Marketers today have exposure to an unlimited amount of customer data, making Omnichannel experiences and personalization possible. However, with limited resources, automation tools are becoming the need of the hour for businesses across the globe.
A new forecast by Frost & Sullivan confirms that the marketing automation solutions market is set to reach US$6.36 billion by 2025 as a direct result of the growing significance of Omni channel marketing.
Marketers are exploring various automation solutions to make sense of the vast customer data repositories, turning them into intelligent, actionable, leads for sales enablement.
Frost & Sullivan Digital Transformation Research Analyst Melody Siefken suggests that competition in the marketing automation space is based on the breadth of integrations and functions offered, particularly with the vertical-specific combinations. The analyst firm’s consultants believe that high-tech software and business services are the top verticals utilizing automation, as marketing agencies encompassing most business services use cases.
Further, Siefken confirms advances in analytics, especially predictive analytical tools, will hold crucial importance for customers to transform the Omni channel marketing experience drastically.
According to analyst firm Frost & Sullivan, Europe, and North America will multiply expenditure on marketing automation solutions. In the APAC, where medium and small-sized businesses prevail, the labor costs are drastically low, and growth in marketing automation expenditure is also expected to be less pronounced.
Automation helps improve the Omni channel marketing experience drastically across industries. In comparison to the traditional marketing strategies that aim to deliver the universal message across platforms, Omni channel marketing seeks to manipulate the message, depending on the customer interaction with the brand, irrespective of the channel or platform being used.
For example, a customer at an e-commerce store adds a pair of running shoes to cart on a mobile device; the Omni channel marketer must provide coupon codes that are relevant to the customer, and upsell relevant skills knowing that the customer is looking to invest in running equipment and gear. However, marketers on e-commerce sites and other business platforms tend to engage with thousands of customers at a given point of time.
Customizing the marketing message for each of them, across different channels and devices they use, is not easy. This is precisely where marketing automation appears to create a strong engine, using filters and rules to provide the right message supporting the customers.
Omnichannel marketing puts the customer at the epicenter of everything. Using automation tools makes it possible for marketers to ensure that each customer feels special.
With customer expectations rising, marketers are looking forward to every opportunity to improve the experience they provide. Hence, investments in marketing automation can only grow in importance — as forecasted by Frost & Sullivan.