The conundrum of staffing up or outsourcing your marketing talent can be a difficult decision to make. Consider these top reasons to – at least initially – lean on an external marketing partner to supplement your in-house resources with these 5 reasons to outsource marketing. It can save you time and money, as well as better position you for acquisition.
Avoid Rushing into Hiring Staff.
At times, it’s a more conservative and intelligent approach to supplement your existing marketing team with outside help during seasonal peaks in workload. Hiring staff can take time, money, training, and be an issue if your revenues don’t support the extra headcount nor your workload isn’t steady. The last think you’d want is to hire a couple of additional team members only to have to lay them off down the road. Instead, why not consider engaging a marketing services firm to help you through these frenzied times, with no obligation to retain their services after things quiet down.
Avoid the Distraction.
Filling out job descriptions, recruiting, interviewing, etc., can be a laborious process and consume time you just don’t have to devote. Instead, consider hiring a marketing firm that is already knowledgeable about marketing medical device and biotech products and services and can immediately make an impact on your projects with more than one person devoted to tackling your time-sensitive deliverables.
Find the Expertise.
There will always be need for training and having newcomers get up-to-speed on your products, services and objectives. However, that time commitment can be minimized by hiring seasoned medical marketing professionals that you would not otherwise hire as full-time staff. Supplement your own knowledge with others who understand the industry, the regulations, and the physician mindset. Look for a firm with experience in your care area or with knowledge of the disease state your offerings address. Find resources that specialize in product launches, product development, outreach, etc.
Operate as a Bigger Company.
Larger, stronger marketing teams can be a recruiting advantage to attract and recruit sales talent. Hiring a marketing firm that specializes in downstream commercial support can generate messaging, tools and programs that empower your sales team, operating as a larger organization than you currently are, but creating that nurturing sales environment.
Improve Your Desirability.
Working toward a liquidity event? Would-be suitors will scrutinize your hiring practices and the number of employees they’ll be inheriting with investment or acquisition. It can be a more strategic maneuver to engage consultants and contracted staff to accomplish your objectives, while minimizing your long-term headcount.
There you have it! These 5 reasons to outsource marketing should give you some very important considerations when developing your marketing department staffing plans. Depending upon your exit strategy, your budget, the seasonality of your workload, and other elements, weigh the pros and cons of staffing up your marketing team or outsourcing (or supplementing) your marketing talent with a reputable medical marketing firm.
Lisa Bichsel is founder and CEO of Bichsel Medical Marketing Group. Lisa offers each client her 35+ years of expertise in commercializing medical device and biotech innovations. Lisa and the team at BMMG work to differentiate their clients’ disruptive technologies, demonstrating the need for change due to increased efficacy, improved workflow, and positive impact to health economics.