Digital Marketing Software Market in Australia - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The digital marketing software market is expected to witness a CAGR of 10% over the forecast period (2021 - 2026). Artificial Intelligence is a key trend where businesses can study consumer behavior and look for patterns, using data from blog posts and social media channels to help marketers understand how customers engage with their brand. Chatbots can help businesses automate and optimize their customer service. Brands using AI are expected to accelerate growth and save costs, gaining a competitive edge over their competitors.

• Surge of web and expanded digitization is a key driver for the market. The Australian Government has many strong digital initiatives and foundations in place. Applying digital tools to the activity has the potential to transform each step of the retail value chain, from sourcing, distribution, logistics, and instore operations, through to the customer-facing areas of marketing, omnichannel consumer experience, and ongoing consumer engagement.
• Growing trend of personalized marketing and the proliferation of mobile devices has complicated marketing strategies to achieve enhanced user experience. It has raised a need for cloud technologies for targeting customers personally and introducing policies to automate their marketing process, where SaaS (Software as a Service) remains the largest segment of the cloud market in Australia, which gives a key driver for the growth of market.
• Lack of skilled professional in integrating analytics and marketing solutions to measurable marketing campaigns is hindering the market in this country.

Key Market Trends

Facebook Driving Social Media Marketing Platform

• Digital ad spending is becoming a crucial point to acquire more consumers. Social media marketing is growing with the increase in the advertisement part for business in facebook segment compare to other social media segments.
• With so many different marketing options on facebook, sometimes it is difficult to get the most out of the campaigns, but there are solutions such as GetResponse’s app software that embeds sign-up forms on facebook company page. This allows prospective leads and interested page visitors to easily sign up for more information and know more about the business they offfer.
• Lorna Jane’s a retail outlet ranked number one on facebook by taking advantage of social media as an engagement tool. Also Cyfe’s business dashboard displays various metrics that are often indicative of successful marketing campaigns in Australia. With this information one can track facebook data to instantly assess an overall campaign performance, cost, CTR, impressions, post engagement ads and lead generation ads which is one of the fastest ways to grow business online.
• Fat Digital, a social media company in Australia takes time to research and identify opportunities as every business comes to them with different challenges and produce campaign messages that engage target demographic, encouraging shares and likes.

E- Commerce Sale in Retail to Gain the Market

• The Australia e-commerce market is growing and new players are adopting more e-commerce business model to benefit from the increasing smartphone usage. Retailers are also adopting online business platform for new revenue streams and to create an omni-channel presence.
• According to eshopworld, digital shopper penetration is currently at 62.58%, and expected to reach 69% by 2020. Cloud-based software vendors, such as microsoft azure and google cloud are offering customer experience solutions to address the customer churn in Australia.
• 7 - Eleven software is the third largest private company in Australia and it is the market leader in convenience retail and the app the company has decided to roll out gives a platform where users can share ideas about how to build onto the app’s basic platform and add services that would enhance its worth in the retail sector.
• Samsung Australia is proudly ranked as an incomparable retail brand, with presently 14,639 subscribers and 41,972,302 total uploaded video views on YouTube. As one of the tech giants, their ability to engage with the social community is meaningful and very dynamic by adopting hyperlocal strategy for online sales, ensuring online pricing on par with offline stores, email marketing, etc. With their e-commerce strategy, they showed a perfect way for spreading out product launches and supported existing campaigns.

Competitive Landscape

The digital marketing software market in Australia is fragmented as the increasing demand for digital marketing solutions is driving the huge investments in the industry to develop new products and large technological companies are aggressively trying to acquire small tech companies and gain competitive advantage. Key players in the market are Swift Digital, Marketing Eye, Lounge Lizard, etc. Recent development in the market are -

• May 2019 - eBay Australia embraced an omnichannel approach to reaching its buyers by launching its first Australian paper catalogue which will also be a digital shoppable version of the catalogue online, which will be a brand building with a fresh brand-led campaign.

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