Seven Immediate Ways to Reduce Marketing Production Costs
- Reduce Re-works
- Automate production of templated materials
- Share and re-use approved work
- Take control of your digital brand assets
- Get Approvals working quickly and effectively
- Coordinate your processes
- Take control – identify where the problems are
Many marketers we have seen do not have a strict policy around the number of creative re-works they will allow through their production process. This lack of restriction can blow out dramatically. Every rework can costs hundreds, if not thousands of dollars. In this climate, marketers need to be strict and apply a re-work limit. This results in lower overall production costs and also provides more predictability. A large international bank implemented a “three re-works” policy for shrinking budgets, stretching funds creative production. Initially, marketers were concerned that creativity would be suppressed, but the policy forced the team and the agencies to improve briefing processes and collaborate more effectively, especially early in the process. In the end costs were reduced to the tune of millions of dollars per annum, and brand consistency actually improved.
A lot of print material is re-usable with simple text and image changes. However, agencies often charge large sums to perform these minor changes. Many of these materials can be housed in a system which allows controlled changes to be made by your own staff, without compromising your brand rules. For instance, local marketers might just want to change contact details, or an image to be more appropriate to their region. The templating system can enable this change to be done online by the local marketer, and appropriate approvals to then be made. This solution can save hundreds of thousands of dollars in annual fees being charged for basic changes to artwork.
Just as recycling material can be good for the environment, it can also help save your marketing budget. Consider re-using marketing materials from other regions and spend a fraction on new development costs. Managing collateral centrally with a marketing asset management system makes this easy. You will also be helping to create a stronger brand image through consistency.
Agencies charge large amounts of money to retrieve and distribute media files. Global best practice today is to house these files in your own controlled system, accessible online to your staff and all your creative partners. We have seen savings into the millions of dollars from such initiatives, eliminating agency costs and couriers costs.
You will have heard war stories about expensive campaigns pulled at the last minute due to lack of approval. Even worse are the campaigns hitting the market only to generate campaign and product recalls, legal action and damage to brand image. Prevent those costly mistakes from slipping through by streamlining your approvals process and making sure the right people are involved at the right time. For even better control, automate the process with a marketing management system.
Delays, re-works and additional expense are usually the result of a lack of coordination. Cost penalties may spread beyond the marketing department. Your organisational revenue depends on having a product and its promotion in the right place at the right time. Automation helps coordination, reducing the risk of expensive delays.
Make sure your systems can provide the accurate, up to date information that you need. A good software management information system should give you detailed visibility into your project progress and allow you to take corrective action before it is too late and costs blow out.
Together, these measures should eliminate huge wastage and help you produce more, with even better results!