What if OUTSOURCING is the Biggest Growth Hack of 2017?
Do you work in or run a creative/marketing agency? Have you ever considered outsourcing? How many times have you been forced to turn away new clients as your designers are overworked? Do you find it difficult to satisfy your clients with multiple design options and styles? We bet you wouldn’t disagree that to drive and sustain your business in today’s competitive landscape, you’ll need to find the right ‘growth hack’ strategy that allows for accelerated growth.
This is where growth hacking comes to your rescue! But, what does it mean? Growth Hack simply means using strategic tricks to grow your company or business. So, which of the many available growth hack strategies should you choose to grow your business? It should definitely be something that changed the game for a range of businesses across the globe in 2015.
Statistics You Should Note
Research shows that outsourcing was one of the biggest growth hack strategies of 2015, especially for small businesses and startups. It has been proven strategy for many companies to maintain a profitable bottom line. With the growing demand of outsourced services, we’re sure that soon, it will become a norm rather than an exception. And that realization is pushing a lot of marketers and companies to outsource their marketing, graphic design and other related requirements and focus on their core competence. These 5 stats will make you understand why outsourcing is the next big ticket growth hack strategy:
- 53% marketing executives plan to outsource their marketing. (Source: Hubspot.com)
- 78% small businesses believe hiring freelancers give them an advantage over competitors. (Source: Elance Survey)
- 27% companies outsource to cut costs. (Source: Intetics.com)
- In a survey, 90% businesses cited outsourcing as crucial to their growth. (Source: Economist.com)
- Outsourcing can increase productivity and competitiveness 10- to 100-fold. (Source: Economist.com)
Given these stats, it’s not difficult to understand why outsourcing has become the biggest growth hack for companies, especially bootstrapped startups and small business set-ups. Hiring experts of each field might cost a startup hundreds of dollars. However, by outsourcing to web designers, graphic designers, etc., you can save on a lot of big bucks and paperwork.
Here are some benefits why outsourcing is the biggest growth hack for small businesses and startups:
- Cost-effective: By outsourcing, businesses can avoid large expenditures their initial stages. In fact, a report by Johnchow.com reveals that outsourcing saves businesses 60% on overhead costs. There is no expenditure incurred on infrastructure or manpower. There’s no need to pay for office upkeep, utility bills, staff insurance coverage, taxes and leaves.
- Increased Productivity: As a business owner, your time and attention are limited. By outsourcing, you share your workload with others and are free to concentrate on your core competence. You get what you need from the industry experts and at the same time your core functions can be run productively in-house. Therefore, outsourcing can enable you to increase overall efficiency and productivity by 10- to 100-folds.
- Skills & Expertise: Finding talented people with desired skills and expertise to do your work at a reasonable rate remains daunting. So, does that mean you need to spend through your nose to hire excellent people? The answer is NO! Though there are no silver bullets to finding superbly talented staff on a shoestring budget, outsourcing can help you get access to an expert in the field. For example, if you’re a creative agency, you can’t hire different experts for different jobs. This is where design outsourcing services save you from the hassle of in house hiring while getting an expert in the field.
- Reduced Risk: When companies outsource their projects, they give away the accountability associated with the job, which eventually helps lower down the associated risks. Outsourcing to a crowd-sourcing marketplace such as eWorker gives a design agency, brand management firm, etc. the freedom to focus on other core activities of their business. In addition to lowering the associated risks, it also safeguards you against any copyright infringements associated with the design job.
- Time Management: A lot of businesses around the world depend on outsourcing due to the time management that it provides. Instead of paying for full-time staff, outsourcing allows you to pay for reasonably priced hourly rates or fixed rates for a certain jobs. Usually, outsourcing saves you 60% on overhead costs. For example, if you outsource a graphic design job at crowd-sourcing marketplace such as eWorker, you can get the work done for as low as $150, which is much lower than what most professionals charge.
So do you agree that outsourcing will continue to make waves as the biggest growth hack strategy for 2016? We’re sure the trend of outsourcing will adapt, evolve and outlast all other growth hack strategies in 2016. Outsourcing will give an opportunity to SAVE BIG and grow your business! Cheers to more savings, more options and a whole new window of opportunities in 2016!
If you’re a graphic design agency, web hosting firm, design studio, printing firm, brand consultant, ad agency, digital marketing firm, or even a small business set-up or a young startup, try to be efficient and resourceful by outsourcing this 2016.
Start outsourcing your projects on eWorker to reduce your operational costs and overhead expenses by around 10-15%.