- Public relations tools ensure the secured access, storage, and maintenance of digital information in the form of images, text, and data. A new study by Grand View Research, Inc. states the worldwide public relations tools market to witness steady growth from 2015 to 2022. This may be attributed to proliferation of multiple communication channels.
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Digital media has become a powerful marketing channel in recent times. Higher adoption of mobile phones and internet, and increasing broadband connections are giving rise to digital public relations strategies. Public relations tools facilitate planning of marketing campaigns and evaluation of their outcomes.
Emergence of Saas-based public relations solutions is expected to support the public relations tools market. These solutions offer pay-per-use models. Organizations incur a one-time set-up expenditure that covers software, maintenance, upgrade, and lifetime support. This reduces their overall costs. Saas-based solutions will experience huge demand as the vendors of public relations tools use them to penetrate new places.
However, the market may be hampered by lack of coordination between marketing goals and overall business strategies. Such misalignment leaves communication strategies ineffective. Organizations are unable to target the right customers, which adversely affects returns. This is bound to discourage investments in the public relations tools market.
Popular public relations tools include media measurement, social media management, contact management, press release distribution, and media monitoring. They assist in the identification of the most appropriate media influencers. Organizations can improve their branding and connect better with their target audiences. The future will see higher investments (by large and small enterprises) in public relation strategies as means of more profits.
Key players in the public relations tools market include Cision Inc., MediaVantage, Business Wire Inc., Meltwater Inc., and UBM-PR Newswire. Other notable participants are Vocus Inc., Gorkana Group, NASDAQ OMX Inc., Marketwired Inc., and iSentia Media Ltd.
In 2014, Cision Inc. came up with CisionPoint, a tool that provides new insights and analytics into the results of public relation campaigns. It also launched two new products in 2015 – Cision Social Edition and Cision Public Relations Edition. These products offer all-inclusive integrated solutions catering to the needs of marketing and public relation experts.
In 2014, Vocus Inc. released Vocus Marketing Suite, a new analytics tool. This tool provides better customer insights and landing page customizations.
Information Source: Grand View Research
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