Market automation is a technological process that streamlines as well as provides visibility into the marketing activities of a business. It is an assortment of tools, processes, and workflows, where the tools are used to automate the commonly repetitive tasks. While marketing automation is highly important in producing and nurturing new leads, for long-term business engagement it can be costly for your business without initial proper implementation. It is considered an excellent practice for your market automation to be infused into the sales and marketing processes to optimize a buyer’s journey from potential customers to loyal clients.
A study projects that the market for market automation will grow by 3.3 billion USD to 6.4 billion USD in 2024. The driving force for this growth is the increase in demand for personalized advertising, the urge to keep clients for the long term, and the use of predictive analytics techniques to understand customer behavior.
To help you understand how to market automation could be a lifesaver for your business, below are seven key points:
Marketing automation helps shift your business focus to only the most essential aspects. For instance, once you create content for marketing campaigns, the technology takes care of all the other activities automatically. The burden of grappling with social media posts from one platform to another is eased, so you can easily schedule posts to be published to these social media sites based on need.
With the ever-changing needs of the customer, everyone wants to be ahead of the game by obtaining customer loyalty. Achieving customer loyalty in the long term is a grueling task unless you can leverage analytics to understand customer dynamics, such as predicting their new likely interests. Automation makes businesses smarter in retaining customers, as most small companies are always on the lookout for new customers while continually losing existing ones. Once you understand the purchasing behavior of customers, it will be easy to align your marketing strategies with their respective interests.
Below are ways you can increase customer loyalty:
- Sharing Company Content – You can share company content from your company sites such as blog posts and videos. When done on time, it enhances chances of customer retention, for instance, by helping them have optimum use of their purchases through user guides and new product features.
- Request Feedback – One other way that market automation maintains customer loyalty is by requesting feedback. However, it is essential to note that feedback should only be required when appropriate to do so to reduce the chances of being a bother to the client.
Market automation has an embedded metric for understanding marketing efforts, and this helps you continuously measure success through market optimization. Insightful analytics from marketing data streams will help you perceive the performance of your marketing campaigns. Once you can clearly understand the nature of engagements, you can further follow up on new customer streams, as well as fine tune the marketing campaign to align with changing client needs. Tracking will help you make better-informed choices on what should be improved and what should be discarded.
Market automation, when optimally implemented, will help you increase sales through new leads generation. These leads mostly come from website visitors, new engagements, and exciting insights from predictive analytic tools. It is therefore prudent to capitalize on such insights to achieve a long-term return on investment (ROI).
5.Aligning Marketing and Sales
Another critical factor that will enable marketing automation to achieve long-term business goals is that you can align your sales and marketing activities. An enhanced collaboration where marketers—in their effort to provide a personalized market experience—also presents valuable information to the sales team, helping them craft important communication for sales closure. This kind of collaboration will lead to a much-shortened sales cycle, based on proper profiling of potential clients and working towards fulfilling their buying anticipations.
Marketing automation provides visibility into your marketing activities and an environment that enables you to track engagement and optimize campaigns. You will ultimately reduce your marketing cycles, which later transforms into increased revenue for your company.
Any automated process reduces the cost of manual labor in terms of staff or contractors for the same tasks. What this means to your organization is the availability of a pool of funds that can be plowed back to improve front-end business processes.
Marketing automation is worth the financial investment as it will help your business achieve your long-term goals in the long run. With improved visibility into your marketing activities, you can realize high sales turnover through the faster decision making and proper planning. Finally, you will be among the few companies setting the pace for the rest to follow.