1、ATLANTAAUSTINLOS ANGELES MINNEAPOLIS NASHVILLENEW YORK SEATTLECascadia Capital1H 2024Sales&Marketing Tech Industry ReportThis presentation is being furnished by Cascadia Capital,LLC(“Cascadia”)to the recipient and is intended as an outline of matters for informational and discussion purposes only.Th

2、e information contained in this presentation,including any market data and industry information,has been derived entirely from material supplied by public sources,which Cascadia believes to be accurate;however,no independent verification of such material has been made and any estimates made by Casca

3、dia based on material from such sources are by their nature inherently inexact.Accordingly,Cascadia does not make any representation or warranty,nor is any such representation or warranty implied,as to the accuracy or completeness of the information contained herein,and Cascadia is not responsible f

4、or any misstatements or omissions in this presentation.Cascadia has no obligation to update the information contained herein.This presentation may include certain statements,estimates and projections with respect to a company,or industry,including certain forward-looking statements.Any such statemen

5、ts,estimates and projections reflect various assumptions,which may or may not prove to be accurate or correct,concerning anticipated results and are subject to significant business,economic and competitive uncertainties and contingencies,all of which are beyond the control of Cascadia.Accordingly,th

6、ere can be no assurance that such statements,estimates and projections will be realized.Such statements,estimates and projections are likely to vary from actual results and those variations may be material.No such statements,estimates or projections constitute a guarantee,promise,forecast or predict

7、ion of the future and Cascadia does not represent or warrant that any estimates or projections will be achieved.Cascadia neither:(i)accepts responsibility for or makes representations as to the accuracy or completeness of any forward-looking statements,estimates or projections contained in this pres

8、entation,nor(ii)undertakes any obligation to update or revise any forward-looking statements,estimates or projections for any reason after the date of this presentation.All financial data in this presentation is provided for informational and discussion purposes only.Past performance is not necessar

9、ily indicative,or a guarantee,of future results.There can be no assurance that any Cascadia project will achieve comparable results as those presented herein.The information contained in this presentation is strictly confidential and may not be reproduced,distributed,disclosed or disseminated,in who

10、le or in part,to any third party without the prior written consent of Cascadia.Disclaimer2Cascadia Capital OverviewFounded in 1999,Cascadia is an independent advisory only investment bank,partnering with clients across the nation to deliver outcomes globally.We have completed over 495 transactions g

11、lobally and have seven office locationsCascadia leverages our bankers deep sub-vertical industry expertise to deliver a more highly specialized degree of knowledge,positioning and process,resulting in premium valuation in a highly efficient process.Our commitment is to deliver a customized and uniqu

12、e process for each client.We integrate storytelling and positioning with best-in-class financial and process rigorCascadia focuses on optimizing outcomes,not just getting deals done.Often this includes advice to go to market later when the combination of company and market elements are more ideal.We

13、 pride ourselves on delivering direct advice focused solely on the best interests of our clientsCascadias Sales&Marketing Technology PracticeWith a focus on innovative software solutions and differentiated technology,our expertise spans across the sales&marketing landscape from omnichannel marketing

14、&analytics to content marketing&events,eCommerce&customer experience and loyalty&customer engagementTable of ContentsOmnichannel Marketing&Analytics:Omnichannel solutions facilitate seamless customer engagement across diverse channels,including online,offline,social,and voice platforms.Analytics too

15、ls offer invaluable insights into customer behavior and campaign performance,empowering businesses to make data-informed decisions and optimize their marketing efforts,thereby increasing ROIContent Marketing&Events:Solutions that empower businesses to effectively generate,curate,and distribute their

16、 messaging across a variety of mediums including blogs,videos,social media and email communications as well as virtual and in-person events/meetings,thereby fostering enriched interactions with customers,prospects and channel partners in order to drive sales and cultivate deeper brand awarenesseComm

17、erce&Customer Experience:Solutions that facilitate online sales and enhance the overall customer experience while shopping on digital channels.This includes eCommerce platforms for seamless shopping,personalized experiences tailored to individual preferences,conversion optimization tools to maximize

18、 engagement and sales as well as comprehensive post-purchase customer support tools for ensuring satisfactionLoyalty&Customer Engagement:Solutions enabling businesses to engage customers across their journey,from pre-purchase to post-purchase.Incorporating loyalty,voice of the customer,social media,

19、ratings&reviews,and influencer marketing,these strategies drive sales and help engage with customers through a multitude of channels,thereby fostering lasting relationships,amplifying brand presence and driving sales3Macroeconomic TrendsBroad Sales and Marketing Technology TrendsOmnichannel Marketin

20、g&Analytics SubsectorContent Marketing&Event SubsectoreCommerce&Customer Experience SubsectorLoyalty&Customer Engagement SubsectorM&A and Capital Raise TransactionsCascadia Capital Overview12345678Robust Growth Forecasted for Sales&Marketing TechnologyIncreasing Competition Leads To Personalization&

21、A Focus On CXAs eCommerce competition continues to increase and customers are inundated with an influx of marketing content,businesses look to differentiate by leveraging personalization and enhancing the customer experience throughout their journeyPersonalized marketing content and shopping experie

22、nces elevate customer satisfaction and brand loyalty,while also optimizing conversion rates and marketing efficiency,providing a unique advantage for businesses navigating heightened competitionSocial Commerce Accelerates As Customer Behavior EvolvesThe continued proliferation of social media and th

23、e rise of influencers and the creator ecosystem has led to a significant acceleration of social commerce.This trend is reshaping the way consumers discover,evaluate,and purchase products both online and offlineBrands are increasingly leveraging social channels to directly engage with customers,tappi

24、ng into the vast potential of social commerce to drive sales,enhance brand awareness,and foster deeper connections with their audience in an increasingly digital-centric landscapeAdvancements In New Technologies Including Gen AI With the rapid proliferation of generative AI,as well as advancements i

25、n ML and automation,the sales and marketing landscape is undergoing a transformative shift by providing enhanced customer support,content creation,and customer engagement solutionsDespite the popularity of generative AI,reliability continues to be an issue with a recent Purdue study showing that 52%

26、of ChatGPTs answers were incorrect underscoring corporate concern over adopting AI on a wide-scaleMixed Signals Amid an Increasingly Patient Economic OutlookDespite market optimism,recent inflation data signals rate cuts might be further delayed as consumer prices rose 3.5%YoY in March.Kathy Bostjan

27、cic,chief economist at Nationwide,said the“lack of moderation in inflation will undermine Fed officials confidence”1However,the US job market remains robust with 275,000 jobs added in February,topping expectations as the unemployment rate has remained below 4%for two years,the longest such stretch i

28、n over 50 years 2 M&A and Capital Raise Transaction Volume Increased in Q4 2023Both capital raise and M&A transaction volume and multiples remain largely subdued compared to the peaks experienced in 2021.However,in Q4 2023 both M&A and capital raise activity increased pointing towards a potential re

29、covery in market activityThere were 97 M&A transactions in Q4 2023 compared to 85 in Q3 2023.Capital raise volume also increased slightly with 80 transactions in Q4 2023 compared to 73 in Q3 2023.For more details,refer to section 7 on slides 50-65Executive Summary4We are pleased to share our 1H 2024

30、 Sales&Marketing Technology Industry ReportIn this report,we cover macroeconomic trends,broad sales&marketing technology and subsector trends as well as an overview of the current M&A and capital raise market including multiples,recent transactions,commentary and accompanying analysisTeague CollinsM

31、anaging DirectorTC Nikko HellsternAssociateNHThe sales&marketing technology industry is expected grow at a 17.1%CAGR reaching$1,393B by 2027.Strong growth is driven by the proliferation of nascent technologies including AI as well as changing customer behavior,and increased focus on customer experie

32、nce,and strained marketing budgets which are driving a renewed focus on analytics and efficiencyAs the sales&marketing landscape continues to rapidly expand,competition increases leading to more innovation and differentiation1 AP News2 ReutersSection 1Macroeconomic Trends5Macroeconomic Indicators(1/

33、3)Changes in consumer spending,inflation trends,and employment rates are reshaping the sales and marketing sector,with implications for industry innovation,investment volume,and valuation multiples1 FRED Economic Data:Real Personal Consumption Expenditures 2 U.S.Bureau of Labor Statistics:Annual Inf

34、lation Rates3 FRED Economic Data:Unemployment Rate-Sales and Related Occupations4 FRED Economic Data:Federal Funds Effective Rate*The federal funds rate is the interest rate at which depository institutions trade federal funds(balances held at Federal Reserve Banks)with each other overnightReal Pers

35、onal Consumption Expenditure(PCE)($B)1Annual Inflation Rate in the US(%)2Federal Funds Effective Rate in the US(%)4Unemployment Rate in the US Sales and Related Occupations(%)3The Federal Open Market Committee foresees a decline in US inflation in 2024,following a gradual shift downward from 8.5%in

36、July 2022 to 3.2%in February 2024.This implies a strong potential for the Federal Reserve to cut interest rates,which would positively impact consumer spending,retail pricing,and overall conditions within the sales&marketing sectorThe unemployment rate for sales and related occupations in the US pea

37、ked at 15.5%in Q2 2020,but has since come down.Lower unemployment rates signal a stable job market,currently fueling potential growth in consumer spending.This surge in consumer spending is presently driving demand for a wide array of products and services,including tech solutions provided by compan

38、ies operating in the sales and marketing technology sectorDuring the last year and a half,the Federal Reserve has raised interest rates 11 times,bringing the federal funds rate to a target range of 5.25%to 5.5%marking the highest levels since early 2001.The last time the Federal Reserve raised rates

39、 at this velocity was in the 1980s.However,easing inflationary pressure signals potential near-term rate cutsThe Bureau of Economic Analysis reported a$84.3B(0.5%)rise in real PCE from December 2023 to November 2023,reflecting an increase in offline and online retail sales which in turn,impacts the

40、sales and marketing landscape.As consumers continue to spend,businesses are compelled to adapt their strategies to cater to evolving consumer preferences and capitalize on emerging market opportunities4.7%3.6%3.5%3.3%4.3%15.5%9.5%6.2%6.5%6.2%5.6%4.1%4.0%4.1%4.0%3.4%4.0%3.7%3.9%4.0%4.6%Q119Q219Q319Q4

41、19Q120Q220Q320Q420Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q323Q423Q124Unemployment Rate-Sales and Related Occupations,Not Seasonally Adjusted2.4%2.4%2.2%1.6%1.3%0.1%0.1%0.1%0.1%0.1%0.1%0.1%0.1%0.8%2.2%3.7%4.5%5.0%5.3%5.3%5.3%Q119Q219Q319Q419Q120Q220Q320Q420Q121Q221Q321Q421Q122Q222Q322Q422Q123Q223Q32

