Next Level Purchasing Association, a procurement training association, has recently launched a new course on managing marketing spend. This course was developed in conjunction with Source One, sharing some insights from our marketing spend category experts. The course will take you through best practices and sourcing tips for agency selection.
Even today, many procurement and sourcing groups lack visibility into marketing spend. Traditionally, marketing departments have always had a hands-on approach to managing their own suppliers, including creative agencies and printing firms. However, the tide is slowly changing and strategic sourcing has taken a bigger role in sourcing and negotiating costs with marketing service providers. In fact, Gartner released a report not to long ago stating that companies spent 10.4% of their annual 2012 revenue on overall marketing activities. With 2015 quickly approaching, the number is sure to increase.
This course will outline key steps both departments need to take to not only reduce spend, but collaborate and obtain buy-in from its marketing group to avoid any pitfalls. In fact, a major factor in any sourcing initiative should be reciprocal education — teaching each other about common processes to help streamline and improve buying decisions.
This course is offered to both NLPA and non-NLPA members for varying prices. To learn more about the course, visit http://nextlevelpurchasing.com/marketing-procurement.php.
To learn more about Source One’s marketing category expertise, visit http://marketing.sourceoneinc.com/.