Exploring the Benefits of Social Media Management Procurement Intelligence [Business]
The global social media management category is anticipated to grow at a CAGR of 23.3% from 2023 to 2030. Key factors that drive the growth of the category include rising use of social media platforms, increase in smartphone usage, rising global focus on competitive intelligence, and increased adoption of category solutions to optimize, monitor, and administer the online presence of a business enterprise on various social media networks. The category is expected to witness further rise in demand as businesses are turning to social media marketing for easier attraction, conversion, upsell, and cross-sell of their goods & services. In addition, they can use the platform to manage their reward-based loyalty programs for their intended customer base. However, constraints related to regulations and compliance may hinder the growth of global category as non-adherence of privacy & data protection laws would require businesses to pay heavy fines and may even lead to legal proceedings & actions.
Cloud computing, augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) are key technologies that are transforming the functioning of the category solutions. AI is being highly utilized in social media marketing as it supports in the automation of marketing operations such as data analysis and scheduling articles.It can also be used to produce customized content and target advertisements more effectively. A major shift in social media management is sparked by the integration of virtual reality (VR) and augmented reality (AR) into social media platforms. Due to this innovation, there is a growing need for all-inclusive social media marketing solutions that can leverage AR and VR to improve user engagement and marketing.Social media platforms use these tools to produce immersive content, such as live virtual reality events and virtual showrooms, as well as interactive filters and 3D advertisements.
Order your copy of the Social Media Management Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
The category for social media management exhibits a fragmented landscape, with the presence of large number of global industry players. Players in the industry are heavily spending in emerging technological solutions with an objective to enhance their offerings. In addition, they are adopting strategies such as joint ventures, mergers & acquisition, introduction of new product or service, in order to extend their market share. The category may face slight complex future. Amidst fragmentation, few players will target to recruit general practitioners who are knowledgeable about all platforms and are not restricted to any one platform, while others will aim to engage platform-specific specialists. Suppliers in the category possess low to medium negotiation capability which varies by the fact how their solution is offering more value to a buyer in terms of capability and price, subject to the intense competition.
Cost incurred on producing content and introducing a new social media platform, cost incurred on campaigns for social media advertisements, and cost associated with platform administration are the key components that constitute services offered in the category. Factors such as personnel sourcing (in-house vs. outsourced) and third-party tools influence the anticipated expenses associated with social media management. While debuting on a social media platform is technically free, maintaining a profile and planning content may run a brand's monthly expenses between USD 499 to USD 9,999. In addition, a platform-specific advertising strategy requires a minimum monthly investment of USD 4,999 to be successful. Furthermore, managing multiple platforms either though an agency or a social media management tool would incur monthly expenses between USD 499 to USD 9,999. Factors that influence the price include features being used, community size, volume of inbound messages & mentions, and number of profiles being managed.
North America region dominates the global social media management category, holding a substantial share. The region offers a plethora of prospects due to its well-established market, risk-taking attitude, and preference for technological advancements offering numerous opportunities for players in the region. In addition, the region is characterized by broad base of social media users and the increasing significance of social media management tools. Furthermore, the regionwill generate more money as a result of verticals using social media networks as a vital tool for customer engagement and marketing. Reviewing the client testimonials of the service providers, assessing the social media tools that are utilized by the service provider, evaluating a service provider’s compatibility and communication policies, comparing the fee charged by various service providers to fetch the best value are some of the best sourcing practices considered in this category.
Browse through Grand View Research’s collection of procurement intelligence studies:
• IT Asset Disposition Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Cyber Security Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
Social Media Management Procurement Intelligence Report Scope
• Social Media Management Category Growth Rate: CAGR of 23.3% from 2023 to 2030
• Pricing Growth Outlook: 5% - 10% increase (Annually)
• Pricing Models: Price per hour, Price per activity, Retainer based prices
• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, Geographical presence
• Supplier Selection Criteria: Industries served, years in service, revenue generated, sales & marketing management, customer experience management, competitive intelligence, risk management & fraud detection, platform management, content development, and others
• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
Key Companies
• Digimind S.A.
