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RM-Center-of-Excellence-Part-2-TPG-WP

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The Pedowitz Group | pedowitzgroup.com | Call us at 855-REV-MKTG | @revenuemarketer Revenue Marketing Center of Excellence 8 The Pedowitz Group | pedowitzgroup.com | Call us at 855-REV-MKTG | @revenuemarketer Vendor Management There are an increasing number of SaaS solutions that require constant vendor interaction, contract negotiation, provisioning, governance and billing management. In some cases these responsibilities are handed off to IT or Purchasing, but to fully represent the business requirements of marketing, firms may elect to manage vendors and agencies inside marketing directly. Where this function remains within marketing, it's recommended that they follow the same standards as IT or Purchasing would have set for the organization's broader set of technology vendors. Examples of vendor relationships retained within marketing include: Google, Wordstream, Ion Interactive, Spyvu, Marketo, Eloqua, ExactTarget, Hubspot, Jive, Wordpress, Birst, Kapost, Compendium, Domo, GoodData, Tableau, Social platforms, and so on. Functions of this team include: ■ Developing a standardized vendor performance scorecard ■ Managing relationships with all marketing vendors ■ Conducting quarterly business reviews with vendors to ensure objectives are being met ■ Negotiating contracts with marketing vendors ■ Conducting due diligence within the marketing team to ensure that the vendors, products or services are being fully utilized/optimized ■ Providing marketing insight into new technologies that can fit within the organization architecture and provide productivity- or innovation-related benefits to marketing. Training and Education Currently marketing is undergoing a high rate of change, which requires frequent training and certifications for individuals connected to the many new technologies that are available. To keep the team current, a firm will need to focus on on-going education on Marketing Automation, CRM, DMP, mobile, search, social, campaign management best practices, data management, content tools, content operations, and so on. This ongoing education is best managed from within marketing by an education facilitator. This function is very often outsourced to a consultant or coach.

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