health Care, from finance to digital marketing.
Outsourcing non-core functions to a specialized subcontractor has become very popular recently. It is forecasted that 300.000 positions are outsourced every year and this number will certainly increase in the coming years.
Considering the data, it seems that this is not in vain.
Since the outsourcing model allows most companies to reduce operational costs by about %35, and increase the quality of services, the era of executing each business process in-house is long gone.
Apart from the expenditure, process efficiency and standardization have overtaken cost reduction as a primary objective for investing. Businesses have stated that one of the most important reasons for choosing to outsource is standardization and process efficiency (88%).
Although it is a highly result-oriented mutual business relationship, you should remember that it is a long-term process that must be built on trust.
Of course, such a comparison may vary. Here we cover the digital marketing industry in general.
Even though in-house solutions ease the communication within the organization, enable you to control over the process in total, allow you to improve the company knowledge, and help you to boost the synergy of your company, the outsourcing method still seems a much more rational solution in terms of its advantages.
So, what are the key benefits of outsourcing?
1. Focusing on core business: Outsourcing helps organizations manage their major business challenges that require human interaction by delegating the additional works to third parties.
2. Developed Risk Management: Trying to solve challenges that your employees do not have experience with in-house can lead to risky outcomes and as a consequence, even the simplest tasks can turn into a serious burden for your teams
3. Saving Time & Reduced Costs: Third parties provide professional expertise that has a technical understanding of the related task.
In this way, your internal resources could get rid of the extensive research. Moreover, third parties probably have access to the required expensive software that is not feasible for your company so that saves time and money.
4. Flexibility: Outsourcing can help make your business more flexible and agile, able to adapt to constantly changing market challenges while providing cost savings and service level improvements.
5. Time Zone: If you market your product or services to a different country or location that is in a different time zone, you can get your job done while you are out of working hours
6. Outside Perspective: This can help you infuse your marketing strategies with freshness, think out of the box, and outsmart your biases
The need for cost savings through operational productivity has made outsourcing mandatory in the competitive business world, including digital marketing, which requires high technical knowledge and creativity as it provides a competitive advantage through a more strategic organizational approach.
Outsourced tasks could include writing or blog management, designing ads, creating social media posts, producing video content, creating lead magnets, managing ad campaigns, handling affiliate or loyalty programs to name a few.
Besides these, in terms of digital marketing or growth marketing outsourcing, the most commonly outsourced skills include:
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