Multichannel Campaign Management Market

Multichannel Campaign Management Market Analysis

The Multichannel Campaign Management Market is expected to register a CAGR of 23.7% during the forecast period.

• An increment in data transfer through plenty of channels including mobile & smartphones, emails, and websites, among others is driving the demand for a multichannel campaign management market, as Cisco Systems Inc., states that by 2022, mobile data traffic is expected to reach 77.5 exabytes per month globally at a compound annual growth rate of 46%, thus fueling the market growth.
• Besides, a high degree of competition in the digital marketing industry restrains the growth of the global Multichannel Campaign Management market. Customer-centric solutions followed by proximity marketing act as opportunity factors in the growth of the global Multichannel Campaign Management market (MCCM).
• According to FICCI, the digital advertising industry across India had a market size of around INR 160 billion in the financial year 2019, up from just INR 47 billion in 2015. This was projected to go up to around INR 539 billion by the fiscal year 2024, indicating a significant growth in the industry segment, consequently the multichannel campaign management market is expected to get a boost.
• Companies like Teradata are helping large B2C organizations seeking MCCM with strength in marketing resource management and data-driven marketing to support brand engagement. As a vendor, Teradata made waves with acquisitions, bringing in capabilities such as social monitoring and control, Facebook social advertising (Argyle Social), and mobile engagement (Appoxee).
• According to EnsembleIQ, as of 2019, roughly half of consumers in the United States have experienced order online and pick up in-store services from mass merchandisers. Just under 20% of U.S. consumers experienced the same service from grocery stores.
• Other factors supporting the growth of the multichannel campaign management market include the increasing trend of mobile marketing through smartphones, tablets, and handheld devices, network, and communication advancements, changing trends in digital marketing, etc. According to PubMatic, Inc., in 2019, the US spending on mobile advertising spending was the largest amounting to USD 72.5 billion against USD 61.3 billion in 2018.
• Changing dynamics of advertisement channels, adoption of stringent regulations for mobile marketing by an increasing number of countries, the technological complexity involved in terms of compatibility, etc. are some of the restraints affecting the demand for multichannel campaign management tools and applications.

Multichannel Campaign Management Market Trends

Retail Industry Vertical to Dominate the Mrket

• Multi-channel retailing gives target customers the choice of where to buy, optimizing experience on the most relevant sales channels based on shopping behavior. It also integrates marketing and retailing strategies. As the retail industry increasingly goes digital owing to the proliferation of mobile devices and the explosion of social media channels, customers have come to expect personalized shopping experiences, with messages delivered to them through their preferred channels.
• However, delivering consistent and efficient customer experiences across channels is complicated, with so many digital platforms continually emerging and evolving. Campaign management software such as Adobe Campaign helps brands engage customers in one-to-one communications and retain customers by delivering timely and personalized content throughout the customer lifecycle.
• According to Eagle Operating Corp., in 2020, more than half of grocery retailers in the United States offered mobile shopping app services for their stores, doing it the most common omnichannel service in grocery stores that year. Third-party vendor home delivery and drive-up collection site services were also commonly provided. Just under 20% of grocery stores did not offer any omnichannel service for consumers to make use of.
• In Europe, multinational retailers from Germany, France, and the Netherlands were at the forefront of providing shoppers with excellent retail experience based on their omnichannel performance. According to a benchmark report issued by Google, the Dutch outdoor sports retailer Bever ranked as the leading European omnichannel retailer, having fulfilled 67% of omnichannel CX criteria.
• Today’s customer, with access to a variety of retail outlets (websites, brick-and-mortar stores, social platforms, mail order catalog, direct mail, mobile, email, etc.), expects individually catered communications. By adopting a 360-degree view of the customer, retailers can determine how customers choose to communicate and be ready to respond accordingly. According to a survey by SAP SE, 74% of businesses increased sales with a multichannel strategy, 64% increased consumer loyalty/acquisition, 57% reported better customer experience.
• For example, UK-based Halfords employed a campaign management approach when the growing retailer recognized it needed a more engaging email strategy to interact with its customers. Instead of using customer data to create personalized, targeted messages, Halfords investigated why customers were abandoning their shopping carts at various stages of the purchasing process, thus showing a jump in open rates and click-through rates.

North America to Dominate the Market

• The adoption rate of multichannel campaign management solutions is increasing in the North America region due to the expansion of business operations and awareness among businesses to manage the marketing campaigns and the need to control the customers across all the channels.
• Multichannel campaign management market in the United States is expected to dominate during the forecast period because of the support by increasing penetration of BFSI, IT and telecommunication companies, and an increasing number of digital marketing start-ups in the region. Moreover, owing to the substantial advancement in network and technology in North America, this region held the largest share of the Multichannel Campaign Management market.
• Some of the prominent players in the field of multichannel campaign management market in the North American region include Salesforce.com Inc., Oracle Corporation, International Business Machines (IBM) Corporation, Adobe Systems Inc., SAS Institute, Inc., and Teradata Corporation, among others.

Multichannel Campaign Management Industry Overview

The Multichannel Campaign Management Market is fragmented and consists of various new and major vendors with a strong focus on the small and medium enterprises that compete in the large enterprise segment. The major global multichannel campaign management solutions vendors included are IBM Corporation, Oracle, SAP AG, SAS Institute, Adobe Systems, Infor, Marketo, Adobe Systems, Salesforce.com, and Teradata Corporation, among others.

• June 2020 - Zeta Global, announced the launch of Opportunity Explorer(SM), a real-time market and consumer data analytics and insights solution. Designed to help marketers identify, segment and act upon growth opportunities for their businesses, Opportunity Explorer(SM) ingests demographic, behavioral and location signals from Zeta's proprietary data set of 2.4 billion identities globally, synthesizes the information in real-time and creates a customizable, interactive display of actionable insights.

Multichannel Campaign Management Market Leaders