Deciding on when to bring in external marketing procurement support can be difficult. It can be an expensive business and if you’re organisation / leadership team has never bought this type of service it may be difficult to assess whether it really will deliver the benefits you’re looking for.
Many businesses face this issue, it’s normally when they’re too small or lack the complexity to have specialised internal resource, but large enough that the level of complexity in the marketing they use demands that they need some external help. By not enlisting help they run the risk that they may not be getting the best value from their suppliers, and more importantly, may be leaving themselves open to risk.
We spent some time last week going through this process to try and understand and identify the conditions, including levels of complexity that would pinpoint where companies, and company types are on this journey.
This process has proven to be incredibly useful and has led to a number of conclusions.
- The range of spend and number of marketing channels used has a direct correlation to when support should be sought out.
- The growth curve has a direct impact on whether the company is likely to have sufficient talent in house to be able to handle the challenges
- There are a number of distinct phases in the journey – they can be broadly categorised as seen in the chart.
What’s clear to us, looking internally at clients past and present, as well as new targets is that with high growth companies they always feel the pain of growth and most often don’t realise that there is more that they could / should be doing.
To help, we’ve noted down some key questions, if you can answer yes to any of these then it’s probably time to look for some help.
- Objectivity: Are you internal teams always working at breaking point, leading to missed opportunities? Have they had time to form an objective opinion on what is considered best practice within the category?
- Expertise: Do you really have the in depth expertise within your organisation? Marketing is made up of many disciplines, being a great generalist will only take you so far.
- Speed or Scale: Do you need to move quickly? Is your organisation embarking on growth plans that are ambitious and challenging to a point where your internal teams will no longer be able to cope?
- Stealth or anonymity: Is your organisation working on plans that require a special team in place, programmes that require detailed marketing procurement support but can’t be disclosed to the wider procurement group?