The growing adoption of analytics and mobility for customer communications management solution is propelling the Customer Communications Management Market growth. Customer analytics consists of the information and behavior of the customer to identify, attract, and retain profitable customers. To understand customers, customer analytics tools are used to study paying mode, purchasing trend, lifestyle preferences, and desired brands of customers who purchase products online.
According to the new research report published by The Insight Partners, titled Global Customer Communications Management Market to 2028 – Global Analysis and Forecasts by Function, Application, Form and Geography, The Customer Communications management market size is expected to grow from US$ 1,325.6 million in 2021 to US$ 2,752.4 million by 2028 at a CAGR of 11.4% from 2022 to 2028.
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The growing trend to deliver personalized communication to customers across channels is also fuelling the customer communications management market growth. Personalization of customer’s data that includes buying habits, preferred brand, and payment mode requires access to customer data via an integration with a cloud platform, leading to an enhanced customer experience. Furthermore, adding a personal feature to communication helps gain customer attention, which, in turn, propels the adoption of advanced CCM solutions.
The cloud-based platform is constantly evolving, wherein various organizations are adopting the CCM solutions integrated with cloud platforms, which enhances customer communications efficiency. SMEs emphasize enhanced customer interactions to add value to their product offerings. Thus, increasing adoption of advanced technology is accelerating the customer communications management market growth. Machine learning-based tools help enterprises process customer data efficiently and generate highly personalized offers to fulfill customers’ demands.
A tool that integrates Natural Language Processing (NLP) into a CCM solution provides a remarkable customer experience. Further, applying intelligence to content and optimization helps enterprises make better, interactive, and faster content. It helps discover areas where content consolidation or improvement can be performed, such as spotting similarities, duplicates, and inconsistencies, and outliers. It also provides recommendations to improve the content by making suggestions on style and highlighting areas that are inconsistent or associated with a negative sentiment. The NLP-driven CCM solutions provide better planning and coordination; increase operational efficiency; ensure seamless interaction via omnichannel; and offer a large, deep, and precise customer insight to produce better and relevant content. This will result in increased customer retention and revenue.
Crawford Technologies, Smart Communications, Cedar CX Technologies, Messagepoint, and Doxim Inc. are few other notable players that are profiled in this market study. Adobe, Capgemini, Newgen Software Technologies Limited, Open Text Corporation, and Oracle are the five key market players operating in the global customer communications management market.
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