42、3Q423Q124Federal Funds Effective Rate,Not Seasonally Adjusted0.0%5.0%10.0%Aug-18Nov-18Feb-19May-19Aug-19Nov-19Feb-20May-20Aug-20Nov-20Feb-21May-21Aug-21Nov-21Feb-22May-22Aug-22Nov-22Feb-23May-23Aug-23Nov-23Feb-24Annual Inflation Rate(Not seasonally adjusted)$10,000$12,000$14,000$16,000$18,000Aug-18N

43、ov-18Feb-19May-19Aug-19Nov-19Feb-20May-20Aug-20Nov-20Feb-21May-21Aug-21Nov-21Feb-22May-22Aug-22Nov-22Feb-23May-23Aug-23Nov-23Feb-246Macroeconomic Indicators(2/3)The shift in consumer behavior,digital commerce trends,and increased digital ad spending impacts the sales and marketing sector providing o

44、pportunities to innovate and adapt to changing market conditions1 eMarketer,May 20232 eMarketer,June 20233 eMarketer:US Ad Spending 2023 4 eMarketer,Dec 2022US Social Network Users,by Generation,2023-2027(Millions of People)1US Retail eCommerce Sales($T),(%)2US Curbside Pickup Sales,2019-2026($B)4Di

45、gital Ad Spend in the US($B)3The retail and eCommerce sectors in the US are witnessing a stabilization in growth trends following three turbulent years.Analysis of product categories and digital buyer trends reveals potential avenues for expansion within the digital commerce landscape.Forecasts sugg

46、est that trends in US retail and eCommerce sales will revert to their pre-pandemic trajectories,with online sales increasing 9.5%in 2023,reaching a total of$1.1TThe recent deceleration in the growth of US digital ad spend mirrors a cautious economic outlook as many businesses have experienced a slow

47、down in sales and thus,reduced their marketing spend.However,ad spend is expected to rebound in 2024 growing 11.2%and reaching$294B.This points towards an increase in optimism and a resurgence in activity as increased ad spend serves as powerful tailwind in the sales and marketing sectorFrom 2019 to

48、 2022,the US experienced growth in curbside pickup sales,increasing from$35.7B to$90.1B with levels projected to increase further to$131.7B by 2026.Although the pace of growth is expected to decelerate slightly post-2023,it will continue at a robust double-digit rate,reflecting a strong and ongoing

49、market demand.This sustained expansion underscores the importance of the development of technologies that enable efficient click-and-collect processesOver the next 4-5 years,Gen Z will likely lead in social media usage,showcasing habits that both respond to and diverge from earlier generations.Proje

50、ctions indicate Gen Z will experience the fastest growth in social network users,with an approximate 4%CAGR from 2023 to 2027,while other generations may see slower growth or decline.Meanwhile,millennials,with their substantial purchasing power and population size,continue to be a vital demographic$

51、35.7$72.8$82.2$90.1$99.4$109.4$120.1$131.720192020202120222023202420252026$221$245$264$294$325$359$39537.6%10.6%7.8%11.2%10.9%10.3%10.0%70.1%71.8%74.6%76.5%79.0%80.6%82.4%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%$0$150$300$4502021202220232024202520262027Digital Ad Spending%Change%of Total Me

52、dia Ad Spending7Note:Internet users who use a social network via any device at least once per month 304050607020232024202520262027Baby Boomers(1946 1964)Gen X(1965-1980)Millenials(1981-1996)Gen Z(1997-2012)Note:Includes products or services ordered using the internet,regardless of payment method,for

53、 pickup in a store,curbside,or from a locker in a retail location or pickup hub;excludes travel and event tickets,payments such as bill pay,taxes,or money transfers,food services and drinking place sales,gambling and other vice goods sales.$1.0$1.0$1.1$1.3$1.4$1.5$1.714.7%14.7%15.6%16.6%17.8%19.1%20

54、.6%17.3%8.6%9.5%10.5%10.8%11.0%11.3%$0.00$0.20$0.40$0.60$0.80$1.00$1.20$1.40$1.60$1.80$2.00$0$0$02021202220232024202520262027eCommerce Sales($T)%of Total Retail Sales%ChangeMacroeconomic Indicators(3/3)Fluctuating consumer confidence and significant D2C eCommerce sales growth highlights the pivotal

55、role of sales and marketing technology in adapting to changing market dynamics and consumer behaviors1 eMarketer,March 20232 U.S.Bureau of Labor Statistics:Annual Inflation RatesUS D2C eCommerce Sales for Established Brands vs Digital Native Brands($B)1Global Consumer Confidence Index 2The Global Co

56、nsumer Confidence Index has experienced significant fluctuations amid unstable market conditions.Despite reaching an all-time high in Dec 2021,levels have significantly decreased,pointing towards an improved market outlook.Nonetheless,historical volatility has spurred businesses to embrace advanced

57、technologies and refine digital strategies,striving to maintain agility and responsiveness to evolving consumer preferences and to ensure a smooth customer experience amidst fluctuating market conditionsIn 2023,direct-to-consumer(D2C)eCommerce sales of well-known brands in the US hit$134.6B,with sal

58、es from digitally native vertical brands(DNVBs)reaching$34.8B.The surge underscores a broader embrace of D2C approaches by established companies such as Nike and Lululemon,inspired by the pioneering efforts of online-first entities like Dollar Shave Club and Warby Parker.As a result,there is a growi

59、ng need in sales and marketing technology for platforms and tools tailored to meet the unique needs of established brands,encompassing solutions in eCommerce enablement,omnichannel marketing,and data analytics$57.1$75.2$95.9$115.8$134.6$159.8$186.6$19.3$27.1$32.4$34.2$34.8$37.4$39.920192020202120222

60、02320242025Established Brand D2C eCommerce SalesDigitally Native Brand D2C eCommerce Sales(2)(1)012345Jan-18May-18Sep-18Jan-19May-19Sep-19Jan-20May-20Sep-20Jan-21May-21Sep-21Jan-22May-22Sep-22Jan-23May-23Sep-23Jan-24IndexValue8Section 2Broad Sales&Marketing Trends9The sales and marketing technology

61、industry was valued at$742B in 2023 and is anticipated to reach$1,393B by 2027,growing at a 17.1%CAGRStrong growth is driven,in part,by nascent technologies such as Gen AI,changing customer behavior,increased competition,and a focus on customer experience 2The global omnichannel marketing subsector

62、is growing at a 21.3%CAGR and is expected to reach$77.5B by 2027 while the global marketing analytics software subsector is growing at a 12.8%CAGR and is expected to reach$11.5B by 2029The global content marketing subsector is growing at a 16.9%CAGR and is expected to reach$902B by 2027 while the US

63、 corporate events market is growing at a 17.3%CAGR and is expected to reach$511B by 2030The global eCommerce platform market is growing at a 12.7%CAGR and is expected to reach$9.9B by 2027 while the global customer experience management market is growing at a 17.9%CAGR and is expected to reach$43.4B

64、 by 2029The global loyalty management market is growing at a 22.3%CAGR and is expected to reach$14.5B by 2027 while the global customer engagement market is growing at a 10.8%CAGR and is expected to reach$32.2B by 2027Sales&Marketing Technology Industry($B)1Sales&Marketing Technology Industry Insigh

65、tsThe Sales&Marketing market is expected to reach$1,393B by 2027,demonstrating a 17.1%CAGR,driven by nascent technologies,changing customer behavior,increased competition,and a focus on customer experience101 Estimated market size2 Sources referenced throughout the reportNote:The global sales and ma

66、rketing technology market size has been estimated by consolidating the sub-sectors market sizes,incorporating estimated CAGR,and other relevant data.Growth DriversKey ChallengesNascent technologies such as generative AI,advancements in ML,and powerful automation are transforming the sales&marketing

67、landscapeAn increased focus on customer experience,as a way to differentiate,has led to more investments in customer support,success and loyalty solutionsLeveraging advanced analytics to make data informed decisions and better understand customer behavior,thereby improving customer experienceThe con

68、tinue proliferation of social media and the outsized influence it has on purchasing decisions has led businesses to invest in social commerce toolsAs marketing budgets remain strained amid an uncertain macroeconomic environment and companies face investor pressure to reach and maintain profitability

69、,executives are scrutinizing marketing spend more heavily and looking to increase efficiency and focus on the most essential marketing toolsIncreasing eCommerce competition has led brands to differentiate by enhancing the customer experience with personalization,customer support and post-purchase en

70、gagement.The rapid increase in new sales&marketing solutions has expanded the ecosystem and led to increased competition,thereby accelerating innovation and providing a more competitive environmentConcerns over data privacy have led to shift in marketing strategies as the significant reduction in co

71、okies has made targeting and attribution more difficult,resulting in increased focus on first-party data as well as other work arounds20222023$622B$742B$1,393B2027The Modern Customer JourneyIn todays digital age,the modern customer journey is dynamic and multifaceted encompassing a variety of touchp

72、oints and channels thus,emphasizing the importance for businesses to adopt a thoughtful strategyAwarenessEducationEvaluationConversionjdsfSuccess&SupportAdvocacy&LoyaltyPost-purchase Retention&LoyaltyThe initial phase where consumers become acquainted with a brand,product,or serviceEmail marketingEv

73、ent sponsorshipsPublic relations&mediaVideo marketingOutbound marketing&SDRsSocial&influencer marketingContent marketingWord of mouthUser-generated contentConsumers seek information&knowledge in order to make an informed decisionBlogs&articlesSearch&SEOWhitepapers&case studiesWebinars&eventsCustomer

74、 reviews&testimonialsDirectories&listingsAfter researching the product or service,consumers assess and compare optionsRatings&reviewsConsultations with sales representativesFree trials&demosWord of mouthBlogs&articlesOrganic searchResearch relationsThe decision is made to purchase the product or ser

75、vice,and the customer moves forward with the transactionPersonalized recommendationsUpsell&cross-sellSeamless checkoutPDP optimizationDiscounts&pricingConversion optimizationCustomers are onboarded and receive post-purchase support and assistance to ensure a successful experienceSelf-service&FAQAcco

76、unt managersCustomer supportEmail&chatbotsOnboarding experienceTraining&educationConfiguration supportHappy customers become loyal advocates,promoting the brand through word-of-mouth and positive reviews,thereby helping to grow brand identityCreating UGC&social postsLoyalty&referral programsAffiliat

77、e LinksExclusive offersBlogs&articlesOnline and offline reviewsWord of mouthPre-purchase Discovery&Consideration 11Digital Transformation in Sales&MarketingAs consumer behavior continues to shift and technological advancements enable powerful tools,digital transformation in the sales&marketing secto

78、r is accelerating,leading to a diverse and fragmented landscapeIn the current fragmented sales&marketing landscape,businesses have a plethora of solutions to chose from as they continue to ramping up their spend on digital solutionsThe evolution of digital technologies enriches customer insights,fac

