9 Benefits of Streamlining Your Agency Roster
Sometimes, there's an upside to having all of your eggs in one basket. Consolidating event vendors by streamlining your agency roster can generate everything from supply chain efficiencies to line-item accounting transparency. Discover 9 benefits of streamlining your agency roster.
- Consistency - Transitioning from many agencies and suppliers to fewer ones provides a more focused view of the portfolio and an easier platform for creating one look and feel at all events and trade shows.
- Control - Bringing what was once fragmented into order brings with it greater control over overall physical event environments. It’s easier to implement and roll out procedures, while ensuring regional units adhere to branding guidelines becomes infinitely more achievable.
- Buying Power - One of the greatest benefits of consolidation allows marketers to flex the true muscle of their budgets. Too many companies spread event budgets too thin, thereby decreasing potential buying clout.
- Supply Chain Efficiencies - A more manageable portfolio breeds a more streamlined supply chain. Creating a streamlined vendor roster allows all divisions and internal constituents to be playing off the same sheet. True economies of scale begin in the supply chain and grow from there.
- Budget Enhancement - Consolidation brings with it better control over expenses, the budget planning process and overall ROO and ROI alignment.
- Better Decision Making - For years, fragmented event units operated in silos. Consolidated portfolios provide a more cohesive decision making process in which the internal parts of the enterprise support each other. Fewer vendors creates a more seamless organization.
- Improved Accountability - A better system creates an easier way to see what’s working and who’s getting the job done. Consolidation helps marketers pinpoint their successes and failures.
- Service Consistency - The more partners that touch the portfolio, the more likely there are to be issues with what marketers are buying and what the deliverables are. Engaging fewer partners can provide one centralized service team that better understands the brand’s objectives and how to accomplish them.
- Financial Transparency - Tracking expenditures becomes an open-book endeavor post-consolidation. Marketers can see the value of a portfolio after a consolidation, versus seeing random invoices and not knowing what went into them.
Done right, event portfolio consolidation can transform tactical event competencies into strategic experiential marketing machines.