|
|
Like this article? PLEASE +1 it! |  |
|
The Importance of Strategic Marketing Consulting in Marketing Vendor Management
| Guest post by: Darren Woolley |
Article Overview: Strategic marketing consulting goes beyond the first steps of marketing procurement and uses as the foundation the strategic requirements of the marketing plan. Rather than simply looking at the suppliers engaged from a procurement, or sourcing, perspective the approach is to take a strategic view of the marketing requirements and then aligning the external and internal resources to best deliver these needs.
 |
Free Download - The Important Distinctions Between Relationship, Collaboration and Performance Benchmarking By Darren Woolley |
The Importance of Strategic Marketing Consulting in Marketing Vendor Management
There are two
types of strategic marketing consulting. The first is the development of
strategic marketing plans including product and service development, pricing
strategy, distribution and possibly the most high profile promotion and
advertising.
The second
type of strategic marketing consulting is focused more on marketing management.
Not the development of the marketing strategy, but the management of the
implementation. This is often where the largest investment resides for
marketing focused organisations.
The first can
be simplistically defined as effectiveness – developing marketing strategies
and plans to effectively deliver the business objectives for growth. The second
is about marketing efficiency, developing implementation processes, structures
and agreements to maximize the effectiveness of the marketing investment while
minimizing waste, duplication and cost.
Of course
efficiency without effectiveness is pointless. There is no point increasing
efficiency at the expense of effectiveness. But likewise a pure focus on
effectiveness without constantly monitoring and improving efficiencies means
reduced returns on that investment.
An article in
Harvard Business Review July-August 2005 showed that company strategy was only
60% realized in implementation as often the focus was on the strategic
development and not the implementation process. The same holds for marketing
strategy implementation, with many organisations suffering inefficiencies in
the process due to poor process management.
While there
has been an increased focus in this area with many procurement functions within
organisations targeting marketing spend for attention, often this amounts to
nothing more than cost reduction rather than increased efficiencies at the
expense of effectiveness.
Strategic marketing
consulting goes beyond the first steps of marketing procurement and uses as the
foundation the strategic requirements of the marketing plan. Rather than simply
looking at the suppliers engaged from a procurement, or sourcing, perspective the
approach is to take a strategic view of the marketing requirements and then
aligning the external and internal resources to best deliver these needs.
Having
established the strategic marketing structure it is then a matter of engaging
the various suppliers in the most effective manner possible to focus the
outputs to the marketing and organization requirements detailed in the
marketing strategy.
The type and
number of suppliers will depend on the requirements of the marketing strategy
and the financial investment respectively. The type of engagement will be
dependent on their suppliers’ role and level of strategic importance in
delivering the marketing plan and the defined outcomes. This will vary by
brand, market and category depending on the strategic requirements.
This approach
to strategic marketing consulting delivers an efficiency model and plan that is
perfectly aligned to the marketing strategy to ensure that both efficiency and
effectiveness are delivered.
Save Money with Vendor Consolidation
“Ten Strategic Tips For An Effective Internet Marketing Strategy From Your Strategic Thinking Business Coach”
“Ten Strategic Marketing Actions To Ensure Success In Your New Year, From Your Strategic Thinking Business Coach”
WHAT IS MANAGEMENT CONSULTING
Top 5 Must-Dos While Outsourcing Your Web Management Work
12 Strategic Questions To Ask Before Starting New Marketing Activity, From Your Strategic Thinking Business Coach
“Strategic Marketing Tips From Your Strategic Thinking Business Coach”
Developing Agency Solutions to Increasingly Complex Marketing Requirements
Ten Recommended Strategic Actions Needed Prior To Starting Your Professional Services Business
IS A CAREER IN MANAGEMENT CONSULTING RIGHT FOR YOU
How To Identify Your Marketing Barriers, Tips From Your Strategic Thinking Business Coach
Ten Strategic Actions To Change Your Marketing Mindset, From Your Strategic Thinking Business Coach
12 Questions You Must Ask Before Doing SEO
Ten Confessed Marketing Sins From Clients To Your Strategic Thinking Business Coach
How To Know If You Are A Strategic Marketing Communicator, According To Your Strategic Thinking Business Coach
Twelve Tips For Home Builders For More Strategic Marketing From Your Strategic Thinking Business Coach
Ten Strategic Actions For Commercially Marketing New Technology
Get This Book
Lessons Learned From Strategic Marketing From Your Strategic Thinking Business Coach
When buying a business you can ask for vendor finance
Referred by: http://www.meetmikeandmidge.com/?t=mmevcarbio
|
