When Employing Someone to do your Marketing Makes No Sense

The average Marketing Manager in the UK earns a salary of around £45k. A non-managerial, digital marketing specialist typically earns about £35k whilst a Junior Marketing Assistant earns £24k. That’s a monthly cost of £3,750, £2,917 and £2,000 to your business respectively.

Add in the paid holidays, the sick days, a pension scheme, the ongoing training, the desk space, the computer, the mobile phone, the company car allowance and a myriad of other expenses and you can, very realistically, increase each of those figures by 50%. Of course, the process of finding that person in the first place isn’t free either. Recruitment agencies typically charge between 10% and 15% for sourcing you the right candidate so there’s anything between £2k and £7k to pay before you’ve even got someone on board.  Then you’ve got to wade through the CV’s, conduct 1st and 2nd interviews, choose a candidate and wait out their notice. All of this, for one person with one set of skills and that set of skills is entirely dependent on the amount of budget you’ve got in your back pocket. If that budget doesn’t take you to the top of the salary bracket for the role you’re offering – you’re already at a disadvantage compared to other organisations that can afford better.

But you’re ok with being at an early disadvantage because you’re going to invest in that person. They’re going to grow with the business and be with you for the long term… or at least that’s what you hope. It’s just as likely that they’ll get skilled up and then move to a new organisation which pays them a salary that aligns with their new found skills… leaving you back at square one. But for arguments sake, let’s say they don’t leave you. If they’re going to do their job successfully, they’re going to need a marketing budget. A small annual marketing budget sits anywhere between £6,000 and £20,000… if you’re a progressive company with a reasonable sized budget you might be lucky enough to have £50-£60,000 to spend.

But you went all-out to get the marketing person you really wanted and that means you stretched your budget to offer a salary of £40k (+ £25k in additional expenses mentioned in paragraph 2 and that means you’ve only got £20k this year for your marketing budget. You had to do it that way though. There was little point in employing someone without the adequate skills and experience and then handing them a £40k budget – that would be a pointless and fruitless exercise. Now your skilled marketing person is going to have to develop a marketing strategy which aligns with the company objectives and then put this into practice, measure it, refine it and deliver results. They’re going to have to run your social media, write blogs, develop email campaigns, run your PPC strategy, manage your events, design your brochures and every other marketing task you can think of. They’re going to have to do it all unless you agree to spend even more money employing someone else to help.

But if you’re going to break even on your investment, even at this stage – your marketing activities will need to deliver you an additional £85,000 in sales over and above what would have come in without the new marketing strategy in place.  That means every £1 spent of marketing budget needs to deliver £4.25 in additional sales just to break even. That’s a pretty big task.

So what’s the alternative?

A fully outsourced marketing department is a genuine alternative. You’ll get access to a wide range of marketing experts with a variety of skill-sets. People who live and breathe marketing on a daily basis and are on the top of their game. You’ll have access to multiple people with real strategic insight who can help you better understand your organisation and how to communicate your message to your target audience. There’s no lengthy recruitment process, no hidden fees and just one, set monthly cost to pay… which we guarantee will be no more than 50% of the cost of employing someone and providing them with a marketing budget in-house. With a minimum contract of just 3 months, a 1-month notice period and the ability to increase and decrease your budget as and when the need dictates, we’re not only a low risk option, we’re also the strategic choice for many organisations who want to maximise their growth potential.

Businesshands outsourced marketing department services start from just £1,295 per month and that includes your marketing budget. Just imagine the level of marketing your business could deliver using our services, your marketing budget and just half of the salary you were about to dedicate to a full time member of staff.  For more information and to give your marketing the biggest boost possible for your budget, contact us today on 0207 458 4788 or email us at info@businesshands.co.uk.

Thanks for taking the time out to read this post. If you like it, don’t forget share it by hitting the button(s) below.

Chris

CEO – businesshands

How to maximise your business potential during uncertain times

Whether you were for or against in last week’s Brexit vote, one thing that we can all agree on is that there are uncertain times ahead as we move to disconnect ourselves from the EU. But uncertain times don’t necessarily have to be bad for business. In fact, with a bit of creativity and positive planning – you could get your business in the best shape ever. Here’s just 7 of many things you can do, not just to protect yourself whilst the dust settles, but to stride forward and maximise your business potential as your competitors sit around twiddling their thumbs waiting for answers.

Entice your customers into longer service contracts or into buying your product in bulk

Having a guaranteed pipeline of revenue is the perfect way to protect your business. If you have customers that are on a yearly contract and it’s coming up for renewal, entice them into a two or three-year agreement with a discount, free upgrade or some other special offer. You can also encourage customers whose contracts are not yet up for renewal to commit earlier to renewing by making a similar, time-limited offer. If you’re a business that sells a product, asking your customers to buy bulk “to guarantee a good price”, particularly in times of uncertainty is a no-brainer.

Look at exporting your good or services to outside of the EU whilst the exchange rate is low

You may not know this, but you can export services as well as goods and the UKTI are a perfect source of information and guidance on this. When the pound is week, your products and services become cheaper to foreign markets so if you’ve ever considered selling into new areas – now is the perfect opportunity to explore this further.

