Higher ROI (Return on Investment) and faster growth at a lower cost are a common ambition of all organizations. But most organizations fail at aligning their people, processes, and technology to achieve these goals. Thus, they find themselves losing at the top two indicators of success, i.e., conversions and ROI.
Then what should be the next step?
Well, it’s time for the marketing team to advance themselves and implement Marketing Automation to rule out any chances of failure. Marketing automation enables organizations to streamline, automate, and monitor marketing workflows to increase operational efficiency and higher ROI even before the stipulated time.
Automation solutions are designed to take marketing to the next level allowing organizations to leverage multiple channels of marketing effectively by automating repetitive tasks. It enables many modern marketing practices, like lead generation, lead nurturing, relationship marketing, retention, return on investment (ROI) measurement, and account-based marketing (ABM).
The best part about marketing automation is not just for large and mid-level organizations. It is beneficial for small online businesses, entrepreneurs, digital marketing firms, etc. We will explore all the areas and ways marketing automation can benefit companies and ventures of all sorts. So, without delaying any further, let’s get started-
- Future of Marketing Automation – As per Report Linker, the marketing automation market was estimated to grow at USD 3.60 billion in 2020 and is estimated to be USD 11.46 billion in 2027, registering at a CAGR of 17.76% through the forecast period. Marketing automation is the future because it streamlines your marketing efforts, eliminates human error, and helps you achieve more than expected ROI. There is more time left for the organization’s marketing folks to focus on more strategic tasks such as planning, goal development, conducting market research, establishing a brand reputation, monitoring KPIs, and more. But there is more to the picture, so let’s not get intimidated by the trailer and explore the bigger picture. Here are some more advantages and ways in which automation can improve the marketing ROI-
- Strengthens marketing performance – tasks like email scheduling, segmentation, data management, audience targeting get well-organized with automation. This results in reduced time, effort, and ultimately costs. It eliminates the differentiating factors between smaller marketing teams and larger ones. Now marketers can focus more on planning their campaigns through deep market research and innovative ways to connect with the prospects and retain long-term clients.
- Builds long-term client relationships –As essential to convert leads for the marketeers, forming long-term client relationships is equally important. Marketers can conveniently monitor customers’ online behaviors and actions with automated marketing software. In addition to commonly followed customer data, like demographic information, backgrounds, businesses, and industries, it also answers plenty of the questions like what channels and content they are going through, their email marketing strategies, etc. Such extensive and deep insights empower marketers and help them plan future actions.
- Aligns sales with marketing for better ROI – Traditional marketing tactics have failed to align with the sales due to incompetent inter-organizational communication flow. This leads to disengagement between strategy and implementation. Marketing automation eliminates this gap between sales and marketing and aligns them like never before. Through this, marketers get more acquainted with the sales pipeline and allow the sales team to understand the impact of marketing strategies. It becomes critical for an organization’s sales and marketing domains to collaborate, and the effect is seen in the ROI.
- Segment the clients for easy targeting – Client segmentation is crucial to assure better results in reduced time. Other than helping get early results, it also saves a lot of resources and money getting wasted. Automated marketing software is best at segmenting clients under multiple business metrics. This refines the task of targeting and streamlines the whole process. Further, marketers better understand each client’s need and can thus plan their campaigns accordingly.
- Helps in conducting comprehensive and targeted campaigns – Marketers usually plan their activities around campaigns but still lack somewhere or the other. Organizations need to run comprehensive to get optimum results in such a competitive era. Only automation can make such extensive campaigning possible. It will help the marketer target the best clients and suggest a possible move forward. By using personalized messaging and emailing, it guarantees a long-term business relationship with each of the prospective clients.
Wrapping up –
Enhancing marketing performance, improved data management, more close teamwork between marketing and sales guarantees better lead generation and management. With a higher quality of leads, higher ROI is promised.
But to derive maximum benefits out of marketing automation, the right business processes need to be adapted. So, to successfully implement marketing automation and deliver fast ROI, you need a broader and future-oriented vision.