Role of procurement in unlocking marketing value

TrinityP3 Marketing Management Consultants
TrinityP3 Marketing Management ConsultantsFounder & Global CEO, TrinityP3 Marketing Management Consultants, Speaker, Commentator and Business Author
marketing management consultants
Procurement’s role in unlocking 
Marketing Value	

TrinityP3
June, 2014
© COPYRIGHT 2014
marketing management consultants
Defining Marketing Value	

R.O.M.I.
RETURN ON MARKETING INVE$TMENT
marketing management consultants
Not All Marketing is Equal	

MANY MARKETING FUNCTIONS ARE SIMPLY
SERVICE PROVIDERS TO THE PL OWNERS
BusinessUnit
BusinessUnit
BusinessUnit
BusinessUnit
Marketing
BusinessUnit
BusinessUnit
BusinessUnit
BusinessUnit
Marketing
Marketing
• BusinessUnit
• BusinessUnit
• BusinessUnit
• BusinessUnit
marketing management consultants
Procurement’s Role	

•  COST CUTTING
•  WASTE REDUCTION
•  PERFORMANCE IMPROVEMENT
marketing management consultants
Cost Cutting	

•  Look for the largest,
non-strategic spend
•  Before you cut, ensure
you understand the
value proposition
•  Cost cutting is
not the same as
waste reduction.
Tier 1:
Strategic
Partners
Tier 2:
Specialist Service
Providers
Tier 3:
General Service Providers
marketing management consultants
Cost Benchmarking	

•  Benchmark resource
use, resource cost,
media costs etc
•  Useful for identifying
waste and inefficiency
•  Dangerous if used for
simple cost cutting as
can hide the causes
marketing management consultants
Waste Reduction	

•  Look for process
duplication
•  Look for function
redundancy
•  Look for non-performing
outputs
•  Look for unaccountable
complexity
marketing management consultants
Creating Alignment and Compliance	

•  Calculate the
opportunity-cost lost
through current practice
•  Engage the supply chain
in the process to drive
efficiencies
•  Use rewards and
consequence to align
both marketers and
agencies to task
marketing management consultants
Performance Improvement	

•  Improvements in:
•  Goal setting
•  Targeting
•  Speed to market
•  Return
marketing management consultants
Balance Efficiency with Effectiveness	

•  Take an end-to-end view
of marketing process
•  From budgeting to
reconciliation
•  Implement regular reviews
on cost, process, and
results
•  Connect marketing,
agency and finance
ROMI
Quality /
Marketer	

Time /
Procurement	

Cost /
Finance
marketing management consultants
Summary	

1.  Define marketing value
2.  Work with the PL owners
3.  Use cost benchmarking
4.  Reduce waste in the process
5.  Improve value performance
$
marketing management consultants
For more information contact:	

TrinityP3 Pty Ltd
Sydney
+612 9964 9900
Melbourne
+613 9682 6800
Hong Kong
+852 3478 3982
Singapore
+65 6631 2861
Auckland
+64 9 363 2891
people@trinityp3.com
www.trinityp3.com
Trinityp3.com/blog/
@TrinityP3
TrinityP3
TrinityP3.StrategicMarketingConsultants
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Role of procurement in unlocking marketing value

  • 1. marketing management consultants Procurement’s role in unlocking Marketing Value TrinityP3 June, 2014 © COPYRIGHT 2014
  • 2. marketing management consultants Defining Marketing Value R.O.M.I. RETURN ON MARKETING INVE$TMENT
  • 3. marketing management consultants Not All Marketing is Equal MANY MARKETING FUNCTIONS ARE SIMPLY SERVICE PROVIDERS TO THE PL OWNERS BusinessUnit BusinessUnit BusinessUnit BusinessUnit Marketing BusinessUnit BusinessUnit BusinessUnit BusinessUnit Marketing Marketing • BusinessUnit • BusinessUnit • BusinessUnit • BusinessUnit
  • 4. marketing management consultants Procurement’s Role •  COST CUTTING •  WASTE REDUCTION •  PERFORMANCE IMPROVEMENT
  • 5. marketing management consultants Cost Cutting •  Look for the largest, non-strategic spend •  Before you cut, ensure you understand the value proposition •  Cost cutting is not the same as waste reduction. Tier 1: Strategic Partners Tier 2: Specialist Service Providers Tier 3: General Service Providers
  • 6. marketing management consultants Cost Benchmarking •  Benchmark resource use, resource cost, media costs etc •  Useful for identifying waste and inefficiency •  Dangerous if used for simple cost cutting as can hide the causes
  • 7. marketing management consultants Waste Reduction •  Look for process duplication •  Look for function redundancy •  Look for non-performing outputs •  Look for unaccountable complexity
  • 8. marketing management consultants Creating Alignment and Compliance •  Calculate the opportunity-cost lost through current practice •  Engage the supply chain in the process to drive efficiencies •  Use rewards and consequence to align both marketers and agencies to task
  • 9. marketing management consultants Performance Improvement •  Improvements in: •  Goal setting •  Targeting •  Speed to market •  Return
  • 10. marketing management consultants Balance Efficiency with Effectiveness •  Take an end-to-end view of marketing process •  From budgeting to reconciliation •  Implement regular reviews on cost, process, and results •  Connect marketing, agency and finance ROMI Quality / Marketer Time / Procurement Cost / Finance
  • 11. marketing management consultants Summary 1.  Define marketing value 2.  Work with the PL owners 3.  Use cost benchmarking 4.  Reduce waste in the process 5.  Improve value performance $
  • 12. marketing management consultants For more information contact: TrinityP3 Pty Ltd Sydney +612 9964 9900 Melbourne +613 9682 6800 Hong Kong +852 3478 3982 Singapore +65 6631 2861 Auckland +64 9 363 2891 people@trinityp3.com www.trinityp3.com Trinityp3.com/blog/ @TrinityP3 TrinityP3 TrinityP3.StrategicMarketingConsultants