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"The Point" is written by BMP Editor Kelly Barner as well as a diverse group of guest contributors.

Recommended Procurement Webinars June 24-28: Digital ROI, Metrics that Matter, Tantrum-Free Marketing Spend Management

After last week’s craziness, we’re returning to a normal summer rate of procurement and supply chain webinars. As an FYI, I don’t currently have any events listed for the week after, most likely because of the July 4th holiday in the US. Assuming that doesn’t change (especially at the last minute), there won’t be any webinar recommendations on July 1st, bit I’ll pick right back up with them the week after.

If you are planning your webinar schedule beyond this week, I recommend ‘AI Driven Contract Management – Speed and Control CAN co-exist’ from IACCM and Ultria on July 9th at 2pm ET.

BTW: If you haven’t already, sign up for our mailing list to be sure you get my weekly recommendations in your Inbox each Monday.

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Momentum and Sustainability Create Impact: How Marketing and Procurement Can Deliver Business Growth (Part 2)

In part 1 of this series, I addressed the misaligned nature of the past relationship between procurement and marketing – as well as the disruptive potential for companies that can bring these two teams together. In this post, I will build on the intangible steps marketing and procurement can take to work as a more cohesive partnership by discussing what they can really do to harness collaboration?

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Momentum and Sustainability Create Impact: How Marketing and Procurement Can Deliver Business Growth (Part 1)

We’ve seen a recent trend of Fortune 1000 companies reducing their agencies by almost half to optimize spend and increase productivity within marketing.  This has been a gradual, strategic consolidation effort to improve the effectiveness of their investments. 

Although marketing budgets are experiencing significant cuts, it is critical to understand marketing is a complex—arguably THE most complex—spend category, and procurement must not treat it the same as other spend categories.  As Jon Moeller, CFO of P&G explained about its consolidation efforts, “we are not looking for cuts, but to shape spend to increase efficiency and effectiveness.”  This statement may beg repeating as 94% of procurement professionals continue to focus on cost-cutting metrics as the key measurement of success, according to an ANA survey.  A cost-only focus may significantly reduce marketing ROI and deliver poor brand performance.  To maximize the benefits of both departments’ strengths, marketing and procurement have to focus on ONE underlying theme: teamwork.       

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Recommended Procurement Webinars April 15-19: Empowering the Future Supply Chain, Marketing Mindset and Innovation Loss in Manufacturing

After last week’s busy schedule – including a number of webinars and the ISM conference in Houston, this week falls back to a slower pace. I’m seeing a ‘clustering’ effect for the next two weeks, where a bunch of webinars are being offered, but they all seem to overlap. Even this week’s three recommended events all occur on Tuesday within a three-hour window.

If you are planning your webinar schedule beyond this week, I recommend ‘Accelerating Supplier Enabled Innovation – Harnessing the True Power of Supplier Relationship Management’ from Zycus and Four Pillars’ David Atkinson on April 23rd at 11am ET.

BTW: If you haven’t already, sign up for our mailing list to be sure you get my weekly recommendations in your Inbox each Monday.

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Groundbreaking action that truly drives the greatest change for women

Editor’s note: March 8, 2017 has been designated International Women’s Day. This year’s theme: #BeBoldforChange is a call to women in all walks of life to push boundaries and recognize the inspiring women in their lives. In honor of this day, Buyers Meeting Point welcomes Odesma Marketing Executive Ashley Brennan and UK Marketing expert Annie Spilsbury to celebrate the accomplishments - and discuss the opportunities still to be seized – in the following post.

To celebrate this years International women’s day campaign, #beboldforchange, Annie Spilsbury talks about why it is important to her and what women have inspired her to become who she is today and strive to achieve in the male dominated industry of Procurement.

Annie Spilsbury is a leading UK based expert in the procurement of Marketing services, and has a long association with Odesma, and with Odesma’s founders. She has extensive above and below the line procurement experience in the acquisition of marketing services and has provided support most recently to Odesma’s client Brambles across the World.