79、ilitating targeted strategies and enhanced outcomes through actionable dataThis advancement aids businesses in achieving greater alignment between marketing and sales teams,thereby optimizing opportunities for success in both the current and future landscapesEnhancing Marketing with Digital Transfor

80、mationMarketing Automation ToolsAI-powered automation has revolutionized digital marketing,streamlining intricate processes like content creation,lead generation and email campaigns in order to increase efficiency and drive growthGlobal Digital Ad Spend($B)2The surge in digital ad spending reflects

81、the acceleration of digital transformation in marketing,with businesses investing in analytics,automation,and personalization to meet changing consumer behavior and to optimize digital channelsBased on a recent industry research,58%of marketing leaders have reallocated budgets from traditional to di

82、gital channels to enhance online visibility 1Furthermore,the study indicated that 71%of senior marketers and 61%of mid-level marketers bear the responsibility for driving digital transformation within their organizations,indicating a growing emphasis on digital transformation within senior decision

83、makers 1For instance,in 2023,Salesforce 3 enriched its CRM platform with Einstein AI analytics,providing businesses with tailored customer insights and ensuring robust data security and adherence to privacy laws1 Digital Marketing Institute-The Marketing Evolution-Leadership,Transformation,Skills,Ch

84、allenges&the Future 2022 Research2 Statista3 Salesforce12Email MarketingDigital AdvertisingSales AutomationCRM SystemsSocial Media MarketingContent MarketingMarketing Automation in Digital MarketingKey Features of Marketing Automation in Digital MarketingIntegrating marketing automation with CRM enh

85、ances customer journey management and unifies sales and marketing for an improved experience$366$433$569$614$680$740$799$855$910$9652019202020212022202320242025202620272028Video AdvertisingSearch AdvertisingInfluencer AdvertisingClassifiedsBanner AdvertisingAudio AdvertisingMarketing Automation Tool

86、s Available in the Industry12A BCG study conducted in 2023 indicates how deeply and extensively Chief Marketing Officers(CMOs)are exploring Gen AIs transformative power,benefits,and potential risks 2The emergence of Gen AI is reshaping sales technology as it becomes increasingly integrated into solu

87、tions,driving innovation and efficiency in sales processesGen AI is also transforming marketing as businesses leverage advanced algorithms and data analytics to gain deeper insights into consumer behavior,personalize marketing strategies,and optimize campaign performance,ultimately leading to more e

88、ffective customer engagementHowever,Gen AI is not without its drawbacks.Despite the rise in popularity,reliability continues to be an issue with a recent Purdue study showing that 52%of ChatGPTs answers were incorrect underscoring corporate concern over adopting AI on a wide scaleGenerative AI is Bo

89、lstering Sales&Marketing TechnologyGenerative AI is transforming sales&marketing through continuous innovation,driving customer experience,growth,and productivity,with industry adoption and investment on the riseMcKinsey suggests that around 20%current sales-team functions,such as customer outreach,

90、lead identification,sales presentations,and customer service,could be automated,potentially opening the door for the further integration and adoption of Gen AI 1Gen AI-driven marketing automation platforms empower marketers with predictive analytics to forecast trends,uncover opportunities,and preem

91、pt customer needs,refining strategies with insights from historical dataFor instance,in 2024,Insiders predictive segmentation yielded a 381%increase in conversion rates for Facebook Ad campaigns without raising budgets while also attracting new customers 3GenAI-Driven Marketing Automation Commercial

92、 Leaders Expectations for Gen AI Across Use Casesin Sales&Marketing 1According to 2023 McKinsey survey,commercial leaders foresee Gen AI making significant impacts in lead identification,marketing optimization,and personalized outreach,with over 50%expecting substantial improvementsA recent industry

93、 study revealed that 90%of commercial leaders expect to utilize Gen AI solutions“often”in the upcoming two years 1 According to a 2023 Gartner survey,63%of marketing leaders intend to invest in generative AI within the next two years 4 Just over half of those believe the potential rewards of Gen AI

94、surpass its risks 41 Mckinsey2 BCG3 I4 Gartner SurveyRevolutionizing Sales&Marketing Tech with Gen AIof CMOs plan to launch new products and business models enabled by Gen AI technology 2of participants report their organizations implemented Gen AI in core marketing functions70%84%60%55%53%50%50%45%

95、45%45%35%30%25%Lead identificationMarketing optimizationPersonalized outreachDynamic contentUp/cross-selling recsSuccess analyticsMarketing analyticsJourney MappingAutomated marketingSales analyticsSales coaching13%of survey respondentsCMOs Pivot to Digital Strategies amid Strained BudgetsMarketing

96、Budgets as Percent of Total Revenue(2019-23)1Share of Martech in Total Marketing Budgets,2023 3 As per a study by LXA,the share of martech in marketing budgets has reached 30%,increasing 6%compared to 2022 3However,amidst this rapid expansion,experts advocate for a harmonious blend between AIs capab

97、ilities in data analysis and automation,coupled with human creativity and strategic thinkingThis underscores the importance of strategic marketing expertise and thoughtful AI integration to uphold effectiveness and brand image1 Gartner Survey2 Marketing week3 Performance marketing world LXAs 2024 Pr

98、edictionsfor Marketing&Sales TechnologyAccording to the latest IPA Bellwether report,in Q4 2023 marketing budgets surged with a 14.7%of companies increasing spending,the highest in nearly a decade,showing commitment to growth despite economic uncertainty 2Businesses are optimistic about their 2024 a

99、nd 2025 marketing investments,prioritizing events and direct marketing to strengthen their brand presence and expand their market shareSurge in Marketing Budgets in Q4 202310.5%11.0%6.4%9.5%9.1%20192020202120222023Covid-1930%21%28%21%MartechAgency/ServicesStaff/LaborMediaStrained Sales&Marketing Bud

100、getsChief Marketing Officers(CMOs)face budget shortfalls,driving a strategic shift toward digital strategies and AI-driven martech investments to enhance ROI14Pre-pandemicPost-pandemicThe evolution of marketing budgets in recent years has been notable,shaped by a multitude of economic factors and pr

101、evailing industry trendsAccording to industry studies,in 2023,71%of CMOs did not have sufficient budgets to fully execute their marketing strategies 1Despite increasing marketing expenses attributed to factors such as inflation,rising customer acquisition costs and pressure for enhanced efficiency,m

102、arketing budgets have remained relatively stable recently,representing 9.1%of the total company revenue in 2023 1The slight decline from a 9.5%in 2022 underscores the pressure on CMOs to efficiently manage their resources and navigate economic uncertainties stemming from the COVID-19 pandemic,all wh

103、ile working with tight budgetsIn 2022,marketing budgets recovered much of their losses from the prior year as pandemic-driven budget cuts eased to some extent.However,in 2023 marketing budgets remained below the pre-pandemic levelsoThis has led marketers to adopt efficient solutions and strategies i

104、n order to streamline operations and optimize resource allocationoDespite reduced budgets,marketers need to adapt to evolving consumer behaviors and preferences,leveraging the strengths of various channels to maximize reach and effectiveness in a dynamic market environmentStringent privacy regulatio

105、ns and consumers increasing desire for data protection are driving rapid changes in industry practicesIn 2023,a report by the International Association of Privacy Professionals revealed that 68%of global consumers are either somewhat or very concerned about their privacy online 1Changing Landscape o

106、f Data PrivacyAmid increasing customer concerns,privacy regulations,and enforcement measures,digital marketers are adjusting their data collection methods and privacy policies to ensure compliance1 IAPPs Privacy and Consumer Trust Report 2 Pew Research Centre3 O4 5 Congressional Research Service6 Li

107、fesight.ioIn March 2023,Shou Zi Chew,the CEO of TikTok,testified at a House Energy and Commerce Committee hearing,addressing growing concerns about the platforms potential threats to data privacy,national security,and the online safety of childrenThese concerns and the fear that ByteDance(TikToks Ch

108、ina-based parent company)might be forced to share user data with the Chinese government have led the federal government,as well as many states in the US,to ban the app on government devicesThe Consolidated Appropriations Act,2023(P.L.117-328)has prohibited the use of TikTok and other ByteDance servi

109、ces on devices belonging to executive agencies.Various state governments have also adopted this measure,banning the app on some or all state-owned devicesRise in Enforcement Actions Due to Stringent Privacy RegulationsCase Study:Growing Privacy Concerns Around TikTok15Shift Toward First-Party DataIn

110、 the midst of growing concerns regarding data privacy,the use of third-party data for targeted advertising came under scrutiny,amidst a total spending of$22B in 2021The vulnerability of such data to hacking underscores the need for a shift to first-party data collection methodsShifting to first-part

111、y data enhances reliability and allows tailored suggestions,bolsters brand loyalty,and enables advertisers to optimize spending by targeting specific audiencesProactively transitioning from third-party cookies fosters a competitive edge,maximizing advertising resources for sustainable growth amid ch

112、anging policiesIn Sep 2022,Irelands Data Protection Commissioner fined Instagram$400M for violating childrens privacy under the General Data Protection Regulation(GDPR),prompting Meta to appeal despite updates to privacy settings 4Further,child safety advocates emphasized the significance of effecti

113、ve enforcement in protecting young users online,underlining the regulatory efforts such as such as the Childrens Online Privacy Protection Act(COPPA)A rise in privacy awareness has led to the implementation of comprehensive consumer data privacy laws in several states across the US.Some of these law

114、s,including Californias Privacy Rights Act,Montanas Consumer Data Privacy Act,Oregons Consumer Privacy Act,and Connecticuts Data Privacy Law,came into effect recently 3These laws give consumers more control over their personal data and impose new compliance requirements on businessesTo comply with t

115、hese new regulations,digital marketers are forced to change their data collection methods and update their privacy policies US Adults Concerned&Confused About How Their Data is Being Used 281%71%CompaniesThe Government%of US adults who say they are concerned about how the following entities use thei

116、r dataEY,in collaboration with Adobe,has developed the Adobe Real-Time Customer Data Platform to empower businesses,particularly B2B companies,to harness the value of first-party data for informed decision-makingEY&Adobe Alliance5Technological advancements pertaining to advancements in data collecti

117、on,analytics,and privacy regulations have transformed customers purchasing behaviors in both B2C and B2B realms,emphasizing the importance of gaining a deeper sense of customers needsThe rising significance of first-party data stems from a departure from reliance on third-party cookies for tracking

118、and targeting,driven by escalating privacy concerns and regulatory shiftsThis underscores the imperative for businesses to effectively gather,manage,interpret,and protect customer-provided data for better decision-makingFurthermore,businesses face challenges while transitioning to third-party cookie

119、s,prompting a shift toward reliance on first-party data for targeted sales and marketing,driven by real interactions and engagementThis strategic pivot not only enhances privacy but also levels the advertising playing field,benefiting consumers through improved user experiences and fostering trustAc

