Did you know that for companies transitioning from a labour-intense manual marketing system can expect to achieve a 6.9% increase in marketing staff productivity when implementing marketing automation best practices. Yet, time and time again, we see companies slogging it out spending hours creating beautiful content to engage their audience at the cost of reduced productivity.
You don’t know what you don’t know right? So, we thought we’d share a few of the numbers around the potential of marketing automation to your marketing and sales teams.
There are three core benefits to marketing automation.
1. Save time and money
If your business case for marketing automation can identify areas of cost saving you are well on your way to satisfying the CFO. Here are a few money saving potential benefits to include when building a case for marketing automation.
Reduce time consuming tasks
It can be overwhelming for marketing ops to juggle the complex array of programs and activities needed to reach target customers across a broad range of online and offline channels – from social media, web channels, to email, direct mail, events and more. Without marketing automation, that takes a lot of planning and execution to do all of that work manually. By investing in the technology to automate these processes, companies are able to get much more done with the resources in place, reducing campaign management budget.
D.I.Y your marketing efforts
By doing the hard yards yourself you’ll save time and money managing agency partners. Do it yourself instead of outsourcing things like landing pages and event marketing automation technology give you the ability to build marketing campaigns in-house using pre-built campaign templates. Not only does this save money, but it also saves time, keeps your creative elements consistent and makes for a more organised, more agile company.
Simplifying approval and compliance
By utilising tools such as Marketo alongside Jeto, you can amplify the size of your marketing team by allowing cross functional areas to execute repetitive tasks associated with email and event campaign management. The technology simplifies approval and compliance processes and makes it easy for anyone in the organisation to execute without needing to step into the backend of Marketo. This results in less time pressure on your marketing team and greater independence for other teams such as sales or customer support. Once setup, campaigns can be pushed to your marketing operations team for final approval prior to campaign execution. No more wasted time, and your teams experience an increased level of empowerment.
2. Measure and optimise marketing investments
As with anything we do in life, measuring and adapting are necessary components of success. In today’s world marketing is as much about the numbers as it is the message. It is important to measure marketing activities under pressure and make decisions on what produces results and what doesn’t. Marketing technology helps measure and optimise your marketing investments in a few ways.
Creates one source of the truth
Marketing technology provides the core system of record for all your marketing information. If you don’t have a system of record for your marketing activities you can’t improve on your performance.
Measure and test
The ability to run tests – this landing page vs that landing page, this offer vs that offer, this subject line vs that subject line – helps your company learn over time. By bringing your learnings into your execution you will improve your conversion rates, accelerate your sales pipeline and achieve more revenue.
Impact on your sales targets
How does your funnel work? What is your conversation rate from a lead into a qualified prospect? From an opportunity to a close? Marketing automation will help you understand how leads are moving through your funnel and help you make forecasts around the nuances of the impact marketing has on revenue. It will provide senior management tools to predict future revenue and help you to set realistic bottom up budgets.
3. Gain faster revenue growth
It goes without saying that the more quickly you can convert leads into paying customers, the more successful your business. Time is money, after all. You can either increase your opportunities, conversion rate, or average deal size—or decrease the time it takes prospects to move through your pipeline. Marketing automation enables you to focus on the right customers, develop relationships at the right time before they are ready to purchase, and scale personalised interactions with each prospect.
Improve Your Conversion Rate
Increasing conversions requires finding, targeting, and nurturing sales-ready leads. In addition to refining your marketing and honing your lead qualification process.
Optimise Your Average Deal Size
There are obvious benefits to landing high-value deals. However, bigger sales tend to take longer to close, so the real key to improving your revenue growth balancing high-value and low-value opportunities that allow your sales guys to manage their time effectively.
Sure, marketing automation tech like Marketo requires a considerable investment but when you consider the productivity gains it isn’t difficult to build a business case. While the setup can be daunting we’re here to help you design and implement best practices to get the most out of your stack.