Outsourced marketing industry set to triple in wake of pandemic
Almost a third of (32%) of UK companies are now looking to outsource their marketing departments as a direct result of Covid-19. In an attempt to develop greater business agility and resilience, companies are increasingly looking to reduce risk through outsourcing.
According to research from Opinium and LiveArea, 10% of businesses already outsource their marketing department. Of the remaining market, 32% are now looking at the move, suggesting the outsourced marketing market could more than triple in the coming years.
While marketing is likely to become externalised, the research showed the areas businesses are not willing to outsource. Only 22% of businesses reported they would consider moving sales, while 24% said the same about customer service.
“Although the pandemic is ongoing, we are beginning to see long term businesses strategies emerge, primarily the widespread shift to agility and digital. Outsourcing not means businesses can scale if needed, but also bring in new capabilities and fresh thinking quickly and efficiently,’ said Elliott Jacobs, EMEA Commerce Consulting Director at LiveArea.
“Businesses across the UK will need to completely rethink their businesses. As no one can fully understand the implications of Covid-19, companies must invest in adaptability and resilience. Fundamentally, this means developing the ability understand market changes and react instantly. Only then can brand cope and even flourish in a post Covid-19 economy.” continued Jacobs.