An audience, i.e. a collection of people, which businesses want to reach can be tracked or managed. Audience management has facilitated identification of target customer base, thus minimizing the marketing expenses of organizations. Managed audiences targeted through marketing initiatives drive more sales than unmanaged audiences. Audience management market helps achieve higher customer traffic and increased conversion rates. Audience management utilizes technology to identify the customer base in order to deliver the business’s marketing communication. Identifying the customer’s needs and demands allows businesses to improve their relationship with customers and potential customers. Internet penetration has made marketing management possible and has also become a vital aspect for businesses. Audience management market can be achieved by different marketing channels such as display, email, etc. Audience management solutions centralize all marketing data and build targetable audience profiles to increase effective marketing efforts.
Presently, audience management market has become possible as large amount of data is collected from the customer. Online stores and non-commercial sites collect customer information through registrations, and this information is then used for targeted audience management. Audience management solutions are generally integrated with broader solution platforms. For instance, audience management solution can be provided as part of data management platforms (DMP). DMP provides audience data in order to enable precise targeting and analytics that facilitate smarter optimization decisions. Audience management solutions collect audience data based on specific behavior, such as download, search, click, video upload, video completion, and various interests such as sports, football, beauty, health, parenting, travel, etc. This data is then employed to better understand the audience, create effective RFP responses, and extend audience reach to address campaign commitments.
Breach of security of customer’s data is a major challenge facing the audience management market. Private data marketplaces, also known as 2nd-party data, co-ops, or syndicated data, are becoming mainstream in connecting the demand and supply side in the audience management market. Publishers are commercializing their audience data and allowing advertisers to build and activate against rich and unique audience data sets. Market is continuingly undergoing technological developments. For instance, currently, connecting room via mobile and cloud with the presenter has become possible for live management of audience. Audience management platforms blend mobile and cloud technology. Facebook’s audience targeting capabilities has allowed marketers to reach the right people.
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The global audience management market can be segmented based on component, organization size, end-use industry, and region. In terms of component, the market can be classified into software and services. The services segment can be further bifurcated into professional and managed services. In terms of organization size, the audience management market can be segregated into small & medium enterprises (SMEs) and large enterprises. Based on end-use industry, the audience management market can be categorized into retail, consumer goods, banking, financial services, and insurance (BFSI), IT & telecom, media and entertainment, travel and hospitality, government, healthcare, and others. The retail segment is expected to drive the audience management market during the forecast period.
Based on region, the global audience management market can be categorized into North America, Asia Pacific, Middle East & Africa, South America, and Europe. Audience Management Market in Asia Pacific is fueled by increasing internet penetration and the region offers a great opportunity to the market. North America accounted for a prominent share of the global audience management market.
Key players operating in the audience management market include Google, Inc. Fusion92, Lotame Solutions, Inc., Oracle Corporation, Triton Digital, Akamai Technologies, Inc., Adobe, Inc., Cxense, Kenshoo Ltd., comScore, Inc., and Merkle Inc. Audience Management Market is fragmented and established companies are engaging in mergers and acquisitions to gain additional capabilities and market share. Leading players have integrated audience management solutions in their software suits/platforms and witness high demand in the market.
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