CMSWire has an article that talks about a new report from Frost & Sullivan about the Marketing Automation industry. The report author said market revenues in 2013 were about $550 million and will grow to $1.9 billion by 2020. That’s a nice growth rate.
Three vendors accounted for 80% of the market activity in 2013: Eloqua, Silverpop and Marketo. I’ve blogged before about all the changes in the market with new entrants, mergers, and acquisitions, so 2014 will be interesting.
Several industry verticals are discussed in the report: Healthcare and Life Sciences, Financial Services, High Tech, Retail, and Manufacturing. We’ve seen strong interest in marketing automation in our Healthcare, Retail and High Tech clients. High Tech, Retail, Marketing Agencies, and Financial Services accounted for 75% of the market in 2013.
CMSWire included the following diagram showing the interactions of marketing automation and the sales funnel.
I think this is a good descriptive picture at a high level.
One constraint to the market described in the report is the steep learning curve for marketers to learn to effectively use the marketing automation platforms.
They are overwhelmed with the speed of conversations online.
