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IR23

Top 5 Vendors in Drone Service Industry

Drone technology is used heavily in industries such as logistics, oil extraction, defense, healthcare, military combats, ariel surveillance, and filmmaking. Such industries are opting for drone services due to its versatility, flexibility, and cost-effectiveness. For instance, oil industries can deploy drones for video surveillance during exploration activities in hostile conditions. Numerous other industries are also adopting drone services which is leading towards an explosive growth in the number of drone service providers. It comes as no surprise that this market is growing at a phenomenal rate of 71.62% (SpendEdge: Global Drone Services Category – Procurement Market Intelligence Report) per year for the forecast period of 2017-2021.

Request Free SampleTop Drone Service Providers Affecting the Market Growth

Parrot SA

Parrot SA, founded in 1994, is a French-based wireless products manufacturers. The company specializes in voice recognition technology and drone technology. They strengthened their presence in the drone market by buying 57% of Swiss drone company SenseFly and 25% of Swiss photogrammetry company Pix4D.

Airware

Airware is an American venture-funded startup founded in 2011 in California that provides commercial UAV for enterprises. Airware assists its client to gather business intelligence data and thereby increase operational efficiency, enhance worker safety, and improve decision-making. In 2016, the company raised $30 million in venture capital in a round led by Next World Capital.

Cyberhawk Innovations Ltd

Cyberhawk Innovations Ltd is a leading engineering company that specializes in the use of UAV for ariel inspection and surveying. It has a wide client base spread across the world and caters to clients in the energy sector including oil and gas, wind, utilities, and thermal industry.  The company currently operates in over 25 countries with offices in Scotland, Houston, Abu Dhabi and Kuala Lumpur.

Sky-Futures

Sky-Futures is one of the leading drone service providers extending its services to oil and gas industries that is operating since 2009. The company assists in oil exploration activities to gather various types of data including HD videos and still imagery. It is also one of the first company to receive FAA regulatory approval to operate in the US.

Sharper Shape

Sharper Shape is a Drone Software as a Service (DSaaS) company, headquartered in North Dakota, USA, which specializes in automating the entire process of drone-based utility inspections. Founded in 2013, it serves key clients such as Edison Electric Institute and SkySkopes.

Read more about the top vendors in drone services market along with competitive analysis, cost containment strategy, procurement best practices, pricing strategy, procurement insights in SpendEdge’s upcoming report on the global drone services market.

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IR29

Competitive Pricing Study for a New Automotive Supplier Helps Assess Factors Influencing the Pricing Landscape

Category Overview

The global automotive industry has undergone tremendous transformation in recent years. This market is also expected to witness significant growth in the coming years as it offers a huge growth potential due to higher economic growth in large emerging markets like China and India. However, the major reason behind the sluggish growth of this industry is the implementation of highly specific regulations. Furthermore, it has also been noted that some of the major emerging markets are loosely connected to global trade flows and require dedicated strategies and investments. As a result of such challenges, many automotive firms across the globe have started opting for competitive pricing studies to identify new automotive parts suppliers and understand how to procure materials from them in an effective manner.

The Procurement Pain Point and Insights Offered

A large automotive firm wanted to gain insights on the value chain cost analysis and gain a better understanding of the cost structures of the competitors’ products, the performance attributes OEMs would be willing to pay for, and the basis on how OEMs decide to switch to a new supplier. Additionally, they also wanted recommendations on a tool that would help them develop pricing strategies in the coming years.SE_Demo2

The competitive pricing analysts at SpendEdge carried out a comprehensive two step research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection methodologies to cater to the specific category requirements of the client. During the course this study, the client was given insights on where in the value chain could they capitalize on the benefits of its product offering with the help of the model cost structures. The client was also offered a fact base for value-per-attribute, which exhibited the price and performance impact.

