If you can remember the days before the internet, when a sales representative wanted to make a sale, they would have to do the oh-so-dreaded cold calling: you take the phone and call a number from a list, never knowing who would end up on the other end of the line.
And let me tell you, this experience would suck. As a sales rep, you never knew the right time for making the call or whether the person was actually interested in the service or product you were hocking.
However, as the development of technology made it into high gear, it would be strange if marketing and sales teams had no resulting benefits. Today, businesses manage to grow faster with the use of digital marketing and sales automation, bringing in more revenue and impressive ROI.
Marketing and sales representatives should know their customers, what information they have recently been looking for and the best time to reach out with an offer. So, if a user has been surfing the net looking for a greeting card to send to his aunt in Saskatchewan, that information can already have been documented.
Now, let’s “zoom ahead” that process a bit, and look at the benefits that come hand in hand with automating the sales and marketing processes at your company.
What do the stats say?
Before we say that marketing and sales automation benefit businesses, we have to look at some statistics and data that will show how other companies are benefiting from this automation. And if you aren’t one of the companies making the “happily automated” list, chances are that your competitors are!
- Companies are adopting marketing automation at a high speed
1. According to P&S Market Research, marketing automation software market will reach $32.6 billion by 2024.
2. According to Marketo, 91% of marketing specialists say marketing automation process is very important for the success of their marketing strategy.
3. Businesses that turn to automated marketing and sales processes to nurture prospects see a 451% increase in the number of qualified leads. No need to be a math genius to do the simple equation: more leads = more sales = more revenues.
4. Companies that are most successful at lead nurturing through automated marketing and sales generate an average 50% more sales-ready leads at 33% lower cost per lead.
Any business grows if it has more leads. At the same time, the growth in revenue can be even greater if a company manages to cut down the cost per lead acquisition. Having automated marketing and sales presents huge potential for contributing to both processes.
5. The majority of companies turning to automation in their sales and marketing processes report huge growth in different aspects of lead generation. Just have a look at these stats:
With the use of marketing automation 50% more sales-ready leads are generated, meaning there’s no need to reach out twice. Also, these leads are acquired for 33% lower costs.
Now that there seems to be a bit more clarity in the aspect of growth, let’s try to understand how the whole “scheme” works. Which components of overall business growth are influenced by automated marketing and sales and what consequences of this automation fuel the growth of the company?
1. Automated marketing and sales help to capture new leads
The “buyer’s journey” of today’s online consumers look much more crooked and different from those simple ones a decade ago. The competitive business world put buyers in control and it’s more than safe to assume that they are not going to sign on the dotted line before they are informed enough about the product or service. And you know what the trick is? They don’t want that information from your sales rep. At least not initially.
It’s here that automation in marketing and sales pop in to offer the “sophisticated marketing” solutions able to capture that stranger visiting your website, turn them into known leads and then do what you do best: market to them!
Marketing automation offers a variety of ways of getting to know your website visitor better and having a second date with them. It is this strategic planning that goes beyond blast marketing: you ask the right questions at the right time, to offer the right products and services at the right time. Win-win, no?
Of course knowing your prospects and offering them what they need is much more efficient than coming out of the blue with an offer your lead doesn’t give a damn about. Therefore, automated marketing and sales processes with proper lead capturing and nurturing result in lower costs per lead, lower customer acquisition costs, and more sales.
2. Consistent branding becomes easier with the use of automation
Brand presence is one of the primary factors that influence sales. Customers are much more likely to buy from a company or brand they have heard of; no surprise. We feel more trust towards the names we have an awareness of. Stats show that it takes 6-8 marketing “touches” to generate a viable sales lead. Yeah, we know your company is great, or even probably the greatest out there. But, today’s business reality is a huge sea with a lot of fish. You have to make sure that you are getting noticed, and automated marketing and sales can be a fantastic asset for doing such.
With the help of marketing and sales automation, it’s possible to create consistent brand presence across multiple channels. Your business benefits not only from the fact that it influences the number and quality of leads, but also saves time and money allowing the marketing team to focus more on expanding their campaigns to more channels with more interesting, engaging content.
As soon as your customers get to see your info a couple of times and begin to recognize your brand, it will be much easier for them to connect with your business on many levels and customer trust will begin to build.
3. Marketing automation is easy to use
Using marketing and sales automation solutions makes the work of the marketing department much more streamlined and easier. You don’t need a huge team of technically gifted staff who will take care of different complicated aspects of marketing and sales, because automated solutions are very simple to use and are all about marketing optimization. As such, automation facilitates less workforce demand and saves tons of money for the business.
4. Automated sales and marketing helps in data analysis
It’s great when automated marketing and sales start to drive in leads. However, in order to keep sustainable growth, your marketing and sales departments need to process the huge amount of data they receive from previous sales in order to retain as many customers as possible and generate new leads and sales. Marketing automation software enables big data analysis, so at the end of the day your sales team can get to know each customer on a personal level. This is very important in crafting marketing and sales tactics tailored for specific customer groups and audiences, which further contributes to increased sales and revenue. The team can also use the automated software to manage customer relationships, enabling the staff to recognize important customer milestones.
5. Automated sales and marketing helps to increase campaign efficiency
With marketing, you want to know where you get the best bang for your buck. Marketing accounts for a big proportion of the overall expenditures for most companies, so wasting these resources is something you obviously don’t want to do. Historically, it has been a stumbling point for many companies to tie specific marketing campaigns to sales opportunities and actual revenue. This means marketers previously often relied on assumptions when trying to estimate what worked in marketing and what had to be cut down. That’s not enough analysis to make savvy marketing decisions, but automation has significantly changed the way decisions are made: the marketing team can tie all marketing activities to the sales process.
As a result, it becomes much easier to understand how different campaigns work (or don’t work) and how they influence the bottom line of the company. When statistical data and analysis is at hand, it’s possible to then slice and dice these reports in many different ways with the help of filters. Of course these insights enable the marketing and sales teams to operate in a more targeted way. The use of the marketing budget becomes much more efficient, and that is an opportunity to generate more business with less money.
Automated marketing and sales are not just “options” today. Beating your competitors in every aspect of business is crucial and automating your processes is a very efficient way of boosting company exposure, generating more leads, sales and making better use of company resources, both human and financial.
With automated marketing and sales processes you no longer have to run your campaigns in the dark: any action can be backed up with data on the customer, their preferences and needs, which makes it much easier to be in the right place at the right time. Help your business can reap the benefits of these processes by riding the wave of automated marketing and sales processes.
Have you implemented marketing and/or sales automation to success? If you have any insights of your own feel free to share them in the comments below. If you want to know more about what automation can do for your company don’t hesitate to contact us.