Over the past decade, there has been a dramatic increase in the utilisation of media and communications services outsourcing. This growth is due to several factors, including the increased demand for customisation and efficiency in communication. As a result, business process outsourcing (BPO) companies specialising in the media and communications niche can provide a wide range of services, including email marketing, online advertising, and social media management.
Moreover, the global media and communications industry market from 2020 to 2025 expects to grow from $1.7 billion to $2.67 billion, with a compound annual surge rate (CAGR) of 9.3%. In addition, the market will be reaching $4.4 billion with a CAGR of 10.6% from 2025 to 2030. This is primarily attributed to the evolution in media consumption patterns due to the introduction of new genres, increased streaming services, and more diverse content.
Offshoring media and communications roles and services to a BPO provider can free up time for your in-house team to work on more value-adding activities and determine media and communications strategies that will enable you to capitalise on the expected market growth.
In this blog post, we will delve into why media and communications outsourcing is becoming popular among businesses. We will also tackle other important information related to outsourcing media and communications.
Keep on reading!
What is Media & Communications Outsourcing?
It involves engaging a BPO service provider to work on media and communication-related tasks. These tasks could be anything from web development, graphic design, social media management, multimedia design, digital marketing, and event planning, to name a few.
Why is the media & communications industry suited to offshoring?
- The media and communications sector rely heavily on media development and information streams to reach target audiences and grab the desired customer attention. To do so, companies invest a lot of money into their research development and marketing teams to attract the right consumers and get back the revenue they initially invested in campaigns and events, usually at the desired profit.
- You can digitally complete most tasks related to the media and communications sector. These tasks need software and computer programs to organise data, engage with customers and create content. These services can be cloud-based, so companies can easily communicate and liaise with their remote team, from delegating tasks to implementing productivity. The combination of cloud remote work and outsourcing can make it feel like your team is right there with you, not thousands of kilometres away.
- Your company can save up to 70% on recruitment costs by offshoring to the Philippines because of the lower living expenses. On top of this, media and communications staff require specific communication skills and qualifications to generate quality content effectively. Over 33 universities and colleges offer marketing degrees, courses and qualifications in media and communication within the Philippines.
- An optimal investment would be 5% – 10% of the money to enter media and communications services for your company. This can be quite an astonishing amount for corporations to invest with no guaranteed ROI. Considering this figure doesn’t include software maintenance or employment expenses, outsourcing is a solution many companies undertake to lower overheads to sustain the level of investment necessary to attain growth.
What are the frequently outsourced media and communications services?
- Social media management
- Content creation
- Copywriting
- Editing
- Proofreading
- Graphic design
- Web design and development
- Video production
- Video editing
- Email marketing campaigns
Why Outsourced Media is Becoming Popular
There are several reasons for the popularity of outsourcing media and communications:
Cost-Effectiveness
Hiring a BPO vendor to manage your media and communications needs is often more cost-effective than hiring in-house staff. This is because agencies have economies of scale and usually get discounts on advertising and other services.
Access to Specialist Skills and Knowledge
When you outsource media and communications, you have access to a team of specialists with various skills and knowledge. This can be particularly useful if you need more internal resources to manage a large or complex project.
Flexibility
Outsourcing media and communications to a BPO company allow you to scale up or down your activity as needed. This can be helpful if you have fluctuating demands on your time or budget.
Freeing Up Management Time
One of the main benefits of outsourcing media and communications is that it frees up management time. This is because managers don’t have to worry about day-to-day tasks such as writing press releases or creating social media content.
Access to New Technologies
When you outsource your media and communications tasks, you can gain access to new technologies and tools that you may not have had access to before. This can help you stay ahead of the competition and better serve your customers.
Improved Quality
When you outsource to a specialised agency or freelancer, they will likely have a higher level of expertise than your in-house team. This improved quality can help you to achieve your marketing and communications goals better.
Increased Efficiency
When you outsource your media and communications tasks, you can free up valuable time and resources within your organisation. In addition, this increased efficiency can lead to increased profits.
What are the top trends for media and communications outsourcing?
- The increasing demand for personalised content
- The need for real-time engagement
- The continued growth of social media and its impact on communications strategies
- The rise of mobile communications as the preferred platform for accessing content and engaging with brands
- The importance of using data analytics in understanding customer behaviour and developing targeted marketing campaigns
- The need for more agile, adaptable approaches to outsourcing that can respond to rapidly changing market conditions
Challenges in the Media and Communications Industry
The media and communications industry is in a state of flux. Here are some of the challenges it faces:
The Ever-Changing Technology Landscape
Technology is evolving at an unprecedented rate, which is having a significant impact on the media and communications industry. From new platforms such as social media to changes in how people consume content (e.g. streaming services), there are constant challenges for businesses to keep up with the latest trends and ensure they are using technology most effectively.
The Impact of Globalisation
Globalisation is significantly impacting the media and communications industry, with businesses now operating in a truly international marketplace. This brings opportunities and challenges as companies must adapt to different cultures and markets.
The Need to Adapt to New Platforms and Formats
As more people consume content on mobile devices, media companies need to find ways to deliver their content in a format they can easily sip on these devices.
