Today, the term ‘marketing automation’ has become the most frequently buzzword in marketing. It’s also an indispensable part of marketing jargon.
In this situation, businesses need realistic and practical ways to evaluate and track marketing automation ROI. Here, we consider five substantial factors that could determine your marketing automation performance.
Achieving Call objectives
With marketing automation, you can track the progress of each call along its process pipeline. Here, each of your call gets recorded for its progress. For example, whether a particular call gets a meeting fixed or gets a call back or gets the client to pay the first installment.
Consequently, you can also collect your prospect number with better probability of conversion. You may also blacklist prospects that are unlikely to convert. This helps you to drive a progressive call conversion procedure.
Increasing Prospect Engagement
With increasing number of contact with a prospect, you are incrementally raising your chances of winning a purchase. With marketing automation, you can contact prospects and customers on a realistic time-line.
It also allows you to contact prospect based on specific objectives. For example, you can rightly segment calls for arranging meeting, while you could arrange another set of meetings on place.
Increasing Client Retention Rates
A client retention strategy means that you can plan and manage prospect conversations. With new prospect taking five times more investment, having to attract a new lead could be incredibly more time consuming.
A marketing automation process lets you consistently retain more prospects. This also incrementally increases your prospect retention on a long-term basis.
Create long-term Prospect Management
With a CRM, you can create long-term prospect management to attract maximum number of leads. This enables you to segment and strategic each client and prospect. Here, you can allocate each lead to a definite profile based on particular details such as contact number, address etc…
Having a consistent prospect engagement strategy means that you can increase your retention and customer acquisition costs.
Tracking Up selling and Cross-selling
It’s proved beyond doubt that business could earn a better profit margin through selling to their existing customers, rather than attaining new customer base. With CM-based selling, you can directly drill-down and maximize new up selling and cross-selling opportunities.
With CRM-based reporting and analytics, you can directly identify new opportunities within your existing customer base.
All these simply mean that businesses across the globe are utilizing ‘CRM-based marketing automation’ as a common performance boosting tool.