As social media has become a more valuable tool for the marketing department, brands have developed an increased dependency on agencies, external vendors, and software to manage customer conversations on social. But there’s plenty out there that needs to be managed. For example, if you’re in the pharmaceuticals industry you must track adverse events on social. If you’re in financial services you have to assure customer privacy and security is protected in social media. Or maybe you are in retail or at a CPG company and you want to preserve the customer experience. As a result of all these business matters and the nature of social media, costs can easily spiral out of control due to the use of different vendors, duplication of efforts from brand to brand and across regions, or the utilization of multiple software tools.
LiveWorld’s CEO Peter Friedman has spoken about how to “Be Social Effectively, and Cost Effectively,” and we’ve recorded what he’s said. In the video Peter describes how the procurement department’s global view and role as a company steward enables it to uniquely solve this glut of marketing solutions and vendors problem for marketing organizations. He describes how procurement professionals tasked with helping marketing departments can assist in:
- Improving social media performance
- Providing increased cost efficiencies
- Return on investment models
Peter and LiveWorld have also written about how purchasing and procurement teams can help solve these problems in a white paper titled, “How To Scale Social Media Programs And Maximize Value: What Procurement Professionals Need To Know.” In this white paper you’ll find examples of how some of the largest enterprises’ procurement teams are adding value to marketing by creating scalable social media programs. It also includes best practices and tips on how to make marketing more effective by integrating technology and services to support marketing teams.