Online marketing “Make or buy” for SEO and co.?
At some point, every retailer is faced with the question of whether to take online marketing into their own hands or to outsource the task to an agency. The “make or buy” decision, however, is not just about costs.
One challenge in the field of online marketing is that it exists in no single form. It is divided into countless specialist disciplines, such as search engine optimization (SEO), search engine marketing (SEM), affiliate marketing, search engine advertising (SEA) or re-targeting, to name but a few examples.
Each of these disciplines requires its own well-founded specialist knowledge, but this is continually changing. This is because the algorithms driving search engines are subject to constant small changes, as well as regular large-scale changes. The short “half-life” of knowledge in the field of online marketing affects all areas.
For companies that want to keep full control over their own online marketing, this is the most daunting challenge. Recruiting the right employees with the required profiles is a difficult task. And candidates demand good money for their expertise. For retailers in larger cities which offer an attractive work environment, the war for talent can be easier to win.
The question of “make or buy”, however, is not so easy to answer, as it is not solely dependent on economic considerations. Anyone relying entirely on external service providers enjoys advantages such as lower fixed costs, quicker effects and constantly updated knowledge. It is undoubtedly a disadvantage for retailers, however, to be bound to an agency and to lose money in the form of fees.
A company should plan its organization with an eye to the future. To my mind, this means that a company that outsources all digital competencies will not be able to survive in the future.
Consequently, I believe that an approach that reconciles “make” and “buy” can be expedient. In tangible terms, that means developing expertise in-house as far as possible and only occasionally calling in support. Take search engine optimization, for example: setting up adverts, defining budgets, placing adverts and monitoring their success are labour-intensive tasks requiring expertise. This is where cooperation with service providers comes into play. However, the knowledge should and must be developed in-house to ensure that work performed by agencies can be assessed and guided.
There are numerous examples of retailers and brands that have achieved impressive penetration rates and revenue in the field of online marketing through commitment and creative ideas. The “Online Marketing Rockstars” website regularly presents success stories. Posts on photo networks such as Instagram and Pinterest, on Facebook or on a well-managed blog help increase awareness and thus attract new customers. Taking measures doesn’t even require a particularly large budget.
My advice to companies would be: get as much support as necessary but, as far as possible, take matters into your own hands.
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