The desire of businesses and organizations to grow and touch new heights of profitability on low cost is possible with marketing automation. Marketing automation aids companies to improve their operational efficiency and improve revenue faster on basis of streamlined, automated and measured marketing tasks, and workflows. The process automation efforts taken by a company improves operational efficiency and revenue in overtime.
Marketing automation software is consisted of various business methods like lead generation, segmentation, lead nurturing, scoring, relationship marketing, cross-sell and account based marketing taking place simultaneously in sync with each other. According to some market surveys, automation technology is expected to grow at the 14% compounded annual growth rate (CAGR) during the next five years. The expected growth rate “through-channel marketing automation” will rise at 25% annually with the help of lead-to-revenue automation phenomenon at 19.4% percent.
How Marketing Automation Resolves General Business Issues?
Automation is of great help and assistance for the marketers that faces problems in dealing with unqualified lead tracking. Automation helps in scaling personalized and targeted communications while scaling into sales and leaving effectiveness. The most common problems of a marketer that a digital marketing agency with the help of automation can resolve are:-
Make Overall Lead Generation Process Faster
I need to do more with less. In a fast-paced digital environment, marketers feel pressure to do more with less: They need to generate more leads, grow revenue, and close deals faster. Once one program is finished, another follows immediately. Marketing automation frees up marketers’ busy schedules with automated tasks, so they can focus on more strategic work and let the software do the rest to manage leads.
Helps to Track User Engagement
I don’t have a way to track or optimize user engagement. Tracking user engagement is essential, and marketing automation allows you to capture, track, manage, and score leads coming in the funnel environment for the creation, management, and automation of marketing processes and conversations across online and offline channels. With this in place, you’ll be able to better optimize your programs and better demonstrate the ROI of your efforts. Utilize retargeting and recirculation to optimize engagement and connect with the buyer. Marketing automation provides an easier way to provide the right content to the right person on the right platform, where they are open to engaging with you. MarketingSherpa says 68% of B2B companies will use landing pages to nurture new sales leads for future conversion.
Make Sales Funnels More Productive and Effective
My leads aren’t converting, or I have a leaky sales funnel. 61% of B2B marketers say that generating high-quality leads is their biggest challenge, according to the B2B Technology Marketing Community. Dealing with leads that aren’t converting or a leaky sales funnel is frustrating, but can be fixed. Marketing automation allows you to nurture prospects with relevant and useful information across multiple channels until they are ready to buy. Done well, nurturing can result in 50% more sales leads at 33% lower cost per lead.
Target Audience Identification
My leads aren’t qualified. Marketers can’t focus on just top-of-funnel lead generation and awareness-building strategies—they also need to make sure these leads are a good fit for the company. There’s no point in increasing lead generation if the leads have no possibility of converting to sales. Marketing automation helps you better understand your prospects and buyers. You will be able to personalize each individual buyer’s journey from the first touch to the sale and beyond, with marketing data and analytics, lead nurturing, and lead scoring capabilities.
Different Business Areas Benefitted by Marketing Automation
Process centric edge by marketing automation is offered to an operating business especially, when, it is an eCommerce in following areas:-
- Centralized Database: A place for all your marketing data, such as detailed prospect and customer interactions and behaviors. You can segment and target the right message to each customer. Think of this as a “system of record” for all your marketing information.
- An Engagement Marketing Engine: An environment for the creation, management, and automation of marketing processes and conversations across online and offline channels. Think of this as the “orchestra conductor” for your customer interactions.
- An Analytics Engine: A way to test, measure, and optimize marketing ROI and impact on revenue. Think of this as the place you go to understand what worked, what didn’t, and where you can improve.
- A MarTech Stack: Automation collates all of the effective, collaborative, and scalable marketing applications that you need to help you achieve your goals. Think of this as the main place where you can use tech to stay connected to your buyers and deliver marketing-sales alignment.
Thus, it is apparent that above mentioned component and features of marketing automaton helps a business to have a far better and qualified business leads with improved business ROI (Return on Investment).