Digital marketing software (DMS) isn’t just used for publicising your business anymore. Nowadays, it can help companies with B2B and B2C marketing, customer relations, resource planning and web content management. The countless benefits of using DMS has attracted end-users in the retail, healthcare, business services, transportation, construction sectors, just to name a few.
No matter the industry, there are many benefits to using digital marketing software, and this versatility is a huge reason why the market is expected to grow at a CAGR of 14.25 percent for the 2012-2016 period.
This impressive growth rate is due in part to an increased focus on digital media. In recent years, digital media has transformed the way consumers share information and make purchase-related decisions. More end-users are investing in internet marketing features like e-mail, mobile and social media to connect with consumers, and as the number of internet users climbed to about 2.5 billion in 2012, digital media has proved to be the top marketing strategy today. Key factors, like the ones mentioned below, are why thousands of companies are sinking money into the digital media sector of the DMS market.
- Globalization
Many developing countries are rapidly adopting new technologies such as broadband, 3G, laptops, smartphones and tablets which is making online shopping much more accessible. Marketers are taking advantage of the many features of DMS to capitalize on these emerging market regions.
- Changing Consumer Lifestyles
People are continually looking to online resources to make purchases because of how easy and accessible it is. More and more companies are investing in their websites to provide online catalogues and purchasing options their customers.
- Integration of Business Processes
Most DMS providers have reformatted their websites to attract new customers and improve marketing and communications. This has paved the way for new product testing and data gathering for consumer preferences.
In addition to digital media, several other factors are expected to contribute to market growth like:
- The need to effectively manage customer experience
- An increasing need for competitive strategies
- Demand to improve marketing effectiveness
As you can see from the table above, all of the market drivers mentioned will have an extremely high impact on the DMS market, specifically for large enterprises. As well, emerging trends, such as Software as a Service (SaaS) which uses a pay-per-use model, enables more small and medium-sized enterprises to adopt DMS software because SaaS requires a substantially lower initial investment.
All things considered, it is pretty safe to assume that the internet isn’t just a fad…it is here to stay, and as more consumers turn to the web for purchases, digital marketing software will continue to be needed by companies vying for an edge in the market.
For more information, view our 2012-2016 Global Digital Marketing Software Market report.
