LONDON, Nov. 24, 2014 /PRNewswire/ -- The convergence of cloud technology, big data, and mobile is driving a paradigm shift in marketing. The age of anonymous messaging with generic segmenting or targeting is over as the technology to support more contextual engagement comes to market. Mobile marketing is shifting from a campaign focus to a customer focus and mobile users increasingly expect brands to deliver personalized messaging and content relevant to their current physical and digital environment. A multitude of vendors are emerging in the mobile ecosystem that are focused on helping brands engage with mobile users on an one to one, personalized, and contextual basis. These competitors are growing quickly, with the mobile engagement platform market forecasted to reach $405 million in 2014, a 105% increase over 2013.
A primary demand driver for these platforms is fueled by enterprises' need to generate more value from existing applications. By leveraging next generation engagement platforms, brands can encourage users to interact with their apps more regularly and for longer periods of time, extending the lifespan of the app. Vendors' ability to measure and demonstrate the ROI and value of capturing the mobile moment with the right message at the right time and is also helping to stimulate growth. Technology advancements are another factor helping to support new engagement tactics. The emergence of iBeacons and BLE technology is helping to drive investment in proximity based marketing strategies creating opportunities for brands to engage users based on more precise location data. Advanced smartphones with a greater quantity of sensors and better battery management is also providing more real-time environmental data to enable greater context.
The American consumer is spending more time each year looking at their phones and accessing the internet via mobile apps. Marketers are beginning to adjust their budgets to reflect these trends but some barriers to adoption of mobile engagement platforms still exist. The lack of effective communication between IT and marketing departments has limited the ability for enterprises to formulate a holistic mobile strategy. Consequently organizations are taking advantage of mobile engagement platforms to support. The nuance of each potential situation represents significant risks for brands if they get it wrong. The challenge of understanding all the possible scenarios to effectively deliver the right message at the right time is also slowing adoption of mobile engagement platforms.
To execute one to one mobile engagement, platform vendors need to integrate three fundamental processes.
- Behavior Analytics and Tracking – The process of tracking users' behaviors in the digital and physical world to identify patterns.
- Marketing Automation – The process of leveraging analytics to define messaging and triggers to automatically deliver the right message to the right segment at the right time. These triggers and segmentations are informed by analytics and tracking.
- Messaging – The process of delivering messages and content thought the right messaging channel including, push, in-app, and SMS messaging or even widgets.
While distinct value propositions, these processes need to work together to enable effective personalize contextual engagement. As this market gains more traction and continues to attract capital, companies from various segments of the value chain including: analytics, automation, messaging, and CRM are eyeing the opportunity. Working to leverage their existing relationships, large enterprise software vendors are also positioning themselves as omnichannel engagement providers and will be an important force in the market.
The market for mobile engagement platforms will be crowded and competitive and not all will survive. Execution and a constant focus on benefiting the mobile app user with valuable and contextual content and messaging will also be a key differentiator. Companies that can build this customer focused mindset into their corporate culture and business models will be better positioned to reach consumers. Integrating the right data with appropriate predictive models will also be an important competitive advantage.
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