120、cording to a Deloitte report,73%4 of participants believe that employing first-party data can mitigate the effects of growing privacy concernsUse of First-Party Data for Enhanced Marketing and Data PrivacyRising Potential of First-Party DataTransition to first-party data enables businesses to gain d

121、etailed insights into customer behavior,leading to enhanced accuracy,increased reliability,improved conversion rates,and revenue growthThis prompts a shift toward using Customer Data Platforms(CDPs)to ensure privacy compliance and optimize marketing spend by targeting high-value customers through un

122、ified data profilesIn January 2024,Google initiated 2 the process of gradually eliminating third-party cookies in Chrome.As part of the testing phase,Chrome has implemented default restrictions on third-party cookies for 1%of Chrome Stable clients and 20%of Canary,Dev,and Beta clients.This represent

123、s a significant step forward in the journey towards completely phasing out third-party cookies,with plans to extend these restrictions to 100%of users in the second half of 20241 Venture Beat2 Google3 Google 4 Deloitte5 EY6 Ad Exchanger88%According to a 2022 report by Acquia,88%1 of marketers believ

124、e that the importance of first-party data has increased since 2020 In 2021,the New York Times leveraged its largely subscription-based model to gather valuable first-party data,creating more personalized experiences and boosting digital ad revenue by over 20%6Increase in Digital Ad Revenue Due to Fi

125、rst-Party DataMarketers can rely on the accuracy of first-party data for precise segmentation and targeted advertising,thereby creating more effective campaigns based on purchase likelihoodShift from Third-Party Data to First-Party DataAdvancements in data collection,analytics,and privacy regulation

126、s are prompting businesses to prioritize first-party data for personalized marketing,while privacy concerns lead to the discontinuation of third-party cookies1617Sales&Marketing Technology Market Map Representative LandscapeOmnichannel Marketing&AnalyticsCustomer Engagement&Loyalty eCommerce&Custome

127、r ExperienceContent Marketing&EventsDiversified Sales&Marketing TechnologyEmergingEstablishedSection 3Omnichannel Marketing&Analytics Subsector18$6.3$7.1$8.0$9.1$10.2$11.5202420252026202720282029Omnichannel Marketing&Analytics Industry InsightsThe global omnichannel marketing and analytics market is

128、 experiencing significant growth,driven by advancements in technology and consumers expectations for cohesive brand experiences across platformsGlobal Omnichannel Marketing Market Size and Growth($B)1,2 The global omnichannel marketing market experienced significant growth,surging from$29.6B in 2022

129、 to$35.7B in 2023.Projections suggest a continued upward trajectory,with an CAGR of 21.3%from 2023 to 2027,culminating in a market value of$77.5B by 2027This growth is propelled by several key factors including advancements facilitating data-driven marketing strategies as well as increasing demand b

130、y consumers for seamless brand experiences across various platformsGiven these market dynamics,a cohesive approach to marketing is imperative,particularly integrating both online and offline channels to cater to the evolving preferences of todays digitally-oriented consumersDuring 2023,mobile market

131、ing,as a subset of omnichannel marketing,held sway over the entire market,leading to heightened product revenue and profit marginsMobile marketing leverages on-demand structures,omnichannel purchasing,and consumer customization trends,emphasizing its essential position in contemporary marketing stra

132、tegies1 Fortune Business Insights2 Future Market Insights 3 Mordor Intelligence4 Industry Arc5 Spherical InsightNote:The global Omni-channel market size has been estimated by consolidating the sub-segments market sizes,incorporating estimated CAGR,and other relevant data.Additionally,the charts have

133、 been rescaled at some points to reflect historical trends wherever exact figures were not availableThe global market for marketing analytics,which is valued at$6.3B in 2024,is anticipated to grow at a 12.8%CAGR reaching$11.5B by 2029Recent advancements in Gen AI and ML models have enabled real-time

134、 intelligence and predictive analytics,which is expected to be one of the most significant advantages of employing AI-based marketing analyticsThe proliferation of digital channels presents growth avenues for comprehensive assessment of marketing campaigns through analytics.This enables companies to

135、 garner insights and conduct comparative analyses for refining strategies effectivelyFor example,in May 2023,Mixpanel,an event analytics platform,introduced Marketing Analytics,offering insights into user acquisition channels,optimizing return on advertising spend(ROAS),and refining targeting throug

136、h cohort analysisAs marketing budgets remained at suppressed levels,leveraging advanced marketing analytics will continue to be key thereby helping businesses optimize their resources,identify cost-effective strategies,and maximize the impact of their marketing efforts19Global Marketing Analytics So

137、ftware Market Size and Growth($B)3 20232027$35.7B$77.5B2022$29.6BForecast period 2023-27Forecast period 2024-29In the current digital landscape,consumers engage with brands through an array of channels ranging from physical stores to websites,apps,and social media platforms often being heavily influ

138、enced by content creators and influencersThe complexity of todays shopping environment requires embracing an omnichannel strategy to maintain cohesive messaging across all platforms,preventing brand message fragmentation(i.e.,the risk of messaging becoming inconsistent or disjointed across different

139、 channels and platforms)and maximizing campaign effectivenessAn omnichannel strategy promotes communication consistency across all platforms,enhances brand identity,and fosters meaningful connections while allowing for smarter,data-driven decisions tailored to audiences needsOmnichannel Strategy for

140、 Consistent Brand CommunicationLeveraging an omnichannel strategy with unified communication ensures consistent brand messaging across all platforms,thereby enhancing customer experience and brand trustOmnichannel Strategy for Consistent Brand Communication According to a 2022 industry study,75%of c

141、ustomers desire a consistent experience,regardless of how they engage with a company for example,through social media,in-person or by phone 1Coke has consistently maintained its branding for decades,with its iconic logo,color scheme,and bottle shape remaining largely unchanged.This consistency has b

142、uilt an unparalleled global trust and presence 3Consistent Branding and Visual IdentityUnified Messaging StrategyUnified Approaches to Enhance Customer ExperienceIndustry Use CasesA consistent messaging approach ensures that a brands messaging remains consistent across all channels,enabling seamless

143、 communication and engagement no matter how customers interact with the brandConsistent Messaging Across Platforms A unified communication platform centralizes various messaging tools and allows users to manage them through a single interface.It enhances organizational efficiency,streamlines user ac

144、cess,and eases data retrieval,thereby fostering collaboration and consistencyUnified Communication PlatformsCDPs are centralized hubs that manage diverse customer data,offering unified profiles comprehensive and consolidated records of individual customers,categorization of customers based on shared

145、 characteristics,behaviors,or attributes,and integration of this data into marketing tools to enable personalized experiences across channelsCustomer Data Platforms(CDPs)As technology progresses and customer expectations evolve,the outlook for unified business communication appears promising.Todays

146、customers demand seamless,prompt,and reliable communication across diverse channels.Unified communications meet these demands by seamlessly integrating a range of communication tools like messaging,video conferencing,and collaboration platforms,offering a unified and intuitive experience1 Z2 M 3 Str

147、ikepoint mediaNike uses a consistent approach across all its channels with a unified messaging strategy,underlined by its“Just Do It”slogan,that promotes inspiration,innovation,and inclusivity,bolstering its position in the sportswear industry 220Embracing Cookie-less Marketing StrategiesCookie-less

148、 Attribution Techniques1 Twilio2 Campaign Asia3 Granify4 Pathmonk.cmo In a cookie-less environment,marketers have the option to utilize alternative techniques for monitoring user activity,including API-based tracking,which leverages data from web servers or customer relation management(CRM)systems f

149、or advertising and marketing purposesNavigating a Cookie-less Future for Digital MarketingAs digital marketing approaches a cookie-less future,new tools and solutions have become essential for executing personalized campaigns as well as accurate tracking and attribution21Granify,a conversion optimiz

150、ation platform,eliminates reliance on cookies and enhances online retailer sales through personalized smart messages triggered based on real-time visitor behavior analysis 3The company collects user behavior data,prioritizing user ID and timestamp to eliminate cookie usageIn January 2024,Google intr

151、oduced Tracking Protection,which restricts third-party cookies by default,to 1%of Chrome users 2The move comes after years of anticipation for the end of third-party cookiesDevice Fingerprinting involves compiling various data points,such as screen resolution,browser,and preferred color scheme,to as

152、sign distinct user IDs to website visitorsUsers undergo monitoring in a manner similar to the process with cookies while ensuring compliance with privacy regulationsDevice FingerprintingServer-side tracking involves sending data directly from a websites backend to a server,bypassing the need for coo

153、kies and ensuring accurate trackingFor instance,Google Analytics 4(GA4)emerged as a pivotal tool amid the transition to a cookie-less future in digital marketing 4One significant advantage is its ability to provide holistic insights across both app and website-based tracking,enabling marketers to ga

154、in a comprehensive view of user interactions regardless of the platform they engage withServer-Side TrackingFor effective marketing in a cookie-less world,businesses must adopt cookie-less attribution techniques,such as Device Fingerprinting and Google Analytics server-side tracking,to ensure user a

155、nonymity while providing valuable insights into web traffic sources and marketing metrics 4These techniques offer marketers greater control and accuracy than traditional cookie-based approaches,where data-sharing with competitors is commonplaceThe digital marketing landscape is evolving as the relia

156、nce on cookies for data collection and personalization decreasesDriven by a stronger desire for data privacy among consumers,marketers are adopting cookie-less marketing strategies,prioritizing first-party data and personalization to optimize ad campaigns effectivelyHowever,a 2022 study by Twilios r

157、evealed that:1 of companies said they were not fully prepared for the impending cookie-less worldof companies were still reliant on third-party cookies55%81%Advanced Attribution and Analytics to Measure Marketing ROI Advanced attribution models and analytics tools help identify key revenue-impacting

158、 touchpoints in a complex multi-channel environment,thereby simplifying the measurement of marketing ROI 1 lifesight2 Google3 Marketing Marketing ROI is a crucial indicator that allows companies to assess the efficacy of their marketing strategies and compare the performance of different campaignsHo

159、wever,understanding ROI and effectiveness of marketing campaigns can be challenging due to complexity of tracking customer interactions across multiple channelsMarketing ROI Measurement Amid Multi-Channel InteractionsAdvanced Attribution ModelsAccording to an eMarketer report,the average online cust

160、omer interacts with a brand 7.6 times before making a purchase,highlighting the complexity of the modern customer journey 1Understanding multiple-touchpoint interactions is crucial for marketers to properly allocate resources effectively across various channels,optimize campaigns,and ultimately enha

161、nce the overall return on investment(ROI)The difficulty in measuring marketing ROI can also be linked to the complexity of attribution modelingAs customers engage with brands through various channels,it can be difficult to attribute conversions to specific marketing effortsoFor example,direct intera

