LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global campaign management software (CMS) market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Amrita Choudhury, a lead analyst from Technavio, specializing in research on enterprise application sector, says, “The global CMS market is expected to grow at a CAGR of more than 19% during the forecast period due to the proliferation of small and medium-sized enterprises. The recent emergence of cloud technology has enabled SMEs to use CMS for marketing activities such as conversion rate optimization, market content creation, branding, and social media marketing. CMS also helps users understand the market processes, brand their products, and manage the assets of their organization.”
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The top three emerging market trends driving the global campaign management software market according to Technavio ICT research analysts are:
- Emergence of omnichannel marketing
- Emergence of location-based marketing
- Use of predictive analytics in CMS
Emergence of omnichannel marketing
Omnichannel marketing is the utilization of multiple channels, such as mobile, desktop, telephone, and retail stores for marketing and sales. It gives customers an integrated and seamless shopping experience. The implementation of omnichannel marketing is essential for brands that are trying to expand their national and global footprint. Organizations are compelled to possess a comprehensive knowledge of the various marketing channels that are employed in this process. It provides marketing and sales companies an opportunity to identify, engage, and convert their target audience, gain more revenue, and increase ROI.
CMS is a combination of diverse marketing operations such as marketing asset management, digital asset management, and content management. It helps organizations in the production, distribution, collaboration, and measurement of assets and other marketing resources of a campaign or program. The campaign software also helps in controlling quality, reducing time-to-market, tracking, delivering, and budgeting.
Emergence of location-based marketing
Location-based marketing gathers information about the locations of a company's customers and utilizes it to market products and services effectively. It uses GPS technology to track smartphones of potential customers and deliver multimedia content based on the targeted locations. It also helps customers search and identify nearby businesses and choose the best deals.
“CMS uses historical and reference data from enterprises, CRM, and ERP. It also uses real-time data feeds from websites, social media, and mobile applications, and location of a customer to create unique, personalized content for every customer. This personalized marketing helps companies earn more customer loyalty and brand awareness,” says Amrita.
Use of predictive analytics in CMS
Predictive analytics is based on analytical techniques that enable the study of current or historical data and apply the observations to make decisions about the future. Predictive analytics focuses on the preferences and requirements of customers and provides the right channel, customer, timing, and a profitable marketing campaign.
Predictive analytics determines the segment of the customer base that should be targeted. It significantly reduces the number of customers to be contacted. This increases the response rate and reduces the cost of the campaign by 25%-35%. Predictive analytics is also used to continuously scan the customer database for the right events to trigger campaigns. This type of event marketing considerably increases the customer response rate.
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