Early adopters of SMM programs describe a host of benefits such as transparency into spend, cost savings and risk mitigation. Yet despite all these benefits, the industry has not reached a high level of market maturity.
Experts agree that implementing an SMM program is a journey that it is constantly evolving. Each program is and should be unique, designed to align with corporate goals, objectives and culture.
Establishing a program does not have to be difficult. Many of today's most effective programs started small and grew, building on their successes.
Key advice and findings from the experts we interviewed include:
Focus on the strategy, not the tactics
Determine what you want to achieve first and build a roadmap to get there
Stakeholders, stakeholders, stakeholders: identify and engage them