The global customer advocacy software market is estimated to grow at a significant CAGR during the forecast period. Customer advocacy software can be referred to as referral marketing software that supports a company’s sales and marketing. It allows a company to strengthen social proof from existing loyal customers. The shift of marketers and businesses towards a customer-centric approach and the focus on providing complete customer experience further propels the growth of the market. Through customer advocacy software solutions, the companies can cut costs while improving the customer experience comprising sound social media strategy. In addition, e-commerce is playing a significant role in the market by encouraging and asking for reviews of the purchased products. 

The rise in adoption of the cloud-based services is one of the major factors augmenting the growth of the global customer advocacy software market. Cloud computing refers to the on-demand access of data and programs from a centralized pool of resources. Rising adoption of the cloud platform is attributed to the faster deployment of new capabilities in enterprises. The demand for cloud-based services among enterprises has been growing significantly in the developed economies across the globe. However, certain factors play a significant role in impeding the market growth. This includes the uncertainty to manage the customer experience data gathered from various domains.

Segmental Outlook  

The customer advocacy software market is classified on the basis of deployment type and application. Based on the deployment type, the market is bifurcated into cloud-based and on-premises. Based on the application, the market is segmented into advocate management, reporting/analytics, and rewards program.  

Global Customer Advocacy Software Market Share by End-user, 2018 (%)

Global customer advocacy software market to be driven by its rising deployment of cloud-based infrastructure

The cloud-based segment is estimated to project a considerable CAGR during the forecast period. The cloud-based customer advocacy software offers flexibility, cost-effectiveness, easy accessibility, better efficiency, reliability, and ease of use. As a result, the enterprises are shifting toward cloud platforms to engage customers in the brand. Various factors can influence the adoption of cloud-based customer advocacy software by SMEs (small and medium enterprises) such as organization characteristics, competitiveness, and management strategies. Several companies in the market are offering cloud platform for customer advocacy software, including Blackbaud, Annex Cloud, and Salsa Labs, Inc. The rise in the adoption of the cloud-based platform in enterprises is augmenting the segmental growth of the market.

Regional Outlook 

The global customer advocacy software market is classified on the basis of geography, including North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to project a considerable CAGR in the global customer advocacy software market. The major countries which contribute to the Asia-Pacific market growth include China, Japan, and India. The factors that are contributing significantly to the market growth include high expenditure on ICT infrastructure and e-commerce sector. 

Global Customer Advocacy Software Market Growth, by Region 2019-2025

North America contributes a remarkable share in the global market

North America contributes a significant share in the customer advocacy software market. The growth of the region is being primarily driven by the well-developed IT infrastructure of the US. In addition, the presence of the high number of enterprises in the region, particularly in the US further boosts the growth of the global customer advocacy software market in the region. For instance, as per the Organization for Economic Co-operation and Development (OECD), there were around 34,000 enterprises in the US in 2017. The growing number of enterprises raises the demand for hardware; thereby the companies are widely adopting customer advocacy software to improve their product offerings.

Market Players Outlook

The companies which are contributing to the growth of the global customer advocacy software market include Annex Cloud, Blackbaud, Inc., Influitive Corp., VMware, Inc., Zuberance, Inc., and OneClickPolitics, Inc. These market players are adopting various strategies to capitalize on market opportunities. Mergers and acquisitions, new product launch, geographical expansion, partnerships, and collaborations are some of the key strategies adopted by the market players. For instance, Bolstra, LLC signed a partnership agreement with the Customer Success Association (CSA) in August 2019. Through this partnership, the company will entail relevant information about the customer success profession and connects people for networking, learning, and conversation. This will assist the company in the expansion of its footprints in this emerging market.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global customer advocacy software market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.