Using Freelancers for Financial Marketing

I’m often surprised how de-sensitized people in the financial industry are to the prices of professional services. The high brow agencies they use don’t blink while charging 1500USD an hour and quoting 6 month timelines.

To be fair, due to legal and compliance, regulations and the sensitive nature of information, managers in the financial industry need to be able to trust the quality of work – and are willing to spend to be able to do that.

Even though you might use these types of agencies for some of the work, most work can be done much quicker, cheaper and better by freelancers (or small agencies). The ‘problem’ is that freelancers need oversight and direct management and almost the sort of field knowledge you wanted to hire in the first place.

If you have the time, by all means go ahead and find a freelancer. Sites like elance.com, guru.com and odesk.com have plenty of people with relevant experience but a search for ‘xxx + consultant OR freelancer’ will usually work as well. In addition, almost all knowledge needed to manage an effective project is available on the internet.

If you don’t have the time for management of these freelancers, the best thing to do is to find a temp project manager to do it for you. This person can then hire the freelancers as needed, make a project plan etc. You can find a person like this through specialist recruitment (on the function side, not industry side) or through the above mentioned sites. Of course what you would have just done is form a small agency. As you know, they also come ready-made.

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About Me

Thoughts on Direct and Online Marketing in the Financial Industry. By Bart Burggraaf. Bart is MD/Partner at MGL, a London based Financial Services Marketing Agency. The posts on this blog are the personal opinions of Bart Burggraaf and not the official view point of MGL or any of it's clients.