Does anybody have any experience of Marketing Procurement? I'm looking at putting a contract in place for a Creative Agency. What sort of KPIs would be most effective at stimulating performance without stifling creativity?
It really depends on what services/products the agency is offering you. In my experience and without knowledge of what you are looking for, I would probably include some of this:
-Social Media Reach, Interaction and Engagement
-Number of leads
-Key Word Performance (AdWords)
-Email marketing engagement
-Cost and Revenue per lead by source
You can also subdivide those KPIs.
Hope it helps!
Dan to encourage creativity, ensure you focus on the positive aspect of KPIs. A KPI can be used as a "Stick to enforce output" or a "Carrot to drive creativity", how you structure your contract will dictate the engagement model of your supplier.
"Impressions", "Engagements", and most of all "Leads" and the intended relationship between them to drive the desired marketing strategy are good performance based KPIs. You can measure the other stuff, but recommend keep it simple and above all "Performance Based" otherwise you risk getting what you paid for without meeting mission.
I'm definitely not a guru in this area, but I have run a number of tender and contract processes with agencies. I'd say in this area above most others, the KPIs really have to be driven by what your particular business is seeking to achieve from the engagement, and from the circumstances of your market. Happy to chat through further by phone if that would help - PM me if so.