The Rise of Social Media
Social media platforms have become a powerful force in the media landscape. Some of its best uses include distributing content, engaging with audiences, and building customer relationships. But unfortunately, they can also be a source of misinformation and fake news.
The Need for Speed and Agility
In a world where news can break at any time–thanks to social media–media organisations need to be able to respond quickly. This means having the right systems and processes in place and the right people with the skills to react rapidly and effectively. Likewise, in an industry where change is the only constant, they need to be able to move quickly and adapt their strategies as necessary. This means being open to new ideas and different ways of working.
The Battle for Attention
With more channels and content available than ever, it’s becoming increasingly difficult for media organisations to cut through the noise and reach their audience. They need to find new ways to capture–and keep–people’s attention.
Increase in Competition
The growth of digital media has led to a massive increase in organisations operating in the media and communications industry. This has made it much more competitive, with businesses working harder than ever to stand out from the crowd.
Fight for Advertising Revenue
As traditional sources of advertising revenue continue to decline, media organisations are under pressure to find new ways to monetise their content. At the same time, they need to be careful not to alienate their audience with too much commercialisation.
Growth of Fake News
Fake news is a problem affecting all parts of the media industry. It refers to false or misleading information spreading online. Fake news can have serious consequences, influencing elections and causing public panic.
The Rise of Alternative Facts
In an age of fake news and alternative facts, it can be difficult for media companies to know what to believe. This has led to a loss of trust in the industry and a decline in traditional forms of journalism.
Importance of Trusted and Quality Content
With the proliferation of fake news and misinformation, it’s more important than ever for media organisations to obtain trustworthy sources of information. This means being accurate, impartial and fair in their reporting.
The Need for Creativity
With the ever-changing landscape of the media and communications industry, it’s more important than ever to be creative to succeed. This can be a challenge, but it’s also an exciting opportunity.
The Future of the Media
The media landscape is constantly changing. It is hard to predict what the future will hold, but it is clear that traditional forms of media will continue to decline while new and innovative platforms will continue to grow.
When to Consider Media and Communications Outsourcing
For many small businesses and organisations, the idea of outsourcing media and communications is a daunting task. After all, these are the two areas that are critical to your brand identity and reputation.
However, there are several factors to consider when determining whether or not outsourcing media and communications is the right move for your company.
You Don’t Have the Internal Resources Needed to Effectively Manage These Functions
If your organisation needs more in-house resources to handle media and communications effectively, it may be time to outsource. A good communications firm can provide the workforce and expertise you need to get the job done right.
You Need Specialised Expertise That You Don’t Have In-House
Suppose you have limited experience in the media and communications field. In that case, it may be worth bringing in outside help to ensure that you can represent your brand properly.
A Need to Reduce Costs
One key factor is cost. In-house teams can be expensive to maintain, especially if you have a lot of employees on staff. By outsourcing media and communications, you can save money on overhead costs.
You’re Dealing With a Crisis
It is essential to have experienced professionals on your side who can help you navigate the situation and protect your reputation.
You Do Not See Results From Your Current Strategy and Efforts
If you’ve been handling your media and communications but have not been happy with the results, it may be time to bring in some outside help. An experienced outsourcing firm can help you develop and execute a more effective strategy that gets effective results.
You’re Ready to Take Your Communications to the Next Level
Working with an experienced outsourcing partner can help you get there. They will bring fresh ideas and perspectives that can help take your organisation’s media and communications efforts to new heights.
Common Mistakes to Avoid With Media and Communications Outsourcing
Unable to Define the Scope of Work
Be sure to clearly understand what you need from your outsourced partner before signing on the dotted line. This will help avoid any misunderstandings or scope creep down the road.
Doesn’t Check the References
Always check references! A simple Google search can go a long way in helping you vet potential partners. Also, make sure to read online reviews and see if the company has any complaints filed against them.
Not Having a Backup Plan
Things happen, and sometimes outsourced partners need to work out. So have a backup plan if you need to find a replacement quickly. This could mean having contact information for other firms or freelancers who could step in on the short notice.
Not Negotiating to Price
Don’t be afraid to negotiate pricing with your prospective partner – especially if you’re working with a large company. You may get a better rate by bundling services or agreeing to a long-term contract.
Not Communicating Enough
One of the most common mistakes when outsourcing media and communications is not communicating enough with your team and service provider. It is vital to keep everyone updated on your project’s progress and provide feedback when necessary. If you communicate, it will be easier to ensure that your outsourcing effort is successful.
Not Being Involved Enough
Another common mistake is not involving enough in the process. It is important to remember that you are ultimately responsible for the success or failure of your outsourcing effort. Therefore, stay involved and monitor the progress of your project so that you can make any necessary adjustments along the way.
Conclusion
To wrap it up, outsourcing media and communications have become a popular trend because it allows businesses to save money while still providing high-quality content. Companies can find the perfect solution for their specific needs, whether it’s copywriting, video editing, or SEO marketing.
To achieve the finest results, it’s best to partner with The Lead Enquiry and connect with our BPO provider partners’ experienced staff and top-notch tools as you concentrate on growing revenue with your most profitable customers. Contact us today.
