There has been a substantial transformation in the procedures involved in the marketing activities of various companies. With the rise in complexity of marketing activities, organizations are fortified to adopt Marketing Resource Management (MRM) solution for the realization of their marketing endeavors. Further, the businesses are confronted with multifaceted assortment of consumer segments, products/brands channels, regions, and marketing programs, which further necessitates the appropriate resource distribution for attaining high commercial profitability. Moreover, in today’s dynamic business environment, several marketing personnel are considering the expansion in business competencies and workflows to professionally manage their marketing resources in a more simplified manner.
The escalating digitization of content and the emergence of novel models of distribution among organizations have enlarged the prospect of MRM across diverse industry verticals. From content generation to its distribution, providers across the marketing solutions ecology are gaining the advantages of MRM market progressions. Further, the new video formats and data delivery approaches such as mobile and social media have generated prospects for MRM vendors. Thereby, this increases the demand for marketing solutions that can cater to expansive marketing needs such as resource performance, multi-channels, and brand management among various others.
Currently, with the help of continual advancements in MRM software, companies are encouraged to access and allocate their marketing resource and digital content within the centralized management. The usage of MRM solutions helps companies to efficiently manage and access marketing resources as it offers real-time updates about their allocation and usage. Thereby, this allows more defined usage of the marketing resources across varied channels and geographies, along with their linkage with other organizational systems such as CRM and ERP.
With the evolution of cloud-based MRM solutions, the businesses are empowered to augment their marketing efficiency in a cost-effective manner, as IT resource enlargement is relatively less required for its implementation and support. This in turn has fortified MRM solution providers to offer these cloud-based solutions to expand their services and enter prospective markets. Furthermore, MRM solutions are increasingly becoming predominant, as they help companies in optimum utilization and tracking of their marketing resources, along with managing their varied channels such as mobile through a single platform. This further enhances the adoption of cloud-based MRM solutions across the world.
The major driving force for the MRM software market is the increased consumption and emphasis on digital media. Today, companies are progressively focusing on the digital medium for marketing endeavors due to the substantial adoption of mobile devices, growing internet consumption, along with the increasing overall time spent by the users online. Thereby, this fosters businesses to consider MRM solutions that can supplement their business advancements and improve customer relations.
Over the years, the consumer goods and IT & Telecom vertical were increasingly adopting the solution as it is imperative for these companies to sustain in the fierce competition, along with providing assistance for management of vast digital content. Additionally, with the undisputable imperativeness of marketing endeavors and polices among businesses, the traction for MRM solution across other verticals such as government has substantially grown. Moreover, the companies’ consideration for investing in MRM is increasing extensively as the benefits attached with it encourage its deployment along with facilitating competitive advantage over others. In the years to come, this trend is expected to continue leveraging MRM solution vendors to offer more advanced and superior solutions with CRM and ERP integration, and mobility as a prime constituent for empowering contemporary MRM solutions. However, the MRM solutions adoption is inhibited due to the lack of awareness about the features of MRM among workforce that can easily leverage the solution and other features such as marketing analytics for heightened business progressions. Considering this, the report further helps to identify the latest patterns and trends intensifying the progression in the MRM market across all regions.
There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. A few of the global assumptions include political, economic, social, technological, and economic factors. The dollar fluctuations are expected to not seriously affect the forecasts in the emerging regions.
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the MRM market into solutions and services covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and its sub-segments. The market numbers are further split across deployment type, user type, and industry vertical across all the major regions.
- This report will help the organizations to better understand the competitors and gain more insights to better position one’s business. There is a separate section on competitive landscape, including end user analysis, mergers and acquisitions, and venture capital funding. Besides this, there are company profiles of ten major players in this market. In this section, market internals are provided that can help place one’s company ahead of the competitors.
- The report helps the organizations to understand the pulse of the market. It provides information on key market drivers, restraints, and opportunities.