SaaS Marketing Influenced Digital Ad Spending Projected To Reach $455.30 Billion In 2021
PALM BEACH, Fla., June 9, 2021 /PRNewswire/ -- SaaS marketing is a type of marketing that specifically focuses on promoting and acquiring leads for subscription-based SaaS products. SaaS, also known as Software as a Service, is a way in which businesses sell their products in cloud-based applications with regular updates and added functionality. Compared to businesses with physical products or one-time purchases, SaaS businesses offer an intangible product and need to continually prove to their current and potential customers that their "rented" or subscription service is worth the monthly fee. In 2020, worldwide ad spending had its most disappointing year on record in terms of growth, but the final figures outperformed dire mid-pandemic projections. Digital ad spending, meanwhile, held up surprisingly well according to eMarketer. It said: "Despite historic economic disruptions, worldwide digital ad spending nearly matched our pre-pandemic forecast for 2020. In February 2020, we forecast 13.6% growth for digital ad spending worldwide for the year. The final figure was a very close 12.7%. However, total ad spending declined by 1.2%, driven by a 15.7% contraction in traditional ad spending." The article discussed how digital ad spending will fare in 2021. It said: "Total digital ad spending will reach $455.30 billion this year. Of that, 55.2% will go to display advertising, and 40.2% will go to search. As recently as three years ago, the gap between display and search was only around 10 percentage points, but now it is 15, equating to $68.12 billion more in spending for display than for search. Consumer shifts toward social media and digital video are accelerating the rise of display." Active tech companies in the markets this week include Alfi, Inc. (NASDAQ: ALF), Five9, Inc. (NASDAQ: FIVN), LivePerson, Inc. (NASDAQ: LPSN), The Interpublic Group of Companies, Inc. (NYSE: IPG), Slack Technologies, Inc., (NYSE: WORK).
eMarketer continued: "Of the 37 national markets we cover, only China recorded overall ad spending growth in 2020, at 7.4%, but even that increase represented a huge deceleration. This year, all markets will bounce back. India will lead the pack with a 31.7% ad spend increase and will remain No. 1 in growth at least throughout our forecast period to 2025. Most countries will return to or exceed their 2019 trend lines for digital ad spending growth. Worldwide digital ad spending increased 12.7% last year, almost as much as what we projected pre-pandemic (13.6%). This year, as the overall ad market rebounds, digital spending will increase by 20.4%."
Alfi, Inc. (NASDAQ: ALF) BREAKING NEWS: Alfi Commences Operation of New "Alfi Ads" Call Center in South Florida - Alfi, Inc. ("Alfi" or the "Company"), an AI enterprise SaaS platform company powering computer vision with machine learning models to allow content publishers and brand owners to deliver interactive, intelligent information without violating user privacy, today announced that it has commenced operation of its South Florida call center. These call centers are a key part of the DOOH onboarding process for advertising for small and medium businesses (SMB). The Alfi Ads call center targets small and medium businesses that would otherwise never pay an ad agency to manage an ad campaign for them. The call centers focus on key cities and augment the Alfi planned rollouts nationwide.
"We are seeing unparalleled results with our call centers and at the same time, allowing small business owners to have access to a well-structured and very targeted ad campaign. Most of these small business owners would otherwise never have the opportunity to collect key metrics on their customers and their behavior. Alfi does this in a privacy compliant manner", said Chris Davis, Sales Director of Alfi Ads. "I have been in the call center business all my life and this is one of the most innovative approaches to selling a product that I have ever seen."
Utilizing Alfi's technology, Small Business Owners can optimize their marketing and deliver powerful reach, dynamic visuals, and tailored message capability by age, gender, geography, demographics, brand behavior and interests, all in real-tim. Alfi's computer vision can change and run ads remotely to deliver the right content, to the right person, at the right time in a responsible and privacy compliant manner.
Alfi provides data rich reporting functionality that informs the advertisers that someone viewed their ad, the number of views, and each viewer's reaction to the ad. Advertisers are increasingly demanding improved performance and capabilities from the ad technology they utilize. Alfi delivers for advertisers with analytics, accountability, transparency, proof of engagement and actual impressions. To get more information about ALFI, please visit: https://www.getalfi.com
Other recent developments in the markets include:
Five9, Inc. (NASDAQ: FIVN), a leading provider of the intelligent cloud contact center, recently announced a new strategic partnership with Mitel, a global leader in business communications. Mitel will now feature the Five9 Intelligent Cloud Contact Center as its exclusive contact center as a service (CCaaS) partner for its worldwide client base.
"Organizations across various industries and geographies rely on Mitel for their communication and collaboration needs and, for many of them, contact center plays a critical role in the overall communications experience," said Graham Bevington, Executive Vice President, Transformation Office at Mitel. "Five9's intelligent cloud contact center suite, strength in the enterprise market, and customer-centric values are a perfect complement to Mitel's contact center offering. We look forward to working closely with the Five9 team to help customers differentiate themselves through more human, empathetic customer engagement experiences, which are vital to building loyalty, trust and, ultimately, business success."
LivePerson, Inc. (NASDAQ: LPSN), a global leader in conversational AI, and Google Cloud recently announced they are teaming up to help brands make contact center agents more efficient and effective through the power of AI.
Brands using the Conversational Cloud can leverage powerful AI recommendation tools for agents. LivePerson's Conversational Cloud and Google Cloud Contact Center AI's Agent Assist are now integrated to provide agents with real-time recommendations for replies to customer messages, as well as suggested text to complete sentences as they type. By taking advantage of these AI-powered recommendations, agents can efficiently move conversations toward satisfying resolutions.
The Interpublic Group of Companies, Inc. (NYSE:IPG) recently announced First Quarter 2021 results.
"We are pleased with results this quarter. Our strong start to the year reflects the quality of our talent, across the organization, and underscores the successful evolution of our offerings at a time of accelerating, transformational change. Our ability to create marketing and media solutions that bring together outstanding creativity with the benefits of technology, and an ethical approach to data management, positions us to address higher-order business opportunities. This combination was a key driver of growth during Q1. Further, our return to growth coupled with the benefits of strategic restructuring actions taken last year, and certain variable expenses that remain at very low levels, led to outstanding margin performance this quarter."
Slack Technologies, Inc., (NYSE: WORK) recently reported financial results for its fiscal quarter ended April 30, 2021.
"Companies globally are racing toward a digital-first way of working to attract talent and to win," said Stewart Butterfield, Chief Executive Officer and Co-Founder at Slack. "Slack is not just embracing this trend, we are enabling it. In Q1 we saw a near-record number of Paid Customer additions, a record number of Paid Customers adopting Slack Connect, and approached 1 million active developers on our platform." "We saw rapid growth across segments in the first quarter, adding 13,000 net new Paid Customers and 102 net new Paid Customers spending greater than $100,000 annually," said Allen Shim, Chief Financial Officer at Slack. "We also continue to drive substantial leverage. In Q1, we generated a record amount of free cash flow and expanded non-GAAP operating margins 1200bps year-over-year."
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