Marketing has the potential to directly impact revenue and is one of the primary ways that companies communicate with their customers. So it is not unusual for agency expenses to be one of the largest areas of indirect spend. Naturally, executives want to ensure company investments with agencies are managed effectively. Enter Procurement. While Procurement and Marketing are both working towards increasing profits, the means by which this goal is achieved can differ. Procurement is often focused on reducing costs, while Marketing is usually more concerned with the quality of campaigns. Both approaches are critical to a company’s success and do not need to be mutually exclusive. This session will show delegates how to achieve a mutually beneficial relationship between Procurement and Marketing with trust, collaboration and transparency.
You will learn:
- Why agency transparency has become a priority for advertisers
- How risks can differ when working with small, independent agencies versus agency holding companies
- How to recognize non-transparent business practices and contracts
- How Marketing and Procurement can improve collaboration during agency negotiations
Categories: 2018 Fall - Rancho Las Palmas, Summit Presentations
SRC Type: Category Specific, Marketing Services, Sourcing Management, Stakeholder Engagement