A buying guide for Social Events category – enriched with research on Social Events procurement spend patterns, Social Events pricing intelligence, market dynamics and top suppliers of Social Events.
GET FREE SAMPLEEcosystem of the global Social Events category is intertwined with the larger parent market of Promotion. Our category definition describes that overall Promotion market includes all spend on procurement of promotional goods and services and may also include spend related to outdoor promotion activities such as transit advertising and retail advertising.
A changing ecosystem within the Promotion market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Social Events. An intense competition in the supply market owing to new entrants is expected to provide more procurement options to buyers for Social Events and offer significant negotiation leverage.Rising cost of workforce possessing core skill sets is expected to offset some of the cost savings that suppliers are expecting through implementation of lean and technology-based operations.Buyers are moving towards longer contract durations and strategic partnerships with suppliers to benefit from value-based discounts, integrated services, low renewal cost and lesser expenses on contracting activities.
As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Social Events category procurement. The report offers a succinct analysis of Social Events procurement best practices. For example, Buyers should ensure that service providers use digital asset management tools for storing and retrieval of digital assets such as photographs, video graphs, music, animation content. Buyers can use these tools to increase their brands consistency and optimize their workflow. Buyers must ensure that service providers cater to their requirements by implementing centralization of content to maintain the project objective. While engaging with a service provider, buyers should procure creative services from a tier 1 creative agency and outsource the production work to a local agency to reduce billing rates.
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Social Events procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Social Events procurement. Some examples include:
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Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!
You may have just initiated your research to design a winning Social Events procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.
The report is intended to serve as a one-stop reference guide for Social Events procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Social Events: Procurement Report 101” as well as for category experts actively tracking the global Social Events procurement market.
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The Social Events procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:
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The Social Events market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.
A key highlight of this report is the in-depth outlook created on Social Events procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Social Events. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Social Events market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.
Additionally, the report also advises on the best practices and strategies to manage the Social Events category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.
Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”
SpendEdge presents a detailed picture of Social Events procurement solutions 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.
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