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11 April 2014 | Will Green
Facilitating improved ways of working is the top method marketing procurement professionals can use to promote their value, according to a study.
The ProcureCon Marketing 2014 Benchmarking Survey found more than eight in 10 buyers believed acting as a facilitator was the best way to develop relationships with stakeholders, followed by 76 per cent who opted for “bringing new ways of working to the table”.
The poll also revealed saving money was the top “value driver” in organisations, cited by eight in 10 buyers, followed by risk reduction (71 per cent) and innovation (68 per cent).
The report said: “Procurement must provide accurate and in-depth insights on a variety of supply market and supplier-specific risks, alongside delivering business as usual activity.”
While just over half of respondents said using procurement to buy marketing was mandatory for stakeholders, 50 per said buyers still had to “build up a trust and knowledge relationship” with colleagues in marketing.
“In this category of procurement, compared to other categories, trust with the stakeholders and knowledge of the market are critical success factors for delivery,” said the report.
Having regular meetings with stakeholders was the most popular method of maintaining relationships (70 per cent), but 35 per cent of respondents did not have a supplier relationship management (SRM) programme in place. But more than three quarters used supplier visits to keep up with the marketplace.
“Having an SRM programme in place builds links with stakeholders and business units into the suppliers/agencies, in order to have important dialogues about the past, present and future ways of working,” said the report.
Some 64 per cent of respondents said they used external consultants, with the most cited reason being a skills gap in the procurement team, but 68 per cent believed they should have this knowledge themselves.
Regarding the future of marketing procurement, more than nine in 10 said it was to “be an internal consultant, who works with stakeholders to look for solutions to their business problems”.