Bundle your products or services into something more enticing

McDonalds did it and it worked for them. If you’re selling individual lines of products or services, it’s time to think of your end market. Would they benefit from a product or service bundle/package at a discounted rate? We do exactly that here at businesshands with our outsourced marketing department services. Yes, your margins are thinner, but your turnover will continue to grow.

Use freelancers and outsourced service providers to enable your business to grow whilst minimising the risk

If you’re looking to grow, taking on a full-time employee when times are challenging poses a risk to the business. Instead look to freelancers, contracted staff and outsourced services providers to plug the gap and give you that extra flexibility to deal with changing economic circumstances.

Re-connect with former customers

The two easiest ways to get new business through the door are (i) upselling to existing customers and (ii) reselling to former customers. If you’ve had customers that have left you in the past few years, pick up the phone and find out how they’re getting on. Is there still a need for your product or service? If they’re with another supplier, what would it take to entice them to change?

Reach out to everyone on your database

Most organisations have databases (or at least spreadsheets) of client / prospect data they’re not doing anything with. Now is the time to make good use of it. Send everyone on your database an email to re-introduce your organisation and the products / services that you offer. If you need help with that, drop us a line here at businesshands on 0207 458 4788.

Spend more on your marketing

When economic times are uncertain, there’s a tendency to “close the shutters and bolt the doors”. Spending of absolutely everything gets put on hold until times improve.  But if you want to make the most of these times – you have to see this as an opportunity.  People still need your products and services and as other organisations retreat to “weather the storm” your marketing can make a significant impact in driving new business opportunities.

So there you go. 7 great ideas to help you maximise your business potential in uncertain economic times and there are plenty more ideas out there.  If you like this article, don’t forget to hit the button(s) below and share it and of course, if you would like help with your marketing – get in touch. We’d love to hear from you.

Thanks for taking the time out to read this post,

Chris

CEO – businesshands

3 kernels of wisdom from a true marketing legend

I was privileged to be present at a talk a couple of weeks ago, hosted by one of the world’s foremost authorities on strategic marketing – Professor Malcolm McDonald. Malcolm, who is now closing in on being 80 years old and still actively works on the operating boards of the world’s biggest brands. Not only that – he’s also the chairman of no less than 6 companies and has written over 40 books on Marketing, Sales and Account Management. Malcolm then, knows his stuff and during his long career – he has witnessed and assessed just about every marketing trend you can possibly imagine. So it’s with great pleasure that I’m able to pass on to you 3 kernels of wisdom from a true marketing legend.

Kernel No.1 Identify your core market

If you can delight this group, you will have a resilient customer base. Everybody has different needs and the broader your target group, the more generalised and average your product or service has to become to meet them. Average products delight no-one, so find your core market and commit to delighting just these people.

Kernel No.2 Define your ‘must’ target

Marketing targets for businessesYour ‘must’ target is an objective (usually turnover) that you absolutely have to achieve at a defined point in the future (typically either in 3 or 5 years from now). It’s not about projections – it’s about setting your business a bold and aggressive target and saying “no matter what happens – in ‘x’ years, this business must meet that objective”.

Once you have your ‘must’ target, you can compare it to the projections you have in place for your current strategy. The task then is to understand how to plug the gap between your current projected earnings and your ‘must’ target.

According to Professor Malcolm, there are only 4 ways in which this can be done.

  1. By increasing productivity (by eliminating inefficiencies or increasing the man-hours worked)
  2. By increasing market penetration (through more productive sales and marketing activities)
  3. By introducing new products (could be costly and has risks attached)
  4. By venturing into new markets (generally a high risk and costly strategy)

Kernel No.3 Answer the question “Why should I buy from you?”

Here’s a list of typical answer that 99% of companies will give you when asked this question:

  • We have better quality than our competitors
  • We have a great reputation
  • We get good results for our customers
  • We’re very responsive
  • You can trust us
  • We are innovative
  • We are the leading provider of….

If this is your answer, you risk sounding exactly the same as your competitors. You must be able to prove to your target audience that dealing with you will give them a distinct advantage – not merely help them avoid being disadvantaged. You need to deliver a true value proposition.

So that’s 3 kernels of marketing wisdom from a true marketing legend and in keeping with his advice, I’m going to leave you with the businesshands value proposition.

The businesshands value proposition

At businesshands, we offer a better standard of marketing and a broader range of marketing expertise then you would ever get if you were to spend the same budget on marketing personnel in-house. We also offer greater flexibility in terms of choosing and changing the blend of skills you need throughout the year and by allowing you to increase or decrease your budget as your needs dictate.

That means our outsourced marketing department services will put your business at a strategic advantage by (i) having better marketing skills (ii) by being agile and being better able to adapt to market conditions and (iii) financially – enabling you to spend more money in other areas of your business.

If you would like help with your value proposition, your marketing strategy or any other area of you would like to discuss our outsourced marketing department services, drop us an email or call a member of our marketing team today on 0207 459 4788.

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