Business after COVID-19 lockdown – the value of outsourced marketing
The COVID-19 lockdown has affected businesses across all sectors. Many enterprises have completely shut down their operations, while others have had to downsize in order to survive. This unfortunate situation is not without an end in sight, so once it gets resolved all business owners and top managers will need to react faster to bring their businesses out of hibernation and make a rapid comeback.
But this road will be full of challenges. Let’s analyze what’s going to happen and how outsourcing can alleviate this situation.
The economic impact of COVID-19 lockdown
Today, many experts agree that the COVID-19 outbreak will change business habits forever and after the lockdown, the market situation won’t be the same as before. A temporary freeze of the global economy is already visible, with most indicators pointing towards a global recession.
Of course, different markets were affected differently. For many B2C companies and producers of fast-moving consumer goods, the starting conditions will be better. Some industries are more crisis-resistant just because their products are always in demand.
But the vast majority of B2B companies, including the IT industry, will face multiple difficulties. Their customers are businesses that also struggled to survive during the lockdown. Their purchasing power will be lower, and they will definitely need some time to recover. Owing to these constraints, the market pie won’t be growing and companies will be able to increase their sales only throwing their competitors over the side.
Which steps need to be taken in order not to be outperformed?
The COVID-19 pandemic showed us the importance of remote operations in today’s business reality. The problem is that, even after the lockdown, the coronavirus may stay around, creating an atmosphere of uncertainty.
Outsourcing can be a solution for many businesses. Its remote-workforce nature gives needed flexibility and cuts company’s costs. That means not only savings on salary but also payroll taxes, social security, medical insurance, hiring and training costs, various bonuses and perks, which can significantly increase employee’s cost to company. Remote hands can help to avoid these expenses and concentrate all efforts on the core business. Companies that outsource their marketing only pay a service fee and don’t have any other direct or hidden expenses.
Additionally, enterprises don’t need to arrange remote working environment for this staff. Outsourcing offers this advantage from the start. The hired specialists immediately get to work in established remote conditions, so businesses can save time and effort to resume their operations.
The rise of outsourced marketing
After the lockdown, companies will experience shortfalls in funding and will need to optimize their operations and search for new ways to reduce expenses. As we reviewed before, outsourcing would stand ready to help them.
Some outsourcing branches, like IT services, are common and there are many companies that have taken advantage of it. But, indeed, businesses must go even further! Outsourced marketing looks like the next logical step. All online marketing and design activities don’t require a physical presence and can be done remotely to meet and exceed the requirements for development and adhere to the chosen direction of a business.
B2B companies have big departments, responsible for product presentations, online advertising, social media, search engines, copywriting, digital design, etc. All this work can be done by a dedicated remote team, giving all outsourcing benefits to the company.
As a result, marketing outsourcing services can become a foundation of the financial relief of businesses after the COVID-19 lockdown. The global market is following the process of natural selection now, and the companies that show a fast and flexible response to adapt to the crisis will have a unique chance to edge ahead of the competition.