Key questions answered in this competitive pricing study include

competitive pricing

Business Outcome

The competitive pricing analysis study helped the client understand the factors influencing the pricing landscape and the selection of parts suppliers by the OEMs. Additionally, through SpendEdge’s competitive pricing study, they also received a flexible pricing tool to model specific pricing scenarios using competitive technology costs, market conditions, and customers’ business case requirements. Furthermore, the client was able to evaluate the pricing strategies under changing market conditions with the help of a flexible modeling tool and a list of options for pricing strategies.

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Analyzing the Trends in the Food Preservatives Sector Through Supply Market Assessment

SpendEdge’s supply market assessment on food preservatives helps companies in the food and beverage industry to gain a holistic overview of the market and to understand the decisive factors on shortlisting the suppliers.

Food preservatives – market a glance

Food preservatives reduce the growth of microorganisms and changes in texture, color, and taste that eventually make the food unsafe and inedible. These products are extensively used in the food and beverage industry to prevent premature decomposition and preserve texture, essence, edibility, and nutritive value of food products. Food preservation is used to extend the shelf life and prevent bacterial formation in dairy products, bakery products, beverages, snacks, meat, and seafood items.  The growing need for expediency and increasing complexities in the food supply chain is augmenting the market for food preservation. The side effects of chemicals and other additives is driving the demand for natural preservatives, and growing awareness about these products will revolutionize the food and beverage industry. Moreover, natural or organic preservatives are gaining popularity in the meat, poultry, and seafood segments as it reduces that risk of food poisoning. The supply market assessment by SpendEdge help companies in the industry to improve their supplier relationship management and cost components for superior contractual terms.

The demand for frozen, packaged, and ready-to-eat food products are driving the demand for food preservation in the market. Urbanization has resulted in new habits and preferences for international food trends that are raising the requirement for products with extended shelf-life. Ready-to-eat meals reduce the cooking, preparation, and clean-up time and are prepared using a microwave in minutes. These meals are prepared in advance and stored in freezers; food preservatives are added to extend the shelf life and ensure the original texture, color, and taste is maintained.

Introduction of predictive microbiology

Predictive microbiology is a food preservation technique with the use of natural ingredients and processed such as salting, drying, and fermentation. The modern model studies the behavior of a bacterial population exposed to a specific environmental condition and then are used in various food and beverages to preserve these products naturally. These new techniques are developed to reduce the use of harmful chemical products and develop sustainable ways to cater to the demands of the industry. The method also focuses on food safety and quality to ensure that there are no side effects of consuming these products.

Solutions SpendEdge offer to businesses

SpendEdge’s recent supply market assessment on food preservation analyzes data from different industry journals and reports, industry databases, white papers, and company presentations to derive important insights into the market.  The solutions offered includes:

  • Identify the key suppliers in the food preservatives market and negotiate contractual terms
  • Provide a thorough understanding of the supplier relationship management and crucial cost components
  • Evaluates the decisive factors price negotiation strategies and supplier’s performance criteria
  • Help the client build strong and robust supplier relationship model and pricing models
  • Provide a complete breakdown of the supply landscape of the food preservatives market in terms of service level agreements

Read our complete case study titled – Supply Market Assessment for Food Preservatives Helps a Food and Beverage Company

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IR19

Automotive Manufacturers Leverages Digital Marketing Platforms for Business Expansions

The latest supply market intelligence study by SpendEdge on digital marketing helps companies in the automotive industry identify cost-saving opportunities and primary cost components in digital marketing and advertising.

Digital marketing in the automotive sector

The extensive use of the internet and wireless media to promote products and services across industries is creating a market for digital marketing. Leading automotive suppliers are investing in the development of the effective digital marketing strategies to expand their business and market share. Advertising on digital platforms including online, electronic, and digital platforms accelerates the rate at which vendors can access a larger customer base and increase their visibility. These platforms are competitive advertising channels as it offers cost-effectiveness and flexibility to the suppliers. Online advertising and branding are transforming the automotive industry, suppliers understand the customer behavior and assimilate their target audience through these online portals. The websites or social media platforms are used by vendors to announce the launch of new product lines and create a curiosity amongst its customers. Moreover, suppliers are also using content marketing to increase the product options for the customer and help them select the best vehicle that matches their requirements and specifications.

