Last updated on October 26th, 2018
Are you a graphic design agency? How many times have you been forced to turn away clients as your designers are overworked? Do you find it difficult to satisfy your clients with multiple design options and styles? Well, we’re sure you wouldn’t disagree that to drive and sustain your business in today’s competitive landscape, you’ll need to find the right ‘growth hack’ strategy that allows for accelerated growth.
This is where growth hacking comes to your rescue! But, what does it mean? Growth Hack means using strategic tricks to grow your company or business. Ok, you get the meaning of it! But, the tricky question here is, which of the many available growth hack strategies should you choose to grow your business? It should definitely be something that changed the game for a range of businesses across the globe in 2015.
Designhill’s Design & Branding Perceptions Survey 2015 shows that outsourcing was one of the biggest growth hack strategies of 2015, especially for small businesses and startups. It has been proven strategy for many companies to maintain a profitable bottom line. With the growing demand of outsourced services, we’re sure that soon, it will become a norm rather than an exception. And that realization is pushing a lot of marketers and companies to outsource their marketing, graphic design and other related requirements and focus on their core competence. Still don’t believe us? Check out these 3 stats that will make you understand why outsourcing is the next big ticket growth hack strategy:
- 53% marketing executives plan to outsource their marketing. (Source: Hubspot.com)
- 78% small businesses believe hiring freelancers give them an advantage over competitors. (Source: Elance Survey)
- 27% companies outsource to cut costs. (Source: com)
- In a survey, 90% businesses cited outsourcing as crucial to their growth. (Source: Economist.com)
- Outsourcing can increase productivity and competitiveness 10- to 100-fold. (Source: Economist.com)
Given these stats, it’s not difficult to understand why outsourcing has become the biggest growth hack for companies, especially bootstrapped startups and small business set-ups. Hiring experts of each field might cost a startup hundreds of dollars. However, by outsourcing to web designers, graphic designers, etc., you can save on a lot of big bucks and paperwork. An article published at money.cnn.com reveals that an Elance Survey of 837 U.S. small businesses found out that the top three benefits for small businesses outsourcing their requirements include: cost savings, access to talent not available locally and faster hiring time. But a report by Economist reveals that outsourcing isn’t just about cost saving any more, it’s a strategic tool that may power the twenty-first century global economy. 36% companies outsource to avail the services of innovators and 37% companies outsource to seek growth in their endeavors.
Check out some benefits why outsourcing is the biggest growth hack for small businesses and startups:
- Cost-effective: Cost-reduction is something that almost every startup remains obsessed with. By outsourcing, you can avoid large expenditures in the initial stages of your business. In fact, a report by Johnchow.com reveals that outsourcing saves you 60% on overhead costs. There is no expenditure incurred on infrastructure or manpower. You don’t need to pay for office upkeep, utility bills, staff insurance coverage, taxes and leaves. Now, that’s a lot of money saved at your end.
- Increase Productivity: As a business owner, you’ll have limited time and attention. By outsourcing, you share your workload with others and are free to concentrate on your core competence. You get what you need from the industry experts and at the same time your core functions can be run productively in-house. Therefore, it enable you to increase overall efficiency and productivity by 10- to 100-folds.
- Skills & Expertise: It remains a daunting task to find the talented resources with desired skills and expertise to do your work at a reasonable rate. So, does that mean you need to spend through your nose to hire excellent resources? The answer is NO! Though there are no silver bullets to finding superbly talented staff on a shoestring budget, outsourcing can help you get access to an expert in the field. For example, if you’re a design agency, you can’t hire different experts for different jobs. This is where design outsourcing services save you from the hassle of in house hiring while getting an expert in the field.
- Low Risk: When you outsource your projects, companies give away the accountability associated with the job, which eventually helps lower down the associated risks. A good example here is design outsourcing jobs. Outsourcing it to a crowdsourcing marketplace such as Designhill gives a design agency, brand management firm, etc. the freedom to focus on other core activities of their business. In addition to lowering the associated risks, it also safeguards you against any copyright infringements associated with the design job.
- Time Clock Management: A host of businesses around the world depend upon outsourcing due to the time clock management that it provides. Instead of paying for full-time staff, outsourcing allows you to pay for reasonably priced hourly rates or fixed rates for a certain jobs. Usually, outsourcing saves you 60% on overhead costs. For example, if you outsource a logo design job at crowdsourcing marketplace such as Designhill, you can get the work done for as low as $199, which is much lower than what most professionals charge.
So there you have it: Our reasons for predicting that outsourcing will continue to make waves as the biggest growth hack strategy for 2016. We’re sure the trend of outsourcing will adapt, evolve and outlast all other growth hack strategies in 2016. Outsourcing will give an opportunity to SAVE BIG and grow your business! Cheers to more savings, more options and a whole new window of opportunities in 2016! May we see bigger, better things from 2016!
So, if you’re a graphic design agency, web hosting firm, design studio, printing firm, brand consultant, ad agency, digital marketing firm, or even a small business set-up or a young startup, try to be efficient and resourceful this 2016.
Start a graphic design outsourcing project now to reduce your operational costs and overhead expenses by around 10-15% without having to give away that the work has been outsourced.