162、ctions such as clicking an affiliate link after an ad are easily traceable,but indirect paths,such as seeing a social media ad and later searching for the product on Google,complicate the measurement of campaign-specific ROITo address these challenges,marketers adopt advanced attribution models,such

163、 as data-driven and multi-touch attribution models,and analytics tools that offer a unified and detailed view of customer interactions across channelsData-Driven Attribution(DDA)ModelsDDA models use machine learning(ML)to dynamically assign credit to touchpoints based on data analysis,offering accur

164、acy for those with ample data but limiting small businesses with less data*Multi-Touch Attribution ModelsMulti-touch attribution models assign conversion credit across various touchpoints with different schemes,such as linear attribution,time decay,and position-based attribution.These schemes determ

165、ine how credit is distributed among touchpoints based on their roles in the customer journeyIn 2023,Google discontinued four attribution models in Ads and Analytics,namely First-click,Linear,Time decay,and Position-based 2This stemmed from a notable decline in the utilization of rules-based attribut

166、ion models,primarily attributed to the introduction of DDA three years priorCurrently,less than 3%of conversion actions in Google Ads employ these discontinued models.DDA stands out with the widest adoption and accessibility,as it is open to all businesses without any specific data prerequisitesData

167、 Analytics ToolsBusinesses can also address challenges related to marketing ROI measurement by leveraging data analytics and advanced tracking solutions such as Google Analytics and CRM systemsFor example,Marketing Evolution,an advanced analytics tool,helps marketers master the omnichannel landscape

168、 and generative attribution as well as improve customer insights and ROI 3*While these models provide high accuracy for entities with substantial data,they may pose limitations for small businesses with less data.This is because machine learning algorithms often rely on extensive datasets for traini

169、ng and may face challenges in effectively capturing patterns and insights in scenarios where data is limited,potentially affecting the precision of credit assignment in smaller-scale businesses.22As customers interact with brands across multiple devices and channels,the need for accurate cross-devic

170、e attribution models has increasedCross-Device Attribution ModelCross-device attribution assigns credit to marketing touchpoints across devices like smartphones,tablets,and desktops,revealing their role in the customers path to purchaseThis process enables marketers to optimize strategies based on w

171、hich interactions most effectively drive conversions and subsequent salesSophisticated analytics platforms utilize diverse techniques to accurately attribute conversions across different devices and channels,offering valuable insights into the efficacy of each interaction pointCross-Device Attributi

172、on ModelsCross-device attribution models have become critical for accurately tracking customer journeys,optimizing marketing strategies,and display campaigns across various customer channels1 J2 Search Engine LandAdoption of Cross-Device Attribution Models by BusinessesDeterministic AttributionThis

173、attribution method uses personal identifiers such as email addresses,phone numbers,and login data to track actions across devices.However,its use is constrained by users willingness to log in or share personally identifiable informationProbabilistic AttributionThis approach uses algorithms and ML to

174、 analyze data such as IP addresses and browsing history,linking devices through statistical behavior patterns.Its accuracy hinges on data volume and qualityAlgorithmic ModelingIt involves the use of custom algorithms on large cross-device datasets to detect complex patterns and achieve high match ra

175、tes.However,its transparency and accuracy is based on data and algorithm qualityOptimizing Display Campaigns with Cross-Device AttributionCustomer JourneyDisplay AdEmailSearch EngineSocial MediaAffiliateConversionCross-device attribution became increasingly important for display campaigns as of 2023

176、Data by Jemsu reveals that over 50%of digital ad impressions span multiple devices,underscoring the need for advertisers to assess campaign performance across devices 1Furthermore,cross-device attribution informs budget allocation by revealing ad performance across devices,essential for optimizing m

177、arketing strategiesIn 2023,Gartner reported an 85%adoption rate of cross-device attribution among marketers,facilitating a comprehensive evaluation of campaign effectiveness and allowing for strategic optimization across devices 1In 2023,Microsoft Advertising updated its cross-device attribution mod

178、el to enhance tracking of the customer journey and connect customer journeys across devices 2Microsoft reported that the models improved accuracy can lead to a small increase in the number of conversions in performance reportsMicrosoft Advertisings Cross Device Attribution Model23Enhanced Engagement

179、 via AnalyticsAdoption of visual and predictive analytics is reshaping omnichannel marketing,offering deep insights into customer behavior,preferences and trends thereby helping improve communication for enhanced the CX1 Dresner Advisory Services2 Polaris market research3 AThe increasing adoption of

180、 visual analytics tools and the enhancement of predictive analytics capabilities has transformed omnichannel marketingThis transformation is driven by a need to understand and engage with customers across an ever-expanding array of channels and touchpointsUse of Visual and Predictive Analytics for C

181、ustomer EngagementVisual data analysis tools,equipped with predictive analytics capabilities,facilitate quick visualization and analysis of complex data across channels,enabling marketers to anticipate customer needs These tools offer a comprehensive view of the customer journey,from first contact t

182、o the post-purchase journey,facilitating improved decision-making It also helps in optimizing omnichannel marketing by providing predictive insights into customer preferences and enabling immediate campaign adjustments through cross-channel data A 2023 study by Dresner Advisory Services has revealed

183、 that 53%of organizations consider data visualization and visual analytics a components of their business operations,underscoring the potential importance of visual tools in enhancing marketing-related decision-making 1Visual Analytics and Predictive Analytics ToolsThe increasing adoption of visual

184、and predictive analytics in omnichannel marketing is driven by the need to understand and engage with customers across multiple channels.These tools facilitate rapid data visualization,offer a comprehensive view of the customer journey,and empower marketers to optimize campaigns through predictive i

185、nsights thereby underscoring the pivotal role of visual tools in decision-making and revenue growthAdobe Marketo Engage,a leading visual analytics tool,enables precise marketing optimization by analyzing customer interactions at every touchpoint and identifying the most effective strategies,with vis

186、ually engaging reports 3During the forecast period from 2023 to 2032,North America is expected to generate the highest revenue in the global visual analytics market,primarily due to the growing emphasis on data analysis20232032$6.9B$31.3BGlobal Visual AnalyticsMarket($B)2 A key advantage of omnichan

187、nel analytics is its ability to provide predictive insights,which enhances personalization and engagement thereby enabling businesses to tailor their marketing strategies more effectively and strengthen connections with their target audience24In the evolving omnichannel marketing landscape,the trend

188、 of harnessing customer data and analytics is gaining unprecedented momentum A 2023 report from Martech.org revealed a significant number of marketing organizations consider their data and analytics capabilities to be at an early stage,with 47%viewing themselves as emerging“players and only 10%as le

189、aders”in the data and analytics usage 1The integration of customer data and analytics into marketing strategies has become essential for meeting consumer demands and offering personalized experiences across various channelsMarketing analytics tools transform the way businesses establish and execute

190、their marketing strategies Unified Marketing Tools:These tools centralize multi-channel data for real-time strategy optimization and comprehensive analysis,boosting campaign effectivenessUse of Customer Data and Analytics to Enhance Omnichannel MarketingCustomer Data and Marketing AnalyticsTools suc

191、h as Adobes Real-Time CDP enhance personalization and strategy by leveraging comprehensive customer data and analytics,enabling brands to tailor their marketing efforts based on individual customer preferencesAccording to Improvado,marketing analytics tools save 80-100 hours for sales and marketing

192、executives weekly by streamlining data collection and analysis and eliminating the need for manual data export and harmonization across platforms 2Improvado also suggests that the adoption of an advanced marketing analytics solution can lead to as much as a 30%improvement in marketing budget efficie

193、ncy 2 54%of companies that extensively use marketing analytics earn higher profits than the average 2CDP Tools for Customer Engagement and Ad Targeting 3 In 2023,Adobe unveiled upgrades in Adobe Real-Time CDP,offering over 600B annual predictive insights from real-time customer profiles Leading bran

194、ds including Chipotle,The Dow Chemical Company,and Novo Nordisk are using Adobe Real-Time CDP Meta has enhanced Facebook ad targeting and analysis by using Adobes tool for privacy-compliant,personalized customer engagement with first-party data Adobes Real-Time CDP analyzes 30T daily audience evalua

195、tions to activate personalized,cross-channel campaigns for growthCustomer Data Platforms(CDPs)are centralized systems that collect,organize,and manage customer data from various sources to create unified and comprehensive customer profilesCDPs simplify omnichannel marketing by offering real-time dat

196、a linkage and integration across technologies,ensuring cohesive channel management Budget Optimization:These tools identify high ROI strategies and highlight inefficiencies,guiding businesses to reallocate budgets from low-performing to more productive initiatives These analytics tools optimize deci

197、sion-making and future planning by identifying effective strategies and market trends through data analysisCRM Tools for Centralizing Customer Data HubSpot is a leading omnichannel marketing tool renowned for its ease of use and comprehensive features,including customer management,email campaigns,sa

198、les automation,and detailed analytics for effective strategy refinement 21 Martech.org2 improvado.io3 BusinesswireCustomer Relationship Management(CRM)tools enhance omnichannel marketing strategies by centralizing customer data for personalized campaigns and optimizing marketing performance through

199、data-driven insights25Section 4Content Marketing&Events Subsector26The global content marketing industry experienced significant growth,increasing from$413B in 2022 to$483B in 2023 and is expected to climb to$902B by 2027 demonstrating a 16.9%CAGR.This surge in growth is partly attributed to the inc

200、reased adoption of digital platforms and heightened consumption of content,particularly driven by long-lasting changes from the pandemicVideo platforms made up the largest market share in the content marketing industry in both 2022 and 2023 signifying the continued importance of video as a key chann

201、elAccording to HubSpot,social media marketers aimed to intensify their focus on short-form video content in 2023,with 33%of over 1,000 marketers intending to allocate their resources predominantly to this relatively new format 3 Furthermore,in 2023,YouTube Shorts witnessed a substantial increase in

202、monthly users,surpassing 2B,up from 1.5B in 2022,indicating the widespread popularity of short-form video content on the platform 4$95$122$143$167$196$230$270$316$371$435$51120202021202220232024202520262027202820292030Global Content Marketing Industry Size and Forecast($B)1Content Marketing and Even

203、ts Industry InsightsThe content marketing and events industry is witnessing rapid growth,fueled by increased content consumption,technological innovations,and the increasing adoption and importance of hybrid eventsIn 2020,the US corporate event market was valued at$95B and is expected to grow at a 1

204、7.3%CAGR reaching$511B by 2030Corporate events help win new customers,strengthen relations with existing customers,manage channel partners,and enhance corporate culture and connectivity Serving as a live form of content,corporate events play a pivotal role in sales and marketing strategies,offering

205、invaluable opportunities for networking,showcasing products or services,and fostering meaningful interactions with clients and prospectsThe pandemic-driven shift towards hybrid and virtual events allows businesses to increase reach,reduce costs and gain more attendees by eliminating barriersThe laun