Annie is mum to two young children (under 5), who more than significantly keep her on her toes! When she has some spare time Annie loves horse riding, the gym, swimming, yacht racing, gardening, socialising and having family fun. This year Annie plans to test the tribe on music festivals so as life grows, so do their experiences.

Odesma offer a new breed of procurement advisory which ensures you stay ahead of the market and improve more than just your bottom line. With nearly 100 years in the procurement business and experience in every industry imaginable, Odesma offers procurement as a service by bringing together leading subject matter expertise, technology, governance and leadership in a way that is tailored to the needs of any organisation.

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A Deep Dive into the Cost Drivers of a Direct Mail Program – Part 2

Direct marketing is not a new advertising strategy, but the associated tactics often change with the latest trends and technologies. Direct mail is one tactic under the direct marketing umbrella that has stood the test of time despite the shift to digital in most other areas of the advertising space. This post is the second in a series of two that discusses direct mail as a tactic and the cost drivers that impact the cost of executing one of these programs. You can read part 1 here.

As we described previously, there are four main cost components of a direct mail program: mail lists, creative and design, print and lettershop, and postage. There are different strategies for each of these and managing the costs of some are more complicated than others. Mail lists and postage are the two components that require more than a standard sourcing process in order to identify areas of cost reduction.

Previously, we took an in-depth look at gaining access to mail lists as a cost driver for direct mail campaigns and the strategies that can be executed to manage those costs. This post will take a deep dive into postage as a cost driver and the different postage optimization strategies that can be implemented to reduce costs.

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Webinar Notes: The Digital Disconnect

These notes are from an event that originally ran on July 28th. If you are interested in viewing the entire webinar on demand, it is available on the Proxima Group’s site here. The panelists were Mark Simester, Marketing Director at Warburtons, Charles Ping, Chief Executive at Fuel, and John Butcher, Marketing Specialist at Proxima and the moderator was Jonathan Cooper-Bagnall, Proxima’s Commercial Director.

While the focus of this event was how procurement can play a role in better managing digital marketing spend, the insights shared during the panel discussion provided plenty of insight about how procurement can improve our dealings with marketing in general. Since marketing is often one of the last hold out functions, we can use all the advice we can get.

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A Deep Dive into the Cost Drivers of a Direct Mail Program – Part 1

While some may believe that direct mail programs have gone out of style similar to print advertising, industry trends indicate quite the opposite. According to the Direct Marketing Association (DMA) Statistical Fact Book, the spend associated with direct mail has been increasing over the past few years from approximately $44.3B in 2012 to $44.8B in 2013, and a decent leap to $46.0B in 2014 – and for good reason. The average response rate for a campaign targeting recurring customers was 3.4 percent for direct mail, compared to 0.12 percent with email. In addition, the average cost per lead for a campaign targeting new customers was $51.40 for direct mail; whereas email was $55.24, meaning that the cost to generate a qualified sales lead or order was about $4 less with direct mail than email.

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Internal Marketing and Supplier Relationship Management – A 1-2 Punch

This guest post is a team effort from Source One Management Services. If you would like to comment, you can do so by posting below, contacting them on Twitter @GetSavings, or contacting them directly here.

The outlets for procurement and supply chain news have no shortage of recommendations for improved business processes, new ideas, and technologies your department should implement to “modernize” or “optimize” or any number of other “-izes”. If you have read any of Source One’s contributions – here, on other publications, or on our own blog – we make just as many recommendations.

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The Marketing of Procurement: How to Create a Powerful Profile on LinkedIn

In order to help procurement better position ourselves and communicate through all of the channels available to us, Buyers Meeting Point reached out to a colleague with a background in marketing and experience in the procurement space. Sheryl Johnson is the founder of BD-PRo Marketing Solutions and focuses on implementing creative marketing and business networking strategies for small and medium sized businesses, as well as a professor of marketing at the Community College of Allegheny County in Pennsylvania.

Click here to read more about the 'Marketing of Procurement' series of posts on Buyers Meeting Point.

Click here to read our last post in the series, Why Having a LinkedIn Account is Critical in Today's Business Environment.

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