Digital market funnel for procurement

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hi I'm Lynn Rideout and I am part of Denalis client delivery services organization and today I'm going to talk to you about digital marketing just very briefly digital marketing is really very similar to advertising and other marketing agency spend areas that we might address in the procurement space really only difference is the medium is typically something like search or mobile tablet and other digital creative that you might think about so we're gonna go ahead and get get started really what the intent of today is is really just a focus on five Pro tips for digital marketing sourcing projects specifically so five areas that might be a little bit unique or might give you something to think about this can be really good if you've already been doing sourcing projects in this category it can also be good if you're brand new to the area and just want a few things to think about so those five key areas will dive right in the first area is scope requirements the pro tip number one about scope requirements obviously in the world of sourcing and procurement we tend to want really firm requirements we like black and white we like everybody kind of on as we call it the apples to apples comparison marketers typically like to leave a little room for creative when they're selecting an agency you really want to hear that creative pitch to hear what's unique about partnering with a given agency so there's purposeless and ambiguity so approach up number one is finding that right balance between firm requirements and leaving a little bit of opportunity for that that creativity one way that sourcing can really help or procurement is to really help to draft that that scope and take that out of marketing's hands so that's pro tip number one pro tip number two is around agency selection this can be just mind boggling it's huge the number of agencies that are out there different sizes shapes cultures and so on again an area that procurement can really take the load off of marketing is to sit down with them interview them understand what they're looking for in an agency what are some of those knock out questions in terms of industry experience or size or is it top tier do we want really unleash your boutique firm narrowing that down and then doing the heavy lifting to do some of the research there are great information for is out there agencies love to help their their case study portfolio the clients that they work with and some of their capabilities so procurements have no problem looking for this information and being able to cultivate that and give it back to marketing to help narrow down who are the agencies that they want to proceed with for a proposal process moving on to tip number three tip number three is all about visible value or ROI definitely not a good idea to come to marketing with this is how I want to save you money or here's here's the lowest possible cost that we can go with but ROI is really important the value for every marketing dollar becomes really really critical when you're in marketing and trying to make that dollar go a long way so talking about our why thinking about that value and then using that when you're evaluating suppliers can be really important and my pro tip here is really just to make sure that whatever you're doing in your proposal process that you're at least collecting priced cost information in a really transparent way first from supplier so here's one example of that where we're looking at a rate by roll example and years of experience and really then able to collect that from the different agencies and compare just as a even point of view for marketing to take a look at you can absolutely request alternate proposals and look at different ways or more creative ways of looking at the the price or cost components but really having at least a firm footing to be able to share that with marketing on an even playing field it's just a really nice way of adding value and making sure that there's at least consistent analysis taking place moving on to pro tip number four budget this can be a no-brainer of course you know we we just assume there's going to be budget we assume that we're going to do a sourcing project and then award based on on the results of that but that's not always the case and so it's good really upfront pro tip number four to sit down with marketing and make sure we understand the budget what is that budget is there a risk of it getting taken away is there a time sensitivity to that and then using that to at least help craft how we're going to approach the agency base so understanding the budget and and moving forward in line with that can be a really really important tool I can't tell you how many times they've gotten halfway through a project or heard of other people getting halfway through only to have the budget get restricted or reapplied somewhere else something like that and obviously that's something we want to avoid my final chip pro tip number five is around timeline again as procurement people we like to have a firm procurement process we like to make sure that we're doing things in a pretty risk-adverse and kind of step-by-step way marketing sometimes really needs to work fast they've got you know deadlines for new campaign launches things like that or again to the budget piece a budget that might go away in the next number of weeks months so on so sitting down and really agreeing on timeline upfront is important keep in mind particularly in the digital space digital projects may involve IT and marketing and other functions as well so making sure everybody is on the same page with that timeline is really really critical so those are really our five tips the one other thing that I'll add is it is important to note that as we're recording this we are currently experiencing the co vid 19 global pandemic so anything talking about marketing is really happening during a challenging time right now so what does that mean well in some cases it means that marketers more than ever before need to be doing marketing and they need to changed another existing marketing marketing that you know showed love large crowds of people showed you know concerts major venues sporting events things like that are no longer really applicable and marketers and brands have to to really think about maybe pulling those down and switching that marketing and being more sensitive to current times so there is still need for marketing digital is a great format because obviously we're all at home on tablets on phones socially distanced and and digital mediums are certainly something that we're looking at all the time so marketers can take note of that and really think about increasing some of their digital campaigns and changing those to be a little bit more sensitive to the times that we're in right now so more than ever you know digital becomes something to to think about and spending probably is still occurring as you think about it so really those are our five tips and a couple of caveats around today's current times I would love to connect and talk more about any of these things in a little more detail please feel free to comment below or certainly link to me in LinkedIn and that would be great thank you so much