SpendEdge’s supply market assessment on digital marketing for the automotive industry provides detailed understanding of the supplier engagement models, supplier performance evaluation criteria, supplier relationship management, and price negotiation strategies. The study also offers comprehensive information on the regional and global supply market landscape and the standard cost structure. The manufacturers are focusing on building a strong social media presence to evaluate the level of competition and understand the needs of the customers. Discussion boards on Facebook, Twitter, Pinterest, and LinkedIn can be utilized to create a better brand image and increase their popularity in the market.

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Personalizing ad campaigns

Automotive suppliers are personalizing the digital experience for their existing and target customers. The manufacturers are integrating social network newsfeeds with the advertisements of products that they viewed and showed interest in. This way, the suppliers can personalize the advertisement that matches the requirements of the customer. Some of the companies are sending email offers and discount coupons that are designed specifically for a particular customer. Evaluating customer data from social networking sites will help companies to streamline and design more intuitive marketing and advertisement campaigns.

Solutions SpendEdge offer to businesses

The supply market intelligence study on digital marketing for automotive companies analyzes data from industry blogs, reports, and journals and provides a deep-dive assessment of the supply market for the digital marketing domain. The solutions offered includes:

  • Provide overview of the pricing models, supplier relationship management, and service level agreements to help shortlist suppliers
  • Offer strategies to result in efficient supplier relationship management and improve contractual terms
  • Deliver insights on price negotiation strategies to ease the overall process of selecting and evaluating suppliers
  • Offer insights into the supplier cost breakup and suppliers’ performance evaluation criteria

Read our complete case study titled – SpendEdge’s Supply Market Intelligence Helps a Leading Automotive Company

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IR23

Innovative Outbound Telemarketing Practices to Boost Sales in the Automotive Industry

SpendEdge’s latest supply market intelligence on outbound telemarketing helps companies in the automotive sector identify and find the right supplier and procurement partner that will optimize their productivity and reduce the roadblocks.

Demand trends for outbound telemarketing

Phone calls to potential customers to buy products and services is a direct marketing technique called outbound telemarketing. Leading service providers in the market are providing multi-channel services such as digital marketing and face-to-face trade marketing with telemarketing services. Outbound telemarketing services comprise of telesales, lead generation, and up-selling and cross-selling activities. Suppliers are adopting telephone, e-mail, and SMS services that provide higher conversion rates and increases productivity. Additionally, service providers are leveraging technology to help enhance agent productivity, offer value-added services such as database scrubbing, and post-call analytics. Outbound telemarketing in the automotive industry helps manufacturers boost their sales revenue and offer aftermarket services to customers. These services help suppliers increase the customer satisfaction and result in higher retention rates. The supply market intelligence study by SpendEdge helps companies in the automotive sector to enhance their procurement practices. The study also assesses suppliers, identifies cost-saving opportunities, and improves category management.

The integration of omnichannel marketing and outbound telemarketing will help manufacturers in the automotive industry to increase the response rates and boost customer loyalty. These strategies are designed to have multiple touch points that result in better customer engagement. Telemarketing is an effective tool used as a follow-up method for posts on the different social media platforms and SMS services used by the suppliers. This integration effectively augments the productivity among the selling agents and helps them analyze the customer buying pattern.

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Big data analytics for call monitoring

The adoption of call data analytics and historical trend analysis are conducted to improve the productivity of the campaign and increase the sale per contract. Big data analytics aims to reduce the cost associated with each sale and improve the productivity of the agents. Analyzing the call patterns and conducting market research reports on call history helps the sale force to gain insights into the time that is ideal to contact prospective leads. Furthermore, the companies are leveraging new technology such as automation that boosts the efficiency, accuracy, flexibility, and intellect of the agents.

