Marketing the Procurement Function – New SpendLead Paper Suggests How

SpendLead is the new platform that links buyers and sellers and allows procurement practitioners to get a controlled feed of relevant product and marketing information from suppliers in the markets that relate direly to their spend categories. (There is more from us here and here if you haven’t picked up on this already).

One of the reasons we liked the concept – and the actual product – is that it gives procurement people the opportunity to stay ahead of the market, their competitors and, just as importantly in some sense, their own colleagues! What do we mean by that? Well, in most spend categories we have internal stakeholders who are probably the budget holders for the category. That means they are also likely to be interested in the market, product and suppliers.

That might be the CIO/CTO and staff who want to know about technology markets; the marketing folk who follow the world of agencies, designers and advertising platforms; or even the production manager who likes to know a bit about the packaging or component providers.

In this world of instant digital information, it is easier than ever for those people to achieve a reasonable level of knowledge quickly. So procurement can find itself working with stakeholders who know just as much as they do about the market and suppliers, or even more! But we would suggest that it is important for procurement professionals to keep up with – or preferably stay ahead of – our colleagues in terms of that knowledge if we want to show we can add value.

SpendLead helps with that, by providing a flow of relevant market and supplier information. But of course there are other ways in which procurement can demonstrate value and communicate that to the rest of the organisation. To reflect that, we have produced a briefing paper titled, “Marketing the Procurement Function (and yourself!) - How to Gain Credibility, Reputation and Influence”.

That title says it all really. The paper looks at five key points to consider when procurement is developing what we might call its marketing strategy. Whilst this is focused at the level of the procurement function, virtually all the remarks also apply to individuals - substitute "you" for "the function" and the advice should apply pretty well when we consider how to increase our own personal impact, credibility and success!

The paper is available now – but only via the SpendLead platform. If you register as a buyer, free of charge of course, you will be able to download it immediately.

One other point. SpendLead will grow in effectiveness as more and more organisations join, so if you do sign up, please invite your suppliers to do the same – it will become more and more useful as more join the platform.

 (Jason Busch and I are small equity investors in SpendLead - we think it is a great idea!)

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