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Presentation from Procurecon Marketing and Digital in London on June 3, 2014. Presented by Jason Heller.
Digital is changing the way clients and agencies operate, and as a result, the approach to compensation and agency relationship and performance evaluation and management is changing as well. Marketing and procurement organizations take heed -- the most important challenges to solve for are within your own organization. As procurement identifies ways to truly engage and partner with marketing - earning a seat at the proverbial table, the matrix structure that allows close collaboration between the marketing procurement function (marketing investment manager) and the CMO, CIO and CFO is more important than ever.
Beyond the organizational challenge, aligning on a combination of weighted KPI's is needed to facilitate proper evaluation and incentivize the best digital work from your agencies. Different contract terms are often necessary in digital to address growing data and technology needs as well as to encourage innovation and enable nimbleness.
Digital has nuances and complexity, but not nearly the amount of complexity that the ecosystem would leave you to believe.
Managing the digital marketing procurement process should not be taken lightly as it can unlock a significant amount of value.