Marketing automation is now the new normal for businesses who aim to streamline their daily routine process – email marketing being first – and get great ROI.
In recent times, it has emerged as one of the platforms that provide beneficial business tools to automate marketing campaigns for fast and excellent results.
According to Act-on and Econsultancy, around 53% of B2B brands are currently using marketing automation, and 37% plan to leverage it in the future to further win more qualified leads.
By 2023, its spending is expected to grow to a whopping $25.1 billion and in the coming years, the cost is definitely going to grow much higher.
However, marketing automation is multi-faceted and requires a richer level of understanding to properly implement, avoiding any mistake. Without proper guidance and correct approach, you could eventually lose money or fall flat on some of the core functions.
In this post, Hanna Schnaidar shares actionable insights on the best ways to approach marketing automation, making the most from it….while staying within the estimated budget.
But Why Marketing Automation: What is in it for me?
Primarily, the goal of most marketing automation tools is always to generate and nurture leads till they become sales qualified. It’s built around technologies and software platforms for marketers to manage their digital channels and automate their routine activities.
That’s why you will notice that most existing marketing automation platforms basically does three things:
- Email marketing
- Visitor tracking
- Contact database for marketing
Added to these core capabilities, the providers sometimes differentiate by offering extra tools at scaling prices based on functionality or the size of the database.
So do you really need automated marketing?
To answer that question, we need to dig into the reasons why you may want to leverage this tool for your business. There are several pointers to this, however, you know you need marketing automation when.
- Your lead nurturing practices is not converting
- You find it hard to connect activities with trackable metrics
- You don’t generate enough sales and leads via your website
- Your email campaign is still being done manually
- You need more qualified leads
- You want to understand your prospect better and so on…
As mentioned earlier, marketing automation saves time and helps streamline your routine processes.
For instance, beginning with email marketing gives your business a chance to respond to prospects faster and deliver the message at the time they need it most.
Additionally, automating your digital marketing processes allow you to quickly expand your social media presence.
3 Common Mistakes Of Marketing Automation That You Need To Avoid
Here are few common mistakes that you want to avoid when implementing marketing automation for your business
#1. Poor Understanding
The common reason for the failure of most marketing automation projects is the lack of proper comprehension of the required functionality.
If you manage to take your eyes off this, your funds may suffer, as this may lead to either overspending or understanding when you’re about to choose your marketing automation software.
These two are both hazardous to the success of your marketing campaign. For instance, underspending on your marketing automation projects could abruptly cause a leak or deficiency in the functionality that could be quite essential for your marketing needs.
Therefore, you need to properly understand what you want. You want to make sure your marketing automation isn’t jammed up with your content marketing and social marketing strategy.
Reach out to our experts at Forty-Seven Software Professionals for more clarity on this.
#2. Attempting to sell, instead of nurturing
As clearly stated at the beginning of this post, marketing automation is not aimed at selling, it’s to help nurture the leads until they are sales qualified.
But rather than obeying this, some organizations are still reverse-engineering the age-long method of promoting products. That’s the reason why 85% of marketers are not getting real great result from their marketing automation.
You need to realize quickly that customers are naturally averse to selling and they won’t buy your product just because it’s great. Educating your leads and lead nurturing are the important aspects that help move people from one point to the other in their buying journey.
For instance, you wouldn’t promote your products or services to someone still in the awareness stage.
Instead, you’ll send them ebooks, articles, whitepapers, or courses that will help educate them. It’s essential to know the content to send to them at every stage in the buyer’s journey
#3. Having No System For Experimentation
While it sounds quite reasonable to want to focus on the important aspects of your business – content marketing, social media marketing, SEO, etc. – it’s totally wrong to not have no process in place for experimentation.
Marketing is a lot like science that needs experimentation regularly. In this fast-paced world, people’s behavior is changing so quickly and you need to put this into consideration.
The faster you realize that your ideal customers and leads’ behavior changes so quickly, the more quickly you will begin to experiment with your marketing automation.
Your marketing automation should be continuously tested and experimented with to learn more about your leads and get reasonable insights that can ultimately boost your conversion rate.
Platform-based vs Custom Marketing Automation: Which Implementation method Is Better?
Maybe you’re currently using some popular CRM platforms for your sales automation and you’re considering if it would work excellently for your marketing automation too.
Well, it all depends on your existing preference and satisfaction, if you love the results you’re getting from your investment, then you might want to consider implementing your marketing automation based on the same platform.
Marketing automation platforms such as Salesforce even allow further customization to meet your business needs. HubSpot also allows you to automate your marketing task based on prospects’ behavior.
If you are using custom-built CRM, you may want to leverage custom software development so you can easily add a marketing automation tool that might be more cost-efficient and budget-friendly compared to buying another platform-based marketing automation solution.
Additionally, the plaftom-based solution may not always allow you to get your desired functionality at a reasonable price. But with a custom software development team, you can extend your platform-based functionality while avoiding high fees.
However, implementing marketing automation involves a wide range of activities including data export, cleaning, and quality assurance. If your in-house team lacks the required skill to effectively implement your projects, turning to a vendor can be a great option.
Marketing automation processes aren’t quite as technical as many marketers claimed it is.
Although you might have to go through some rough patches in the beginning, in the long run, you’ll definitely see the returns.
Luckily, with the insights shared in this article, you should well be on your way to make a million bucks with marketing automation.
For further consultation and guidance, feel free to reach out to us at FortySeven47. Our professionals will definitely help with you any complexity.