Solutions SpendEdge offer to businesses

SpendEdge’s supply market intelligence study provides automotive companies a clear perspective of the supply market for outbound telemarketing services and analyzes the future growth prospect. The solutions offered includes:

  • Provide a detailed overview of the latest trends in sourcing and procurement, supply market, pricing models, and cost-saving opportunities
  • Offer a breakdown of the cost-optimization levers, price negotiation strategies, strategic sustainability practices, and sourcing and procurement best practices
  • Provide an understanding of the supply market landscape by identifying the different areas of improvement in terms of output, process, and automation
  • Design strategies for price negotiation, indicative pricing, cost-saving opportunities, and category risk analysis
  • Deliver insights into the supplier cost breakup and suppliers’ performance evaluation criteria

Read our complete case study titled – Supply Market Intelligence Study Helps a Leading Automotive Company

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Supply Market Intelligence Study Helps a Nutrition Product Manufacturing Company Identify Vitamin C Suppliers

SpendEdge’s recent supply market intelligence assessment for a leading nutrition product manufacturing company provides comprehensive information on supplier positioning, supplier cost-breakup, and performance evaluation process for the suppliers.

Nutritional trends in the market

The demand for natural, functional and organic ingredient food products is revolutionizing the food and beverage industry. The majority of food and beverage manufacturers and retailers are focusing on developing products that are rich in nutrients and are healthier alternatives to surgery and high-carb products. The new-age products introduced in the market are a good source of various fortified nutrients, including minerals, proteins, vitamins, carbohydrates, and fats. The increasing number of obesity cases and diseases associated with unhealthy food habits is encouraging manufacturers to launch products that promote the overall health and well-being of the consumers. These products are specifically designed to help with the well-being of the brain, heart, digestive, and immune health. The market for nutritional food and beverage items is also driven by the popularity of sports nutrition products and the promotion of sports nutrition in the consumer service sector.

The supply market intelligence study by SpendEdge on nutrition products provides companies a thorough understanding of the aspects of the category in terms of the supply market and best practices adopted by the industry. The assessment also offers detailed insights on the supply market landscape in terms of supplier positioning, supplier cost-breakup, and price negotiation strategies. The demand for nutritional supplements that burn fat, regulate healthy blood glucose levels, and speed up the metabolism is encouraging suppliers to implement these solutions to gain access to a larger market.

Growth of plant-based and performance-boosting ingredients

The demand for natural products that have no side effects and that are derived from good food sources is gaining popularity in the market. These are nutraceuticals products that provide extra health benefits and help people to achieve their health goals faster. Performance-boosting products such as creatine, beta-alanine, nitrous oxide, androstenedione, and caffeine are very prevalent in the sports market. These products help athletes replenish, recover, and refuel at a faster rate and increases their performance levels. The suppliers are also investing in the development of raw, organic, and non-GMO (genetically modified organisms) sports nutrition products to increase their customer base and profitability.

Solutions SpendEdge offer to businesses

The supply market intelligence study by SpendEdge helps procurement managers and industry experts to analyze the demand trends and competition level in the market. The solutions offered includes:

  • Identify the right vitamin C suppliers across the globe with better long-term contractual terms
  • Provide a better understanding of the procurement best practices and cost reduction levers
  • Offer a holistic overview of the key parameters for selecting suppliers and assess the competitiveness in the market
  • Analyze the profit margins, supplier cost structure, and pricing benchmarks for a better supplier engagement model
  • Deliver information on market landscape in terms of supplier cost breakup and suppliers’ performance evaluation criteria

Read our complete case study titled – Supply Market Intelligence Solution Helps a Leading Nutrition Product Manufacturing Company

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IR26

Assessing the Supply Market for Pertinent Contracted Workforce for Manufacturing Companies

SpendEdge’s latest supply market intelligence on contractual temporary workforce helps manufacturing companies identify the top suppliers in terms of contract terms and agreements, service offerings, and revenue.

