Of course everything has its place. DIY (Doing it Yourself) digital marketing (SEO, SEM, PPC) is the norm for small and startup businesses. Outsourcing is the norm once a business reaches a certain size. Most business go directly from DIY to Outsource, and that is a natural evolutionary process. The problem is, neither DIY nor outsourcing is the best solution.
How to calculate ROI for a PPC or Paid Search Campaign is something everyone learns usually after they already spent too much money. The beauty of Internet Marketing is that it is the only marketing that is 100% measurable.