Understand what is working and areas for improvement
While many companies may seek marketing automation platforms to send out advertising communications without understanding what is working and areas for improvement, there are a number of other functions this software that can help sales and marketing teams succeed. In addition to automating marketing, these solutions allow companies to score their leads, nurture prospects throughout the sales cycle and establish stronger relationships. Marketing teams can also use automation platforms to determine which strategies are working and which aren’t.
As business models have shifted over time, the average sales cycle has increased. Firms that implement an online marketing solution often express closing deals faster as a top priority, and marketing automation can result in 50 percent more sales-ready leads at one-third of the cost, according to an infographic from Marketing Weekly. However, many organizations are not using these solutions to their full capability. Some chief marketers do not have a formal procedure to manage marketing automation, and they may not see all the benefits, including the ability to reassess strategies.
Marketing automation identifies areas for improvement
In addition to lead scoring and nurturing, marketing automation platforms offer tools to measure how campaigns are performing. Businesses that do not track and report their marketing and lead generation efforts may be losing the opportunity to change their strategies.
Demand generation has become more complicated over time, and marketing teams need to leverage data to improve their relationships with leads, Business 2 Community stated. The process is more scientific, meaning marketing teams need tools to track their efforts. Some executives do not see the benefits of online marketing methods because they don’t see how it impacts the bottom line, but marketing automation platforms can provide accurate reports about lead generation efforts and tie campaigns to the number of conversions.
Not only can marketing automation monitor effectiveness, but these insights can be used to help the marketing team not waste time and resources on campaigns that aren’t working. The software can send tailored emails to prospects, but sending the wrong message at the incorrect time will make it difficult to convert the lead. Marketers can identify the most effective emails, which allows them to optimize their campaigns.
If marketers are aware of how prospects find products and services online, they can create new campaigns to drive more traffic. Measuring effectiveness can add value to marketing campaigns and companies can improve lead generation.