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Guides & Inspiration • 4min read
Guides & Inspiration • Written by Matt Perry - Managing Director, Americas
While collaboration between these departments has become more aligned and strategically driven around the subject of content creation in recent years, there are still disconnects. This is in part because each department often talks in different languages, and because genuinely alternative creative production options have been very limited.
Finance and procurement are laser focused on reducing wastage and inefficiency throughout the marketing process. If money can be saved then money will be saved. Meanwhile, marketers are facing an impossible challenge. How to save money, increase agility, and maintain quality all at the same time. Achieving all of this while broadening capabilities and diversity in order to ensure their brands are relevant and respected in a channel and cultural context.
In reality, the teams on either side of the procurement and marketing fence have been forced to battle it out over the age-old quality versus cost conundrum for a long time with little sign of things changing. Then COVID arrived and completely disrupted a marketing environment that to a greater or lesser extent had maintained its uncomfortable status quo.
With greater dependency on digital and social channels, and a deeper understanding of the need to communicate with optimized assets at every touchpoint in the consumer journey, the need for quality assets throughout the funnel meant that demands on marketing’s budget exploded. Add to that the exponential growth in the consumption of video by audiences and we have the perfect storm blocking the path to easily found common ground.
And here’s where the traditional agency production model comes in. The last year has exposed just how far behind agencies are in being able to deliver on their client’s needs of more, for less. Decimated account management and creative teams, coupled with a traditional TV-first mindset was never going to work in the new world order. While most global advertising networks have slashed staff and costs to maintain their stock valuations, agile content first and tech-enabled solutions have catapulted in value.
Brand owners more than ever need strategic and creative thinking. However, the delivery and production of those ideas need to be more cost effective, and delivered with diversity, agility and velocity. Turning a 30” spot into a few short form videos and a couple of gifs with a six figure budget is simply not going to work as we move forward.
From a strategic perspective finance and procurement are seeking out investments in innovation, technology, and process solutions that deliver efficiency and savings. They also recognize that marketing is not a zero sum game whereby the lowest cost always wins. The art & science rule applies today as it always has done and ultimately it is the combination of precision targeting with high quality creative messaging that delivers results. Since March 2020 this equation has become even more pronounced.
The question is can you have your cake and eat it too? Is there a solution that can deliver the volume of assets required to feed the social media beast at speed, scale, and quality while delivering cost savings versus the current production models?
The answer is yes. That is if your solution includes three key elements for success.
While marketing and procurement may talk different languages, one three letter acronym they both love the sound of is ROI. In content production terms that equation is very simple. Make sure campaign assets are of the right quality so they perform within each advertising environment, streamline the process of production so you can use them as quickly as possible, and finally, find ways to get them produced by professional creatives without the layers of cost and inefficiency.
If you’d like to find out how Genero can help you achieve these objectives and find that common ground with your finance and procurement teams, please do get in touch.
Guides & Inspiration • 4min read
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