LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Online Advertising Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the marketing industry. This report breaks down the data and analysis behind the procurement of online advertising services and acts as an all-inclusive guide for making smart purchasing decisions.
“The growth of the online advertising market can be attributed to the rapid growth of smartphone users and the increase in the number of social media users in the past few years,” says SpendEdge procurement analyst Tridib Bora. “Demand for online advertising is increasing across the world because it is cost-effective and reaches a large audience base in a lesser time when compared with other formats of advertising,” added Tridib.
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Key Report Features
|Supply Market Insights||Negotiation Strategies|
|Procurement Best Practices||Category Risk Analysis|
|Cost Saving Opportunities||Key Supplier Analysis|
|Pricing Models||Supplier Capability Matrix|
- The growth of online advertising market can be attributed to the rapid increase in the adoption of technology and use of business analytics to arrive at critical decisions, which can enhance the success of online campaigns. Hence, buyers are shifting to digital mode of advertisement campaigning. Also, many organizations are adopting cost-effective methods to advertise their products/services to achieve higher ROI on marketing spend.
- Buyers must procure services from providers that create and strategize content through methods such as content remarketing and cookie-based advertising. Adopting this procurement practice helps buyers in cutting down overall cost and improves the reach of advertisements by ensuring that it influences the target audience.
- One of the key challenges faced by the buyers in the online advertising market includes the difficulty in identifying service providers with creative and innovative expertise in converting leads and estimating ROI on online advertising campaigns. Hence the buyers should identify service providers who help them reach out to the right set of target audience for the product and choose the platform accordingly to enhance exposure.
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Online Advertising Market: Pricing Trends
Monthly retainer based pricing model and performance-based pricing model are the two widely adopted pricing models in the global advertising industry. The monthly-retainer based pricing model makes it easier for buyers to manage their marketing budgets, as the fee is charged on a monthly basis whereas the performance-based pricing model encourages communication and provides cooperation and coordination between buyers, thus resulting in better ROI. It also offers flexibility to accommodate changes at any time.
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