Choosing a Vendor: 8 Key Points to Consider When You Need to Outsource

Even marketing departments at large companies will need to outsource some functions to firms who are more creative and resourceful in specific areas. Most of the time, this is a win-win: you complete projects that your department doesn't have the capacity to do while creating a relationship from which you can learn new trends, technologies, and niches in the industry. However, outsourcing can also come at a price: more palpable risks that the confidentiality of your business data could be breached,less control over the finished product, and higher costs. The four marketing executives featured in this ExecBlueprint discuss how their departments have benefited in their work with vendors to complete more complex and creative projects faster and, in some cases, cheaper. Their primary advice? Select the vendor carefully: ask for references, price quotes, and work samples — and try out first on small projects. Stay in touch frequently and pay on time. Finaly, don't get complacent: seek other bids, keep contract periods short, and assess performance to ensure you're continuing to receive your vendor's best price and efforts.