Research conducted by Marketing Week has concluded that the current feeling shared amongst many marketers is fear as they face increased pressure to catalyse sales on shrinking budgets, as many companies have faced pressure to cut costs in the tough economic climate. Lyudmil Borisov, managing director of LGB Direct, the London based outsourced sales and marketing company commented on this, stating, ‘Investing time and money into advertising and promotional strategies is crucial for businesses in order to keep up with competitors. As businesses have naturally becomes more stringent with their financial plans in recession, alternative methods of managing sales and marketing functions are being considered, allowing the concept of ‘outsourcing’ to make a name for itself’.
Borisov, managing director of LGB Direct defines outsourcing as, ‘the practice of having certain business functions provided by an external company in replacement of traditional in-house departments’. Traditionally, outsourced areas for many businesses were Information Technology, Network and Telecommunications, Human Resources, Insurance Administration and Accounting. However, over recent years there has been a growing trend amongst businesses to outsource their marketing and sales functions. LGB Direct is just one of the businesses operating in the industry that has experienced vast success as businesses look for cheaper and more resourceful ways of achieving results through marketing and sales.
Other business owners explain that they will naturally become more concerned with the return on investment they achieve from their marketing efforts in times of economic uncertainty. It is vital that marketing becomes ‘more innovative and creative’ in order to maximise results and make the best use of the budgets they were given.
Lyudmil Borisov, managing director of LGB Direct, believes that this is where an outsourced strategy reins superior over more traditional methods or sales and marketing. Borisov stated, ‘Direct sales are an extremely cost-efficient way of producing instantaneous, measurable results. As a result outsourced marketing is a growing industry; it provides the marketing and sales functions for businesses that need assistance with growing a loyal customer base at a rapid pace’.
The growing success LGB Direct has enjoyed since its inception in 2010 demonstrates there is a clear need and demand for outsourced sales and marketing. The economic outlook suggests that many industries may continue to struggle over coming years as the economy dips in and out of recession. However, Borisov remains assured that the outsourced sales and marketing industry will continue to enjoy growth and success as yet more organisations adopt outsourcing as lucrative and efficient way of achieving brilliant sales and marketing results.