Marketing Procurement iQ

What is Corporate Trade or Barter? A very useful and informative article for Marketing Procurement iQ by John Charlesworth, Director of Client Relations at Active International UK explaining how using corporate trade as a cost-free catalyst can address wider company challenges, without changing marketing budget, process, agency, or quality. Click on the link to read the full article https://lnkd.in/e5rX_Bth Cameron Swan Alexandra Beeden Elkie Brooks John Charlesworth

ESG & sustainability were second only to the impact of GenAI in terms of share of agenda at ProcureCon Europe Series Marketing Europe. Helen Thompson reports for Marketing Procurement iQ on the key takeaways. Use the link below to read Helen's excellent article, which looks at all the key discussion points from brands, agencies and industry bodies all hosting presentations, panel interviews, round tables and workshops. Topics covered were wide-ranging, including advertising accessibility, representation in the creative process, supplier diversity, supply chain sustainability, and modern slavery. But it wasn’t just a call to action that was shared: Procurement leaders from household brands like Procter & Gamble, Diageo, Danone, L'Oréal, Barclays, Suntory Global Spirits, and Reckitt opened up on the challenges and opportunities they see, sharing practical approaches and roadmaps for their peers to take back to their own organisations. https://lnkd.in/eJcB9B6n ISBA Bobi Carley Amy Nicklin Oliver Forder XR Extreme Reach Isabel Massey Alice Tomlinson Efrain Ayala Deaneesha Govender Intel Corporation Kevin Freedman Freedman International Tina Fegent (FCIPS) Izzy Safdar Louise Deane Jake Dubbins Conscious Advertising Network Céline Coupin Chauffeton Jade Wigmore The Rank Group plc Caroline Ghost

Writing on the Marketing Procurement iQ website Bruno Gralpois of Agency Mania Solutions says that it has never been more complex or challenging as a professional discipline. Selecting the right agency partner is no longer good enough for marketing leaders and CMOs to deliver on their brand’s mission and growth agenda, no matter how amazing that agency might be. The wake-up call, Bruno says, is now resonating with an increasing number of marketing leaders and CMOs, who are perplexed as to why working with the best agencies in the world is falling short of expectations. Agencies simply cannot deliver unless they, along with marketing teams, are adequately supported with the right tools and resources. Operational excellence in agency management is an ongoing commitment to improvement. It requires embracing principles and ways of working together that ultimately drive growth. Read the article in full for a comprehensive list of the most fundamental operational components. https://lnkd.in/eFSvevtr Taylor Pruitt

Interesting news today from Marketing Procurement iQ. Independent global media advisor, MediaSense, has entered into an agreement to acquire PwC UK's Marketing & Media Owner team, which will be its first major acquisition since Apiary Capital LLP acquired its majority stake in MediaSense. The acquisition will enhance MediaSense’s scale, capabilities and offering to clients, bringing PwC UK’s world-class client relationships and skilled and experienced team into the business. The move will see over 50 people from PwC joining MediaSense, including PwC Partner, Sam Tomlinson, who will join the MediaSense management team as Chief Client Officer. Commenting on the acquisition, Graham Brown, CEO MediaSense, says that “This is an exciting development for MediaSense and an important step in our ambitious growth plans. The acquisition brings us a talented team with complementary skills, capabilities and experience, and an impressive portfolio of global clients. Uniting these two leading businesses under the MediaSense brand will further cement our position as the world’s foremost media advisory business.” MediaSense was founded by Andy Pearch and Graham Brown in April 2009. Its specialist advisory and analytics teams empower the world’s leading brands to engineer greater productivity from their media investments and to design more agile and effective media operating models. Sam Tomlinson, PwC UK Partner and Media Leader added: “We are very much looking forward to becoming part of MediaSense. Over a relatively short period they have become one of the preeminent and most respected operators in our field; we share the same values and have a common approach built to deliver exceptional service and value to our clients.” Bill Shephard Helen Burke

The Association of National Advertisers has published a new report looking into the increasing use of Principle Media. To provide a comprehensive overview, Marketing Procurement iQ has published in full, the Executive Summary from the recent ANA Report, ‘The Acceleration of Principle Media’ in which the ANA says that principal media has been getting increased attention, and marketers need to be aware and knowledgeable To read the full Executive Summary and download the 46 page report use the link at the end of this post. The ANA says that the purpose of the report is to increase awareness and help educate marketers on principal media — the background, benefits, challenges, and guidelines — so they can make an informed decision about the role of principal media for them. Increasingly, advertising agencies are now acting as principals rather than agents. That means they acquire media — therefore becoming the owner, or “principal,” of that media — and resell the media to their clients. Changes in agency compensation models from marketers as well as pressure from marketers to extend payment terms and “drive media costs down” have led agencies and holding companies to accelerate the use of principal media. Although principal media has been getting increased attention, it has been around for at least 10 years. The 2016 ANA-commissioned report “An Independent Study of Media Transparency in the U.S Advertising Industry” from K2 Intelligence notes it extensively. According to an auditor, in the past 18 months, “it has been seen everywhere.” A fourth quarter 2023 article published by Digiday credits “a robust media buying business” for holding company growth. The article goes on to say, “The key takeaway here is that media often acts as the primary driver of growth for agency holding companies, perhaps because they derive margins from arbitrage around media buying.” To read full Executive Summary and download the full report visit https://lnkd.in/e2ebkzyN Bill Duggan Bob Liodice Peter Kenigsberg, MBA Jason Trubowitz Stephen Broderick Keri Bruce Manuel Reyes

In his latest article for the industry website Marketing Procurement iQ, Nick Sparey of Illumino Partnership looks in more depth at the Value vs Savings procurement strategy. Nick says that the recent study by the World Federation of Advertisers WFA highlights a growing dissatisfaction among Marketing Procurement teams at large international brands with their current KPIs. The study's findings indicate a shift in focus from cost savings to delivering value, but the results highlight a worrying trend with many being asked to deliver blunt or disconnected objectives that make it harder for Procurement to work effectively with Marketers and provide real value. And, Nick goes on top say, herein lies the dichotomy. Marketing Procurement has come a long way in the last five years and is now widely recognised as being critical to an organisation's profitability, operational efficiency, and strategic success. Both cost savings and value creation are therefore vital, but striking the right balance between them can often be the challenge. The article goes on to look at the key factors that contribute to balancing this tricky challenge. These being: ➡ Understanding what cost savings can deliver ➡ Where value creation fits in marketing procurement ➡ Balancing cost savings and value creation ➡ Embracing technology in the equation, including AI, Data Analytics and E-Procurement platforms and supplier relationship management (SRM) systems ➡ Value creation is procurement’s Holy Grail going forward. Ultimately how marketing procurement will play a more strategic role. To read the full article visit https://lnkd.in/eV8TJW_A #marketingprocurement