Technavio Reveals Cost Saving Opportunities for the Brand Management Services Market

Technavio has published a new report on the global brand management services market from 2017-2021. (Graphic: Business Wire)

LONDON--()--According to the latest procurement intelligence report from Technavio, the global brand management services market is expected to grow at a CAGR of over 6% over the next five years due to the growth in popularity of digital advertising.

The research report titled ‘Global Brand Management Services Market: Procurement Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning, and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.

Brands are increasingly relying on agencies to enhance customer experiences by using themes such as detailed explanations about products and simplicity of design. There is a need for effective branding services, as brands need to stay relevant in the market by differentiating themselves effectively from competitors,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “Marketers are adopting regional branding strategies to create effective and targeted campaigns that consider cultural differences and consumer behavior trends,” added Angad.

Looking for more information on this market? Request a free sample report

Technavio sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Cost Saving Opportunities in Brand Management Services

The adoption of cost optimization levers can help buyers of brand management services realize cost savings and achieve category management and value benefits, including a reduction in procurement complexities.

Technavio procurement experts have segmented the cost saving opportunities in the brand management services market into the following value-enhancement opportunities:

  • Adoption of technology
  • Supplier Competition
  • Adoption of negotiation strategies
  • Optimization of procurement practices
  • Bundling of services

Adoption of technology saving aspects

Buyers are using visual recognition technology to analyze visuals of content, objects, and faces to derive more insights. For instance, Shazam partnered with McDonald's to launch the #SipShareWin campaign that allowed users to click pictures, unlock song lyrics, and upload content to win passes.

VR helps brands use technology creatively and differentiate from similar brands. Using VR can deliver superior customer experiences. For instance, Samsung is using VR to create immersive shopping experiences for its customers.

View our subscription bundles to discover more cost saving opportunities: Request for demo

Optimization of procurement practices saving aspects

Measuring the effectiveness of the marketing campaigns are necessary to gauge the performance of the supplier and the need for the related efforts. Hence, it is efficient for buyers to utilize ROI measurement methodologies for marketing programs.

Buyers should opt for suppliers that can create country-specific brand campaigns by converting global branding strategies into local campaigns that are consistent with cultural values of the region in consideration.

Bundling of services saving aspects

Omni-channel marketing refers to the use of different channels such as websites, e-mail, social media, and print media to reach the target audience. It helps buyers obtain better customer insights, increases their brand exposure, and subsequently increases their revenue. For instance, omni-channel marketing can increase customer retention by about 100%–130%, as per the research conducted by a leading mobile marketing automation provider in 2016.

Browse other reports:

Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest procurement intelligence report from Technavio, the global brand management services market is expected to grow at a CAGR of over 6% over the next five years.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com