Subconsciously, the word automation carries a baggage of association in terms of laziness and lack of control. In reality, automation isn’t just an absurd way of handing over the steering of your business to some brand new computing system.
Business automation benefits you by enabling a more effective and productive way of handling your daily activities. It helps you by bringing together multiple facets of your sales funnel that eliminates steps that could otherwise cost you time and energy.
You also need to consider that marketing usually happens to be the starting point for your sales and prospecting activities. If you can improve your marketing process, it will have a positive effect on all the related aspects.
According to research firm Nucleus Research, marketing automation can increase your sales productivity and decrease marketing overhead. This can require a tight integration and streamlining of your entire marketing processes.
In this article, we will be discussing about the non-obvious benefits of marketing automation that have the potential to steer around a much larger change. It also helps you acclimatize your business to suit a much larger economy.
Automate the bulk to focus on the imperatives
In a normal business day, you may need to go through multiple processes that happen during the normal course of the day. You also need to correspond or communicate between different departments. This involves connecting, integrating and improving on your multiple business activities.
It’s said that lion’s share of the business time gets spent ineffectively. This is known as Pareto principle. According to Pareto principle, the bulk of your energy and time is spent on trying to figure out and carry out tasks that don’t carry the potential to drive a big change. I have recently written a detailed blog about the Pareto principle and its implications in managing a modern business.
This means that the bulk of the activities don’t require professional proficiency in judgment and decision making. If you are constantly surrounded by high stake decisions, you can end-up being overwhelmed or jaded in your ability to take the right call.
The marketing automation platform lets you streamline all the business data that are involved in making the right decisions. It also ensures that you are well-equipped to make the right decisions on important matters.
For example, you can decide on whether a particular prospect is a regular customer or an occasional prospect.
This allows you to make concise decisions based on the follow-up information.
It helps you decide whether a particular customer should be given discount or deductions based on his/her purchase history. It also allows you to effectively decide on which products should be pitched to a particular prospect.
Minimize the number of spam and Dead leads
Whether marketers agree or not, a significant percentage of all enquires are casual or don’t come with an adequate purchase budget.
These are known as low value leads that require serious consideration.
When you spend time on pursuing low value leads, it becomes a wasteful exercise. The marketing automation system ensures that you are actually following the right prospects that exhibit all the right cues.
According to studies, B2B marketers are familiar with this marketing experience.
In light of this, almost 49% of the companies have resorted to automation of some kind to improve their lead processing. (According to Email Monday).
If you follow a lead quality assurance in the pre-sales stage, it will also incrementally improve your final sales processing. This will also ensure your effective lead quality.
Let us explain.
Most businesses are used to analyze lead management based on incorrect or partially true metrics.
In order to show this, let’s dissect the performance metrics of a typical e-mail campaign.
In this graph, the initial email responses data is limited by user’s inbox behavior. It doesn’t follow through with any user interests or chances of acquiring an actual purchase.
A marketing automation platform lets you collect and segregate customer list. You can also drill-down and segregate your prospect list to create more powerful email lists.
Consequently, it also ensures that you are focusing your attention on prospects who are actually looking to make the final purchase.
Decrease the Shelf life of particular Leads
The shelf life of a lead is the time gone before a particular prospect is attended by the prospecting team. During the time, this particular prospect is open to be reached and acquired by competitor.
If the lead count increases incrementally, you may simply try to comprehend and zero-in on prospects that may apparently convert. This can lead to an increase in the shelf life of a prospective lead.
When you keep a prospect on the shelf for longer, it also proportionally lowers the reverse customer response.
It can also lead to be a guess-and-err scenario, where you are needed to have a better system to manage your prospective lead pool. You are also required to bring down the shelf life of particular leads.
The marketing automation system can align your sales and marketing teams. This helps you significantly bring down the time required to respond to each prospective lead.
This also significantly improves your final sales conversions.
In a saturated marketplace, you need to have an effective system to streamline and manage all the opportunities.
The marketing automation system benefits you through receiving and managing all opportunities to its rightful closure.