Global Public Relations Services Category - Procurement Market Intelligence Report

  • Published: Jan 2019
  • Pages: 107
  • SKU: IRCMSTR10264-1
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Key findings: Public relations services

 

This public relations services procurement research report offers actionable information on the global spend potential, regional spend dynamics, and pricing models. Insights delivered in this report will help purchasers to identify cost-saving opportunities while procuring public relations services.

End-user industries such as automotive, FMCG, pharmaceuticals, and IT are increasing their focus on quality PR to scale up their competitiveness in the market. To widen the access to a broader customer base and to foster better communication with them, buyers are increasing the adoption of marketing and PR activities with social media platforms. Consequently, this is resulting in an incremental expenditure on digital and social media activity to maintain PR and is accelerating the category spend momentum to a great extent.

 For more information on the exact year-over-year spend growth rate, download a free report sample. 

Insights delivered

 

Written from the perspective of the buyers and suppliers, this public relations services procurement research report offers comprehensive coverage of the factors that are driving spend across various regions and helps buyers to identify opportunities for cost savings. To help buyers purchase public relations services at cost-effective rates, an analysis of the pricing outlook and supplier cost structure is also offered in this report.

Insights offered in this public relations services procurement research report will help the buyers understand:

  • Global spend potential for a period of 2018-2023
  • Supplier cost breakup
  • US market overview and pricing models
  • Supply chain margins and key cost drivers

Analyze the global category spend for public relations services

 

The FMCG industry accounts for a considerable market share which is also exhibiting a rapid growth in the major regions across the globe. This is supplemented the spend growth rate for public relations services. Several banking and financial institutions are resorting to quality PR to foster confidence among customers while promoting their corporate brand. This is also increasing the category scopes during the forecast period. To access the annual market size data for the global category spend, download a free sample copy.

This market intelligence report on public relations services 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 public relations services

 

Partnering with a PR agency necessitates sharing of sensitive data by buyers which might be accessed by the subcontracting firms that do not feature in the buyers their preferred partners portfolios. This poses the risks of a significant data breach. To avoid such risks, buyers are recommended to lay down clauses about the ownership of subcontracting services to maintain consistent service and control of sensitive data that are shared with subcontracted firms.

This public relations services procurement research report also offers coverage of:

  • Cost-saving opportunities
  • Supply chain margins
  • Technology-facilitated procurement metrics
  • Supply market competitiveness and factors influencing buyer power

 

Assess category spend for the US region

 

Out of the PR services categories rendered in the US, the lobbying services are exhibiting an impressive growth because of the high demand from pharmaceuticals, BFSI, and oil and gas industries. Utilization the lobbying services is known to facilitate the industries with favorable legislation for their business. The incremental spend done by several end-user industries on PR services to stay ahead in the competition will also continue propelling the spend growth rate in the US.

Additional information offered in this market intelligence report on public relations services will help buyers analyze:

  • Category spend in the US
  • Supplier cost structure in the US               
  • Margins of suppliers and category cost drivers

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Build strategies for effective supplier selection

 

Comprehension of the clients requirements and execute them accordingly is one of the critical selection criteria of PR firms. PR services providers are expected to have sound knowledge on the industry that they are catering to, markets, geographies, and demographics involved to understand the target audience and direct branding efforts accordingly.

This public relations services procurement research 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 public relations services

 

In this market, category innovations are known to boost the quality of service and consequently help buyers achieve topline growth. Therefore, category managers must engage with service providers that leverage advanced technologies such as sentiment analysis, ANN, and ML to understand the industry trends and devise PR strategies accordingly.

Key insights offered in this market intelligence report on public relations services will help the buyers identify:

  • Category risks and strategies to mitigate them
  • Major supplier and buyer KPIs
  • Threat of new substitutes and availability of new suppliers

 

Design strategies based on regional spend data

 

The advent of new-age FinTech companies and tech start-ups will pave the way for a high degree of category adoption in APAC. Current trends imply that APAC will eventually gain the highest market share during the forecast period. South America will witness a marginal increase in their market share because of the rise in investments by leading PR service agencies in Brazil and Argentina. Despite predictions of a decreasing market share in Europe and North America, increasing adoption of AI in PR services for crisis management, monitoring digital media, and predicting industry and media trends to provide customized services will supplement the category spend momentum.

To estimate the regional spend potential, this public relations services procurement research report considers geographies such as:

  • APAC
  • MEA
  • Europe
  • North America
  • South America

Information on the top public relations services suppliers and major risks faced while procuring public relations services is offered in this market intelligence report. Download a free sample to access the reports complete scope of coverage.

Key Features of Report

 

Supply Market Insights
Procurement Best Practices
Cost Saving Opportunities
Pricing Models
Negotiation Strategies
Category Risk Analysis
Key Supplier Analysis
Supplier Capability Matrix
 

  

Public Relations (PR) Services - Category Spend Analysis

According to SpendEdge analysts, one of the key growth contributors for the global public relations services market is the increase in the emergence of independent PR agencies and local PR firms, catering to the growing demand for PR services globally.

 

Public Relations Services – Procurement Best Practices

Buyers must run pilot projects for a few weeks to assess the capabilities of interested suppliers. This also helps buyers assess cost/benefit proposition. A key strategy adopted by procurement managers in this market space is to run pilot projects.

