No matter the scale, shape, history or trajectory of your business, if you deal in the education sector there are a number of compelling reasons why you should consider outsourcing some, if not all, of your challenges to a trusted third party. Here are what we believe to be the most significant.
- Benefit from additional commercial nous
Much of the innovation in the edtech sector comes from educators who have developed a proposition based on a specific market need that they themselves have experienced. Whilst they have insider knowledge that’s invaluable, they often lack the business acumen and experience of how to commercialise their idea. This could be anything from product development, business systems and processes, attracting new business leads, sales expertise or customer retention.
- Get access to years of industry expertise
We are frequently approached by commercially astute business leaders with a great product that’s suitable for education, and while they may be experienced in other vertical markets, they have no experience of the many nuances of the education sector.
By placing some of your challenges in the hands industry experts, who will serve as an extension of your team, you stand a better chance of seeing your vision turn into reality.
- There’s never enough time, but that shouldn‘t restrict growth
It’s normal for business leaders to have their own planned activities in mind, but lack the time, resources or experience necessary to execute on them effectively. Even the best ideas won’t deliver results if they’re not part of an over-arching strategy, that’s prioritised and put into action with precision.
An effective way to accelerate the growth of your business is to outsource some of your efforts. By working with an experienced partner, you can spend less time consumed by the detail and more time focused on the bigger picture – growing your business and increasing your bottom line.
- Being able to ‘flex’ on demand can really help you scale
Outsourcing some of your sales and marketing efforts to a third party equips your organisation with the ability to ramp up in response to new opportunities. This is an important consideration, given that many companies will struggle to scale to meet challenges with their current processes in the next few years.
Scaling is one of the biggest obstacles for any business. It’s often difficult to scale with in-house resource – and finding, hiring and training new recruits takes a considerable amount of time, effort and resources.
Then consider that the average marketing staff member costs in the region of £50,000 per annum. When you outsource your marketing, you can scale your strategy instantly and turn the resource on an off as you need to. And that also means minimising risk if you need to reduce overheads or scale back your efforts.
- It’s easy to evolve the shape of your team
You may have a good team in place that has historically done a good job, but when requirements change you may find that the existing team is ill-equipped to deal with them.
For example, you may need to alleviate bandwidth issues due to maternity or illness. Or you might have a new product, or commercial model, that is a complete departure from what you have done in the past.
Outsourcing not only allows you to augment your team on a temporary basis, but also affords you the expertise you need to plug any skills gaps or mentor and develop your existing employees so that you can keep pace with a shifting market or new technologies and techniques.
- Don’t view marketing as a ‘cost centre’ – it’s your ‘revenue engine’
The savviest business leaders don’t view marketing as an expense, but as an investment in growth. Whilst it goes without saying that there are costs involved with hiring a third party, the overhead is significantly less.
A major benefit of outsourcing to a partner like The Wisdom Partnership is that you gain access to an entire team of education market and subject matter experts – typically at much less than the cost of one full-time employee. Plus, there’s no cost for our ongoing professional development, or access to the latest tools.
- An outside perspective is always invaluable
It’s certainly true that you should never keep doing the same things and expect a different result. Outsourcing gives you the ability to tap into experience outside the scope of your existing leadership team or sales and marketing teams.
Bringing in external perspectives opens the door to fresh new ideas from a team of unbiased experts – with experience of working with countless successful brands in the market.
As well as giving you clarity on the bigger picture a third party can also get under the skin of the detail. And you can expect them to always tell you how it is from a neutral, un-biased, external perspective.
So there we have it, 7 compelling reasons why we believe companies should consider outsourcing. If any of them resonated, don’t hesitate to get in touch.
The Wisdom Partnership has unrivalled experience in the education sector. We have devoted our careers to helping businesses succeed in this very specific space — and possess the commercial expertise, operational resources and contacts – to turn your objectives into reality.