Optimize Your RFX Support: How to Get Marketing Spend Under Management in 2016 (Part 5) [Plus+]

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RFXs are expensive to run on either side of the fence, for marketing and for agencies. Granted, the bulk of this expense comes in the form of soft costs. But the undertaking is considerable and carefully vetted among agencies. Spend Matters has learned that some agencies estimate their total cost, when all hard costs and revenue losses – from assigning talent to proposals instead of projects – are factored in, to be around $200,000 per RFP, on average. This point is important to emphasize: agencies are quite picky about the clients and projects they bid on. So if the RFP does not grab their attention quickly, it will be dismissed, and so will your organization. Thus, if you can convey to marketing that your vast experience with services RFPs can help marketing get a better response rate, and better responses, it is more likely to be receptive to your words. So how do you go deep on RFX support messaging? In this installment of our Spend Matters Plus series, we outline seven focus areas that will help procurement practitioners guide marketing through the RFX processes.

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