Be Proactive, Not Reactive!

Posted by on Aug 19, 2013 in Costing, Marketing, Procurement, Return on Investment (ROI), wasted spend

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...

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What is the value of marketing procurement to SMEs and growing companies?

Posted by on Jul 15, 2013 in Procurement, Shared Service Procurement

All departments add a level of value to your company. IT, finance, sales. These functions are all clearly defined in the corporate hierarchy and deliver on their mission day in day out. In a medium sized or growing business this may not be the case for procurement. Procurement is often seen as a function that can be developed later on and it then takes time for it to be seen for the value it delivers. Why is this? The truth is that most people assume that they know how to buy things; computers, stationery, print, office space etc. In the most part they are right, we spend our lives spending money and our perception is that we all do a good job. To be honest this is probably true and when the company is small, or the value of the purchases is low it’s probably ok to pursue this path. Procurement really comes in to it own when the value or significance of the purchase becomes such that overpaying, or buying the wrong item, will have a significantly detrimental effect on the company. It’s important to note that suppliers are in business to make money. For most suppliers, if they see an opportunity to make a sale, or increase...

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Shared Service Procurement for SMEs – Cost Transformation

Posted by on Jun 28, 2013 in Cost Transformation, Marketing, Procurement, Return on Investment (ROI), Shared Service Procurement

We live in a world where large corporates have the ability to leverage their size and scale across all areas of procurement. This drive towards a more and more unified procurement methodology is helping these companies to drive efficiency into their business in a way that has never happed before. We were recently at a marketing procurement conference in London (we were one of the sponsors) were there were about 160 specific marketing procurement practitioners, this was probably the largest single gathering of marketing procurement professionals in Europe, if not the world this year. What it showed us was the range and breadth of marketing procurement talent out there and the variety of, and level success, that can be achieved. It’s clear that the more advanced and forward thinking the company is, they’re more likely to have a dedicated marketing procurement function. We all know that marketing is complex and requires the procurement department to have a multitude of category expertise; Media, Print, PR, Events, Market research and so on. Where this expertise is in place, and is working well with their colleagues in the marketing department, it is possible to drive tremendous value into the marketing spend. It’s also clear for a lot of these companies that’s it’s...

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How do you deliver cost transformation in marketing spend? Comments Off on How do you deliver cost transformation in marketing spend?

How do you deliver cost transformation in marketing spend?

Posted by on Jun 7, 2013 in Marketing, Procurement, Return on Investment (ROI), White Papers

Too many cost reduction programmes fail to deliver in the longer term. In this white paper the Marketing Factory looks at the key steps to delivering cost transformation. Whilst cost management is vital in all areas of business, marketing spend should be at the forefront of this transformational process for many companies as it often forms the second largest area of spend within the business. Most companies have embarked upon some form of cost reduction programme, but a recent survey by the Marketing Factory shows 40% of all programmes fail in the short term and this rises to 60% in the medium to long term. So why do some companies manage to deliver sustainable results whilst others fail time and time again? To download the rest of this white paper click on the link below. Marketing Procurement...

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Marketing Factory sponsors ProcureCon Marketing 2013: Marketing Procurement Conference

Posted by on Apr 30, 2013 in Marketing, News, Procurement

Press Release For immediate release The Marketing Factory, a London based international marketing procurement and effectiveness consultancy has today signed up to be a sponsor of the forthcoming 2013 ProcureCon Marketing Procurement conference in London. The 2013 ProcureCon Marketing Procurement conference in London is Europe’s only dedicated procurement event for digital & marketing services and is an ideal platform for the Marketing Factory to showcase it’s procurement and marketing effectiveness offering. The Marketing Factory will be represented in panel discussions by founding Director Milan Panchmatia talking on the topic of “Sharing best practice on global agency compensation/remuneration methods and practices” The Marketing Factory focuses on three core disciplines: Marketing Effectiveness & Analytics, Marketing Procurement Consultancy and Outsourced Marketing Procurement. The company works across multiple industries with clients ranging from small and medium sized enterprises to Global 500 corporations. Over the past 20 years the team has built a uniquely powerful combination of marketing industry expertise, proprietary analytical models and technology solutions. The Marketing Factory provides its clients with innovative marketing effectiveness and procurement solutions that deliver high levels of ROI quickly. “We’re really excited to be able to be to sponsor this event as it covers a great agenda for the delegates including important topics such as agency remuneration,...

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