Temporary/contractual employment trends

The increasing requirement for skilled employees across industries is boosting the demand for temporary or contractual employment. The demand for temporary staff is usually attributed to the need for specific tasks or during specific periods and provides an opportunity to test new employees before hiring them permanently. Technological innovations such as applicant tracking system (ATS) and customer relationship management systems (CRM) tools are enabling organizations access to larger talent pools and results in a quick hiring process. Companies are also leveraging technological innovations to maintain a database of job applicants and use it to source candidates when the requirement is high or time sensitive. The supply market intelligence study by SpendEdge on temporary or contractual employment provides a comprehensive knowledge of the several aspects of supply market such as price negotiation strategies, supplier types, and performance evaluation criteria. The study also helps companies assess the supply market for contracted workforce and identify potential growth opportunities in both domestic and international markets.

In 2015, the industrial sector employed around 35% of the total temporary and contract employees in the market. The phenomenal growth of the industrial and manufacturing sector is creating immense employment opportunities for economically backward communities. This sector offers flexible and dynamic workspace and ensures higher mobility of the temporary employees. The growing need for skilled-based labor is driving the demand for temporary employees in this industry.

Developing centralized procurement solutions

The widening skill gap is encouraging organizations to implement centralized procurement solutions to adapt to the dynamic trends in the staffing market.  The introduction of these solutions will help companies to optimize their supply management operations and result in procurement transformation. These systems are designed to evaluate the metrics of the procurement business processes, current procurement talent management practices, performance metrics, and tools. Centralized procurement solutions help improve the talent management operations and ensure strategic sourcing processes.

Solutions SpendEdge offer to businesses

SpendEdge’s supply market intelligence on temporary or contractual employment helps manufacturing companies assess the supply market dynamics, price negotiation strategies, market trends, and key supplier engagement models. The solutions offered are listed below:

  • Offer comprehensive information on suppliers’ service offerings and cost structure, factors influencing contract terms, pricing, and service level agreements
  • Help shortlist the best-suited contracted workforce suppliers in the market
  • Provide a detailed overview on how to reduce the overall category spend, benchmark the pricing standards, and effectively identify the top suppliers
  • Deliver insights into the supplier cost breakup and suppliers’ performance evaluation criteria
  • Design and develop strategies to improve the sourcing and procurement process

Read our complete case study titled – SpendEdge’s Supply Market Intelligence Helps a Leading Manufacturing Company

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IR35

Artificial Intelligence and Automation-based Sourcing and Procurement to Revolutionize the Food and Beverage Industry

The latest supply market intelligence study by SpendEdge on sourcing and procurement offers a detailed understanding of the supplier selection, supplier relationship management, and evaluation of potential suppliers in the food and beverage industry.

Is e-procurement the new way?

The suppliers in the food and beverage industry are focusing on developing effective strategies to implement successful sourcing processes, build stronger vendor relations, and identify price negotiation opportunities. The stringent food safety regulations and the rise in commodity prices are encouraging the suppliers to optimize their supply chains to maintain their profit margins. Adoption of intelligence sourcing and process efficiencies, building robust supplier and contractor relationships, and implementing e-procurement solutions will boost the visibility of the supply chains. E-procurement solutions initiate automation in the business process, improves workflow, allows the implementation of new functionality such as online bidding and electronic POs and enhances connectivity with external supply chains. The suppliers are also focusing on developing mobile technology and cloud-based solutions to improve the supply chain management and reduce the operational costs.

SpendEdge’s latest supply market intelligence study helps companies streamline their sourcing and procurement processes that decrease the overall category spend and secure the company’s future commercial success. The organizations are investing in solutions that measures, manages, and analyzes the supply chain workflow to identify the defects on real-time and help increase the sales revenue. Moreover, the solutions are aimed to increase the visibility, optimize the functionality, enhance demand management, distribution planning, and production scheduling. By creating a strong supply chain, vendors can increase their profitability and expand their businesses to new emerging markets.

