Marketing attribution software is used by a number of enterprises and companies to determine actions or touch-points that help customers before they proceed to buy a product, which eventually contributes to the success of company’s sales and marketing team. In the recent years, there has been a surge in the demand for marketing attribution software, influenced by the growing need to optimize marketing spend while tracking customer behavior for targeted marketing activities. This in turn has led to the development of global marketing attribution software market.
With increasing adoption of data-driven approaches among marketers for effective marketing activities, the marketing attribution software is expected to gain rising demand in the coming years. In addition, it provides a number of benefits to the enterprises including marketing spend optimization and data-driven decision making along with performance measurement.
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Marketing Attribution Software Market – Notable Developments
Adobe, SAP, Oracle, Neustar, LeadsRx, Singular, Attribution, WIZALY, Analytic Partners, Fospha, Google, Visual IQ, Rockerbox, Engagio, LeanData, Marketing Attribution, CaliberMind, OptiMine, Merkle, and IRI are among the key players in the marketing attribution software market.
- In February 2019, Engagio, a leading player of the marketing attribution software market, launched an Engagement Minute Attribution for Dash, the company’s account-based attribution solution. It has become the first engagement-based attribution that can measure the impact of both marketing and sales activities together.
- In October 2018, Adobe completed its acquisition of Marketo which enabled the company to offer a combination of content capabilities, personalization, and analytics of Adobe Experience Cloud and Marketo’s revenue attribution technology, account-based marketing, and lead management to the customers.
- In April 2018, LeadsRx, a leading provider of marketing attribution software, launched a new product, specifically developed for the complex requirements of broadcast advertising. It offer attribution capabilities for broadcasters to gain in-depth insights into different types of programming, ads, and audiences that are highly effective.
- In September 2017, Visual IQ was acquired by Nielsen Holdings to enhance its ability of collecting and processing a large pool of datasets by employing Visual IQ’s marketing attribution software.
Marketing Attribution Software Market Dynamics
Technological advancements including social and mobile technologies have brought a significant transformation in marketing as well as consumer patterns. In addition, rapid penetration of mobile devices and channels coupled with emerging trends of personalized marketing have affected the traditional strategies of marketers and enterprises toward customer experience. In an effort to mitigate these issues, companies deploy advanced strategies over various channels which has increased the adoption of marketing attribution software. These are the important factor contributing to revenue maximization of the marketing attribution software market.
Continued focus of enterprises on optimizing the marketing spend and increasing investments in digital marketing are expected to accelerate the growth of marketing attribution software market. Further, they are concentrating on effectively targeting new customers while reducing the attribution rate of existing users which will possibly complement the future expansion of marketing attribution software market.
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Although the marketing attribution software market is anticipated to maintain a positive outlook in the coming years, various options and selection of relevant marketing attribution models and vendors may negatively impact the market growth. Further, stringent data regulations that make it difficult for vendors track personal information is considered to be a restraining factor of the marketing attribution software market.
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