Procurement of marketing services – take part in the new WFA benchmarking exercise

We wrote here about the ProcureCon Marketing session led by Steve Lightfoot of the World Federation of Advertisers. He presented output from the benchmarking study they had run, which seemed a very worthwhile exercise and looked at best practice in the whole marketing services procurement area.

The WFA has now launched a new survey – the third wave in effect of the benchmarking study.

Working in conjunction with marketing capability consultancy SPIRE, the survey will benchmark resource structure and capabilities for four key effectiveness and efficiency themes:

  • Identifying and working with best agencies/ suppliers
  • Using integrated and streamlined approaches to manage activities
  • Managing money tightly and adopting more cost-efficient ways of working
  • Establishing structured mechanisms for continuous improvement

Participation is open to everyone, not just WFA members. Those that take part will receive a confidential report and presentation detailing where they sit compared to their peers. The aim is “to encourage procurement experts to take the most sophisticated approach possible to ensure their engagement within the marketing space contributes maximum value to the business”. Hard to argue with that as an objective.

There’s no charge for taking part but if you choose, you can pay for a more in-depth diagnosis of their position versus other companies and plans for capability building from SPIRE.

I was impressed by the material presented at ProcureCon, so I’d recommend this exercise to anyone interested in improving their procurement of marketing services. And to take part in the 2013 benchmarking exercise, contact Steve Lightfoot at the WFA or Paul Duxbury at SPIRE

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