206、ch of Production Studio by US-based Zoom Communications in August 2023,aims to equip event professionals with tools for creating refined virtual event layouts,thereby guaranteeing engaging experiences for attendeesNote:Virtual Events Market does not cover in-person events1 Allied Research2 Research&

207、Markets3 Statista4 Techcrunch27Global Corporate Event Industry Market Size and Forecast($B)2Forecast period 2021-30Forecast period 2023-2720232027$483.0B$902.1B2022$413.2BAccording to a ResumeB survey of 1,000 US business leaders,66%of leaders use ChatGPT for writing code,58%for copywriting/content

208、creation,57%for customer support,and 52%for creating summaries of meetings or documents 6AI-Based Tools Transforming Content CreationGen AI tools are revolutionizing content creation for marketing through automation and advanced capabilities,allowing companies to deliver engaging content more effici

209、ently and cost effectivelyCompanies are increasingly harnessing AI to automate content creation across various formats such as emails,videos,and images with tools like GPT API for text generation and DALL E for image creationThese tools not only help save time and resources but also ensures consiste

210、ncy in delivering marketing content For example,AI-based tools below facilitate the rapid production of high-quality contentBy ensuring a consistent flow of engaging content,these tools allow marketers to save time and focus more on strategic initiativesAccording to research,85.1%of AI users leverag

211、e the technology for article writing and content creation 1By leveraging AI algorithms,marketers can tailor content to individual consumer preferences and behaviors,thereby enhancing customer engagement and experience To optimize the outcome of marketing content,companies must strike a balance betwe

212、en automation and human input in content creationMarketers must augment AI-generated content with human creativity and expertise to ensure compliance with legal and ethical standards1 Authority Hacker2 Canva3 TheVerge4 Marketing Dive5 OpenAI6 Resume BuilderRevolutionizing Marketing with AI-Driven Co

213、ntent CreationIn October 2023,Canva introduced Magic Write,a part of its Magic Studio suite,comprising Gen AI technologies including image creation tools like DALL E and Imagen.Magic Write specifically facilitates the generation of on-brand text for social media posts and ads,streamlining content cr

214、eation and reducing time and effort required by users 2In March 2023,Adobe introduced Firefly,an AI-based image-generation tool for designers and marketersThe tool enables users to create custom images and graphics for marketing collateral,social media,and ads,eliminating the need for extensive desi

215、gn skills 3In November 2022,OpenAI introduced ChatGPT,a powerful AI chatbot that revolutionized content creation by automating the creation of emails,articles,and code,along with other intriguing functionalities 5Businesses have been using this AI-based tool to automate the creation of content,chat

216、responses,and business productivityIn March 2023,Coca-Cola developed an AI-powered platform,Create Real Magic,in partnership with OpenAI and Bain.This platform facilitates personalized interactions between fans and the brand by enabling users to generate their own AI-driven creative content 4Use Cas

217、es:Companies Enhancing Content Creation through AI-Based Tools28Increasing Adoption of Hybrid Models for Events&WebinarsPost-pandemic,the event marketing industry has experienced a resurgence of in-person gatherings alongside growing demand for a hybrid model in order to cater to a more geographical

218、ly diverse landscape1 LinkedIn2 Markets And Markets3 CventPandemic-driven changes have resulted in long-term shifts in the events and webinars marketRecently,there has been a resurgence of in-person events as pent-up demand has led to a strong desire for in-person gatheringsAlongside a growing prefe

219、rence for in-person events,there remains a strong demand for tools that facilitate virtual events,helping to increase attendance and provide measurement and analyticsConsidering that virtual events are a cost-effective and accessible means for corporations to connect with their audience,organization

220、s are increasingly seeking effective tools to help mitigate the complexity of modern virtual eventsThis is crucial in maximizing the success of virtual events and generating promising leads for businessesBy blending virtual and physical elements,companies can create immersive experiences that drive

221、meaningful connections with their audiencePlatforms such as Google Analytics offer specific features such as engagement reports and events reports which provide insights into attendance,engagement rates and session popularityThese insights and analytics help event organizers gauge what works and wha

222、t doesnt,enabling them to enhance future events and increase efficiencyPlatforms that Facilitate Virtual Events,Networking,and Attendee Engagement MeasurementNavigating the Evolving Landscape of Marketing Events29AI technologies like ChatGPT are transforming event planning by offering automated assi

223、stance for RSVP management,scheduling,and real-time attendee interactionThe events industry is moving towards hybrid models,emphasizing technology that enhances human-like interactions in virtual settings,reflecting the changing landscape of post-pandemic eventsDriven by the increasing importance of

224、 events and demonstrating tangible ROI,marketers expect event budgets to increase in the coming years.The corporate event market makes up a notable portion of revenue with Cvent estimating 1-3%of an enterprises total revenue is spent on meetings and events 320212026$7.0B$14.1BGlobal Event Management

225、 Software Market 2 As hybrid work continues to expand and consumers live in diverse locations,event management software is needed to address increasingly complex events with more attendees,multiple locations,and different time zones More attendeesMultiple locationsDifficulty coordinatingComplex even

226、tsDifferent time zonesConflicting schedules|3030Visual content,particularly on social media platforms,excels in capturing attention due to its inherent appealInteractive content formats such as quizzes,polls,and interactive videos are gaining popularity as they enhance audience engagement and allow

227、marketers to gather valuable insights into consumer preferencesThese types of content not only pique audience interest but also serve as low-cost and efficient methods to promote events and collect information about attendeesIndustry research indicates that interactive content yields 2x the conversi

228、ons of passive content and it is shared twice as much as traditional content 3This heightened engagement can result in increased brand visibility and ultimately drive more salesIn the domain of event marketing,AR/VR technologies are gaining traction,enriching both physical and virtual events in dist

229、inct waysFor physical events,AR/VR technologies introduce immersive experiences,enhancing engagement through unique and interactive momentsConversely,virtual events,conducted entirely online,leverage AR/VR to provide global access to immersive content and interactive experiences,which can match or e

230、ven surpass the engagement levels seen in traditional,in-person eventsIndustry Use CasesCosmetic giant Sephora uses interactive quizzes on its website to personalize product recommendations for its customersSimilarly,BuzzFeeds quizzes have become a cultural phenomenon,driving significant traffic to

231、their site and fostering deep user engagementBrightwave incorporated interactive elements like animations,quizzes,and polls into their email marketing campaigns to engage customers and provide them with interactive content experiences As technology continues to evolve,the future of content is poised

232、 to become even more engaging with advancements in AR/VR,AI/ML,and interactive storytelling offering creators and marketers new ways to connect with audiences through personalized and immersive experiencesA study conducted by Ion Interactive in 2023 revealed that incorporating interactive elements w

233、ithin digital marketing content and strategies can increase participation rates by up to 70%3Rise of Interactive and Immersive ContentAmidst the evolving landscape of digital marketing,interactive content formats are emerging as powerful tools for boosting audience engagement and gathering valuable

234、consumer insights1 Paracore2 Outgrow3 LinkedIn4 AdactTransformation of Digital Engagement with Interactive and Immersive ContentA report by Demand Gen revealed that interactive quizzes can boost conversion rates by as much as 50%150%In 2022,47%of marketers considered interactive videos one of the to

235、p three video types for maximizing engagement as it encourages active participation 247%Repurposing involves adapting content for different formats and platforms,allowing marketers to maximize the value of their existing contentContent repurposing leads to more efficient use of resources as it reduc

236、es the need for creating new content from scratch for every campaign or platformAccording to a poll conducted by Referral Rock in 2022,46%of marketers believe that recycling existing content is more effective than producing entirely new content in achieving their marketing goals 1Moreover,repurposin

237、g content is not just a matter of cost savings,but also an effective tactic for achieving marketing effectivenessThis is further supported by findings from Semrushs State of Content Marketing Report which found that 42%of marketers stated that repurposed content has played a crucial role in the succ

238、ess of their marketing campaigns 2These findings underscore the significance of content repurposing in optimizing content marketing efficiency,eliminating the need to start each project from scratch and maximizing resource utilizationRepurposing of Sales&Marketing ContentContent repurposing is a cor

239、nerstone of efficient marketing as it streamlines resource use and enhances campaign success across platforms and formats1 Referral Rock 2 LinkedIn3 Brand Credential4 Inioluwa AdemuwagunMaximization of Marketing Efficiency Through Content Repurposing Industry Use CasesAdidas effectively leverages co

240、ntent repurposing strategies to enhance the impact of its marketing efforts 3For instance,the brand repurposes content into downloadable PDFs that showcase collections and promotions.It distributes these as part of its email marketing campaignsHubSpot has transformed a blog post in web form into an

241、engaging eBook with the help of collaboration with Gravity FormsThis transformation has enhanced content depth,engagement,traffic,and diversified offerings 4Semrush repurposed a blog post from 2022 into an Instagram carousel in 2023.Converting it into an infographic helped the platforms Instagram au

242、dience better understand the content while driving traffic to its website 4Most Cost-Effective Content Creation Methods 1Updating existing content without changing medium or channel(33%)Creating new content(2%)Repurposing existing content for different mediums or channels(65%)94%of marketers repurpo

243、se content for different channels and mediums 16%of those who did not repurpose content in 2022 were considering doing so in future 131Video Marketing Elevates Customer EngagementAccording to Buzzsumo,videos on Facebook generate 12x as many shares as text and images combined 3In 2023,US adults spent

244、 an average of 45 monthly hours on TikTok 6Emergence of Video MarketingVideo marketing boosts brand reach,sales growth,and customer loyalty with its unmatched engagement and ROI,thereby dominating the advertising space in recent times1 Personify2 Wyzowl3 LinkedIn4 HubSpot5 C6 Tagembed7 Buzzhubsocial

245、Short-Form Video as a Key Driver of Marketing Success32As per HubSpots 2023 Video Marketing Playbook,83%of marketers suggest videos should span less than 60 seconds,indicating the rising popularity of short-form videos to captivate consumers 4Most Gen-Z(57%)and a significant portion of Millennials(4

246、2%)prefershort-form videos over other formats to learn about products and their features 4Video Ads are Shared 12x More than Image-Based Ads 188%of marketers believe that video content significantly improves their ROI 1As per a 2023 Wyzowl study,88%of marketers recognize video as a cornerstone of th

247、eir marketing strategy 2Advantages of Video Advertising and CPV-Based ModelsVideo ads have a lower CPV and retarget of viewers based on their interactions Googles AdWords implemented CPV-based video advertising;advertisers are only charged if viewers watch their ad for a minimum durationUser Generat

248、ed Content Drives Marketing SuccessTikToks success relies on UGC,signifying the importance of authentic content in an age dominated by generic corporate adsIn 2023,Glossiers UGC Instagram hashtag campaign effectively engaged its audience with customer-submitted content,building brand credibility and