 

Public Relations Services - Procurement Challenges

A major procurement pain point experienced by the buyers is the sourcing of talent and the adoption of technology. SpendEdge’s procurement specialists predict that the buyers must evaluate the suppliers in terms of service portfolio, adoption of technology, and track record to counter this specific procurement pain point

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PART 01: Executive Summary

PART 02: Market Insights

  • Global category spend
  • Category spend growth
  • Spend segmentation by region
  • Regional spend dynamics
  • Regional influence on global spend
  • Regional spend opportunity for suppliers

PART 03: Category Pricing Insights

  • Pricing outlook
  • Supplier cost structure
  • Outlook for input costs
  • Total cost of ownership analysis
  • Overview of pricing models
  • Comparison of pricing models
  • Supply chain margins
  • Cost drivers impacting pricing
  • Volume drivers impacting pricing

PART 04: Cost-Saving Opportunities

  • Supplier-side levers
  • Buyer-side levers
  • Quantifying cost-saving opportunities
  • Quantifying cost savings by negotiation strategies

PART 05: Best Practices

  • Innovation and success stories
  • Procurement excellence best practices
  • Procurement best practices
  • Sustainability practices

PART 06: Category Ecosystem

  • Market favorability index for suppliers
  • Competitiveness index for suppliers
  • Buyer power
  • Supplier power
  • Threat of new entrants
  • Threat of substitutes
  • Buyer ecosystem
  • Supplier ecosystem

PART 07: Category Management Strategy

  • Category management objectives
  • Supplier and buyer KPIs
  • Outsourcing category management activities
  • Risk management

PART 08: Category Management Enablers

  • Procurement organization
  • Category enablers

PART 09: Suppliers Selection

  • RFx Essentials
  • Supplier selection criteria
  • Service Level Agreement
  • Incumbent supplier evaluation metrics

PART 10: Suppliers Under Coverage

  • Overview
  • Supplier positioning
  • Profile: IPG
  • Profile: Omnicom
  • Profile: PUBLICIS
  • Profile: WPP
  • Profile: DENTSU
  • Profile: MDC

PART 11: US Market Insights

  • Category spend in the US
  • Price outlook
  • Supplier cost structure in the US
  • Margins of suppliers in the US
  • Category cost drivers
  • Category volume drivers
  • Overview of best practices in the US
  • Procurement best practices in the US
  • US supply market overview
  • Supplier positioning for the US
  • Regional category risks

PART 12: Category Definition

  • Category hierarchy
  • Category scope
  • Category map

PART 13: Appendix

  • List of abbreviations
  • Key Notes
  • Global category spend (2018-2023)
  • Category spend growth (2018-2023)
  • Regional spend dynamics
  • Regional spend dynamics
  • Comparison of category maturity across regions
  • Regional spend opportunity for suppliers (2018-2023)
  • Category pricing dynamics
  • Supplier cost breakup
  • Input cost dynamics
  • Total cost of ownership model
  • Benefit comparison of pricing models
  • Pricing models – comparison matrix
  • Supplier margin analysis
  • Margin analysis across supply chain
  • Cost drivers
  • Volume drivers
  • Cost-saving opportunities: Supply-side levers
  • Cost-saving opportunities: Demand-side levers
  • Cost-saving opportunity matrix
  • Negotiation grid
  • Innovation and success stories
  • Procurement excellence summary: Impact on the category
  • Supplier relationship management metrics
  • Strategic sourcing and category management metrics
  • Technology-facilitated procurement metrics
  • Procurement best practices dashboard
  • Sustainability practices: Impact on the category
  • Sustainability best practices
  • Market environment score
  • Market competitiveness score
  • Buyer power score
  • Supplier power score
  • Ease of market entry score
  • Ease of substitution score
  • Buyer ecosystem: Outlook
  • Supplier ecosystem: Outlook
  • Ecosystem disruption threats
  • Key category management objectives
  • Supplier KPI dashboard: Importance for the category
  • Buyer KPI dashboard: Importance for the category
  • Category management enablers
  • Risk management matrix
  • Category enablers: Procurement model
  • Category enablers: Technology
  • RFx questions
  • Phase I RFI considerations
  • SLA terms
  • Supplier performance benchmarking criteria
  • Supplier operational capability matrix
  • Supplier positioning matrix
  • IPG – Key information dashboard
  • Omnicom – Key information dashboard
  • PUBLICIS GROUPE – Key information dashboard
  • WPP – Key information dashboard
  • DENTSU – Key information dashboard
  • MDC – Key information dashboard
  • US category spend (2018-2023)
  • Category pricing dynamics
  • Supplier cost breakup
  • Supplier margin analysis
  • Margin analysis across supply chain
  • Cost drivers
  • Volume drivers
  • Procurement excellence summary: Impact on the category
  • Supplier relationship management
  • Strategic sourcing and category management
  • Technology-facilitated procurement
  • Procurement best practices dashboard
  • Supplier operational capability matrix
  • Supplier positioning matrix
  • Risk management matrix
  • Category definition
  • Category nuances
  • Importance of category relative to other categories

Research Framework

SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary research

  • Procurement heads
  • Category managers
  • Sourcing consortium professionals
  • Industry experts and thought leaders
  • Procurement managers
  • Category heads of suppliers
  • Client account heads/managers
  • Client and industry consultants

Secondary research

  • Industry journals and reports
  • Periodicals and new articles
  • Category webinars
  • Internal categiry playbooks
  • Industry and government websites on regulations and compliance
  • Internal databases
  • Industry blogs/thought leader briefings

DATA ANALYSIS

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