Conversion rate and return on investment (ROI) are the primary indicators of success for marketing experts. That’s why it’s not uncommon for marketers to look for effective tools and approaches that can maximize the output of invested resources.
The advent of marketing technology keeps revolutionizing all fields of digital marketing. However, some businesses still tend to overlook the potential of setting up a marketing automation journey when, in reality, extending the martech stack with the right marketing automation solutions can improve the effectiveness of any marketing endeavor.
There’s no denying that businesses need to think strategically before implementing a marketing automation tool. But selecting suitable software is only half the battle. Businesses also need to find out more about the ability of a specific tool to impact their marketing ROI.
If you’re looking to drive high-quality traffic, effectively manage your leads, increase ROI, and build optimized strategies, marketing automation is an excellent choice.
Let’s examine in more detail how implementing a marketing automation tool can help you boost ROI and outperform your competitors.
What Is Marketing Automation and Why Does It Matter?
Marketing automation refers to platforms, technologies, and tools that automate digital campaigns and marketing efforts throughout the customer journey.
Businesses equipped with marketing automation work smarter and faster, not harder. It allows them to streamline marketing processes every step of the way. In other words, every process from email list segmentation to data analysis can be automated.
The Value of Marketing Automation
Every business has probably experienced issues associated with the lack of customer data, like dropping conversion rates and sales.
Whether your brand is in the affiliate marketing, home service, or insurance business, streamlining your marketing processes through marketing automation can help you tackle any problem and outperform your competitors. In fact, around 63% of brands using marketing automation outperform their rivals in terms of sales and ROI.
Ultimately, tapping into the potential of marketing automation solutions can help you put customer data to work, make data-backed predictions, drive high-quality leads, and boost the return on your marketing investment.
How Marketing Automation Impacts ROI
Understanding what marketing automation can do for your business is critical to its success. After all, a good product is never enough to generate revenue growth on its own.
That’s one of many reasons why brands often choose to implement a suite of marketing automation solutions. For instance, Phonexa, an all-in-one marketing automation solution for calls, leads, clicks, email, SMS, accounting, and more, delivers businesses the data they need to make strategic marketing decisions.
Marketing automation can certainly make life easier for marketing experts and complement their current efforts. But, on top of that, it can provide a more personalized experience for consumers, help brands focus on customer-centricity, and ensure business growth.
Let’s unpack how marketing automation can serve brands in the long run and help them increase ROI.
Effective Resource Allocation
It’s no secret that businesses with an excellent overview of their marketing initiatives can maximize their audience reach and revenue with effortless simplicity.
Automating routine tasks like customer segmentation, data management, or email scheduling can help you focus on other critical aspects of digital marketing like tweaking ad creatives, planning campaigns, and mapping out strategies.
With the right marketing automation solution at hand, brands can capture and analyze critical data that helps identify areas where they could be earning more.
Successful Lead Nurturing
Successful lead nurturing heavily depends on how you communicate and build relationships with clients. But it doesn’t mean that your sales representatives have to spend hours sorting through emails and talking to prospects.
Optimizing email campaigns and driving inbox performance is where you need to start. Every website visit is a conversion waiting to happen. Delivering a sequence of well-timed and relevant automated emails is a reliable method to keep your leads warm and eventually make them sales-ready.
Insights Into Customer Behaviour
Understanding the reasons and motivations behind specific customer behavior is critical for the success of your marketing campaigns. Apart from demographics, marketing automation provides complete behavioral data that gives insights into the preferences and interests of potential and current clients.
Ultimately, automation can answer any question you might have about your customers and what works best for them. So whether you’re looking to increase the CTR on your email campaigns, improve deliverability, or fine-tune your sales funnel, all the answers lie within the customer data.
Hidden Revenue Opportunities
The principal goals of marketing automation solutions are to help brands deal with large data volumes and make sense of it. But unfortunately, these are the tasks that many businesses still struggle with today.
Utilizing automation tools to track unique customer journeys, gather insights, and analyze customer data can help you understand campaign effectiveness and uncover untapped revenue opportunities.
Marketing automation enables brands to use customer data for experience mapping and establishing specific touchpoints crucial for personalization and engagement. It’s worth mentioning that a seamless experience has to be persistent in leading clients through the right touchpoints and delivering the desired results.
After implementing a such an automation tool and creating a customized experience that triggers or nurtures customers, you might have to tweak your approach. Since success depends on customer reaction, you need to monitor it carefully.
Besides, you need to remember that the customer journey should never be a flat line. On the contrary, it should resemble a circle because the principal goal is to keep customers coming back around and expose them to your brand and personalized offerings over and over again.
Marketing automation can certainly help you create successful omnichannel experiences, but it still requires a human touch to yield good results and impact your bottom line.
Automate Your Marketing Efforts to Succeed
Businesses can gain a lot from marketing automation, including improved productivity, greater efficiency, critical data insights, and increased conversions and ROI. When combined with the expertise of marketing professionals, automation solutions can substantially contribute to enhancing customer experience, making educated decisions, and improving the effectiveness of marketing initiatives – all inevitably leading to a higher return on your marketing investment.