The Associated Press released an article this Monday that looked at the hiring outlook for various small businesses. The figures vary by industry with some up and some down, but the overall picture looked a little gloomy.
ADP, a small business payroll provider, reported that companies cut 52,000 jobs in May, while March and April saw growth. This signals a potentially less-than-rosy outlook. Additionally, declining consumer confidence has been affected by a host of factors, from rising interest rates to the political uncertainty of trade disputes.
In the face of these forces, what can a smaller company do to continue to compete and grow?
Outsource Marketing
One simple way a small business can play it safe is partnering with a marketing provider. One of the biggest issues smaller companies face is how to best utilize its limited resources. Oftentimes, companies will cut back on things based on where they can find the largest savings in their budget.
Instead of blanket cuts, companies can take advantage of a marketing partner to help them maintain a focus on growth while at the same time scaling back on other non-essential activities. Here are some of the reasons why outsourcing marketing with the right provider can help a company really play it safe by still having a growth mindset:
FOCUS
As already mentioned, a marketing provider will help maintain a growth focus, allowing companies to focus on core competencies of the business. If you are a medical practice, focusing on delivering faster and better care will be more useful than having medical professionals worry about how to acquire new patients via leads in a Google Ads campaign.
BETTER TALENT
You are an expert in your business, and you may be good at some marketing. However, agencies spend time perfecting their marketing craft and have access to a host of important competencies, including strategy, design, digital, creative, programming, and so on.
FRESH IDEAS
The challenge of your small business is that it’s just that: small. Partnering with a marketing provider will connect you with more capacity, capability, and competencies. In addition, agencies will have a fresh perspective on your business and bring a dynamic diversity of thought.
FLEXIBILITY
An outsourced partner allows you the flexibility to scale or contract as your business grows. Agencies should simply be able to adjust the scope of work, move around marketing talent, and hire if needed. This process is both quicker and much less of a commitment than if you had to hire a marketing department all on your own.
These are only some of the ways a small business can benefit from a marketing provider. What additional ways do you have? Comment below!
