Increasingly, budget reductions and pressure for measurable return on investment are forcing marketers to stretch their dollars and find new ways to make their activities more effective and efficient. However, achieving these goals requires overcoming certain challenges associated with effectively managing marketing spend.
In many organizations marketing stakeholders, each with varying preferences and priorities, maintain separate relationships with their select group of preferred suppliers. In addition, as marketing channels and suppliers continue to proliferate, companies are spending with many new vendors.
As a result, marketers are finding it challenging to:
Hold down costs by consolidating spending with fewer agencies and other suppliers
Gain timely and centralized visibility into spending and supplier performance and make optimal decisions on which channels and suppliers to prioritize and how much to allocate to each
Remain current with the dizzying array of interactive channels ranging from web analytics, search engine marketing and optimization, on-line creative, and emerging offerings, such as social media, gaming, and others
Manage an increasing number of provider relationships and their related administrative requirements such as invoicing and contract compliance
Make sense of confusing and unpredictable supplier pricing proposals that are not comparable from one provider to the next
Ensure that managing costs and return on investment does not restrict creativity and adversely affect marketing’s primary objective of revenue generation
Maintain focus on managing program quality and execution
Axiom understands these challenges and has developed a proven set of capabilities to help marketers work effectively with their new and existing suppliers to achieve maximum return from their marketing investments.
Solution Offerings
Axiom's Marketing Spend Management (MSM) solutions help marketers select and manage new and existing marketing service providers for greater return on investment.
MSM delivers:
On-demand access to highly specialized marketing and procurement experts to supplement the knowledge and capacity of internal resources
Centralized visibility into existing marketing expenditure and supplier performance to rationalize services across fewer partners and gain better pricing
Greater accountability and improved performance by rewarding suppliers on the basis of performance and business outcomes
Shorter sourcing cycle times by using Axiom’s sourcing best practices, cost structure benchmarks, and pre-qualified network of solution providers to jump start a sourcing program
Reduced time spent on administrative activities allowing marketers – and their suppliers – to focus on delivering high-performance marketing results
Spend reductions of 5 – 30%, while also generating compelling economics to suppliers
Focus Areas:
Direct Marketing
Creative
On-line Interactive
Search
Analytics
Emerging Areas (video, social media, gaming)
Interagency program management and execution support
