Using Strategic Sourcing to Identify Value in Public Relations Services
PUBLIC RELATIONS SERVICES AND STRATEGIC SOURCING
Public relations teams have a variety of responsibilities, including creating press releases, monitoring media channels, and promoting the overall image of the organization. Each of these responsibilities is contingent upon a variety of factors that are in constant flux depending on market conditions. Having a strong public relations strategy can be essential in managing public opinion and effectively communicating your company values and brand. Public relations agencies conduct a wide variety of services for clients including:
- Monitoring Market Conditions
- Product Launch Market Preparations
- Brand Advocacy
- Public Affairs
- Corporate Communications
- Government Agency Services
- Crisis Management
Marketing departments face the challenge of balancing their everyday marketing responsibilities with those required for public relations activities. Source One’s strategic sourcing experts can help your company partner with an experienced public relations agency that will work with your internal marketing team to alleviate some of the responsibilities and provide competitive services.
PUBLIC RELATIONS SERVICES AND STRATEGIC SOURCING: MARKET INTELLIGENCE
Source One’s strategic sourcing marketing services team understands the importance of having a solid public relations strategy. Our strategic sourcing experts have worked with clients to identify public relations partners for numerous purposes, from everyday market monitoring to large-scale global product launches. We are trained to navigate through the wealth of public relations agencies to find the agency with the capabilities and experience to meet your organizations requirements.
PUBLIC RELATIONS SERVICES AND STRATEGIC SOURCING: SOURCING PROCESS
Working together with your internal marketing team, our strategic sourcing team can gain an understanding of the values and message that your company is seeking to convey and use this information to find an agency with the knowledge and experience to provide you with this service. Our strategic sourcing process includes the following:
- Collaborating to establish a scope of work that encompasses all public relations requirements
- Performing an agency search for potential agency partners with required core competencies
- Developing and executing Requests for Information (RFI) and/or Requests for Proposal (RFP)
- Evaluating and summarizing agency responses
- Coordinating on-site pitch presentations with scorecard evaluation methodology
- Conducting negotiations for competitive pricing and contracting
If your organization is in need of a public relations agency to alleviate the responsibilities placed on your internal marketing team, Source One’s public relations strategic sourcing experts have the capabilities and experience to provide the decision support necessary for evaluating agency options.
Strategic Sourcing Marketing Services
PHARMA PUBLIC RELATIONS
A large pharmaceutical company required a public relations agency to handle the communication plan for a new product being launched. The pharmaceutical industry is highly regulated and monitored, making public relations all the more essential in having a successful product launch outcome.Source One’s marketing services team conducted extensive market research and collaborated with the client’s brand team to establish a clear scope of work to meet project requirements.
Working together with Source One’s marketing services team, we were able to identify a public relations agency that could meet the client’s requirements for pre-launch and educational communications. Through negotiations, Source One was able to eliminate fees, acquire discounts, and help the client realize savings of 8.8% on their public relations activities.