249、 personal connections 7%of Businesses That See Video as an Important Part of TheirMarketing Strategy 720152023+18%78%96%Section 5eCommerce&Customer Experience Subsector33$19.0$22.4$26.5$31.2$36.8$43.4202420252026202720282029Global Customer Experience Management Market Size and Growth($B)2 eCommerce&

250、Customer Experience Industry InsightsStrong growth in the eCommerce and customer experience market is fueled by the rise in online shopping and an increased focus on customer experience as a way to differentiate in a highly competitive marketGlobal eCommerce Platforms Market Size and Growth($B)1The

251、Global eCommerce Platforms Market,valued at$6.2B in 2022,is projected to grow at a 12.7%CAGR reaching$9.9B by 2027This growth is driven by the rapid expansion of online shopping,increasing adoption of mobile commerce,strong demand for omnichannel solutions and a focus on customer experienceKey playe

252、rs like WooCommerce,Shopify,Magento,OpenCart,and BigCommerce focus on enhancing customer experience,integrating new technologies and expanding their global reachThese players invest in data analytics,cybersecurity,and supply chain optimization to meet the evolving needs of online shoppers and ensure

253、 efficient operationsFor example,Shopify invested in enhancing its data analytics,cybersecurity,and supply chain capabilities for efficient operations catering to evolving shopper demands,and empowering businesses to thrive in an increasingly digital environment1 Verified Market Research2 Mordor Int

254、elligenceThe Global Customer Experience Management Market is expected to reach$19.0B in 2024 and is projected to grow to$43.4B by 2029 at a CAGR of 17.9%The increasing emphasis on personalized and seamless interactions across multiple touchpoints,fueled by advancements in technology and rising consu

255、mer expectations,is helping to drive growthIn todays digital age,increased competition has led to a plethora of optionality as consumers now have more options than ever for products and servicesAs competition continues to increase,brands and stores look to customer experience as a way to differentia

256、te and win customers.This has led to increased investment in customer experience management solutions as businesses continue to improve the customer experience in hopes of winning new customers and creating loyal existing customersBusinesses are recognizing that delivering exceptional customer exper

257、iences isnt just a competitive advantage,it has become a fundamental requirement for long-term success3420232027$6.2B$9.9B2022$5.5BHyper-personalization is revolutionizing sales&marketing by tailoring shopping experiences to individual preferences,behaviors,and demographics,driving increased engagem

258、ent and conversion ratesThis tactic transcends traditional personalization through the use of advanced technologies such as AI and recommendation engines to analyze extensive data setsAs a result,hyper-personalization tailors experiences to consumer preferences more accurately,thereby enhancing cust

259、omer satisfaction,fostering loyalty,and boosting overall marketing effectivenessIn 2023,Evergage,a Salesforce subsidiary,revealed that 88%of companies have observed significant improvements in business results due to hyper-personalization 1Prominent brands like Amazon,Spotify,and Starbucks have inco

260、rporated predictive personalization into their eCommerce platforms,utilizing AI/ML to analyze a diverse range of factors that power their recommendation engines.These factors supply valuable data and insights,enabling the customization of recommendations for individual usersIn contrast,most business

261、es focusing on personalization typically limit themselves to segmentation without delving into more advanced approachesUse of Hyper-Personalization by Brands 2 Personalization MaturityRevenueSingle Message MailingFieldInsertionLimit of hyper-personalization by most businessesSegmentation Rules Based

262、Behavioral RecommendationsOmnichannel OptimizedPredictive PersonalizationHyper-Personalization in Sales&MarketingThe use of AI and real-time data for hyper-personalization is transforming sales&marketing,helping to enhance the customer experience and ultimately drive more sales1 LinkedIn2 Instapage3

263、 Kensium4 WediaEmergence of Hyper-Personalization Starbucks leverages AI for hyper-personalization in its eCommerce platform,analyzing real-time data to tailor offers based on user preferences and past purchasesWith over 400,000 hyper-personalized message variations,Starbucks ensures uniquely custom

264、ized interactions with its loyal customers 4Amazon stands out as a leader in hyper-personalized marketing,employing a sophisticated algorithm backed by predictive analytics and using item-based collaborative filtering.This recommendation engine contributes to 35%of Amazons total revenue 4For instanc

265、e,if a customer buys a dog chew and has a history of watching Pixar films,Amazon might suggest Toy Story-themed dog toysLeading Examples of Hyper-Personalization for Brands&Retailers35A 2023 Gartner survey revealed that 60%of marketing leaders expect the complexity of balancing customer value and pr

266、ivacy in collecting first-party data to increase in 2023 3Despite 85%of respondents indicating that their organizations have implemented formal policies to oversee the collection,storage,processing,and sharing of customer data for effective data management,the challenge of ensuring privacy remains p

267、revalent 3The survey also highlighted a shift toward enhanced personalization,with 42%of marketers aiming for one-to-one personalized communications,emphasizing the need for strategies that balance data collection and privacy 3Effective personalization hinges on marketers understanding their audienc

268、e through customer data while creating strategies that enhance customer experience and earn trustNavigating Personalization,Privacy,and Data Sharing in MarketingStrategic Moves to Balance Data Privacy and PersonalizationUsing a broad mix of marketing channels helps companies collect diverse first-pa

269、rty data for data privacyAs per a 2023 Gartner study,managing 11 or more channels has led nearly 50%of marketers to enhance their first-party data acquisition 4Implementing data control and privacy policies enhances loyalty and enables personalized marketing that adheres to customers specific privac

270、y preferencesAs per research from Cisco,over 75%of companies investing in strong data privacy protections witness higher customer loyalty and trust 5Adoption of a privacy by design approach,which includes integration of privacy into initial planning,data minimization,pseudonymization,and use of non-

271、personal data for targeted campaigns,ensures personalization along with data protection Companies like Netflix and Spotify align their marketing strategies with data privacy by leveraging recommendation algorithms to provide personalized suggestions to users 7 These algorithms analyze user preferenc

272、es and behaviors based on the data voluntarily shared with the platforms By focusing on providing value to users through personalized recommendations,these companies can encourage users to share more data willingly By respecting user privacy while offering enhanced personalized experiences,these com

273、panies build trust and strengthen their core value propositionsAn organizations marketing and data privacy policies should be aligned so that marketing is carried out in tandem with secure data practices and compliance with privacy regulations67%of the respondents from LXAs 2023 survey strongly agre

274、e that their organizations marketing activities and data privacy policies are completely aligned 11 The State of Data Privacy and Trust 2023 report by LXA2 McKinsey3 Gartner Survey4 Gartner5 Cisco6 BCG Research7 GSPANN for Data Privacy 67%of respondents view privacy rules as obstacles to scaling per

275、sonalized marketing strategies,according to a 2023 survey by LXA 171%of US consumers desire personalized marketing and want to share data for targeted messages,highlighting the need for need for effective data privacy in order to create transparency and build trust in marketing strategies 2Balancing

276、 Data Privacy and PersonalizationAs marketers leverage customer data for personalized strategies,they also face challenges in balancing privacy with the need for creating a personalized experience36With the seamless integration of shopping and social media,social commerce is reshaping the eCommerce

277、customer experience by offering a frictionless journey from product discovery to final checkoutA surge in social media usage along with substantial investments in social media advertising has resulted in a significant uptick in global social commerce sales Social commerce is transforming every inter

278、action within platforms such as TikTok,Facebook,and Instagram into revenue-generating opportunities,streamlining the shopping process and providing a more convenient and engaging experience for customersInstagrams live streaming is interactive and allows customers to shop during the streams,boasting

279、 up to 40,000 comments in a single session 2Similarly,on an average,a live shopping event on TikTok boosts sales and enhances customer experience with instant interaction,product demos,and Q&A sessions 2Emergence of Social CommerceSocial commerce,which includes the integration of shopping and social

280、 media,has transformed customer experience,allowing users to discover and purchase products directly within their social media feedsImpact of Social Commerce on Customer Experience1 Businesswire2 McKinsey&Company3 Statista4 Simplicity DX$64.8$76.6$90.6$107.1$126.5$149.62023202420252026202720285 Mark

281、eting Dive6 Datareportal7 eMarketer,2023373.5B users2.5B reach2.0B users2.0B users1.6B users482M usersTotal social media users around the world reached approximately 5B as of January 2024,roughly equivalent to 62.3%of the worlds population.This highlights the significant impact of social commerce in

282、 the sales and marketing sector 6AI tools enhance the monetization efficiency of Instagram Reels by providing targeted advertising opportunities based on user behavior,preferences,and engagement patternsAI-driven advertising can increase click-through rates by up to 50%and reduce customer acquisitio

283、n costs by 30%7Social Commerce Sales in the US($B)3The AI eCommerce market poised to reach$16.8B by 2030,growing at a 15.7%CAGR over the next six years 4AI has reshaped social commerce with features such as voice search,personalized recommendations,and enhanced content creation through AI-powered co

284、ntent reaction toolsIn 2023,AI advancements led to a 30%increase in monetization efficiency on Instagram and a 40%increase on Facebook 5By leveraging AI for content creation,brands are continuously engaging social media users with hyper-targeted contentTransformation of Social Commerce Through AIThe

285、 rise of online shopping and omnichannel retail has increased the popularity of AI chatbots by necessitating efficient customer support across various digital platformsAI chatbots offer scalable 24/7 assistance which significantly improves customer engagement and satisfaction in an evolving eCommerc

286、e landscapeThe use of generative AI boosts conversational tools by enabling text-based chatbots and voice bots to generate more nuanced and contextually relevant responses,making them more effective in handling complex interactionsAI chatbots have evolved into indispensable assets for customer suppo

287、rt,playing a pivotal role in elevating the customer experience while driving cost reductionsAccording to Indeed,chatbots cost on average between$500-$5,000 per month compared to$3,900 per month for the average salary of one customer service representative in the US 1,2Given that chatbots can handle

288、an unlimited number of support requests while still costing less than two human agents,they allow organizations to streamline support-related expenses and maximize operational efficiencyThese tools empower eCommerce enterprises to not only meet the evolving needs of consumers,but also craft personal

289、ized journeys and provide prompt responsesGiven the recent advancements in Gen AI,many companies are leveraging open-source models and APIs to quickly integrate into their existing platforms.However,investors and strategic buyers place more value on proprietary language models which have been traine

290、d on custom data setsAI-Powered Customer SupportAI-powered chatbots improve customer experience and reduce costs by mitigating labor expenses linked to staffing,training,supervising support teams and overhead costs for maintaining physical support centers1 Aisera2 Faye Digital3 Zowie4 TidioIn May 20

291、23,Aisera collaborated with Microsoft to introduce an AI copilot for enterprise services,integrating ChatGPT and Azure OpenAI Service capabilities into its AI Service Experience Platform.This move aims to improve customer service through advanced AI chatbot functions having produced impressive resul

