How to grow your company with marketing automation
It’s always a pressing question for small businesses: How can we achieve meaningful growth without overextending our resources? Most companies that start on the small side eventually want to be bigger and gain more revenue. The business world has a lot more competition than it used to. For B2B brands focused on sales, it’s crucial to stand out in the market and gain more sales. Marketing automation platforms can support your sales team and are scalable for a growing company.
Several years ago, in the technology sector, it was possible to reach explosive levels of growth in a short span of time, but business owners need to be more careful and scale up with caution, according to Geoffrey James of Inc. Magazine. The nature of startups and small businesses have changed, so strategies that used to work may not anymore. B2B companies need modern solutions to attain revenue growth, and an online marketing system can help them meet growth initiatives.
Internet lead generation and sales processes that could be slowing growth
When looking to grow your company, the obvious first step seems to be increasing sales. While this has the potential to increase revenue, you won’t be able to grow unless you have the right processes in place. You need to take a careful look at your sales team and make sure they are performing efficiently.
Although Amazon may seem like an exclusively business-to-consumer tool, the online retail giant is starting to bleed into the B2B world, Tom Pick wrote for MarketingProfs. In fact, Amazon has created a supply service for commonly used business items, and nearly half of B2B buyers have used this to make purchases in the past year. This trend may be because their regular suppliers do not give them the ability to buy products online.
It’s unlikely that high-cost B2B offerings like enterprise software or factory equipment will be sold online, but Internet shopping is certainly revolutionizing the way people approach commerce, and your sales team needs to recognize that a large portion of the customer journey is happening on the Web.
You could be losing business and not even know about it. The vast majority of B2B buyers start researching product offerings on the Internet, so a lack of online visibility can really hurt you. If leads can’t find any information about your firm in a search engine or through social media mentions, they aren’t likely to purchase from your company. Similarly, not enough relevant information can cause prospects to drop out of your revenue funnel. A higher number of key decision-makers are involved in the B2B sales cycle, which means you need content tailored to different personas.
In addition, your team may be struggling to make personal connections with prospects. Sending mixed messages is a major detractor from sales effectiveness. Employees need to deliver communications and pitches that reflect the information available on the website. For example, if prospects thought they could buy a certain software offering for a particular price and they discover this is not the case during a sales meeting, they won’t be likely to buy.
Marketing automation can alleviate many of these sales challenges by streamlining processes and adding an element of consistency. These platforms can help companies create more relevant content for different buyer personas, which enables improved lead nurturing. In addition, these tools can keep all your sales employees on the same page to avoid sending mixed messages to prospects.
Marketing automation allows your team to expand sales and is scalable for company growth
B2B sales have become far more complicated, and without employees having the tools they need to close deals, your company can’t grow. Although many business owners don’t want to purchase technology, marketing automation has many benefits for sales teams and has demonstrable return on investment.
A common misconception is that these platforms are really intended for marketers, and sales teams have to spend time training to use them, according to a Salesforce blog post. While they can help marketing teams improve segmentation, the lead nurturing and revenue benefits for sales employees may prove to be critical for growth. Sales professionals can better qualify leads, which is helpful when it comes time to approach prospects over the phone or in person. Marketing automation also helps your employees gain more insight into leads’ activity and engagement.
One of the most significant ways companies can hurt their own growth is by letting leads slip through holes in the sales funnel. You need to pay attention to leads who aren’t ready to speak to a sales rep without overwhelming them. These platforms can automatically nurture prospects with email over time. Not only does this free up time for your sales team, but it prevents your employees from coming off as too eager. Marketing automation can give your sales team the support it needs to grow revenue.