In Spain, SMEs and independent ventures represent virtually the entire business fabric. These so-called "startups" received investments exceeding 1.2 billion last year in 2018 (9 times more than 8 years ago). All of these businesses have plenty in common, but without a doubt, one of the most important concerns is how difficult it is for them to make themselves known. Very modest marketing budgets are commonplace in all such enterprises.
Experience tells me that this problem is exacerbated in the startup world, where it is normal to have only one cartridge to survive. In this sense, the high turnover in key positions such as that of the CMO can pose a problem that slows the pace of growth and significantly increases costs.
Marketing outsourcing is a very good option to solve this problem. It is a cheap and effective alternative that can be a life insurance policy at a time when growth and stability determine the success or failure of a company. Companies turn their marketing departments into specialised agencies. Companies have at their disposal all the services that cover the needs of the business at a much lower cost than hiring a full-time CMO. It ensures that they can stay on the cutting edge of marketing, allowing managers to focus on their business. It is a flexible option, which lays the foundations of a crucial department at a very limited cost and of optimum quality.
Marketing outsourcing is a very good option to solve this problem. It is a cheap and effective alternative that can be akin to life insurance at times when growth and stability determine the success or failure of the company. Companies would convert their marketing departments into specialised agencies. Firms could have at their disposal all the services that cover the needs of the business at a cost far below that of hiring of a full-time CMO. It guarantees that you can be up-to-date with everything marketing related, allowing those responsible for the company to focus on your business. It is a flexible option, which establishes the foundations of a crucial department at a very limited cost and at optimal quality.
Alberto Corcóstegui
CEO and Founder of No Limits Media/BIMADS and Associate Professor of Deusto Business School