LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global media monitoring services market and the market is poised to experience spend growth of more than USD 2 billion between 2019-2024 at a CAGR of over 10% during the forecast period. Request Free Sample Pages.
Read the 122-page research report with TOC and LOE on "The Global Media Monitoring Services Industry – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
Customer’s purchasing behavior is being largely influenced by the reviews and criticisms of products and services in social media. Enterprises are capitalizing on this trend and are engaging media monitoring services to identify the reviews about their merchandise to secure their brand image in the process. This is serving as the major driving force in the media monitoring services industry.
The early adoption of advanced technologies in the media monitoring services industry and the steadily increasing viewership for online media over traditional media by end-users are motivating businesses to invest in advertising and brand promotion campaigns on online platforms. This is driving the demand for monitoring of online media platforms in North America.
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Insights into the industry price trends
Media monitoring service providers are accounting for extensive adoption of technologies such as machine learning and AI which is necessitating the employment of skilled and experienced professionals. This is propelling their employee-related expenses which, in turn, are driving buyers’ procurement expenditure in this industry.
- The increasing investments done on R&D activities to automate operations and to offer value-added services such as sentiment monitoring are inflating service providers’ OPEX. This is casting an inflationary impact on buyers’ TCO in the media monitoring services industry.
Insights into strategies that will help buyers achieve a mutually beneficial partnership with service providers
List down negotiation levers
Before entering into contract-related discussions with service providers, buyers must ensure that they have clearly identified and listed down potential negotiation levers such as cost and payment terms, contract tenure, value-added benefits, and volume-based discounts. This ensures that they are equipped to leverage the maximum value from their procurement spend.
Assess service providers’ live media monitoring capabilities
Buyers must ensure that service providers can support live media monitoring during conferences, events, and discussion forums so that they do not miss valuable insights. It helps buyers evaluate the practices being followed by their competitors using metrics such as share of voice, total social volume, and sentiment analysis and make changes in strategies accordingly.
The top media monitoring service providers enlisted in this report
This media monitoring services industry procurement intelligence report has enlisted the top service providers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- WPP Plc
- Interpublic Group of Companies Inc.
- Cision Ltd.
- Dentsu Inc.
- Omnicom Group Inc.
- Ipsos SA
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Some of the key topics covered in this report are:
- Media monitoring services industry spend segmentation by region
- Media monitoring services supply market analysis
- Regional spend opportunity for media monitoring service providers
- Media monitoring service providers cost structure
- Total cost of ownership analysis in the media monitoring services industry
- Media monitoring services pricing models analysis
- Category management objectives
- Cost saving opportunities in the media monitoring services industry
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