Marketing software and solutions are software tools used by various enterprises to track the performance of marketing initiatives. Marketing software and solution enables marketing managers to evaluate the their marketing initiatives by measuring performance using important business metrics such as return on investment (ROI), marketing attribution, and overall marketing effectiveness.
Features of Marketing Software and Solutions
- Track Marketing Initiative in Real Time
- Compare a client’s marketing activities with Its competitors
- Tracks competitors are spending nature
- Comment and suggest measure on optimum utilization of resource
Change in the landscape of information technology industry and advent of social media platforms has created potential market for marketing software and solutions. These software solutions helps marketers to analyze the performance of its products in terms of hits that these products have received on digital platforms and its purchase scenario. In addition to this, marketing software and solutions also measures and analyzes customer lifetime value in the real-time. Although, these software solutions helps enterprise in taking real time decisions, they lack capabilities which can help enterprises to explore root-cause behind the triumph or catastrophe of a particular marketing campaign. To elucidate, these software and solutions can provide predictions and recommendations to a marketing team about a particular marketing campaign, however, does not provide key parameters taken into consideration for these predictions and recommendations
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Marketing software and solution market on the basis of applications:
- Social Media Marketing:
Social media marketing is the process of gaining traffic or attention on a website through social media sites. Social media marketing is generally deployed to attract leads of a particular product through various social networking channels. Social media marketing also enables business organizations to understand the consumer behavior.
- E-mail Marketing :
E-mail marketing is about creating awareness about product and services by sending e-mails to prospective customers. This marketing channel is generally used to let prospective customers know about ongoing discount on a particular product of a company.
- SEO Marketing :
Search engine optimization (SEO) marketing is a process of increasing the visibility of a website or a web page on a search engine’s results.
- PPC Marketing :
Pay per click (PPC) marketing is a way of using search engine advertising is generating clicks for a particular website. Every time a products ad is clicked by users on various search engines, that particular product company pay small fee to search engines.
In North America region, marketing software and solution are emerging at a rapid pace and are assisting various technology companies in this region. Business organizations that are based in countries such as United States and Canada are aggressively adopting marketing software and solutions.
Cloud based marketing software and solution have witnessed traction in its adoption in the Asia Pacific region. IBM is offering its cloud based social media analytics software in this region which provides information about customer’s sentiment in social media.
With the rise of big data in the Europe region, marketing software and solutions are being adopted from many end-user organizations.
In Latin America and Middle East and Africa regions, most of the business organizations are still reluctant to deploy marketing software and solution because of the high cost involved in it. In coming future, with increase in cloud based offerings, the adoption of marketing software and solution will also increase as cost associated with deployment of these will come down from cloud based offerings.
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IBM Corporation, Adobe Systems Incorporated, Accenture PLC, Oracle Corporation, SAS Institute Inc., Harte-Hanks Inc., and Pega-Systems are some of the major players of the market.