As companies look to better understand their sales prospects and current customers, they often turn their focus on to their sales and marketing funnels. How to generate more leads, how to score leads more accurately and marketing personalization are frequent topics of discussion and fine-tuning. The goal is easily described, but can be challenging to meet: how to turn prospects into customers and customers into brand advocates. One solution to this end is marketing automation.
Marketing automation allows companies to automate the content being delivered to their prospects and customer base, assists in personalizing the recipients’ views, tracks prospect and customer interactions and analyzes their potential next steps. But does it work? Yes.
Research on the ROI of marketing automation found that 77 percent of the companies that implemented marketing automation saw increased revenue through marketing and sales effectiveness and 65 percent gained greater insight and transparency into daily marketing and sales activities.
So, how specifically can marketing automation better serve your company?
- Return on Investment (ROI): ROI is like a magic incantation in decision making. If your company is investing time, resources and money into a new technology system, it is important to know how it will aid your company and its bottom line. With a marketing automation system, your team can directly determine the number of leads found through campaigns, which campaigns they were and, eventually, if purchases down the line were made by those same customers.
- Lead Quality: Most prospects and customers who visit your website are not necessarily ready to purchase at that moment. There is no need to send every website visitor to the sales team to pursue; it’s a waste of time. Your sales team should focus their time and effort on the prospects on the brink of making a purchase decision. Lead scoring in marketing automation assists your marketing and sales team in deciding when a prospect is at such a point. By placing numerical values on interactions with your company, such as website visits, form submittals and website downloads, your team can better classify where a prospect sits in your sales funnel. Once a prospect achieves a lead-scoring threshold, they will then be passed to the sales team to close the deal. Companies that have implemented a marketing automation system delivered an average of 53 percent higher conversion rates based on qualified lead scoring.
- Customer Journey: Marketing automation systems allow companies to better understand their customers’ journeys. Is there a specific webpage or download that most prospects access prior to purchase? Do they normally visit your website a certain number of times before asking for more information? Marketing automation documents the customer journey, allowing your team to spot trends for future planning.
What company wouldn’t want greater sales for a lower cost-per-sale? By aligning your marketing and sales efforts with the implementation of a marketing automation system, the prospect-to-customer journey will be more focused. Customers receive more personalized content, are guided in an automated manner through the funnel and can be contacted once they are warmed up. Focus your time and effort on the prospects that are ready to close and let automation take care of the rest.
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.