292、ts so farZowie,an AI-powered customer service platform,offers a shopping assistant and a chatbot that can personalize interactions using customer data,helping to increase conversions and order value 3Tidio offers Lyro,a conversational AI tool that engages with customers and answers their questions s

293、olely based on support contentTidio solves up to 70%of customer problems in seven languages on any live channel,while its AI Agent answers customers in six seconds using only stored data 475%80%Auto-Resolution Rate 2Reduction in customer operations costs 2The Rise of AI Chatbots and Conversational A

294、I in Customer SupportAI Chatbots for Customer Support59%76%Decrease in waiting time 4of visitors do not request transfer to a human agent 438Transforming Customer Communication(1/2)In the modern digital era,businesses place a strong focus on optimizing every customer interaction through the use of p

295、owerful customer communication tools Customer Engagement Through Contact Center as a Service(CCaaS)391 Zendesk2 Lumoa3 Whatfix4 Grand View ResearchAmidst the digital era,tools that improve and enable customer communication are pivotal for facilitating real-time interactions between businesses and cu

296、stomersServing as a cornerstone for marketing,support,and sales teams,these tools facilitate dynamic dialogues across various channels,fostering connections that drive company successIn the current sales and marketing environment,businesses are rapidly increasing their investments in customer servic

297、e and supportThis intensified focus on customer service initiatives is yielding concrete positive results,including heightened customer satisfaction,enhanced brand loyalty,increased conversion rates,and improved business performanceIn the continually evolving landscape of customer service,the ubiqui

298、ty of smartphones has intensified consumer expectations,prompting significant transformations in contact centersLegacy systems are being replaced by CCaaS alternatives to meet demands for efficiency and effectiveness in providing outstanding and seamless support2030$149.6B2023$33.4BGlobal Contact Ce

299、nter Software Market($B)4The modern consumer expects efficient resolutions of their questions and concerns,making it imperative for businesses to optimize customer support procedures and remove any hindrances that could disrupt a seamless customer experienceAs a result,60%of leaders in customer expe

300、rience are prioritizing investments in digital tools such as CCaaS software that enable businesses to engage with customers quickly and easily 3of consumers have noticed improvements in their support experiences,a trend reflecting the strides made in customer communication by businesses,per a recent

301、 from Zendesk 1 57%Transforming Customer Communication(2/2)Customer communication tools are being modernized by incorporating cloud technology,Gen AI,and other advancements in order to improve customer experienceRevolutionizing Customer Communication with CCaaS Solutions401 Zendesk2 Lumoa3 Whatfix4

302、Grand View ResearchCCaaS empowers businesses with cloud-based solutions,providing enhanced scalability,flexibility,and improved satisfaction through efficient management of customer interactions across multiple channelsAnother benefit is the ability to streamline operations and reduce costs for busi

303、nesses by eliminating the need for on-premises hardware and maintenanceCCaaS is empowering businesses to comprehensively address customer questions,ensuring prompt responses and effective solutions that enhance satisfactionReal-time customer data is leveraged to optimize agent performance,while busi

304、ness analysis tools are used to track essential metrics for informed decision-makingThese solutions serve as cost-effective alternative to legacy solutions,as they eliminate the need for expensive hardware,maintenance costs,software purchases,and in-house IT resourcesNotable Providers of CCaaS Solut

305、ionsWhat Does CCaaS Offer?Call RoutingCall Handling Interactive Voice Response(IVR)Omnichannel SupportUsing CRO to boost eCommerce sales involves crafting a personalized shopping journey to boost conversions and enhance the overall customer experienceeCommerce players can significantly boost convers

306、ion rates and sales by providing personalized recommendations based on shopper data and browsing history on product detail pages(PDPs)With global mobile eCommerce sales exceeding$2T in 2023,optimizing PDPs for mobile web browsers is essential for unlocking significant sales and revenue growth 3PDPs

307、are crucial in the conversion funnel for eCommerce shopping.They provide detailed information about individual products,including images,descriptions,specifications,pricing,and reviewsOptimizing PDPs ensures they are visually appealing,easy to navigate,and informative,thus reducing friction and enha

308、ncing the overall shopping experienceA frictionless customer experience is crucial for improving conversion ratesAccording to Forrester Research,companies that prioritize a seamless journey see a 1.6x increase in customer lifetime value and a 1.4x boost in revenue compared to their counterparts 2A s

309、eamless customer journey involves breaking down barriers,making every section of the website quick to navigate,introducing effective product detail pages,and strategically placing product recommendations at the checkout stageConversion Rate Optimization(CRO)Small adjustments to the product detail pa

310、ge(PDP)such as optimizing various elements to enhance user experience and increase engagement,can lead to incremental improvements which drive significant revenue growth411 Big Commerce2 Five93 Shopify4 LinkedInGranify is a conversion rate optimization platform that leverages AI/ML to analyze shoppe

311、rs behavioral and contextual data to create a highly personalized and engaging experienceHotJar,a product experience insights platform,allows eCommerce companies to refine their conversion rate optimization strategy 4By delving into user behavior,collecting insightful feedback,and implementing A/B t

312、esting for informed decision-making,Hotjar equips platforms with the tools to optimize customer journeys effectively,ultimately maximizing conversion ratesOther CRO Tools Used By eCommerce WebsitesAccording to industry leaders,typical eCommerce conversion rates hover between 2.5%and 3%,which means e

313、ven small incremental improvements can lead to significant revenue growth 1 Online stores are now aiming to achieve a conversion rate of 3%or higher 1Conversion Optimization in eCommerce Some CRO Tools Used By eCommerce PlatformsDuring peak sales periods such as Black Friday or Cyber Monday,online b

314、usinesses are exposed to security threats including competitor bot attacks,Man-in-the-Middle(MITM)intrusions,and disruptive Distributed Denial of Service(DDoS)attacks that overwhelm the websites with requestsTo fortify security,eCommerce platforms implement measures such as firewall protection,HTTPS

315、 encryption,anti-malware,and anti-virus software,along with routine data backupsThese measures help mitigate risks,avoid data breaches,and build strong consumer trusteCommerce platforms must align with industry standards such as Open Web Application Security Project(OWASP),ISO 27001,and Payment Card

316、 Industry Data Security Standard(PCI DSS)These standards ensure that platforms establish a secure online environment,safeguarding customer transactions and data,and contributing to an optimal shopping experienceThe growing adoption of online shopping has fueled concerns about data privacy and securi

317、ty in the eCommerce spaceTo address these concerns,eCommerce sites are implementing enhanced security measures such as advanced encryption and multi-factor authentication to protect customer data and foster trustSince eCommerce systems store valuable personal data,companies need a robust defenses ag

318、ainst hacking attempts to prevent unauthorized access and theft consumer of informationRising Focus on Data Security in Online ShoppingWith the increasing adoption of online shopping,eCommerce platforms are focusing on strengthening data privacy through advanced security measures,such as encryption

319、and multi-factor authenticationData Privacy and Security 421 Login Radius2 itransition3 StripeeCommerce Security:Threats,Solutions,and Industry Standards91%of organizations disclosed at least one cyber attack incident in 2022 2of all cyber attacks in retail have financial motives 2estimated global c

320、ost of online payment fraud by 2025 398%$206BoAccording to Expert Insights,over 90%of small businesses operating online experience with data breaches,underscoring the critical need for robust security measures across the digital landscape 1Section 6Loyalty&Customer Engagement Subsector43$19.3$21.4$3

321、2.2202220232027Loyalty&Customer Engagement Industry InsightsThe loyalty management and customer engagement industry is experiencing strong growth as consumer attention is increasingly scarce,digital shopping continues to accelerate,and businesses focus on the post-purchase experienceGlobal Loyalty M

322、anagement Market($B)1The global loyalty management market reached$6.5B in 2023 and is projected to grow at a 22.3%CAGR reaching$14.5B by 2027This growth is largely driven by the adoption of emerging technologies including ML/AI-driven loyalty management solutions.These solutions offer personalized i

323、ncentives which boost sales and enhance customer engagement Retailers are responding by investing significantly in loyalty management programs and forming cross-brand partnerships for improved customer retention For example,in 2024 Target announced it was upgrading its Circle loyalty program with au

324、tomatic checkout discounts and free two-day shipping,showcasing a trend among retailers as they look to strengthen customer retention strategiesDue to rising marketing costs,retaining existing customers and preventing churn is significantly more cost effective compared to acquiring new customers It

325、is estimated that acquiring a new customer can cost 5x 7x more than retaining an existing customer 31 Fortune Business Insights2 Polaris Market Research3 Forbes4 PR NewswireThe global customer engagement market reached$21.4B in 2023 and is projected to grow at a 10.8%CAGR reaching to$32.2B by 2027Th

326、e customer engagement market is fueled by an increased focus on customer satisfaction as well as consumers increasingly scare attention given the influx of ads Further,customer engagement strategies aim to retain and expand the customer base,reduce grievances,and foster enhanced interactionsTodays a

327、ttention economy is saturated with corporate ads as consumer attention is increasingly scarce thereby emphasizing the importance of optimized customer engagement strategies in order to cut through the noise and forge meaningful connections with customers According to a recent study,66%of consumers s

328、urveyed want fewer marketing messages and 27%feel they are bombarded by marketing messages 4Global Customer Engagement Market($B)24420232027$6.5B$14.5B2022$5.3BFurthermore,as confidence in conventional advertising dwindles,the credibility of social proof is ascendingSocial proof,which involves lever

329、aging authentic user-generated content,significantly impacts customer loyalty and purchase decisions.This includes UGC photos and videos,ratings&reviews,social media posts,and moreGiven the increased level of competition and optionality consumers face,many shoppers are turning to ratings&reviews in

330、order to research products and gain a deeper understandingSocial proof not only fosters credibility but also cultivates trust among potential customers,impacting consumer behavior and the decision-making processSocial Proof in MarketingSocial proof plays a pivotal role in marketing as it provides au

331、thentic validation and credibility,influences purchasing decisions,and reduces content marketing costs compared to traditional advertisements451 Wiser Notify2 Gartner3 Sprinklelr4 Social Champ75%of consumers search for reviews and testimonials before making a purchase 1of customers prefer brand-rela

332、ted content generated by individual users 243%Dominance of Social Proof in Marketing Over Traditional Corporate AdsExamples of Brands Leveraging Social ProofAmazon leverages social proof by prominently displaying customer reviews,star ratings,and product images.The review system captivates customers

333、 attention and helps to build trust 3Apple harnesses UGC by inspiring customers to showcase their creative endeavors with Apple products.The Shot on iPhone campaign,an advertising initiative that showcases the photographic capabilities of iPhones based on user content,not only highlights product versatility but also strengthens Applesinnovative and artistic brand image 3Patagonia has demonstrated