Podcast Audio Transcript
Alisha: Hello listeners, this is Alisha; thank you for tuning in to yet another exciting and informative podcast from us at Infosys BPM. Today, we are discussing about why outsourcing marketing operations adds value to CMOs. And to talk about this, we have here with us, Shyam Rao, AVP & Sr. Practice Engagement Manager – Digital Interactive Services. Welcome Shyam. How are you?
Shyam: I’m doing great, Alisha. Thank you for having me.
Alisha: It’s a pleasure Shyam. What is meant by Marketing Operations and why are CMOs considering outsourcing Marketing Operations?
Shyam: Marketing Operations refer to the processes and teams that help a CMO execute his or her vision and plan. For instance, managing and maintaining the company’s websites, social media pages and digital content or running digital marketing campaigns and thought leadership initiatives are good examples of marketing operations which bring the CMO’s brand and marketing strategy to life.
These constitute nearly 25% of the CMO’s marketing spend, and CMOs are considering outsourcing since this is a significant chunk of their budget, and there are possibilities to improve their RoMI or Return on Marketing Investments.
Alisha: Yes, that is a large percentage of their budgets and there is a good opportunity to explore outsourcing of Marketing Operations. What value do CMOs derive, beyond costs, by outsourcing Marketing Operations?
Shyam: That’s an interesting question, Alisha.
This is since while we definitely see a reduction of 30-40% in outsourcing marketing operations from expensive onsite locations or agencies to low-cost locations, the benefits are so much more than just cost reduction.
By consolidating operations across brands or geos, CMOs can bring economies of scale which help build efficiencies such as:
- Seasonality: This is a perennial issue for CMOs. Cross-trained teams can load-balance easily and provide CMOs with the agility to quickly ramp up campaigns or launches as required.
- Speed and agility: CMOs constantly require to change their campaigns and communications rapidly as market changes. Outsourced teams which work on workflow-based ticketed operations can easily manage changes and rapidly re-align to new requirements. These can also be monitored and reviewed on real-time dashboards which help CMOs take the right decisions. We have seen turnaround times for changes requested in live campaigns reduce by 40 – 50%.
- Transparency: Unlike agencies, outsourcing providers work as an extended arm of the CMO’s organization and provide clear details of how his or her budget has been spent. They can also provide details of the returns in terms of attribution metrics. Hence, CMOs know exactly where and how to prioritize his or her marketing spends over the year.
This can provide new perspectives and help CMOs identify areas of improvement and new opportunities to drive growth.
Furthermore, outsourcing allows CMOs to focus on core business activities while outsourcing non-core or time-consuming tasks to an experienced team, thereby freeing up valuable time and resources. The diversity of experience and expertise that outsourced teams bring to the table can provide CMOs with a competitive advantage and help them make informed decisions that drive business success.
Alisha: Another trend we see is an increasing investment in MarTech platforms.
How is this relevant in the area of outsourced marketing?
Shyam:It’s true that companies are increasingly investing in MarTech platforms, Alisha. ITES firms who are experienced in tech can combine tech and marketing knowledge to help better utilize the investments in MarTech and get better ROI for these investments. These platforms offer a range of tools and features that can automate manual tasks, streamline workflows, and provide data-driven insights to help marketers make informed decisions.
For example, Adobe and Salesforce Marketing Cloud are two popular marketing technology platforms that offer a wide range of tools and features for businesses.
Automated A/B testing, dynamic campaign abilities, and specific personalization and segmentation tools can help businesses create targeted and personalized marketing campaigns, automate repetitive tasks, and gain valuable insights into customer behavior.
Alisha: That’s quite true, Shyam. Could you touch upon how an outsourced team can be an extended arm of a CMO’s organization and support his larger team?
Shyam: As an integral part of the CMO’s larger team, the outsourced team can bring in standardisation and compliance of all marketing material and communications across brands and regions. The outsourced team brings diversity of experience and expertise; special abilities in benchmarking; and an outside-in view. These can provide a competitive advantage to CMOs and help them make informed decisions that drive business success.
Alisha: Yes, having that peace of mind is very important for impactful marketing operations for a CMO. Shyam, thank you so much for your valuable inputs in today’s podcast.
Shyam: It was a pleasure, Alisha. Looking forward for more.
Alisha: Dear listeners, if you enjoyed our podcast today, please don’t forget to share and like it on social media. Our social handles are mentioned in the podcast page. The podcast will be available on various platforms like Google Podcasts and Spotify, in addition to our website.
Also, if you have any queries, do reach out to us through the email address on the podcast description. Watch this space for more exciting podcasts coming up. Once again, thank you for tuning in, stay safe, sharp, and healthy. Have a nice day!