Artificial intelligence and automation

The introduction of cloud-based technologies and ERP systems are paving the way for AI and automation for effectively managing and maintenance of procurement and sourcing processes. The use of these advanced technologies is helping suppliers boost their connectivity and interactions with customers and end-users. By leveraging AI-based solutions, vendors can understand the consumer buying behavior and develop their production processes.


Increase in outsourcing activities

The outsourcing of certain parts of the supply chain is helping vendors to focus on core functionalities to develop a robust and functional workflow. Product designing, manufacturing and distributing, and information management systems are some of the few activities that are outsourced to emerging nations such as China and India that offer economic benefit to the companies. These solutions will help suppliers implement control mechanisms that will enable seamless connectivity with all points in the supply chain.

Solutions SpendEdge offer to businesses

The supply market intelligence study by SpendEdge on procurement and sourcing in the food and beverage industry analyzes internal and external databases to offer effective solutions to improve the sourcing and procurement processes. The solutions offered are listed below:

  • Analyze the latest market trends, category cost drivers, supply market, and value chain
  • Offer actionable insights into the supply market across the Americas, APAC, and EMEA regions
  • Deliver effective strategies for cost reduction and price negotiation
  • Identify the top suppliers of sugar in the target regions and analyze their contractual terms
  • Provide a better understanding of the performance evaluation criteria and solution for a better supplier relationship management

Read our complete case study titled – Supply Market Intelligence Solution Helps a Leading Food and Beverage Company

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IR17

Procurement Intelligence Study – Assessing the Procurement Best Practices in the Catering Services Market

SpendEdge’s procurement intelligence study on the catering services market for companies in the telecom sector provides information on cost structures, supplier engagement models, and procurement best practices, which can help them maximize the ROI and find the right suppliers.

Developments in the catering services market

Catering services suppliers provide the food products on-premises or at remote locations such as academic institutions and hospitals. The implementation of food safety and hygiene measures, supervising the catering staff at events, monitoring the quality of the food and its packaging, and planning production is part of the service provided by the catering companies. The different types of services offered by the vendors include mobile catering, café services, event catering, vending services, and contract catering. The growing awareness about the benefits of a balanced nutritional diet and increasing demand for personalized or customized meals is fueling the growth of the catering services market. The increasing popularity of food truck services is revolutionizing the catering services market. These food delivery options offer a wider variety of food, quick service, and are more cost-effective than most of the dine-in restaurants. The growing focus on service innovations such as the use of trending cooking styles and live kitchen counters will have a positive impact on the growth of this market.

The procurement intelligence study by SpendEdge helps companies understand the procurement trends in the catering services market and address the end-user requirements. The increasing demand for nutritious and healthy meals is creating new opportunities for service providers in the catering industry. The organizations in the market are looking for suppliers that can provide vegan and gluten-free alternatives that promote a healthy lifestyle for employees. The demand for dietetic foods or other restrictive balanced meals is boosting the demand for new service providers in the market.

Introduction of varied service stations

The emergence of a wide variety of serving stations helps catering service providers to build a strong brand for their products and attract a larger customer base. The popularity of the live-action stations is gaining immense popularity in the market. These stations feature chefs who exhibit different cooking techniques, prepare meals right in front of guests, and encourage guest interaction. Business events, conferences, and formal meetings request for grazing stations that have an elaborate display of bread, dips, salads, fruits, and light snacks.

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Focus on innovations

The growing focus on service and product innovations will help companies to remain competitive in the market. The innovations in equipment save on labor costs, reduce cooking time, and improve the quality of service. The service providers are developing pioneering packaging solutions that maintain hygiene of packaged food, reduce wastage, and enhance food safety. The use of biodegradable materials such as biopolymers and bioplastics to package meals will help service providers promote sustainability and comply with the food and environmental safety regulations. Path-breaking innovations will help service providers gain a large share of the market.

