In the hyper-competitive world of modern marketing, businesses need to make use of advanced technology to gain an edge over the competition.
Marketing automation is one of the most popular ways to do this. In the last 5 years or so, adoption of marketing automation tools and software has increased 11x among B2B marketers.
It’s estimated that around 49% of companies are currently using marketing automation to streamline their sales funnels, increase the quantity and quality of the leads they generate, and to drive conversions.
What Is Marketing Automation?
Marketing automation is, simply, any automated marketing strategy designed to gain and nurture leads through advanced software and marketing tactics.
Using programs provided by companies like HubSpot, marketers set up custom campaigns designed to help channel leads through the “sales funnel”. These campaigns provide leads, prospects, and customers with valuable, informational content related to your company and its services.
This content drives conversions – and when implemented correctly, a lead can be converted into a prospect without any human interference at all. This leads to massively increased profits for companies who use marketing automation, and a very high ROI on marketing automation systems.
There are also a few common misconceptions about marketing automation – so let’s look at those now.
Marketing automation is NOT:
- A fancy term for email marketing – While email remains one of the most popular methods to convert leads, a comprehensive marketing automation solution will be working for you across social media sites, direct mail initiatives, phone campaigns, and even your own corporate website.
- An excuse to “spam” customers – Some people use marketing automation to send useless, low-quality information to customers. However, this is counter-productive. Unless you provide customers with valuable information, they will simply ignore you.
- A way to market without effort – When setup correctly, marketing automation can be very cost-efficient. But to truly create a brilliant marketing automation campaign, you will need a comprehensive strategy that’s customer-focused and uses the right channels, data, and processes to be successful.
Now that you understand what marketing automation is (and isn’t), let’s take a look at some of the benefits of using marketing automation in your business.
What Are The Benefits Of Marketing Automation?
There are a huge number of advantages to marketing automation – but let’s just focus on the 3 most important benefits.
- A larger sales pipeline – When you have more leads, you make more sales. It’s just that simple. Marketing automation allows you to play the “numbers game” and draw in a higher-volume of productive leads. It’s estimated by eMarketer that a smart marketing automation strategy can increase marketing-sourced leads by up to 150%.
- A more productive sales team – Marketing automation brings high-quality, pre-screened leads right to your sales team. This larger sales pipeline means that your sales team can spend less time sourcing leads and more time selling. In a study by DemandGen, it was found that the majority of companies using marketing automation increased their sales by 10% or more.
- Higher revenue – You probably saw this one coming. More leads and a better close rate means that your company can enjoy higher revenue and increased profits.
Now that you’ve gotten some insight into the benefits marketing automation can have in your business, it’s time to take a look at the most important aspects of a successful marketing automation strategy.
What Are The Keys To A Successful Marketing Automation Strategy?
While there are numerous keys to success in the world of marketing automation, we’ll keep thing simple and focus on the two most important aspects of marketing automation.
- Be prepared to work hard – Using marketing automation isn’t like waving a magic wand. You can’t expect to boost sales simply by automating your marketing processes. You have to take the time to build up your lead generation and marketing efforts and truly connect with your customers. If you can do that, your marketing automation campaign will have incredible results.
- Focus on your customers – Sometimes, marketers lose sight of the real, live person at the receiving end of their promotional materials. But marketing automation is all about creating a genuine connection. To create this connection, marketers must understand each individual customer profile, and use this information to nurture them based on their own unique needs, interests, and desires.
If you understand these two principles and use them to guide your marketing automation efforts, you’re sure to find success.