Series: Unveiling and Solving Hidden Challenges with Your In-House MarCom Team

Co-author: Katherine Hood Strategic Visual Communications Leader & Designer | Brand Storytelling with Creative Excellence

Together with Katherine Hood , we’ve investigated the hidden challenges that may be affecting the outcomes of your B2B in-house MarCom team and offered strategies for resolving them. This includes tactics for staying aligned with product changes that may impact your campaign initiatives, emphasizing the necessity of regular updates and cross-functional collaboration with marketing. Also, we tackled the Agility Illusion and provided approaches to overcoming hurdles such as red tape and compliance issues that may slow down your MarCom team’s ability to be responsive. We are now spotlighting an often-overlooked topic: hidden operational costs. These costs can subtly undermine the efficiency and cost-effectiveness celebrated in our initial exploration. Let’s learn more about these hidden expenses to reveal strategies for more effective resource management.

The True Cost of Business: Navigating In-House Expenses

Here’s the deal: every business operation bears its costs – after all, as the old adage reminds us, you must spend money to make money. Whether we're talking tech upgrades or the latest marketing tools, these essentials keep the MarCom engine roaring. Take hardware, for instance. Typically, the advanced machines required for your MarCom team's operations come with a heftier price tag than the equipment needed for your accounting department. And when it comes to software, Adobe Creative Cloud might be the go-to, but its cost can cause a bit of sticker shock. It's worth noting that Adobe doesn't monopolize creativity; alternative and more affordable tools like Figma are increasingly in the mix for innovative projects – your in-house MarCom team would know best here.

Another critical, yet often neglected, expense is the training of your MarCom team. Much like a surgeon who sharpens their expertise with ongoing education, your team requires continuous training to keep your brand’s communication cutting-edge. While resources like Youtube are abundant, formally investing in our team’s growth not only enhances their capabilities but also demonstrates your commitment to their professional development. Remember, the price tag of these operations doesn’t vanish with outsourcing; it just changes the address. It’s all about managing these costs wisely to fuel your strategic journey.

Audit and Assess to Innovate: Streamlining Costs for Strategic Advantage

Time to bring out the budgeting magnifying glass. Regular audits can serve as a foundation for uncovering unnecessary expenditures such as unused software subscriptions. But true efficiency goes beyond mere identification; it requires a strategic approach to resource management. This includes auditing and assessing the return on investment for each tool and technology, ensuring that every expense directly contributes to achieving your MarCom objectives. This is especially critical when trying to keep pace with the rapidly changing landscape of available communication and technological tools.

So, where do you begin? The evaluation process can start with setting clear, measurable goals for each technology investment and assessing their quantitative and qualitative performance and impact. This can involve tracking metrics such as lead generation, conversion rates and the overall sales generated by the technology. Many tools have integrated analytics to monitor metrics, making it possible to gather insights into their direct contribution to MarCom’s success. Also, looking into the strategic value of technology enhancement of brand perception and customer experience is vital, and surveys and customer feedback for example can provide insights into the qualitative impact of these tools.

Comparing the cost of each technology against their benefits, both quantitative and qualitative, helps to make informed decisions of which tools should be discontinued and which may need to be upgraded. This also supports future-proofing technology investments by considering scalability, adaptability, and integration capabilities.

Finally, implementing regular review cycles of technology investments helps MarCom departments remain responsive and agile to changes in market trends. This can include trialing new tools before rolling them out for full adoption by the entire team or discontinuing those that no longer serve the department’s needs.

By using a comprehensive approach to auditing and assessing the ROI of tools and technology, MarCom teams can ensure their investments are directly contributing to the department’s objectives and optimizing its operations for better results and outcomes. ??

Taking Control: The Strategic Value of In-House Operations

We’ve often heard people in the corporate world ask, with all this hassle, why keep an in-house MarCom team at all? Our answer is emphatically because an in-house MarCom team knows the heart and soul of your business! As subject matter experts in the field of marketing communications, the better question is why not keep them? Take a step back and ask yourself, do I see this team as a service department or a valued business partner? Realizing the strategic value they bring means directing investments in technology and talent to give them the right tools to tell your brand’s story in the most effective way possible. This direct control becomes your strategic advantage, allowing your MarCom team to rise to the challenge of elevating your brand.

A Call to Share and Learn: Navigating Budgeting and Strategy Together

Now, we’re turning the spotlight to you. How do you manage the hidden costs of your MarCom department? Whether you’ve found ingenious ways to streamline operations or innovative strategies to leverage every penny for performance, your tales are as valuable as any treasure. Please share your insights and lessons learned on the voyage toward MarCom efficiency.