6 Symptoms Your Business Needs Marketing Automation
It is in the best interest of businesses to find ways to grow their sales and revenue. Exploring different options for profit means leveraging their profit potential. To that extent, marketing automation is one of these potential-bearing options that contemporary companies must investigate.
On the one hand, the effectiveness of marketing automation cannot be overstated. In fact, according to the study conducted by Lenskold Group, 78% of marketers believe that marketing automation plays a crucial role in revenue growth.
On the other hand, only 51% of companies are currently not using marketing automation to grow their business. Granted, companies who are automating their marketing now has multiplied by 11x since 2011, and the figure is only expected to grow moving forward.
Whatever the current status of your business, all it might take to boost its growth further is through setting your marketing campaigns into auto-pilot.
Instead of discussing why you should not upgrade to marketing automations, let’s explore the main reasons why marketing automation is imperative for your company in 2017.
1. No email list
Your revenue from email marketing lies in the list; the bigger your email list, the higher your chances at converting your audience into customers and making money. The psychology behind email list building is simple: if people trust your business, then they will subscribe to your mailing list.
Of course, not everybody will sign up to your list. You have to give them a good reason why they should even let you email them in the first place. One of the best ways to do this is by providing value to them, whether it’s by writing an excellent blog post that compelled them to sign up to your list or offering an opt-in incentive that provides an answer to their problems.
By providing something in return to get into their good graces, you immediately build trust between your brand and target audience. That trust can be quantified by way of getting them on board your mailing list. If they trust you that much, then they should not hesitate to sign up to your mailing list.
However, all of these will only be in principle unless you are using a marketing automation platform.
Through marketing automation, you can set up an opt-in form and strategically place them within your site pages where people can see them to increase the chances of sign-up. You can then store your list of subscribers so you can send them emails on your next campaigns.
More importantly, you can track down how your campaign has fared based on metrics such as the number of subscribers who opened your email, clicked on a link in the email, and so on. By building your list and nurture it using marketing automation, you can turn leads into customers and increase your sales.
2. Insufficient funds to hire staff
“No man is an island,” as the saying goes.
If you cannot manage your marketing strategy alone, then it is only logical for you to hire skilled marketers who will carry the workload with you.
While in theory, this all sounds simple, the fact of the matter is that it isn’t 一 you need to consider the costs of getting marketers on board your company.According to Miles Herndon, you will need to shell out $65-300 an hour for a marketing consultant. However, much of the work that the marketer in this position will do is help you formulate your strategy.
For the heavy lifting of actually rolling out your campaign, you may need to hire a more dedicated full-time member. You can hire a virtual assistant if you are looking for an affordable solution, but you will have to worry about the quality of work.
Absorbing an in-house employee is the most sensible approach so you can track his or her progress in the office. However, this only applies if you have the funds to pay the employee regularly.
As a result, this leaves you with using a marketing automation platform.
Compared to hiring staff, an automation platform comes in at a much lower price. Depending on your needs, there are freemium and paid solutions to help you get your business from the ground up in email marketing (By the way, did you know that Moosend recently ranked 6th on a Top 20 list of Most Affordable Email Marketing Software by Capterra.com?). There are also enterprise platforms for bigger companies with an established customer and subscriber bases. (Moosend is all that.)
More importantly, you have the ability to be hands-on throughout the entire process. As mentioned earlier, you can personally set up the workflows based on your developed marketing campaign. The automation platform will be dependent on how you set it to execute commands and actions. In other words, marketing automation will simply do your bidding at lowered costs.
The marketing automation tool that will help you get the job done is Moosend. The platform is free of charge for up to 2,000 subscribers. You can develop workflows that trigger the platform to perform a specific action based on the behavior of your site visitors. The workflows help you automate your marketing process, thus allowing you to focus on the results and optimize the performance of your campaigns.
3. Your campaigns are not profitable
We have been talking about how marketing automation is meant to grow your sales, but we need to discuss it in a way that everyone can easily understand it:
The primary goal of marketing is to make money. If your marketing is not helping you earn money, then you have a serious business problem. Marketing automation helps mitigate this problem by providing you with powerful statistics so you can see how your marketing campaigns have fared.
