Advertising Agency Strategic Sourcing Services
STRATEGIC SOURCING: ALIGNING CREATIVE VISION
Marketing is undoubtedly critical to fueling a company’s growth, whether the company is preparing for a novel product launch or seeking to differentiate its business from a crowded landscape. As the designer and developer of campaigns, the creative advertising agency is an integral driver of marketing initiatives. Chief Marketing Officers must select suitable and agile partners in this space, a task that is further complicated by an environment where continual change is the norm, choices are seemingly innumerable, and all agencies claim to be the most innovative.
Source One’s strategic sourcing servcies help ensure that our clients are working with a creative advertising agency whose vision and delivery are aligned with the objectives of marketing teams. In taking a customized approach to every sourcing and procurement engagement, we look for opportunities to obtain value beyond savings.
ADVERTISING AGENCY SOURCING BEST PRACTICES
Advertising is an investment to be nurtured, not a cost to be cut. Source One’s marketing sourcing professionals collaborate with business leaders to pinpoint opportunities with agencies and implement relationship-optimizing strategies.
- To deliver true marketing spend value and provide marketers a competitive advantage, the right partner must be selected.Source One emphasizes teaming with clients to understand their current and future needs for strategically sourcing creative agencies. Combined with our insight from working closely with creative shops, we provide marketers access to a constructive dialogue with the most suitable agencies in the field.
- Our goal is to encourage supplier relationship longevity.By serving as an informed conduit between marketers and advertising agencies, our marketing and advertising sourcing experts take into consideration factors beyond capabilities and experience, such as cultural fit and account management dedication. By clearly defining the expectations of both marketers and agencies, Source One’s creative agency sourcing team can help match your company with the right shop, resulting in a partnership that lasts several years. As both parties become better acquainted with each other and the business, the stage will be set for creative and strategic results that correspond more accurately to the needs of the business, ultimately increasing the value of the exchange.
- We have insight into agency compensation.With this insight into agency compensation models, we provide businesses with greater transparency regarding their money spent on creative, strategic, and management services, in addition to pass-through expenses.
SOME OF OUR PAST EXPERIENCE WITH SOURCING FOR CREATIVE AGENCIES:
Source One has extensive experience in helping clients optimize their relationship with agencies through strategic sourcing, including:
Conducting research and providing clients with in-depth market intelligence and benchmarking on agency capabilities, cost structures, contractual terms, and the relevant competitive landscape
- Collaborating with marketing and advertising leaders specializing in, among others, the pharmaceutical, global consumer products, and insurance industries
- Executing a customized and formal selection processes, with detailed scope of work and pitch presentation criteria
- Establishing standards to promote the effectiveness of Key Performance Indicators, defining methods to measure Return on Investment, and negotiating best-in-class agreements
Drawing from cross-industry expertise and diverse backgrounds, our in-house Marketing Strategic Sourcing Services team will collaborate with you to provide informed consultation on strengthening your agency relationships and help bridge the gap between great ideas and their fruition.