Marketing & Sales Training | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Marketing & Sales Training Procurement

Overview

Business practices within Marketing & Sales Training market are heavily influenced by changing trends across the category as well as within the broader Development and Training market. Labor cost constitutes a key component of L&D providers' OPEX. Factors such as rise in the cost of living, increase in the local wage policies across geographies, and rise in wages and remuneration packages will propel service providers' OPEX and therefore use of automation and other tools will further increase to offset some of the rise in cost of operations.

Several important sectors of the global economy, such as BFSI, Healthcare and Manufacturing are facing serious shortage of adequately skilled workforce. Companies are trying to fill this gap by re-skilling their existing employees in new skills. Similarly, rapid penetration of new technologies across industries (e.g. big data, AI, blockchain, or even data analytics tools) is necessitating re-skilling of employees so that they understand and leverage these technologies to work more efficiently. These factors have improved the demand outlook for L&D services in developed economies and will soon impact the developing economies as well.

Buyers that have multiple locations under management are increasingly opting for a single supplier who can deliver L&D services in a consistent manner across locations. Often global L&D suppliers are preferred in such cases.

As a result, category managers need to closely monitor the Marketing & Sales Training procurement trends and identify changes required in their procurement environment for the category.

Marketing & Sales Training Procurement Best Practices

As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Marketing & Sales Training category procurement. The report offers a succinct analysis of Marketing & Sales Training procurement best practices.

For example, Buyers should prefer to partner with suppliers that have at least 3-5 references of their performance delivery. Buyers can also evaluate these suppliers by taking feedback from their peers in the industry on the flexibility, quality, and adaptability of the supplier.

Buyers must collaborate with service providers that offer mobile learning solutions, which help in accessing the training material from any location. This will aid employees from departments such as sales, which may not be able to attend all training sessions conducted onsite and achieving better ROI on L&D.

Buyers should prefer to collaborate with service providers that offer one-stop solutions for L&D to avail significant cost savings through L&D consolidation. This includes learning planning and curriculum design, custom content design and development, user and administration training, and content management services.

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Risks in Marketing & Sales Training procurement

Marketing & Sales Training procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Marketing & Sales Training procurement. Some examples include:

Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
The corporate learning and development industry is affected by the economic upturns and downturns of their clients, as these can lead to budget cuts for outsourcing of training and decline in technological spend
Procurement without consulting the actual users of Marketing & Sales Training may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed

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Who should read this report

The report is intended to serve as a one-stop reference guide for Marketing & Sales Training procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Marketing & Sales Training: Procurement Report 101” as well as for category experts actively tracking the global Marketing & Sales Training procurement market.

You may have just initiated your research to design a winning Marketing & Sales Training procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

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Key questions on Marketing & Sales Training procurement answered by this report

Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!

The Marketing & Sales Training procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:

What is the spend potential in the Marketing & Sales Training market?
What is the correct price to pay for Marketing & Sales Training? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Marketing & Sales Training Suppliers Market?
Who are the top Marketing & Sales Training suppliers? What are their cost structures?
Which negotiation levers can reduce Marketing & Sales Training procurement cost ?
What are supplier margins in Marketing & Sales Training market?
What are the best practices for Marketing & Sales Training procurement and what are the potential risks?

SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!

Marketing & Sales Training Category Insights: What is inside

The Marketing & Sales Training market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.

Data

A key highlight of this report is the in-depth outlook created on Marketing & Sales Training procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Marketing & Sales Training. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.

Insights

Along with specific category and supplier intelligence, the publication also includes curated insights on Marketing & Sales Training market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.

Advisory

Additionally, the report also advises on the best practices and strategies to manage the Marketing & Sales Training category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.

Category Ecosystem

Buyer and supplier ecosystem
Competitiveness index
Buyer and supplier power
Threat of new entrants and substitutes

Global and Regional Sourcing Insights

Category spend
Spend growth
Dynamics
Opportunities

Pricing and Cost Analysis

Pricing outlook and data
Drivers of pricing
Cost structure and inputs cost
Total cost of ownership
Pricing models and margins

Cost Saving Opportunities & Negotiation Strategies

Buyer and supplier side levers
Quantified cost saving opportunities
Negotiation strategies and quantified outcome

Procurement Best Practices, Strategy and Enablers

Procurement excellence
Sustainability and innovation
KPIs and category enablers
Risk management and outsourcing

Vendor Analysis

RFx essentials and selection criteria
SLAs
Supplier evaluation metrics
Detailed supplier profiles

Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”

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Category Research Framework

SpendEdge presents a detailed picture of Marketing & Sales Training procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.