As technology plays an increasing role in the landscape of marketing, the need for showing an ROI increases concomitantly. One example of this role is seen with marketing automation. In addition to adding efficiency to lead nurturing and customer outreach, automation can also allow for increased personalization.
Successfully implemented, a marketing automation system will accelerate your sales funnel, provide performance metrics and help your sales and marketing departments align their goals and actions. Combined, this can help improve your close rates, increasing company revenue. And who doesn’t want that?
Is your company hesitant to jump on the marketing technology trend? Why? Is it training? The cost of the system itself? Getting everyone to use it correctly? All of the above? If you’re struggling to show how marketing automation will benefit your company, here are some statistics and information that can help you make a strong case for marketing automation adoption in your business:
- Boosting Revenue: Who doesn’t want to increase their net income potential? A study by Wishpond found that 79 percent of CMOs rely on marketing automation to play a role in increased revenues. A successful adoption of a marketing automation system will increase your bottom line through better contact with your customers, proper tracking of marketing efforts and more qualified leads. A study showed that automating marketing campaigns could increase sales productivity by 14.5 percent and reduce overhead by 12.2 percent.
- Stronger Lead Nurturing: Marketing automation can be much more successful than simply using a blast email program when trying to reach prospects and customers. Why? Automation focuses your message on those most likely interested in your content. Companies utilizing a marketing automation solution have generated as many as double the leads that they would have achieved with a blast email program.
- Leads for Less: Using technology to find and nurture leads can open your company to hundreds, if not thousands, of potential opportunities. Your company can obtain more leads by using a marketing automation system…and it will cost 33 percent less to do so.
- Stronger Conversion: Implementing a marketing automation system can increase conversion rates up to 50 percent. Quantity of leads is not the only important data point anymore; the quality of those leads is just as important. The personalized messaging of a marketing automation system will keep leads warm, allowing your sales and marketing teams to determine when they are ready to be contacted to close a deal. The messages be more personalized, meaning your leads should have a better understanding of your products and services by the time they’re ready to enter your sales funnel.
- Positive ROI: Nothing demonstrates ROI like a strong addition to the corporate bottom line. Studies show that 75 percent of businesses implementing a marketing automation system saw positive ROI within the first year. Since program cost is a factor for large purchases, first-year positive ROI makes spending money on a marketing automation solution more palatable to company executives. A successful implementation will continue to demonstrate its value for years to come.
- Greater Customer Spend: A nurtured customer is often a happy customer. Nurtured customers spend as much as 47 percent more than they typically would without being touched by a marketing automation system. With targeted emails, the personalization pays off.
Whether your executives are interested in greater revenue or stronger lead conversion, implementing a marketing automation system will open the door for your company to succeed on multiple levels. The ROI is simply in the numbers.
About the Author:
TopLine Strategies delivers the complete integration and development of sales, marketing and customer service technologies that enable corporate clientele to improve revenue streams and strengthen customer interactions. Our project management and consulting is designed to achieve timely delivery, 100 percent user adoption of the technologies we implement and deliver measurable returns on investments for our clients.