Key findings: Design agencies
This design agencies sourcing and procurement report offers actionable information on the global spend potential, regional spend dynamics, and pricing models. Insights delivered in this report will help purchasers address potential procurement challenges faced while partnering with design agencies.
The advent and the immense popularity gained by social media is motivating the leading companies to do an incremental spend on their social media advertising budgets. A significant amount of this incremental budget is spent on various design agencies that deliver services such as advertisements, cover pages, and posts design suited for various social media platforms. Better accessibility to internet and increasing usage of handheld Internet-enabled devices such as smartphones and tablets are further making the social media advertising a lucrative option, which, in turn, is increasing the spend growth momentum for different design agencies.
For more information on the exact year-over-year spend growth rate, download a free report sample.
Despite promises of impressive category growth, it has been observed that the potential investors are facing significant procurement challenges while purchasing services from the design agencies. Failure to identify such challenges is leading to a severe decrease in the ROI with an increasing procurement expenditure. This market intelligence report is an answer to such potential procurement challenges faced in today’s competitive industry. Not only does this procurement research report help in identifying the challenges but also makes specific recommendations to address the same, and procure services in the most cost-effective rates.
Insights offered in this design agencies sourcing and procurement report will help the buyers understand:
- Global spend potential for a period of 2018-2023
- Risk-management strategies
- Procurement organization objectives
- Supply chain margins and key cost drivers
Analyze the global category spend for design agencies
Small- and medium-sized enterprises (SMEs), which currently constitute about 99% of all firms in OECD countries, are resorting to the services rendered by design agencies to build their brands. This will act as a significant cost driver for the category spend growth rate in the coming years. SMEs are exploring the digital media in pursuit of their brand promotion, which is creating significant growth opportunities for the digital campaign design. Currently, this is considered as the fastest growing sub-segment of the category during the forecast period.
To access the annual market size data for the global category spend, download a free sample copy.
This design agencies procurement research report offers coverage of:
- Regional and global spend opportunities
- Spend dynamics on a global and regional level
- Category spend and spend growth potential
Optimize category spend for design agencies
Copyright infringements pose as one of the significant procurement challenges faced during the category management period. Such instances have resulted in severe damages to brand integrity. Our procurements experts recommend that buyers work closely with design agencies providers to avoid plagiarism in their content and comply with copyright laws and fair use policies.
This market intelligence report on design agencies also offers coverage of:
- Cost-saving opportunities
- Sustainability best practices
- Technology-facilitated procurement metrics
- Supply market competitiveness and factors influencing buyer power
Assess category spend for the US region
Currently, mobile advertising is the fastest growing segment of online advertising in the US, which is accounting for a significant category market share in the region. Increasing employment coupled with a boost in the purchasing power will account for a rise in the brand promotion activities such as advertising among the leading companies in the US. Consequently, these factors will positively influence the category spend momentum in the region.
Additional information offered in this design agencies sourcing and procurement report will help buyers analyze:
- Category spend in the US
- Supplier cost structure in the US
- Margins of suppliers and category cost drivers
Build strategies for effective supplier selection
Comprehension of the buyer’s intention, challenges, and trends is critical in designing services that are optimized to the buyer’s business requirements. This will consequently facilitate a balanced ROI for buyers. Therefore, the design agencies suppliers are expected to have a granular approach when it comes to an understanding of a buyer’s requirements and possess the required technical skills to offer competitive solutions in the industry.
This design agencies sourcing and procurement report identifies the major costs incurred by suppliers and provides additional information on:
- Key supplier selection criteria
- Service level agreements and US supplier market ecosystem
- Total cost of ownership and category risks
Devise effective category management strategies for design agencies
Copyright infringements and increasing category costs continue to be some of the significant procurement challenges. In light of the same, category managers are advised to partner with services providers that leverage the digital asset management software that aids in the secure storage of pictures and videos, and avoiding duplicates. Apart from eliminating incorrect versions of such digital assets, this software is instrumental in enabling service providers to quickly access their digital assets, in turn, facilitating faster designing and quicker TAT for their buyers. This helps in a significant reduction of the operating costs of service providers, which can in turn decrease buyers' category costs.
Key insights offered in this market intelligence report on design agencies will help the buyers identify:
- Category pricing strategies
- Major supplier and buyer KPIs
- Threat of new substitutes and the availability of new suppliers
Design strategies based on regional spend data
Factors like the growing consumerism in APAC will create major requirements for a boost in advertising spend for companies, which, in turn, will generate growth scopes for design agencies in this region. Availability of strong internet connection and the growing use of 3G and 4G networks will make regions such as Europe and North America as the largest markets for interactive advertising. This will foster opportunities for various design agencies in those regions. However, such competitive markets challenge buyers who must leverage specific procurement practices to purchase the services in cost-effective rates. On the other hand, a competitive market necessitates identification of the essential KPIs for the suppliers to stand out in the busy supply market ecosystem.
To estimate the regional spend potential, this design agencies procurement research report considers geographies such as:
- North America
- South America
Information on the top design agencies suppliers and significant procurement challenges faced while partnering with design agencies are offered in this market intelligence report. Download a free sample to access the report’s complete scope of coverage.
Key Features of Report
Procurement Best Practices
Cost Saving Opportunities
Supplier Capability Matrix
Design Agencies - Category Spend Analysis
According to our analysts, one of the primary growth drivers for the global design agencies market is the advancements in technology. Technologies such as machine learning and computer vision are expected to have a great impact on design over the next few years. According to leading designers in the industry, these technologies help designers focus on the behavior of designs on online pages rather than on their appearance. The integration of 3D technology in the design process has also enhanced visualization, thus facilitating greater accuracy and detail.
Design Agencies – Procurement Best Practices
Buyers must achieve the right mix of regional and global players. Buyers generally prefer to engage with global suppliers that have expertise in working across a wide variety of sectors. However, when buyers need to target a particular market or geography, it is prudent for them to engage with regional service providers.
Design Agencies - Procurement Challenges
Based on the analysis in this report, a major procurement pain point experienced by the buyers is assessing the creativity and uniqueness of designs provided by suppliers. Our procurement specialists predict that the buyers must conduct the creativity and uniqueness of designs provided by suppliers.