The majority of marketing representatives share the same goals and face the same challenges every day. Companies of any scale need to deduct a rationale for marketing budgets allocation, identify the technological solution that would meet their business objectives and hire the best talent to fulfill various marketing strategies and so forth. In addition, your marketing team has to multitask in order to cope with numerous responsibilities they were burdened with. Lead generation and lead nurturing are complex tasks that require special skills. In any case, you can always find some room for growth and pinpoint the areas your marketing department could improve. That is why marketing automation platforms are so widely used these days. The use of marketing automation software will likely to continue with a projected investments increase up to $5.50 billion by 2019. Marketing automation platform does all the heavy lifting and enables your marketers to focus on the performance of applied marketing strategies. You should take a closer look at the most typical challenges that marketing automation resolves.
Calculating ROI of marketing activities
ROI of marketing activities has been one of the most intricate topic to discuss for decades. It is incredibly vital for marketer to realize the efficiency of each particular marketing activities and at the same time, it is quite difficult to clearly define the ROI for certain areas of marketing involvements. Only 21% of B2B companies claim to be successful at tracking ROI. Nonetheless, there is a solution. If you establish a connection between your marketing efforts and the amount of resulted sales, you will be able to correlate these processes and discover the amount of leads and customers your marketing campaigns have provided. Ideally, the marketing software you operate in should be seamlessly integrated with your sales automation system. For that matter, consider deploying bpm’online, so that you could define the cost-effectiveness of marketing approach you followed. Moreover, excellent customer service will eventuate in customer retention. The statistics suggests that even a 5% increase of retention rates increases profits by 25-95%.
Securing budget for marketing campaigns
Securing marketing budgets has always been a difficult task as 51% of companies with more than 200 employees admitted that securing more marketing budget is one of their biggest priorities. 74% of marketing reps spend more than $50 per lead generated and 5% spend more than a thousand of dollars per lead. However, the implementation of marketing automation has managed to turn the tables. Profit-wise, the companies who deploy marketing automation platform have shown stellar results. B2B organizations who excel at lead automation have noticed a 10% revenue growth in 6 to 9 months. Moreover, the businesses that practice lead generation and management techniques have a 9.3% higher sales quota achievement rate.
Preparing your marketing representatives
Unfortunately, almost 70% of content is never used due to its irrelevance to the audience. For that reason you need to deploy a marketing automation system that would also educate your marketers to create and deliver the most personalized marketing campaigns. You need to establish a system where your marketers are encouraged to share valuable knowledge and ideas. Your marketing automation platform has to be equipped with the best productivity tools. For instance, bpm’online offers a great variety of tools to keep the new recruits of your marketing team up-to-date at all times. Your marketing reps will get access to the extensive database of presentations, document templates and other useful marketing materials. Once prepared, your marketing representatives will be able to provide potential buyers with ample and relevant materials on each step of the buying process. Statistically, 95% of buyers will choose such a competent solution vendor.
Tracking unregistered online buyers
From the first visit to a website, your visitor’s web browser is collecting data about pages they went to or how much time they spent there etc. This information is exceptionally valuable and your marketing team cannot let it go to waste. Generally, companies with sites of 401-1000 pages accelerate 6 times more leads than then ones who have only 51-100. If you want your marketing automation platform to be capable of processing such large volumes of information, it has to be equipped with tools for excellent website behavior tracking. But the benefits do not stop there. The most efficient marketing automation solutions will also provide your marketers with data on lead generation sources and channels. That way, you will be able to focus on the most effective sources. This insight shouldn’t be taken for granted considering that 85% of B2B marketing reps who use a marketing automation platform say they don’t even use it to its full potential.
Targeting your audience with the most personalized approach
In world where customer satisfaction is a #1 priority for all businesses, it is crucially important for all organizations to address each of their valuable customers individually. Email marketing seems to be the best tool for this objective as 60% of B2B companies consider this channel to be the most profitable in terms of ROI. Your marketing team should not apply “shotgun” strategy to reach their target audience. On the contrary, if you ought your email marketing campaign to be successful, it needs to be personalized and executed with surgical precision. Even in the most simplified form, personalized emails with recipient’s first name in the subject have generally higher open rates. Personalized emails will benefit to the click-through rate and conversion rate as they increase by 14% and 10% respectively.
The implementation of the marketing automation platform that fully meets your business requirements can unlock the potential of your company to its fullest. Marketing automation solutions are capable of performing complex tasks your marketing reps would not be able to perform without technological back-up. If you want you marketing campaigns to finally pay off, you need to run a deep scan of you current marketing activities and determine your strong points and uncover the areas that need improvement.