About the Author: Darren Woolley RSS for Darren's articles - Visit Darren's website During his 15 years as a writer and Creative Director, Darren developed brand and business communication strategies for a broad range of organisations. He was Creative Director at J Walter Thompson and President of the Melbourne Art Directors' Club for two consecutive terms. In 2000, Darren founded TrinityP3, Asia Pacific's leading strategic marketing consulting company with an international network of more than 30 industry professionals helping people to achieve commercial purpose through creative process. What that means is he leverages his extensive knowledge of the marketing and advertising industry, to help advertisers achieve maximum value from their budget by providing cost benchmarks, industry best practice knowledge, training and independent third party advice on agency selection and remuneration, media planning and buying, digital, direct and interactive marketing, TV and print production and public relations. Now a decade on, TrinityP3 is at the leading edge of decision making in the marketing and advertising industry that spent over $200 billion in 2009 and their client base includes more than 50 of the world's top 100 advertisers, with offices in Hong Kong, Singapore, Sydney, Melbourne, London and Wellington. With his background as both scientist and Creative Director, Darren brings a unique sense of process combined with creative purpose to his work. He has regularly been named in Australia's AdNews Power 50: The Most Powerful People in Advertising since 2005 and is a regular industry commentator contributing to numerous trade magazines. Click here to visit Darren's website   Five Reasons Agency Compensation Should Not Be Relationship Based The Important Distinctions Between Relationship Collaboration and Performance Benchmarking Increasing Marketing Supplier Performance Through Business Strategy Alignment Selecting The Right Advertising Agency Is Dependent On Access To A Comprehensive Agency Register Increased Marketing Efficiency Can Be Delivered Through Regular Process Benchmarking |
Related Forum Posts
Different Hats
- CEO Sales & Marketing & Leadership Development Company
Strategic Vision 10
Alliances & Growth Strategies 10
Hiring & Managing People 8
Mentoring 8-9
Strategic Planning for Clients 10
Execution of Marketing Campaigns 9-10 (i have great people who do the nitty gritty)
Financial Management 9
Bookkeeping 3 (outsourced as I really hate the fine details like GST0
Administrative Follow Up 6-7 (again have great staff)
Writing & Publishing 9 (getting better all the time!)
Speaking 10 (so I have been told)
Self Promotion 9-10
Web development & Promotion 6-7 (learning more and have brought on players who are 10+)
Babysitting Employees (1 - wont do it, that's why I work so hard to hire and motivate the people I have)
Great topic Kevin!!
Jude
Re: What is your Business?
- We are running a Online Marketing Firm and we have some good clients to which we are offering a complete Digital Marketing strategy like Search, Mobile Marketing, Branding and Design. I think in Online Marketing company online presence can be a wining factor for the success of the company.
Ryerson or McMaster?
- It's true McMaster probably does have a better reputation than Ryerson but after you graduate I don't think when you go to an interview the deciding factor will ever be the university you went to.
At least that was true in my case. I went to Ryerson and did their Technology/Business Program. I was employed the very next day after graduation not because of my grades (though that helps during co-op) or the fact that I went to Ryerson but because of what I brought to the table in terms of experience (part-time jobs I held while in school), social skills (verbal and written) and my goals.
Since 2003 I've worked in Marketing, Content Management and Consulting.
The Marketing program at Ryerson has some good classes and topics within it but entreprenuer on your resume if you plan on getting a job after graduation is going to be a tough one. BUT you can get around it by focusing on the classes you've taken and how you can apply them to any business.
I believe true Entreprenuership can't be learnt in a classroom by a Professor who's never been an entreprenuer (not saying the profs at Ryerson were never an entrepreneurs - some of mine were). It has to be learnt in the field.
If your move to Ryerson means you will be out of school faster, can take a 3 month vacation (which I missed out on but am planning for next summer) and then get a job or start your own thing then it sounds like a good deal to me BUT you need to decide.
Re: Let’s talk about the ways of marketing your products, servic
- I agree with some of the others who responded it depends on what your selling... but to answer your questions here are some of the methods I use.
Forum Marketing
Yahoo Answers (I need to use more of)
SEO (Search Engine Optimization)
Bum Marketing or Article marketing
P-P-C (Pay Per Click) Marketing
Online Directories
Hope this helps.
Re: Should Evan add a "Social Media Marketing" category to the f
- Hi,
Online Marketing would be a great title, and having sub categories would make it even better, there would plenty of categories to choose from, Social Media, SEO, Article Marketing and yes even Affiliate Marketing to name just a few,
great looking site btw Jeff,
take care,
Carol
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
by: 
How To Use Carbon Copy Pro As A Strategic Tool For Your Business
Best Automated Forex Trading Strategy
Build Your List with Joint Venture Giveaway Events
May 2012 Top 100 Social Media Experts to Follow on Twitter
What to measure to be phenomenally successful in business
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Ten Things You Can Do To Be a Better Leader
10 Golden rules to survive the Global Crisis
Mistakes Made by New or Inexperienced Sales Staff
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.