As businessmen take the ‘digital’ approach to broaden their overseas exposure, the digital marketing industry remains benefitted from the move. Digital marketing solutions are going a step beyond the traditional marketing approach with automation fostered in brand messaging, lead generation, and lead nurturing aspects, and the proliferating number of smartphone users is likely to offer sustained opportunities to the industry.
According to a study by Transparency Market Research (TMR), the mobile campaign management platform market will grow ~2.3X during 2019-2027. Data demonstrates the growing relevance of consumer behavior culled through a mobile campaign management platform for predictive analytics and to cater to masses with minimum resources.
Technological leaps projected in the direction of achieving high-speed Internet through LTE and 5G networks will offer a seamless digital experience to consumers, and, in turn, increase their digital footprints. The growing stacks of digital data are likely to instigate more businesses towards investing in mobile campaign management platforms during the forecast period, which will offer sustained growth opportunities.
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Free Trial Versions of Open-source Campaign Management Solutions – An Impactful Challenge
The popularity of open-source campaign management platforms could mute the impressive pace of mobile campaign management platforms on account of the cost-concerns associated with them. End users require a mobile platform for only a predetermined timeframe, while software development companies offer mobile campaign management platforms on a monthly and yearly subscription basis. A time-bounded subscription may not be resourceful for companies seeking a week-long or a quarter-long campaign.
On the contrary, open source platforms offer low-cost benefits to end users, while some firms also provide a one-month free trial version of their platforms. However, solution providers are seen taking a customer-centric approach to offer customized tools that fit the requirements as well as meet the budgets of end users, which could reduce the impact of this challenge.
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Travel & Tourism Industry Holds a Mine of Potential
On a broader scale, the report suggests that, consumers are more inclined towards digital shopping for purchasing retail goods, which implies that the retail and FMCG industry have high RoI potential. However, solution providers can magnify their focus on the travel & tourism industry, as experience over materialistic objects is gaining resonance among consumers.
According to TMR’s study, the deployment rate of these platforms in the travel & tourism industry will remain high as compared to other industries, which is tantamount to a CAGR of ~13% during the forecast period. With ‘at a tap’ convenience of booking travel packages, sales are likely to remain driven through digital channels, which will serve as a steady revenue catalyst for the mobile campaign management platform market.
The study also provides insights into the leading stance of the North America market. The U.S. is a leading investor in the digital marketing industry, given the high budgets allocated by leading market players towards the development of analytical technologies. Another key country of the region, Canada, makes an attractive market for the sports betting industry. With the legit status of sports betting in the region, there has been a perpetual rise in the demand for marketing automation and analytics software, which will further contribute to the regional mobile campaign management platform market during the forecast period.
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