Marketing is in the midst of a sea change that will impact both marketing strategy—and marketing procurement—in dramatic ways.
Digital marketing has come of age: Advertising dollars are rapidly shifting from “off-line” media such as print, and even television, to digital media. One major reason is digital advertising can be more targeted, and the effectiveness of digital ad dollars can be measured in faster (near real-time in some cases) and more accurate terms (for example, whether the targeted user clicked through and ultimately made a purchase).
The arrival of digital means that marketing organizations need new skill sets, and marketers in the future are likely to look as much like data scientists as brand experts. As marketing becomes more digital, marketing organizations also require a robust set of enabling technologies and data, and we are seeing marketing driving an ever-larger portion of IT spending at major corporations.
With this rising volume of project work associated with IT investments to support marketing, our IT and marketing sourcing teams collaborated on joint research to assess the broad digital marketing landscape today and the role procurement can play as a critical enabler of digital marketing.