• Hootsuite Inc.
• Meltwater
• Qualtrics LLC
• Runtime Collective Limited (d.b.a. Brandwatch
• Salesforce, Inc.
• Sendible Limited
• Socinova
• Sprinklr, Inc.
• Sprout Social, Inc.
• WebFX
• Zoho Corporation Pvt. Ltd.
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
Unlocking Success through Employee Training Services Procurement Intelligence [Business]
The employee training services category is expected to grow at a CAGR of 8% from 2023 to 2030. North America is the leading market for corporate training, accounting for 43% of the global market. This is due to the presence of large corporate MNCs and giant IT organizations in the region. These companies invest heavily in corporate training to improve the work-life balance and efficiency of their employees. Europe and Asia Pacific regions are expected to grow at the fastest CAGR in the coming years. This is due to the increasing startup culture and the setup of new companies in these regions. These new companies will require corporate training for their employees to ensure that they have the necessary knowledge and skills to succeed.
Established players are investing considerably in the development and bolstering of their training programs to secure increased employee retention and improve brand recognition. Collaboration with emerging startups enables established companies to make use of the advantages of their goods and increase the scope of their product offering. Due to the fast adoption of mobile devices and the rising levels of digital literacy among employees, market participants are using online or web-based training modules to keep learners interested in the learning process. The market is likely to see more opportunities as vendors increase their partnerships with cloud service providers. For instance,
• In March 2023 A learning and talent-development company, Hemsley Fraser, announced the acquisition of STS, a project management training company, and MindOnSite (MOS), a maker of online training systems. With the addition of new technologies like gamification, learning management systems (LMS), smart learning portals, and project management simulation tools, the acquisitions will improve Hemsley Fraser's product portfolio.
• In February 2023 GSoft, a Montreal-based software company, acquired Didacte, a learning management system (LMS) platform provider. GSoft offers employee experience solutions like ShareGate, Officevibe, and Softstart, while Didacte provides a web-based LMS platform for training courses.
The implementation of uploaded and streamed videos into the educational process is a result of the growth of high-speed internet networks. Through the use of videos, learning strategies are expanded. For instance, the usage of video has made tasks like taking notes, providing feedback, responding to inquiries, and tracking progress straightforward. With video-based learning, users have the choice to watch the video at any time and from any location while also being able to rewind, store, and view the content at their convenience. The rapid increase of wireless network connectivity is assisting in the development of e-learning software, which is anticipated to accelerate market growth throughout the forecast period.
Order your copy of the Employee Training Services Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Employee Training Services Sourcing Intelligence Highlights
• The global employee training services category is fragmented, with the presence of several market players. Employee training service suppliers invest in AI and engage in strategic collaborations to stay competitive and meet evolving business needs. Artificial intelligence is being employed in corporate training programs. Service providers also deploy bots to guide learners through the curriculum.
• Content development, instructor/facilitator fees, technology and infrastructure costs, venue and equipment expenses, travel and accommodation costs, and administrative costs form the most significant cost component in category implementation.
• The type of training, delivery format, number of participants, duration, the expertise of trainers, customization, technology requirements, location, materials and resources, evaluation, and feedback significantly influence the price.
Browse through Grand View Research’s collection of procurement intelligence studies:
• Advertising Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Digital Procurement Systems Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
List of Key Suppliers
• Skillsoft
• LinkedIn Learning
• Pluralsight
• Cornerstone On Demand
• Udemy for Business
• OpenSesame
• GP Strategies
• D2L Brightspace
• SAP Litmos
• Coursera for Business
• EdCast
Employee Training Services Procurement Intelligence Report Scope
• Employee Training Services Category Growth Rate: CAGR of 8% from 2023 to 2030
• Pricing Growth Outlook: 3% - 4% (Annually)
• Pricing Models: Cost plus pricing, subscription-based pricing
• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence
• Supplier Selection Criteria: Technical expertise, experience, cost and quality of service, capabilities and reliability, customer service,
• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
