Issue 105, 27/11/08

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Continuing our series on dealing with a slowing economy, we look at the options available to marketers and procurement to achieve savings and increase value without compromising the integrity and effectiveness of the marketing communications plan.

So in this edition of the TrinityP3 e-news, Mahesh Enjeti looks at how process improvement can deliver significant and sustainable improvement to your marketing activity.

Cost cutting or process improvement?

While the obvious approach is to significantly reduce the budget by reducing the scope of work, this can have a long-term impact on the performance of the brand. Instead, this is a prime opportunity to review the efficiency and therefore the cost effectiveness of your current processes.

The obvious solution is not always the best

During times when credit is scarce and borrowing costs are high, marketing departments face increasing pressure to reduce their working capital requirements. Cost control measures generally target more obvious line items such as media and production expenditure where savings could be significant and immediate but at times detrimental to long term market share, profitability and brand equity. It is therefore important to focus cost cutting efforts on wasteful activities and spare the initiatives that help generate future sales and brand preference. This is an area that requires objective assessment, a task that TrinityP3 is well placed to undertake.

Areas of opportunity for process improvement

Apart from achieving targeted efficiencies in media and production investments, TrinityP3 foresees several opportunities to deliver sustained and progressive gains through coordinated marketing process improvement including an effective marketing structure, appropriate skill profile and training, a strong ROI culture, alignment between different service providers and synergy across brands.

A process for long-term sustainable improvement

TrinityP3's Total Category Management analyses the current scenario in the organisation, compares against industry benchmarks and, along with the client’s active involvement, establishes a desired state of marketing before undertaking a thorough investigation and analysis that helps to bridge this gap.

A comprehensive proposal is prepared following responses to a detailed questionnaire covering different aspects of the marketing process. Typically, the issues addressed include:
• How to ensure that all suppliers/agencies work together?
• How to make sure that management of ATL, BTL, Media, Digital, PR/Events processes, outputs and outcomes is more efficient?
• How to enable synergy between marcomms for sub brands and umbrella brands?
• How to establish a shared view of the role and effectiveness of different marketing efforts across the function, including the right structure, staffing, strategy and systems?
• How to instill a realistic ROI culture across the marketing function?

TrinityP3’s process improvement initiatives have the potential to deliver savings and/or quality enhancements with an estimated value of ten times the level of investment within 18 months.

Start the process today and yield the benefits

Often when times are buoyant, process improvement is overlooked because there is a marketing plan to be executed and a budget to be spent. When economies get tight, that is the time not to slash budgets, but to think smarter and review how you are working. To discuss how TrinityP3's Total Category Management can deliver process improvements and sustainable cost reduction, contact Darren Woolley by email or in Sydney 02 8399 0922 or Melbourne 03 9682 6800.

Avoid black holes in your budget

TrinityP3's Budget Maximisation Workshop has been developed to provide both procurement and marketing professionals the methodology and knowledge to achieve significant sustainable savings in their marketing budget, whilst not affecting the overall impact of marketing efforts.

The workshop will help marketers achieve savings on an ongoing basis and not just reduce the current budget. The curriculum is designed to suit marketing and procurement professionals, and at $190 + GST, the price per registration is mindful of your current budget.

During the 3 hour workshop we will explore:
• Scope of Work Analysis - clearly setting your requirements
• Agency Remuneration - making sure you get what you pay for
• Agency Performance Evaluation - moving to a performance based model
• Maximising Media - don't just buy cheaper, buy better
• Production Efficiencies - identifying opportunities to reduce cost and risk
• Reviewing Supplier Contracts - deliver greater value at no extra cost
• Digital Media Management - making the most of the opportunity
• Identifying the Black Holes - case studies on how sustainable savings have been achieved

Planned for February 2009, click here to register your interest and to find out more.

TrinityP3 Top 10 downloads

The TrinityP3 Top 10 series are now available for download on our website.

Choose from a range of helpful hints about everything from agency remuneration negotiations and tv production to green washing and selecting your next creative supplier. Titles include:
• Top 10 tips to ensure you get the best media strategy
• Top 10 tips for a successful agency pitch
• Top 10 most common ways that advertisers waste money

Click here to download one or all of the series for your department.

Who's claiming 'carbon neutrality'?

In this special audio presentation Chris Sewell, TrinityP3 Business Director, sits down with David Crew of On Paper to talk about the explosion of marketing businesses claiming ‘carbon neutrality’ as a marketing position while not understanding that offsets are the first refuse of rogues.

Chris is passionate about reducing carbon emissions in the business he knows - advertising.

Click here to access the interview or contact Chris Sewell directly to discuss your green issues further.