Sponsorship Development Market Procurement Intelligence Report

A changing ecosystem within the Promotion market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Sponsorship Development. Rising cost of workforce possessing core skill sets is expected to offset some of the cost savings that suppliers are expecting through implementation of lean and technology-based operations.

In the broader industry, automated tools and advanced technology is making inroads and even replacing some of the non-core workforce of suppliers. As a result, overall cost structure of suppliers has become more favorable across the industry and buyers of Sponsorship Development can expect to benefit from lower costs of suppliers once they break even with their investments in technology.

In recent years, the market has witnessed a significant number of strategic collaborations, mergers, and acquisitions. Such developments have enabled the suppliers to expand their portfolio of offerings, geographic presence, and value chain. Moreover, suppliers have also gained access to new technologies and resources.

Sponsorship Development procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with Sponsorship Development procurement strategy.

For example, Buyers should engage in long-term contracts with service providers to gain value additions and other benefits. Engaging in long-term contracts reduces the total cost of ownership, for buyers, for the service delivered.

Buyers should engage with service providers that can consolidate multiple marketing, advertising and communications disciplines such as SEO, SEM, social media management, and traditional advertising. Such consolidation increases cost savings, convenience, and facilitates supplier performance benchmarking.

Having dedicated on-site staff from the service provider is a highly recommended measure for reducing category lead time for buyers.

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