You can compare data by month or week so you can gauge whether or not your campaigns have improved. You can then tweak your upcoming campaigns based on your findings so you can optimize your campaigns moving forward for maximum growth.
With marketing automation, you get to focus on results. Instead of focusing on launching the campaign, you can forward to analyzing the data once the campaign has ended. This marketing shift allows you to take a more results-driven approach. You will not make money through your marketing if you keep launching campaign after campaign instead of taking a break in between campaigns to see what worked and what didn’t.
More importantly, you need to design your marketing campaigns with the purpose of turning in profit. You can develop campaigns that aim to engage your audience but only because you want to move them down your sales funnel. There is little point in pursuing a goal that has little to do with growing your revenue using marketing automation.
4. Poor and unqualified leads do not go down your sales funnel
The concept of a sales funnel is common among companies who are in the business of making money.
In a nutshell, you need to attract the right people to your business who have the greatest chance of becoming your client or customer. Until then, these people are considered to be leads.
However, not all leads are the same. Some are not as close to becoming your customers than others. Therefore, the bottleneck in your sales funnel occurs when you treat all your leads the same. You send your leads the same emails and communicate the same message despite knowing well that not all your emails apply to each of them.
If you have been doing this all this time, then it explains why you aren’t making more money for your business than you should. It also provides you with a good reason why you need to tweak your sales funnel using marketing automation.
If you have an existing email list, you can segment subscribers who are engaged and have opened your emails from those that didn’t. You can then create a specific campaign for non-active subscribers with the intention of getting them to click on your emails. For those people who have opened the emails in your campaign, you can segment them under-engaged subscribers. Keep doing this until you have gotten most of your subscribers to open your emails.
5. Inconsistent implementation of marketing efforts due to time constraints
One case might be that your online marketing strategy requires more effort than it should. Indeed, part of the problem is the inability of your business to run your marketing campaigns on a consistent basis. And consistency is key, especially when your competitors can be as consistent as possible through automated workflows. In an increasingly competitive world, details do differentiate a brand from the rest.
Despite how competent a marketing team is, it cannot possibly be charged with developing, launching, and analyzing multiple campaigns with the purpose of increasing your sales and revenue. Let alone worrying over testing, segmenting, analyzing conversions, and a host of other factors that measure your campaign performance so you can launch better ones in the future.
The imperative need for marketing automation helping to make your winning strategy come to fruition can only be highlighted by the demanding time constraints inevitably posed.
Moreover, 74% of marketers praise marketing automation for helping them save time and making their tasks much easier. Instead of you manually rolling out the campaigns and tracking the results, all you need to do is set up your workflow so your emails are sent to the right people at the right using different functions and triggers.
Once the results come in, you can just look at the overview of your campaign’s performance and make informed decisions on how you approach your upcoming campaigns. You then just tweak your workflows on the gathered data so you can generate better results in the future.
Therefore, the main load of the work is delegated to the marketing automation platform while you focus on thinking of ways on how to improve your marketing strategy.
6. You have hit your growth plateau
So, you’ve turned over a profit with your business. You can consider yourself a self-made marketer because you turned your entrepreneurial dreams into an empire.
You think you cannot possibly grow your business any bigger because you feel that your company has peaked and had nothing else to prove.
However, it would be absurd to just let your business run its natural course from here.
A real mark of a successful business is your desire to grow your business even bigger. This means not resting on your laurels even after you have achieved success and looking for other ways to take your company to another level.
Therefore, if you have yet to explore marketing automation as an option to grow your business, then you need to consider this idea and run with it.
If you rely on your business to run the major parts of your marketing strategy, then the marketing automation will help streamline the process and save you time. You can run repetitive tasks using the platform and set it to auto-pilot so your employees will have more time to work on other priorities.
Using marketing automation effectively allows you to reassess your business processes so you can allocate your resources appropriately and put your employees into better use for the growth of your company.
Wrapping it up
As you can see, there are always reasons why you need marketing automation in your business. All benefits of automated workflows await to be reaped. Take your business to the next level by incorporating automations to your marketing mix- have the most revolutionary technology available in email marketing do the work for you, quickly and inexpensively. Give Moosend a try today.