Digital Marketing Software: Introduction
- Digital marketing software is a powerful marketing strategy adopted by business merchants. Digital marketing, also known as online marketing, includes advertisement through email, social media websites, and web marketing. Digital marketing software consists of meeting customers at many different touch points, and using content to move them along their journey, including important segments such as search engine optimization (SEO).
- Digital marketing software allows companies to strengthen and build their customer relationships using multiple digital marketing channels such as social networking sites and instant messaging services.
- Digital marketing software encompasses online display advertisements within any application or website; it generally occurs before, during and/ or after a video stream on the internet.
- The global digital marketing software market is projected to expand at a rapid pace during the forecast period, due to increasing demand to adopt innovative ways of marketing to attract customers in the digital world.
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Global Digital Marketing Software Market: Dynamics
Global Digital Marketing Software Market: Key Drivers and Restraints
- Increase in demand for automation of marketing processes is expected to boost the digital marketing software market during the forecast period.
- Increasing technological advancements and changing consumer behavior have encouraged advertisers to adopt innovative ways of advertising. This is primarily because the currently consumer is more focused on brands and products. Hence, demand for digital marketing software is expected to increase during the forecast period.
- Rise in adoption of Augmented Reality (AR) and Virtual Reality (VR) technology in digital marketing is expected to boost the demand for digital marketing software across the globe.
- Increase in online shopping and significant shift in consumer buying patterns have pushed the demand for digital marketing software
- Increasing popularity of mobile advertising with increasing adoption of smartphones, smart televisions etc., in rural and urban areas across the globe is estimated to propel the global digital marketing software market during the forecast period
- Increasing trend of location-based advertising, video advertising, and social media advertising across the globe is anticipated to boost the demand for digital marketing software during the forecast period
- Integration challenges or compatibility issues of digital marketing software tools with other business applications is anticipated to hinder the digital marketing software market.
- Additionally, security and privacy concerns about confidential data is expected to hamper the digital marketing software market during the forecast period
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Impact of COVID-19 on the Global Digital Marketing Software Market
- The COVID-19 pandemic has caused a significant drop in advertising spending by end-users. For instance, according to the Interactive Advertising Bureau, spending on advertisements are down 9% on average across Europe, with Germany and France falling by 7% and 12% respectively. Additionally, in China, advertising revenue is down by around 15%. During the COVID-19 pandemic, in-home media usage, TV viewership, and use of social platforms and streaming services is increasing; hence, advertisers are adapting a digital advertising marketing strategy. This, in turn, is projected to have a positive impact on the global digital marketing software market.
North America to Hold Major Share of the Global Digital Marketing Software Market
- In terms of region, the global digital marketing software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global digital marketing software market in 2019. Most of the major brands and companies are finding a broader target audience to promote their content and market their products and services online, thus, driving the demand for digital marketing software in the region.
- The digital marketing software market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to growing investments by telecommunication players on providing high-speed internet services, which in turn increases the adoption of smart devices, OTT platforms, social media platforms etc. which indirectly propels the digital marketing software market.
Global Digital Marketing Software Market: Competition Landscape
Several local, regional, and international players are active in the digital marketing software market with a strong presence. Rapid technological advancements have led to opportunities in the global digital marketing software market. Digital marketing software vendors are focused on an inorganic growth strategy such as strategic collaborations and merger and acquisition activities with technology partners, to develop innovative and advanced solutions to improve their offerings and market reach.
Key Players Operating in the Global Digital Marketing Software Market
- Act-On Software
- Adobe Inc.
- Hubspot, Inc.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Salesforce.com, Inc.
- SAP SE
- SAS Institute
Global Digital Marketing Software Market: Research Scope
Global Digital Marketing Software Market, by Component
- Customer Relationship Management
- Email Marketing
- Social Media Advertising
- Search Marketing
- Web Content Management
- Marketing Automation
- Others (Campaign Management, Video Advertising)
Global Digital Marketing Software Market, by Deployment
Global Digital Marketing Software Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Digital Marketing Software Market, by End-user
- Banking, Financial Services & Insurance
- Transportation & Logistics
- Consumer Goods
- Retail & E-commerce
- Media & Entertainment
- IT & Telecommunication
- Travel & Hospitality
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.