Marketing Automation liberates marketers and managers from following a monotonous schedule and repetitive tasks. A report suggests that more than 77% of CMOs at top global companies implement marketing automation in their daily activities to continually increase revenue. In this article, you will understand how marketing automation leads to increased revenue and what are the benefits of using marketing automation in your business.
1. Upgraded customer experience
One of the most crucial benefits of marketing automation is that it makes you deliver a better experience to your customers. Marketing automation can drive insights from consumer behavior, conversations, social comments, and create highly tailored campaigns to deliver across various digital and offline channels.
This includes customized emails, automated responses on social media, Facebook Messenger, Twitter, and more. This personalization creates a trustworthy brand on which consumers can rely anytime and every time. A report suggests that around 93% of companies have seen a spike in conversion rate by personalizing their marketing efforts.
2. Enhanced ROI on employee costs
Marketing automation decreases the requirement to employ people to do repetitive marketing tasks like managing accounts and posting social media posts. Automation allows you to streamline team activities and cut costs. Marketing automation also provides a reporting function, which makes the team more accountable and productive. All detailed reports are created automatically, and comprehensive reporting leads to planning better strategies.
3. 360 degree view of the customers
If you use a Customer Relationship Management tool (CRM), you can take your marketing automation to the next level. By integrating CRM, marketing automation tools can give you many insights into consumer behavior, manage personal allowance, track spending, insights of website and app usage as well as content categories they are interested in. These essential insights in the customer buying cycle can help you to create customized promotions to achieve high conversion rates.
Marketing is all about reaching out to new customers and retaining the old ones. One of the most vital revenue boosters is to achieve more spending by existing consumers and increase the customer lifetime value. Marketing automation is a savior to manage retention and loyalty strategies. It allows automating promotions to various spending segments and target custom campaigns if the subscriber becomes distant. By being relevant to your customer, you stay in a relationship post-purchase and let your customers cherish the brand value.
4. Generate more leads
Lead Generation is one of the core activities for any agency or company dealing in services. Automation provides you the opportunity to step between marketing and sales and provide your overall strategy a focal point and nurture leads on a real-time basis. This leads to more prospects and customers. When you use behavioral tracking methods to understand users’ paths on digital platforms, it creates an immense amount of insight into buying behavior. By following up and catering to customer’s specific needs will only lead to more sales.
Whenever a user starts the product discovery journey with a broad category, it indicates that they are at the beginning of the purchasing process and are researching between various segments. If they click and read a blog on a specific product, this indicates a narrow focus and is the perfect time to convert the lead. There are various touchpoints in the customer life journey which can be automated.
5. Data is the new oil
Marketing automation provides various outputs in the form of data, which is useful for qualifying leads before passing them to the sales department. Marketing automation can automatically categorize leads and send the information accordingly to the right sales representatives. This creates a seamless integration between the marketing and sales department.
By embracing big data and collecting intelligent touchpoints, you can provide detailed insights all on a single platform-based dashboard for all marketing automation platforms. You can measure campaigns, understand vital consumer behavior, and analyze budgets. You can also run A/B test marketing to understand what works for you, all backed up by strong data.
6. Synchronization of sales and marketing departments
As technology shapes how we work and interact with the customers, an active integration between sales and marketing is the need of the hour. The marketing and sales gap is getting shorter, and it requires efficient collaboration more than ever. The misalignment comes because of the outdated processes, time taking structures, and lack of communication. Fortunately, marketing automation helps to improve lead quality, increase revenue, and lesser follow-ups.
7. Predicting trends and shaping behaviors
The marketing automation pipeline makes use of machine learning technology, which can improve recommendations and interact with your customers to generate more data. With consumer automation, you can predict and shape what your customers will do next and encourage them to spend more by iterating the user experience of your digital footprints. This can spike demand, increase revenue, and drive conversions to improvise the ROI of your marketing efforts on an annual basis.
8.Measure success and lead
Most of the marketing automation tools provide reports on campaign performance, which is required to make strategic decisions. In a data-driven organization, advanced automation tools also apply machine learning and AI on historical data to forecast future campaigns. Since the rise of digital marketing, we now have a clear understanding of what works and what doesn’t in the consumer market. There are clear benefits to invest in a marketing automation stack, and above are just a few points to make you aware of these growth hacking tactics. These have always led to lower operational costs, provide a broader reach and scale, and delivers clear evidence of success of your invested time and money.
A detailed report by IronPaper, mapped down the reasons for using marketing automation according to B2B marketing executives worldwide.
- 82% of the marketers use it to improve lead nurturing.
- 76% use it to improve lead quality
- 74% use it to improve lead generation.
- 53% marketers use to increase sales revenue
- 48% of them used it to improve performance measurement
- And only 37% of them used to increase customer retention.