Marketing automation takes the ‘people factor’ out of workflows so you can do more, in less time.
It covers everything, from email marketing, landing pages, forms, campaign management and engagement marketing, through to predictive scoring, customer lifecycle management, CRM integration, marketing analytics, and social and mobile marketing.
Marketing automation works for businesses of all sizes, both B2B and B2C, and puts those who use it at a significant advantage over their competitors. Over two-thirds of small businesses classified as ‘top performing’ use marketing automation, meaning they are seven times more likely to use it than a small business ranked as ‘average’.
How exactly will marketing automation give your business a similar advantage?
The benefits of marketing automation
One. You will increase the number of leads. Because marketing automation lets you track web pages viewed, emails opened, forms filled and links clicked, you gain great insight into your customers’ buying behavior. That allows you to ‘nurture’ them, through specifically targeted content, and the resulting uplift in qualified leads can be significant, as much as 450% according to SoftwareAdvice.
Two. You will achieve better conversion rates. A study by eMarketer found that B2C marketers who used marketing automation got conversion rates as high as 50%. That’s because, by using marketing automation to score leads, maximum effort can be directed at those most likely to do business with you.
Three. You will improve revenues from existing customers. Small businesses using marketing automation tend to get half their revenue from existing customers as against just 30% for those who don’t. For you, that means less time and effort going into finding new ones.
Four. You will enjoy greater productivity. Nearly all organizations say they benefit in some way from marketing automation. According to Nucleus Research, marketing staff can expect their productivity to go up by as much as 6.9%, and sales productivity to go up by an average of 4%.
Five. You will save time. This is often seen as the greatest benefit of marketing automation. You will also save money, whether that’s through having fewer people involved in marketing and bringing activities in-house rather than outsourcing to third parties, or by enabling more transparent compliance, if you are in a heavily regulated sector.
Six. You will shorten your sales life cycle. By creating marketing campaigns that are automatically triggered by a potential buyer’s interaction with your website or emails, you can considerably cut the time from first contact to qualified lead and then sale. No more having to pick up requests and respond. Marketing automation does all that for you.
However, for all its power, you can’t just sit back and watch marketing automation happen. To work properly, it needs to be part of a greater strategy that integrates processes, people, content and data so as to maximize returns, just as with all other digital technologies.
But knowing where to start or how best to go about it, isn’t always easy.
What’s your Digital Index?
Not surprisingly, given its benefits, most companies who use marketing automation successfully are happy to increase spending on it. But how should it fit into your overall digital strategy? To help you identify what ought to be your next digital step — marketing automation or something else — we created our Digitalization Index.