Marketing automation is expanding at a fantastic rate and in 2019 had a market of $6.1 billion, according to statistics. It is an essential component of digital transformation that every business must initiate now to stay relevant in the future. This technology is likely to become more popular because of its usefulness to any company. Marketing automation, in simple terms, is a technology that helps in managing marketing processes and different kinds of campaigns across various channels. It sends automated messages to targeted customers via emails, social media, and text messages.
Adopting marketing automation has helped marketing departments to initiate contact with possible customers with the least effort. However, marketing automation has more functions that businesses use to their benefit. In the long run, these can help your company in expanding its horizons and improving sales, by bringing in agility for the marketing functions. However, keep in mind that marketing automation has to be implemented correctly right from the start if you wish to reduce its cost factor. Ideally, sales and marketing should be infused with marketing automation to ensure that potential clients are converted into long-term customers fast.
Marketing automation offers several other benefits to any company when used for several years. Here’s what you can get from it:
- Time-saving: Reaching out to customers and keeping them in the loop regarding every product launch, its benefits, and other information can be time-consuming. But with marketing automation, you have to create the marketing content and leave the mailing and social media posting part to this technology. Just schedule posts for publication across social media sites and devote the time to other company activities.
- Creating loyal customers: It isn’t easy to retain customers because of the competitive market and changing interests. Marketing automation helps you stay ahead in the game while you understand the changing dynamics of customer requirements. Understanding the purchasing behavior is a crucial part of improving sales and staying ahead of your competitors. But once you have bagged why and what people want, you have to change your marketing strategies to suit their interests.
Some of the best ways of retaining customers is sharing content that helps them to utilize the purchased products fully. For instance, user-guides are valued by most buyers as well as information regarding product features. Sharing such content through company sites makes customers feel valued and creates a sense of loyalty and trust. Asking for feedback is another marketing automation tactic that ensures customer loyalty. Even though feedback is essential, it should not be a bother to the customer.
Lead generation is an essential step for increasing sales. When properly implemented, marketing automation can generate new leads mainly through website visitors or inputs from various analytical tools. It brings together the process of lead generation and gives results. It starts with converting visitors into possible leads and then gradually nurturing them till they are ready buyers of the products. By identifying the qualified leads using a scoring model, marketing automation allows the sales team to focus its attention on productive work and give better results. The mechanism also identifies cold leads and works on them using emails and targeted, personalized content to make them sales-ready.
Lead generation is a prime motivation behind marketing automation. 61% of marketers agree that lead generation is their main goal, with 57% said they also use it for lead nurturing.
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Tracking and monitoring
The embedded metric system present in marketing automation is handy for tracking and monitoring the marketing efforts. The data streams, when analyzed offer insight into the automation techniques used. Marketers can then fine-tune those to suit the company’s sales requirements or even the needs of the client. Tracking is beneficial for the company in making informed choices.
Brings marketing and sales on the same page
These two departments need to work hand-in-hand in any company to serve long-term goals. Marketing automation offers useful information regarding buyers which can be effectively utilized by the sales team to reduce the sales cycle. Proper profiling of customers enables the organization to provide products based on requirements. Such a collaboration improves the revenue earning capacity of the company.
Improving Return on Investment
Marketing automation is useful for optimizing sales campaigns and various marketing activities. They tend to create more pipelines from the marketing process, which leads to more sales and naturally more revenue. What follows is also a reduction in the marketing cycles and enhanced company revenue. Statistics show that companies with marketing automation are likely to grow faster than those without the same technology. Most companies see a marked difference in their ROIs in almost a year. The rate of the ROI increase depends on how long the mechanism has been in place and how well the company has adopted it for achieving its goals.
The best thing about automated processes is the cost reduction. Marketing automation helps in utilizing the internal sources and cutting down on the outsourcing of work. Many automation software comes fully equipped with a content idea, templates, and other components that help in cost reduction. Saving on workforce costs can help the company utilize its funds elsewhere.
The marketing database is an essential resource for any company. Duplicate entries and incorrect data often get enlisted over time. Clearing this clutter is one of the tasks performed by marketing automation, especially if it is added with the CRM of the system. So, you end up saving funds on cleaning the database rather than outsourcing the same to agencies.
Investing in marketing automation is beneficial for any company which plans to achieve its business plans in the long run. The agility & clarity it offers help in improving the sales turnover by taking faster and proper planning.