What are the major market drivers for Marketing Automation Software?

Marketing Automation Software is built completely on technological tools and thus with current technological advancements, there is expected to be high demand for this software. few of the expected technological advancements that can be seen in the near future are listed below. 

Marketing Automation is the ultimate software to automate recurring marketing tasks. It has become one of the favored tools of marketers. The software guides customers through their entire marketing journey and ensures that the customer satisfaction rate is high and helps retain customers. Marketing automation software also guides marketers in creating marketing strategies so that they can target the right audience and convert it into customers. The software plays an important role in increasing business revenue and business efficiency. 

The growing acceptance of SMAC technologies – Over the last decade, there has been speedy adoption of Social, Mobile, Analytics, and Cloud (SMAC) technologies across numerous industry verticals. Organizations are implementing innovative technologies to modernize marketing processes, gain deeper insights, and provide enhanced customer satisfaction. Furthermore, SMAC technologies affect every facet within an organization, and hence, are expected to be the major driver in the marketing automation market. The integration of Marketing Automation solutions with numerous business applications and platforms allows businesses to accomplish their objectives easily. Moreover, organizations are undergoing a digital transformation with SMAC technologies. Nowadays, social media platforms have become an unavoidable necessity. The social presence of an organization helps ease the communication process with customers to get real-time responses. Mobile applications improve customer engagement, as they help customers operate applications from remote locations.

Security and privacy issues for private data – Data privacy and security are critical factors to be considered while implementing digital enablement technologies. As the use of SMAC technologies has become widespread, businesses will need more robust security and privacy to prevent breaches. The problem of security distresses the success of digitalization. With the increasing number of customer data sets, the number of security and privacy issues are also expected to increase, and every endpoint, gateway, and smartphone can become a potential target for hackers. Data privacy and security is a bottleneck that needs to be addressed efficiently.

Increasing adoption of AI and ML – The marketing landscape has transformed radically since the last few decades, even more so in recent years. Today, organizations have a large amount of data at their disposal, and enterprises collect this data from every source possible. Therefore, realizing the need to innovate new technology and understanding the limitations of existing technologies, organizations, irrespective of their size, structure, or business model, have started implementing marketing automation solutions. The Marketing Automation System has unlocked new prospects for enterprises. Moreover, AI and ML are considered as the next marketing revolution. Implementation of AI and ML in the marketing automation solution gives a competitive edge to organizations by eliminating manual work, repetitive tasks, staffing costs, and human errors. It also empowers enterprises to maximize work efficiencies and improve their accuracy for targeting customers. Therefore, in the next few years, vendors offering AI and ML, as a key functionality in their marketing automation solutions, are likely to witness higher adoption across the globe.

Integrating Marketing Automation System with other business applications – In the age of digital technology, a perplexing task for marketers is to track the online and offline journey of customers. With quick shifts in customer buying behavior, the consumer journey has become complex, as it involves different touchpoints across multiple channels. The marketing automation solutions fetch customer data from various applications to calculate the RoI. The software has to be integrated with various business applications to work properly. However, system complexities and implementation costs are still major challenges faced by organizations while integrating these solutions with their existing systems.

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