Our marketing procurement consultancy provides the core delivery process to our client base, delivering significant transformational benefits as well as actionable savings and value insights.Learn More
InsightSolutions™ is the Marketing Factory’s proprietary marketing analytics and effectiveness methodology and is designed to aid brands in establishing marketing and media effectiveness.Learn More
Our shared service procurement solution provides a unique marketing procurement methodology that allows businesses of all sizes to tap in to truly expert marketing procurement as required.Learn More
The Marketing Factory is a London based international management consultancy that provides solutions to a global client base across three core disciplines: Marketing Procurement Consultancy, Marketing Effectiveness & Analytics and shared Service Marketing Procurement. The company works across multiple industries with clients ranging from small and medium sized enterprises to Global 500 corporations.
The Marketing Factory is different from other procurement consultancies as it focuses on only one thing. Marketing Spend. Our specialists cover all marketing disciplines and have in depth category knowledge that helps us to help our clients to deliver outstanding results.
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As marketing procurement professionals we see this all the time. Suppliers trying to force spurious wording onto clients who don’t really understand what they’re signing up to. These small anomalies may seem fairly innocuous at the time, but the test of good contract comes only when the relationship is under pressure. Having a contract with clear wording and explicit language around key points is imperative to ensuring that when push comes to shove, everyone is really clear on what the intention was when the contract was signed. People move on, businesses change. The contract remains. As an example of why it’s really important to get this right I would cite a recent example. A new client of ours asked to conduct a general review of their marketing arrangements; a large part of the marketing spend was focused around media buying. Naturally our first stop was to look at the current contract, and ensure everything was contractually in good shape. This is where the problems begin. The agency in question (one of the largest in the world), had been working under a draft contract since the beginning of the relationship. There were a number of draft versions, but as happens, the people involved have move on and the draft contract stayed as just that, a draft. It was clear the contract had been put together by the supplier and worked over by the clients legal team, but had not been looked at by anyone with any commercial or category expertise. The issues that have arisen are profound, including the identification of hundreds of thousands of euros worth of rebates and...Read More
On today’s Adage there was a story about how rebates in the US are becoming more commonplace. Shock Horror! This practice is widespread in Europe and in particular in the UK, but i’m not sure this practice is that much of a concern if your procurement team has done it’s job properly. Having an experienced hand with you in the negotiations, and as part of the selection team, will ensure that the contract you get covers you off with regards to rebates and incentives. Agencies today do understand the role of the procurement department and when challenged (in the right way) are more than happy concede the point around rebates. Where there is a problem, and this is something that we see increasingly, is where the client is mid sized and doesn’t have the procurement support – or where they do it’s not sufficiently experienced enough in marketing procurement to spot or understand the pitfalls. Calling in a specialist doesn’t need to costs the earth and if you can only afford it on a tactical basis it will still deliver significant dividends when you sign that all important contract. the original article can be found here....Read More
The watchword in procurement for many years has been “savings”, and increasingly companies are looking past this to greater effectiveness. This priority has increased pressure on both the marketing and procurement functions, and certainly on how they work together. It’s clear that in many large organisations, procurement and marketing have been able to show substantial costs and efficiency improvements. Examples of the types of saving include supplier consolidation, contract review and implementation as well as supplier management and the introduction of tighter KPIs and SLAs. Despite these gains and the increase in profile of procurement, a recent study by Charterhouse shows that Europe’s top 500 businesses are missing savings opportunities worth over €700 million. Procurement are now finding themselves in the position, now that they have finished their core work, that any further cost cutting may actually impact on marketing performance. Clearly this is not a result that is acceptable and procurement is treading a fine line between assisting and disrupting. This balance is important, as overstepping will lead to a deteriorating the relationship between procurement and marketing. Innovation and wasted spend, the new procurement beachhead Procurement faces the challenge that for it to make an ongoing impact it needs to develop new and innovative ways to engage their internal marketing clients. We can see, and are working with a range of clients to bring this new relationship to the fore, by helping them understand their spend profile better and showing them areas where they can reduce the spend, but not the effect of the spend. For many companies this “wasted” spend is one of the areas where procurement...Read More
As a consultancy marketing procurement we are normally called in by companies to help solve a problem. It’s usually the case that they need to cut back costs in some form or another, so we’ll look through their data and speak to their suppliers to ensure they are getting the best value for money on all aspects of their marketing spend. Nine times out of ten, we will find that there are enormous savings to be had, working practices to amend and marketing activities to align. To the client, this all sounds great. We charge a fee that is comparatively insignificant to the savings they make, get on with the work and help their company to get the value for money they need. Job done. Increasingly, companies are bringing in external experts to turn around the fortunes of their struggling brands and businesses. I recently read an article based on Beatrice Lafon, who has built a reputation as one of the world’s top fixers having worked with retailers such as M&S, Dorothy Perkins and River Island to helping address the problems they face. More recently, Lafon has been setting down roots as the president of Claire’s Accessories Europe, where she is working on an essential recovery plan for the company. But why does it have to be like that? Why do companies wait for problems to arise before seeking help? This blog post was inspired after meeting with a potential client who was refreshingly ahead of the mark. They understood that they required help as they saw the future of their already struggling industry: one with difficult times ahead...Read More