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RightSourceMarketing 2019 Right Source Marketing. All Rights Reserved. How To Build the Most Effective Marketing Team Insource, Outsource, or HybridIntroduction 02 Chapter 1 The State of Modern Marketing 03 Chapter 2 Outsourcing 05 Chapter 3 Insourcing 09 Chapter 4 Hybrid Model 12 Table of ContentsInsource, Outsource, or Hybrid How To Build the Most Effective Marketing Team RightSourceMarketing 02 Introduction Marketing isnt what it used to be. Gone are the days of, “Publish and they will come” and, “You dont really need paid media to engage your audience.” Todays marketing is about trying to stand out amidst the clutter, an integrated approach that surrounds your audience with the most engaging, interactive content, and then tracking, reporting, adjusting, and optimizing to get you the best business results. This new approach doesnt only require new tactics it requires new thinking, new skills, and a whole new team of marketers. For many companies, thats where things get sticky. Do you have the resources to hire, onboard, manage, and retain that mix of marketers? Or would you be better served outsourcing some or all of your marketing to an agency partner who can provide that specialized expertise? Like the personalized content you should be developing for your audience, its different for everyone. In this eBook, well help you think through your options. So, whether you end up outsourcing, insourcing, or relying on a hybrid model, you can turn your marketing efforts into measurable, revenue-generating programs. Introduction Todays marketing requires new thinking, new skills, and a whole new team of marketers.Insource, Outsource, or Hybrid How To Build the Most Effective Marketing Team RightSourceMarketing 03 In addition, theres a growing skills gap especially in digital marketing. A Google study found that when more than 1,000 digital marketers were asked to rank their digital skills on a scale of 1 to 100, the average respondent ranked him- or herself at only 57. Thats pretty discouraging for someone whose job is digital marketing, isnt it? Addressing both of these challenges comes down to assembling the right team of marketers people with the right skill sets to successfully execute marketing activities and measure the results of those efforts. But what makes up the “right” team? In the past, marketing teams were heavy on generalists, often with titles like marketing manager or marketing director. They could get by with a little knowledge on a lot of different marketing strategies and tactics from email campaigns to blog posts and be successful. Today, the landscape has changed. On a scale of 1 to 100, the average digital marketer ranks his/her digital skills at only 57. Nearly 40 percent of marketers say that proving ROI on their efforts is their top challenge. That means that while they may be creating and distributing stuff, theyre struggling to figure out if its actually effective. Chapter 1 The State of Modern Marketing Chapter 1 The State of Modern MarketingInsource, Outsource, or Hybrid How To Build the Most Effective Marketing Team RightSourceMarketing 04Content Some sources indicate that more than 3 million blog posts are published per day. Thats a lot of content for your audience to sort through. And its why you need a content specialist on your team someone who has the skills to develop targeted, strategic, engaging content that cuts through the clutter. But, being a good writer isnt always enough; you also need someone who has the industry knowledge to provide in-depth, educational value to your prospects and customers. Technology Seven years ago, there were about 150 marketing technology tools on the market. Now, there are nearly 7,000. To effectively use marketing technology to power your marketing efforts, you need people who know the ins and outs of the technology. From initial setup to maintenance to reporting, they need to know how to choose the right tools for your organization, optimize the way you use them, and ultimately generate a full return on that (sometimes) expensive investment. Distribution Sure, you can develop a lot of stuff as part of your marketing campaigns: eBooks, blog posts, infographics, videos, and podcasts. But you wont get results unless you get those things in front of your prospects. To ensure those marketing tactics actually generate leads, you need someone who understands distribution top to bottom from paid and organic social media to the strategy and implementation of successful email campaigns. Design Marketing and design go hand-in-hand. You can develop the most compelling content, ads, and emails in the world, but if they dont look appealing, theyre not going to draw your audience in which means youre probably not going to convert any readers to leads, let alone customers. And keep in mind that today, design covers a whole range of mediums, including interactive content, video graphics, social media graphics, and more. You need the right person to lead your design efforts to success, someone who understands marketing and design and how they work together. Chapter 1 The State of Modern Marketing While you still need generalists to guide efforts from a high level and tie marketing components together, you also need a number of specialists to meet the demands of todays buyers. Do you have the optimal team? In each of these areas, your team needs to be able to strategize and execute, which can start to inflate the number of people actually required to make the engine run. Think about your goals, who you would need to build strategy and execute in “specialized” areas beyond generalists, and then decide Do you have the optimal team? If your answer is no, dont panic. For many organizations, its no longer feasible to hire an internal team that covers all these needs. Thats why so many organizations consider outsourcing some or all of their marketing efforts. But, of course, there are also companies who successfully hire internal teams that include specialists from every category. It all depends on your companys needs, priorities, and resources.Insource, Outsource, or Hybrid How To Build the Most Effective Marketing Team RightSourceMarketing 05 Average Marketing Compensation Average Annual Salary* Average Benefits Costs* Total Compensation Chief Marketing Officer $205,530 $95,392.40 $300,922.40 Content Marketing Manager $65,003 $30,169.77 $95,172.77 Marketing Technology Manager $93,512 $43,401.62 $136,913.62 Marketing Director/Strategist $83,840 $38,912.56 $122,752.56 Marketing Analyst $53,749 $24,946.46 $78,695.46 Graphic Designer $43,025 $19,969.14 $62,994.14 Digital Marketing Manager $64,311 $29,848.59 $94,159.59 Total for Team of Specialists $608,970 $282,640.54 $891,610.54 Just think about what it takes to hire a modern marketing team. You have to recruit, interview, and hire each individual team member, train them, and then hope they live up to your expectations (and if they do, you have to then retain them). And have you considered the cost? Just look at the following average total compensation costs for marketers, including base salary and average benefit costs (31.7 percent of salary). To individually hire each of the specialists that youd have access