According to a study by Grandview Research, the marketing automation software industry is projected to reach $ 7.63 billion by 2025 and increases in CAGR of 13.3%. With this kind of development, it is safe to say that marketing automation is no longer a tool for millions of dollars for brand-name companies.
However, as a vice president of business development in a software development company, I have found that it is important to note that automation results are only in high ROI when it is implemented properly. Whether you have already started marketing automation or considering the benefits of doing so, you should be aware of the major challenges arising while working to resolve these challenges. Some of these are a common nature of challenges, so some of these suggestions will be equally useful for those who have not adopted marketing automation.
What is Marketing Automation?
Speaking widely, any software system that allows you to automate your sales and marketing to increase lead generation and measure the effectiveness of your brand’s reach qualifies as a Marketing Automation. Although the set of available features may vary, some of the most common campaign creation, visitor tracking, lead management, and sales alerts are included. Like any other type of automation, it takes the most routine tasks and gives sales representatives and marketers more time for jobs demanding their creativity. For example, this might allow you to automatically split your viewers and then create targeted email targeting specific segments and set them for a specific period.
Time is important.
With the explosive development of Marketing Automation, it can look like a definite thing that is capable of converting almost any business into a high ROI development machine, but the reality can prove that where your company is in its lifecycle. In addition to implementing marketing automation, a significant amount of time and money are required and generally, there is no investment that gets high returns with minimal effort.
To determine if the time is right, ask: What is your website traffic? To take advantage of Marketing Automation Solution, you should have a certain amount of data with which the system can work. If the number of visitors coming to your site is like a stream compared to the river, then you are not likely to get the desired results from your automated marketing platform. However, this does not mean that your business will not be able to use marketing automation in the future. This means that, for now, you can focus on inbound marketing strategies such as SEO, Content Marketing and Social Media Marketing – all of which can help increase the site traffic.
Do not compare apples and oranges.
You might be surprised to know that when it comes to lead management, mechanics of marketing automation can present a challenge. For most companies, I’ve found that most of the leads fall into the low-to-mid-level range, and are only minority high-end customers.
Although it may seem to be a good idea to nurture all the leads, and in reality what a marketing automation system will do by default, by doing this, you can spend the revenue that you can make towards your high end Can grow better by growing.
Accepting that your high interval requires a different approach, it is important to optimize your marketing automation. Prior to passing a sales team, you can create specific lead-posting protocols for each group, which can increase the likelihood of conversion for the most profitable segments.
Speed is another important factor here. In my experience, the fast sales representative reaches a lead, which is more likely to close the deal. By sorting your lead based on your projected profitability, you can ensure that high-end leads are taken care of in advance. Sales reps can never contact some leads, so the role of the right priority is clear.
The solutions are widely varying.
To get the most profit, I believe marketing automation software should be easily integrated with other systems already used in your company. When choosing a solution it is a factor to keep in mind. Some marketing automation systems are issued as part of the Customer-Relationship-Management (CRM) System, which can be convenient if you already use the same CRM system. Accordingly, if you are choosing Archiz CRM, it is appropriate to check whether marketing is a part of the automation pack or not. The advantages bundled in a standalone solution can be advantages – for example, because it is entirely devoted to marketing automation, it may have additional features which are absent from the bundle solution. But you should keep in mind the potential integration challenges that people need to solve – such as data duplication and leak probability.
Since marketing automation becomes a fast integral part of sales and marketing processes, more businesses will have to face some challenges on the way. However, keeping awareness about these potential constraints, companies can successfully navigate marketing automation and get results of ROI.