bpo future forward: 6 areas of opportunity in marketing procurement
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Post on 30-Jun-2015
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DESCRIPTIONWith the tightening of the global economy, companies are taking a different look at the way they invest their money. Certain areas, formerly exempt from budget measures, are being looked at with increased scrutiny in order to assist with making the bottom line stronger. The marketing department is one of those areas. Today, marketing budgets are being tightened and marketing managers are scrutinizing where to invest their dollars for optimal return. This is where marketing procurement comes into play. The marketing procurement space is a very slippery slope. This is due to two primary reasons. First, the area is very relationship-driven and emotionally sits very close to the stakeholder’s heart. Second, procurement professionals in this area do not typically migrate from the client side of the organization. Another reason is the perceived uniqueness of the marketing offerings. While most marketing campaigns are in fact unique, the process through which such campaigns are developed is not. And that’s where the opportunities lie – to deconstruct the process and get to the right procurement model. Here are six such opportunities.
- 1. THE SOURCING AND PROCUREMENT(S&P) SERIES6 areas of opportunityin marketingprocurementIn many companies, the marketing function is yet to be subjected to the rigors of process-drivenprocurement. This is because of the perceived uniqueness of marketing oerings. While mostmarketing campaigns are in fact unique, the process through which such campaigns aredeveloped is not. And thats where the opportunities lie to deconstruct the process and get to1. APPLY PROPER COMMODITYMANAGEMENT TECHNIQUES2. LEVERAGE INNOVATIVEPROCUREMENT TECHNOLOGIES3. OUTSOURCE MARKETINGPRODUCTIONthe right procurement model. Here are 6 such opportunities.Network with industry leaders at InfosysBPO.com/communityInfosysBPO.com/procurement_strategyLarge savings can be realized byevaluating production contractsagainst the parameters that relate tocost, quality, and time; whileexecuting all production-relatedactivities through third-partyprovidersFollow us @infosys_bpo#ProcurementEven in mature areas, such as printingin marketing support, techniques likecompetitive bidding, tiered discounts,and performance-based targets candeliver savings up to 15%6. BUILD A TEAM OF SPECIALISTSMarketing support and productioncan benet from technology-drivenprocesses like reverse auctions,e-bidding, aggregators/consolidatorsand e-catalogsLook for a BPO partner with categorymanagement consultants who comefrom the marketing business andpossess a deep comprehensiveknowledge of marketing operations4. APPROACH PROCUREMENT OFMARKETING SERVICES COLLABORATIVELYThe most successful negotiations willbe the result of a three-waypartnership between procurement,marketing stakeholders, andsupplier agencies5. IDENTIFY OPPORTUNITIES FROMSIGNIFICANT EXPENDITUREProcurement negotiations with deepinvolvement of agencies acrossconsumer, professional, and digitalmedia can deliver signicant savingseven with small percentage changes
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