Marketing has changed significantly over the past 10 years as we continue to shift to all things digital marketing. Seemingly every day, there is a new tool or technology that businesses feel the need to add to their disposal.
This, however, causes many to feel overwhelmed by the sheer number of avenues one can take to get to the same goal: increase revenue and maximize efficiency. While attempting to increase revenue, efficiency begins to crater and the company suffers in the long run.
Enter Marketing Automation.
Marketing automation is technology that automatically manages marketing processes and multifunctional campaigns across multiple avenues and channels. Learn more about marketing automation ROI and why marketing automation presents a great opportunity for businesses of all sizes:
Marketing Automation ROI
According to Startup Bonsai, marketing automation ROI is $5.44 per every dollar spent over the first three years. If you spend $10,000 for marketing automation, expect to see a return of over $50,000.
Here’s some more information:
- Businesses recover the cost of their initial investment in marketing automation in under 6 months, on average.
- Marketing automation ROI is driven by increased sales productivity, increased campaign efficiency, better prospect engagement, and cost savings.
- Marketing automation increases sales productivity by 14.5% and reduces overhead by 12.2%
What is Marketing Automation?
With marketing automation, businesses can be much more precise with their automated messages across their website, email, SMS messaging, social media, and more. Messages are sent according to details and criteria that you, the user, set up. These are often called workflows or automations.
Marketing Automation isn’t just targeted messaging, though. It’s the integration of most if not all of your sales and marketing channels with the idea of increasing revenue and achieving maximum efficiency. A major benefit of integration and automation is to make your communications with your customer smarter while allowing your team to spend more time on other items that drive revenue.
Here is an example:
You have a lead generation campaign that offers a webinar in exchange for the customer’s email address and additional information. Once you capture their email address, you offer the customer the webinar. In a day or two, sometimes even an hour or two, you will send an an additional email about the same subject.
In this email, you may provide additional links or a CTA to get the customer to move to the next stage of your sales funnel or pipeline. Once the customer does the action you are hoping for, this would automatically move them to the next stage of your sales funnel, add a note to their account/profile in your CRM (Customer Relationship Management), add a task for a human to follow up, send a text message, send another email or so much more.
This whole process, if done manually, eats up time and energy from your team. Time is money. Automating items that occur often allows for maximum efficiency. Marketing automation helps with lead generation, nurturing, lead scoring, as well as with measuring overall marketing ROI on campaigns.
More information on Marketing Automation
Marketing automation is a set of tools created to streamline and simplify the most time-consuming to-dos of today’s marketing and sales activities. From automating the lead qualification process to creating a hub for digital campaign creation, automation is all about simplifying a business world that is growing far too complex, much too quickly.
Marketing automation lets you implement a digital marketing strategy without having to manually press a button on each and every email, campaign, message, etc. you create. Ideal automation tools help you identify your customers, design the right content, and automatically trigger certain actions based on customer behavior and trends, allowing you to focus on other tasks that you deem valuable for a human. A good automated marketing strategy saves time and resources, driving revenue and marketing automation ROI while you focus on other aspects of growing your business.
Who can use Marketing Automation?
A common misconception with marketing automation is that it’s only for large-sized businesses. Once businesses hear this, only the major players will be involved and will succeed, leaving behind medium and small-sized businesses.
It doesn’t matter if you’re a B2B, B2C, small, medium, or large-sized business – you can receive a killer marketing automation ROI if you invest the correct way.
Marketing Automation Statistics to Consider
These statistics are according to 99 firms:
72% of the most successful companies utilize marketing automation for their business, according to HubSpot
This number is going to hit in the 90’s in the next 1-3 years. Marketing automation is the future, and the world is going to move in this direction very soon. You may feel like you missed the boat, but we’re still early in the process. Even if you’re a late adopter, you will eventually need to dip your toe in the marketing automation water. Why wait?
80% of companies saw an increase in leads through marketing automation. (Invesp)
Everything increases with marketing automation including lead generation. Why? You’re enhancing the customer journey by delivering content to potential leads at the right time to churn them through your sales funnel. Establish your sales funnel, build out your strategy, and watch the leads come in droves.
Marketing automation doesn’t just improve leads. 77% of companies saw a rise in conversions through automated lead nurturing. (Invesp)
Understand your marketing automation ROI by way of conversions. How do you know if something is working or not if you aren’t tracking? Nearly 80% of companies saw a rise in conversions through developing their sales funnel, understanding the stages, and building out what works for them.
Why you should add Marketing Automation to your business
As a business owner, you know that there are many areas to fill in today’s digital age of marketing. You feel the need to be on every social media platform. You feel the need to be involved with SEO. You feel it’s necessary to do email marketing. You want to be able to take notes or add tasks in a CRM but you’re not sure which platform to use.
There’s just too much to focus in on and that’s where marketing automation can help fill the void in your organization. Drive revenue and maximize your efficiency through a robust marketing automation strategy.
Are you interested in an intuitive and dynamic marketing automation system? We can help.
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