Solutions SpendEdge offer to businesses

SpendEdge’s procurement intelligence study on catering services market for companies in the telecom sector analyzes cost structures, supplier engagement models, and procurement best practices. The solutions offered are listed below:

  • Identify the right catering service providers and negotiate competitive rates
  • Offer a comprehensive understanding of the supplier engagement models, supply market landscape, price negotiation strategies, and pricing models
  • Evaluate the suppliers’ operational and functional capabilities, major regulatory compliance, suppliers’ evaluation and selection criteria, and strategic sustainability practices
  • Categorize the supplier engagement models, cost category drivers, and key market trends
  • Track the latest trends in procurement to help the client maximize their ROI and find the right suppliers

Read our complete case study titled – Procurement Market Intelligence Solutions Helps a Global Telecom Company

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IR7

Price Negotiation Strategies for Media Buying Through Procurement Intelligence Study

The recent procurement market intelligence study by SpendEdge on media buying and planning helps companies in the FMCG industry to assess the supply market landscape and shortlists media agencies that have strong capabilities and the best prices for its substantial media budget.

Trends in the media buying market

Media buying and planning primarily deals with negotiating, strategizing, and evaluating procuring time of advertising spaces on several media channels such as radios, televisions, newspapers, magazines, and the Internet. An effective media buying strategy will help companies to reach the target audience most economically and efficiently that results in maximized ROI. The increasing media spend on digital platforms, and the introduction of programmatic buying and real-time bidding platforms is fueling the demand for these services in the market. The development of new businesses and start-ups in the emerging nations of India, China, and Mexico is boosting spending on ads and content in the region. Service providers are focusing on expanding their businesses in these regions to increase their revenues and profitability. SpendEdge’s procurement intelligence study on media buying provides a detailed understanding of the supplier engagement models, suppliers’ evaluation, and selection criteria, and cost breakup and positioning for companies in the FMCG sector. This study also offers a complete overview of the sourcing and procurement best practices, current market trends, and pricing models.

The increasing focus using correct content and marketing it efficiently is the new emerging trend in the digital media space. Companies are leveraging the quality of the content to build brand value amongst the external and internal stakeholders. Furthermore, creating and distributing valuable and relevant information on online media platforms will help enterprises attract and acquire more customers. Developing effective content marketing strategies will help companies analyze the consumer buying patterns through their social media interactions.

Programmatic buying to automate media marketing

Programmatic buying allows companies to target a specific group of people and demographics thereby, optimizing and automating the media buying process. By adopting these solutions, companies ensure efficiency in transactions as it cuts down complex tasks in the media buying process and results in cost-effectiveness by eliminating the middlemen. Programmatic buying helps enterprises buy advertisement slots on a real-time basis and significantly reduces the costs associated with digital media planning and procurement.

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Adoption of social media analytics

The leading FMCG companies are implementing social media analytics tools to identify their target audience and select the most effective media placement for advertisements and marketing campaigns. The increasing use of social media platforms such as LinkedIn, Facebook, YouTube, and Instagram is encouraging companies to develop effective marketing strategies for these platforms and boost the requirement for media buying services. This analytics identify the behavioral patterns of the target audience and understand which platforms will help achieve desired visibility objectives.

Solutions SpendEdge offer to businesses

The recent procurement intelligence study by SpendEdge on media buying provides an overview of the key suppliers operating in the market, latest trends in procurement, and the service level agreement terms. The solutions offered are listed below:

  • Offer a better understanding of the supply market, which helps identify the key media buying and planning service providers
  • Design effective strategies on cost structure, price negotiation, sourcing and procurement best practices, and supplier engagement models
  • Provide information on cost-saving opportunities, pricing models, price negotiation strategies, service level agreement terms, and contract terms and conditions
  • Deliver comprehensive insights on supplier engagement models, suppliers’ evaluation and selection criteria, and cost breakup and positioning
  • Analyze the supply market landscape and shortlist media agencies

Read our complete case study titled – Procurement Market Intelligence Solution Helps a Leading FMCG Company

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