How Can SMEs Benefit from Managed Marketing Services?
Managed marketing services help formulate strategies and deliver them successfully for Small and Medium Enterprises (SMEs). Marketing is exceptionally challenging and cost-intensive to handle in-house. If SMEs were to hire an entire marketing team, they would have to pay salaries and purchase expensive marketing tools. Understandably, that would take a toll on their budget.
Managed marketing services , on the other hand, cost-effectively do this while delivering optimal results. SMEs need marketing as a managed service for a variety of reasons. It could be attracting new customers, launching a new service/product, or just scaling the business overall. While large enterprises are armed with enormous resources to pay for the right talent and tools, SMEs may not be able to do so. Their marketing budgets are tighter compared to large businesses.
This blog post explores how SMEs can benefit from managed marketing services in detail:
1. Efficiency and Expertise
Irrespective of the nature of services or products, SMEs cannot succeed in the industry without making enough sales. In order to make sales, they have to make their target audience aware of their core business. The only way to get the message across is through marketing. For this reason, marketing cannot be treated as an afterthought. It should be an essential part of the business strategy.
Companies spend months or years perfecting their services. Somehow, the marketing aspect gets overlooked. This phenomenon is not uncommon as decision-makers in SMEs have to juggle many other aspects of their business. Managed marketing services can take some pressure off the decision-makers and formulate a strong strategy for the company. According to a report, about 34% of SMEs choose to outsource marketing considering managed marketing services' expertise and efficiency.
It is never too late to collaborate with an agency and outsource marketing activities.
2. Cost-effective Marketing Services
The marketing expenditure of businesses has multiplied in recent years. Particularly, spending on digital marketing has increased considerably. SMEs have to continuously up their budgets to leverage popular marketing tactics such as inbound marketing. However, it's not feasible to hire new experts every time a new marketing strategy starts trending. Doing so may add up costs within no time. In fact, hiring a small marketing team can cost SMEs hundreds of thousands of dollars.
Nothing comes cheap. Everything from office space to salary benefits incur enormous costs for the company. According to Glassdoor, the average annual salary of a marketing manager in the United States is $65,834. The salary of other marketing professionals such as PPC specialists, social media specialists, SEO specialists, graphic designers, copywriters, web developers, project managers, and content strategists.
This is why SMEs must aim to save as many resources as possible, and an excellent way to do that is to hire managed marketing services that offer a complete solution. They not only provide cost-effective marketing services but also incorporate the latest trends in their strategy without any added cost.
3. Excellent Marketing Results
For a marketing campaign to succeed, the strategy, content creation, and execution must be reliable. Unfortunately, a staggering 45.9% of SMEs deemed their marketing campaigns ineffective. Despite the discouraging statistic, it's never a good idea to end the company's marketing initiatives altogether. Instead, they should be investing in managed marketing services that can revamp the strategy or create a new one from scratch.
With the right expertise, SMEs are bound to get a good ROI from their marketing efforts. An outsourced marketing agency helps SMEs do a bit of soul-searching to figure out what went wrong in the last campaign. It paves the way to an improved strategy and breakthroughs.
4. Improved Sales and ROI
Marketing, in its very nature, is quite dynamic. Sticking to a conventional sales team and marketing activities may lead to stagnation of growth. Even if the product or service is excellent, an ineffective strategy will not raise awareness among the target audience. For SMEs to connect with potential buyers, they have to deliver simple messages in a streamlined manner. It can be achieved with the help of managed marketing services.
Investing the resources into an outsourced marketing agency will generate more leads and prevent business growth stagnation. Apart from that, a quality provider prioritizes budget-conscious planning for SMEs. They work with decision-makers within the company to carefully plan expenditures and offer a reasonable payment plan. The reason is simple; they prefer long-term collaboration with clients.
5. Enterprise-level Tools
SMEs often rely on limited marketing tools for the execution of their marketing strategies. By collaborating with managed marketing services, they no longer have to use free marketing tools. Whether it's tracking monthly traffic statistics or analyzing customers' behavior, marketing experts utilize excellent tools from Ahrefs, Hootsuite, or SEMRush to do their job. Depending on the provider, they are quite transparent about the tools they use.
Besides, agencies have their team of in-house employees or freelancers to plan and execute different job aspects. For instance, the agency may have a team of copywriters, content strategists, graphic designers, PPC specialists, or web developers who are experts in their field to develop a viable strategy for SMEs.
This way, an outsourced marketing agency can bring a diverse talent that businesses can utilize. Each marketing aspect is overseen by domain experts who are dedicated to producing outstanding results for their clients. Not to mention the fact that SMEs get access to premium research, audit, and analytics tools, which uncover industry insights.
Wrapping it Up
Managed marketing services offer a one-stop-solution for all marketing activities of SMEs. An outsourced marketing agency handles everything from strategy to execution. Since SMEs cannot hire an in-house marketing team, the marketing agencies can fill that gap by offering their expertise. This allows businesses to achieve an excellent ROI even with a tighter budget.
Onboarding a quality managed marketing service provider does not incur an enterprise-level budget. And it certainly eliminates the cost of hiring an entire team and purchasing marketing tools.