Creative Marketing Market Procurement Intelligence Report

Several macro changes in the dynamics of overall Marketing as well as Creative Marketing procurement trends are poised to change the business practices and procurement thumb rules. An intense competition in the supply market owing to new entrants is expected to provide more procurement options to buyers for Creative Marketing and offer significant negotiation leverage.

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 Creative Marketing 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.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Creative Marketing 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 Creative Marketing procurement strategy.

For example, While engaging with a service provider, buyers should procure creative services from a tier 1 creative agency and outsource the production work to a local agency to reduce billing rates.

Buyers should ensure that service providers use digital asset management tools for storing and retrieval of digital assets such as photographs, video graphs, music, animation content. Buyers can use these tools to increase their brands consistency and optimize their workflow.

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.

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