Procurecon Marketing EU 2021 Blog
The only conference for marketing procurement decision makers. It truly is.
In June of 2019 over 200 of these decision makers descended upon the official home of England Rugby – none other than Twickenham Stadium itself.
Under the stewardship of the World Federation of Advertisers (WFA), 17 of the world’s leading advertisers, Google, and other tech giants are forming a Global Alliance for Responsible Media. This strategic partnership marks the first time that organisations representing all sides of the industry are combining their efforts toward a common purpose. That purpose will impose responsibilities for ethical, responsible, and sustainable procurement practices, on all organisations subscribing to its terms.
Manual data entry and the need to manage requisitions over a wide range of departments can pose significant challenges to driving cost and process efficiencies.
In this post, we look at how Vodafone has been using artificial intelligence and robotic process automation to improve its procurement operations.
Data forms the backbone of all modern industry and it gets put to work in a multitude of ways – from well-known applications such as targeted advertising and customer databases, to slightly more esoteric forms such as blockchain technology. Vodafone using data to improve the way in which it processes purchase orders, empowering the company to be able to deliver effective marketing and better serve its customers.
A creative review can be a great way to get fresh ideas and perspectives on how your marketing budget is assigned. It doesn’t necessarily mean abandoning your current provider either, as, like Volkswagen, you can bring the best of several agencies together to produce great results.
The adage used in social media marketing is to “Be where your customers are.” Understanding your demographic and focusing your efforts on the platforms your customers are already using – Snapchat for young people, LinkedIn for professionals, etc. The same applies to other types of marketing as well.
The digital revolution has completely transformed the way media is consumed. Print, TV and cinema are no longer the prime targets for marketing. Given this current commercial atmosphere, it’s crucial that marketing procurement embraces contemporary strategies.
With digital advertising tech developing faster than companies can procure it, many are turning to start-ups to work more flexibly with changing trends.
The Digital Revolution is Advancing at Breakneck Speed: Here’s Why Marketing and Procurement Need to Face it Together
Managing the relationship between marketing and agencies is a delicate operation, and it can take time. But without the disruptive technologies agencies and start-ups have to offer, marketing teams are at risk of being left in the dust of their competitors.
While agencies and procurement eased through cost-cutting exercises over the past decade, it’s the former that managed to laugh all the way to the bank. Never once did procurement realise that the last hurdle impeding its advancement would ironically be none other than, ‘marketing spend’.