ON24 Named a Leader in 2023-2024 IDC MarketScape for Virtual Events Applications
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Insights
ON24's positioning as a Leader in the IDC MarketScape for virtual events applications is indicative of the company's robust offering in the digital engagement space. The emphasis on AI-driven content creation and intelligent metrics such as Net Promoter Scores (NPSs) signifies ON24's focus on delivering personalized and engaging experiences. This has become particularly important as businesses continue to rely on virtual platforms for B2B interactions post-pandemic. The ability to integrate with multiple systems of record through RESTful APIs enhances ON24's value proposition by allowing businesses to capture and utilize first-party data effectively.
From a market perspective, ON24's capabilities align with the growing demand for digital marketing solutions that provide measurable ROI. The integration with Marketing Automation Platforms (MAP), Customer Relationship Management (CRM) and Business Intelligence (BI) tools is essential for companies looking to streamline their sales and marketing efforts. ON24's offerings could potentially lead to increased customer satisfaction and retention, which are key drivers of long-term revenue growth.
The integration of AI in ON24's platform represents a significant technological advancement within the virtual events and digital engagement industry. The use of AI for real-time engagement analytics and content generation addresses a critical need for efficiency and personalization at scale. As businesses increasingly seek out tools that can provide a competitive edge, ON24's AI capabilities position it as a forward-thinking solution.
Furthermore, the ability to run both modest and highly customized virtual events through ON24's platform, with the support of RESTful APIs, indicates a high level of flexibility and scalability. This technical adaptability is crucial for businesses that operate in dynamic markets and need to pivot quickly in response to changing customer preferences or market conditions.
Recognition by the IDC MarketScape can positively influence investor perceptions and potentially impact ON24's stock valuation. As ON24 is identified as a leader in a market that is becoming increasingly relevant, it suggests that the company is well-positioned to capitalize on the growing virtual events trend. The focus on AI and the ability to create personalized content quickly for multiple channels are competitive advantages that could translate into increased market share and revenue growth.
In the long term, ON24's strategy to leverage AI for content creation and process streamlining may result in cost savings and improved margins. These factors are of particular interest to investors as they evaluate the company's potential for sustainable growth and profitability in a rapidly evolving digital landscape.
“The rapid growth of generative AI across platforms will continue. Early implementations are creating personalized content for users while the more advanced users will create personalized video content,” said Wayne Kurtzman, Research Vice President, Social, Communities and Collaboration, IDC. “ON24 is positioned in the Leader's category in the 2023-2024 worldwide IDC MarketScape for virtual events because it offers significant personalization, enables content to be created quickly for multiple channels and modalities, and leverages AI to generate written or video content creation and streamline processes.”
Additional ON24 strengths highlighted in the IDC MarketScape include:
- AI capabilities: ON24 uses AI for both content and intelligent metrics to enable real-time reaction and engagement, including NPSs.
- Integrations and APIs: ON24 easily runs modest or highly customized virtual events. RESTful APIs enable a wide array of functionality and allow for the capture of first-party data within systems of record while supporting versatile user experiences.
- Personalization: ON24 offers significant personalization, enables content to be created quickly for multiple channels and modalities, and leverages AI to generate written or video content creation and streamline processes.
- Perpetual engagement: ON24's new community event type is a significant addition, creating perpetual, face-to-face engagement within an already-robust marketing platform.
According to the report, “Consider ON24 if you want to make an impression on your audience; engage that audience before, during, and after the event; measure the details; and reuse content across platforms or when you just want to have significant creative options and strong metrics that integrate with your MAP, CRM, and BI tools.”
“AI is the most significant trend shaping business today and at the center of our platform innovation– powering a new era of intelligent engagement through personalized, connected and data-rich experiences that continuously drive engagement and deliver business results,” said Sharat Sharan, co-founder and CEO, ON24. “We are proud to be named a Leader in the IDC MarketScape, and believe this recognition underscores our commitment to helping customers unlock AI innovation, improve efficiency and fuel revenue growth.”
Read the IDC MarketScape report excerpt here to learn more about ON24.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About ON24
ON24 is on a mission to re-imagine how companies engage, understand and build relationships with their audience in a digital world. Through our leading sales and marketing platform for digital engagement, powered by generative AI, businesses use our portfolio of webinar, virtual event and content experiences to drive engagement and generate first-party data, delivering revenue growth across the enterprise – from demand generation to customer success to partner enablement.
ON24 powers digital engagement for industry-leading customers worldwide, including 3 of the 5 largest global technology companies, 3 of the 6 largest US banks, 3 of the 5 largest global healthcare companies, and 3 of the 5 largest global industrial manufacturers, enabling organizations to reach millions of professionals a month for billions of engagement minutes per year with all the first-party data being captured, generated and integrated from one place. ON24 is headquartered in
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IDC MarketScape: Worldwide Virtual Events Applications 2023–2024 Vendor Assessment, Doc #US50010323, November 2023
View source version on businesswire.com: https://www.businesswire.com/news/home/20240108446350/en/
Media:
Tessa Barron
press@on24.com
Investor:
Lauren Sloane, The Blueshirt Group for ON24
investorrelations@on24.com
Source: ON24
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