In the first post in this series, I provided a few background observations from a recent Advertising Age article analyzing the marketing spend area and those that are getting involved in managing this category for the business. In this post, I’ll continue to provide some background on the subject, quoting some of the more salient observations from the article. But first, I thought I’d start with the observation that marketing Spend Management is caught in a rather interesting conundrum. To wit, in other areas of services spend (e.g., print, legal, outsourcing, etc.), it’s often the role of existing intermediaries (e.g., contract specialists, brokers, etc.) to get us the best combination of price and service. But with traditional marketing agencies, the incentive is only on one side of the equation (hint, hint — it’s not price).
Articles in this series
- Marketing Spend -- The Straight Dope From the Spending Culprits (Part 3)
- Marketing Spend -- The Straight Dope From the Spending Culprits (Part 2)
- Marketing Spend -- The Straight Dope From the Spending Culprits (Part 1)