to through a marketing agency, youd likely have to pay employee compensation ranging from $500,000 to $900,000, and that cost escalates if you make a hiring mistake or if employees jump ship after just a year. For companies that struggle with prioritizing marketing or dont have the resources to hire a comprehensive, specialized marketing team, outsourcing may be the solution. Sources: *Payscale December 2018 *Bureau of Labor Statistics 2018 Chapter 2 Outsourcing Chapter 2 OutsourcingInsource, Outsource, or Hybrid How To Build the Most Effective Marketing Team RightSourceMarketing 06Advantages of Outsourcing Outsourcing lets you solve lots of problems that make it hard to be successful with your marketing limited time and resources, lack of expertise, time to market, and more. arrow-circle-right Multiple areas of expertise For most companies, its not feasible to hire a full-time employee to meet every marketing need; with an outsourced agency, your business gets access to experts in every area, from content to technology and everywhere in between. That becomes especially important when your company implements something new, like a software platform. While it may take a good chunk of time to get your company ramped up on a platform, you may not have enough consistent, long-term work to hire a full-time specialist. Outsourcing gives you access to an expert for as long as you need him or her, so you can choose (and change) your priorities based on your needs and goals. arrow-circle-right Experience and insight An established marketing agency has worked with many clients often, companies that are in the same category of business as yours. That means the agency usually comes with experience and a depth of knowledge around what kind of marketing and messaging resonates with your audience and what doesnt. Because outsourced marketing agencies work with so many clients, theyre required to come up with efficient processes that drive results at every step of the engagement. That means they can bring established processes for planning, reporting, execution, and communication which can quickly put your company on a path to success. 3 in 4 companies say that attracting quality candidates is their biggest challenge. Chapter 2 Outsourcing The Problems With Hiring According to a Glassdoor survey, three in four companies say that attracting quality candidates is the biggest challenge they face today. Even if you do find the ideal candidate for each of your open roles, you then have to successfully onboard them. Research shows that it can take 8 to 26 weeks to get a new employee fully up to speed and in the meantime, that could cost your company between 1-2.5 percent of total revenue . But its not just about the costs of hiring. Bringing in an outside team can offer different perspectives, expert insight, added accountability, and more. Insource, Outsource, or Hybrid How To Build the Most Effective Marketing Team RightSourceMarketing 07 arrow-circle-right Outsider perspective Your agencys experience can also give you an outside perspective thats not always easy to cultivate in an internal employee. Internal team members can develop insular points of view over time, leaning on methodologies and tactics that are “the way its always been done,” or holding back honest opinions for fear of how theyre perceived by leaders. Outsourced marketing agencies, on the other hand, look at issues from your customers points of view (and dont act under the influence of company politics or bias). arrow-circle-right Accountability Outsourced agency partners are paid to produce results. Literally. That means theyre incentivized to work toward your goals, meet deadlines, and prove their successes and if they dont, youre typically able to end the partnership fairly easily. Its not as quick or easy to get rid of an employee or group of employees whose performance is mediocre. arrow-circle-right Stability of resources An internal marketing team gives you full- time access to your staff until someone gets sick or decides to leave the company. When your marketing technology specialist calls in sick, you likely dont have a backup who can perform the exact same function at the same level of expertise. So, you just have to put things on hold until he or she returns to work. And its even worse if that person resigns permanently; between hiring and training, youre probably looking at about two to three months until you have a replace- ment on board. Marketing agencies, on the other hand, have backup staff, so no matter what comes up, you have someone to address your needs. arrow-circle-right Scalability and speed to market Outsourced marketing teams are designed (and hired) to be quick and nimble. That means theyre staffed and incentivized to get your strategies into market quickly, while an internal team may not have the resources or bandwidth to commit to that goal in the same timeframe. Along the same lines, if your strategy shifts or marketing needs suddenly increase, an agency likely has the resources and specialists to accommodate that change whereas with an internal team, youd have to spend valuable time hiring additional resources. Worried Your Industry is Too Complex for Outsourcing? In addition to established processes and a depth of experience, agencies can also bring access to experts and freelancers that specialize in niche industries. They do the digging to find people who know exactly how to speak to your audience, no matter how technical or complex the topic. Chapter 2 OutsourcingInsource, Outsource, or Hybrid How To Build the Most Effective Marketing Team RightSourceMarketing 08Who Should Outsource? Outsourcing can benefit companies of nearly any size and in any industry but specifically, companies that experience the following challenges should consider outsourcing: arrow-circle-right Lack of resources to hire a fully staffed marketing team arrow-circle-right Difficulty prioritizing marketing activities, which causes a delay in getting marketing tactics into market arrow-circle-right The need for specialized tactics that dont warrant a full-time hire (e.g., implementing a marketing automation tool over a six- month period) arrow-circle-right Lack of strong marketing-specific leadership that can develop a strategy for success arrow-circle-right Lack of results/ROI with current marketing activities arrow-circle-right Too few people to address a long list of task-driven marketing activities (vs. strategy-driven) arrow-circle-right Need or desire to move from traditional marketing to a modern marketing approach, but lack the resources or insight to make the shift Why Are Companies Outsourcing? Drives Broader Transformational Change Manages Business Environments Cost Cutting Tool Enables Focus on Core Business Solves Capacity Issues Enhances Service Quality Access to Intellectual Capital Critical to Business Needs 59% 57% 47% 31% 28% 28% 17% 17% Source: Gartner, Marketing Organizational Design and Strategy Survey 2016 Chapter 2 OutsourcingInsource, Outsource, or Hybrid How To Build the Most Effective Marketing Team RightSourceMarketing 09 While many of the ANA survey respondents pointed to cost efficiencies as the reason why theyve brough
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