Any and every business operates on the very simple principle of turning leads into conversions. Nowadays that usually translates to turning visitors to your website into paying customers.
However, global markets are getting more competitive and companies are realizing that in order to get ahead, you have to do more than offer a solid product or service—you have to fully engage with both current and potential customers on an ongoing basis. An onerous task, especially when dealing with today’s huge customer bases.
So it’s no wondering that the Global Marketing Automation Software Market is growing at a CAGR of 8.57 percent from 2014-2018. This software helps marketing departments compile and track leads, budgets and sales to determine return on investment and measure campaign effectiveness. It also lets organizations design strategies, automate processes, improve customer communications and acts as a major part of customer relationship management (CRM).
TechNavio analysts have identified four major trends affecting the Marketing Automation Software Market:
Integration of Cloud Computing with Marketing Automation
Focus on Customer Relationship Management
Increasing Focus of Vendors in Developing Nations
Growing Use of Social Media
Integration of Cloud Computing with Marketing Automation
More storage options, scalability and access flexibility make cloud computing a perfect match for marketing automation. Cloud-based systems are cost effective and easily accessed by multiple users at any time and in any place. And the pay-per-use model reduces the burden on companies to make huge investments in software and allows organizations to scale marketing automation modules much more easily.
Focus on Customer Relationship Management
At its core, marketing automation software seeks to help companies provide the best quality products and services to their customers. Increased intensity of competition across several industries means that these companies have to work harder to retain old customers and obtain new ones. Because marketing automation software helps organizations understand and analyze customer behavior, and connect with customers, these increased levels of competition are spurring on the market as companies try to connect with potential customers and stand out from the crowd.
Increasing Focus of Vendors in Developing Nations
A growing middle class and the related increase in spending power in developing nations like China and India is another major trend in the growth of the marketing automation software market. These geographical areas represent a whole new customer base for many companies, and marketing software allows them to gain a better understanding of customers in these areas. This, in turn, means that they can offer new and innovative products and services targeted to a specific demographic.
Growing Use of Social Media
Nowadays you can’t talk about business without talking about social media. The sheer volume of users on social network sites provides a treasure trove of market insights that companies can use to their advantage, just as long as they have the ability to organize and analyze the vast amount of information. Marketing automation software helps provide these key insights into popular content on social networks. It can also perform behavioural analysis, and help manage social network accounts and marketing campaigns. This kind of a leg-up is just another reason for the increased popularity and projected growth of the Marketing Automation Software Market.
For more insights, including key vendors in this market, view our Global Marketing Automation Software 2014-2018 Report.
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