Enabling Marketing Automation to increase ROI

   

Digital transformation at a glance:

 

How about sales without CRM? Exactly marketing without Marketing Automation. If you are a marketer, you are likely to be familiar with Marketing Automation.

According to Marketo, "Marketing automation is the technology that allows companies to streamline, automate, and measure marketing tasks and workflows so they can increase operational efficiency and grow revenue faster."

Although Marketing automation was a thing for relatively SMBs, it is becoming a highly effective tool for micro-businesses as well, and if not the best revenue increasing tool for solo marketers. The increasing demand for Marketing automation doesn't have to link with the automating tasks and grading down human activities, marketing automation is a tool that empowers people in marketing. The best thing about marketing automation is it helps to nurture the buyer relationships with the products, measure their response and calculate the revenue impact the campaign made.

What will you learn from this blog post?

 

In this blog post, we will learn how marketing automation plays an important role in:
1. Developing a relationship with buyers.
2. Automate marketing operation.
3. Measuring Marketing ROI.
4. Increase overall ROI.
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1. Developing a relationship with buyers:

 

For any brand building relationship with buyers is the best way to increase brand value and revenue Building a relationship is crucial for long term growth. Relationship building is also a work of pure integration and alignment of various tools as well team. Marketing Automation consists of a sizable share in tools and also bring different operation team under one software. This is the reason Marketing Automation has a big share in building a relationship with buyers.

When we say marketing automation, we are taking a broad view in context. Usually, Marketing Automation is seen as enabling automation in operation - many marketers misunderstood it as sending bulk emails without even bothering to apply a personalised touch. The relationship required personalization and time to time follow-ups.
Following are some important tactics that play important part enabling marketing automation and building relationships:

a. ToFu activity:

The basic we all know about email automation is sending an email blast to the contact list we have extracted through demand generation. This is a ToFu activity. With some changes, we can personalise the email at scale and for ToFu nurturing the personalization need not be higher. Introducing brand and setting up initial relationship should be the goal behind the ToFu automation.

b. Measuring the impact:

Marketing automation software enables marketers to analyse the initial interaction between brand and buyers. While we can count on vanity metrics such as total reach and open rate, we could actively analysis CTR to dive deep into the next level of funnel activity.
Taking analysis enables marketers to build the right relationship. It is crucial to know the engagement the content having with the prospect.

c. Mapping the behaviour:

As we know the intent is the important signal a prospect can give to marketers. Every time prospects engage with the content it sends an intent signals, mapping that intent and behaviour power content marketing to level up and eventually close the prospects processing, analysing and leveraging the behaviour and intent data.

MA generate first-party intent signals later then aligned with third party signals it draws the complete buyer behaviour picture.

d. Segmentation and prioritisation:

Lead scoring helps marketers to prepare a list of buyers according to its readiness to buy. With the help with Marketing Automation, it is relatively easy to segment and prioritise the leads using the lead scoring model.

Leads are scored and segmented by the data inputs we get from automation and Demand integrate software. Successful agencies and published have activated actionable database in their marketing operation.

2. Automate Marketing operation:

 

The journey from the prospect submits its contact details to he becomes a promoter of a product - the journey is complex. The conversion of account is a result of many marketing tactics including inbound, marketing automation program, ABM, social media and in-person events. Somewhere in this complex journey, digital content delivery plays a crucial role to nurture prospects, we can say to build long term relationship.
Marketing Automation does what it suggests - yes, it automates the marketing task, including digital enablement and content delivery, that otherwise consumes significant time and resource. Implementing marketing automation boost ROI as it cut down the cost and time.

What automates and improves operation?

a. Email marketing:

Email marketing generates the highest return than any other marketing tactics. The secrete behind high ROI is minimum acquisition cost. Email marketing can be overwhelming when it has to perform at scale. It is where marketing automation comes to rescue, as discussed earlies MA enables marketers to send emails to a broad audience.

b. Landing page:

LP is by far the most important ingredient in email marketing. Automating LP and personalising it improves the engagement rate, resulting in higher CTR. With some technical advantage, it is possible to reduce web development team involvement to build graphical interference that boosts the conversion rate for LP.

c. A/B testing:

Not all type of marketing campaign works every time. A smart marketer knows that they need to test multiple version of the same campaign for the segmented audience. MA helps to improvise the testing and driving faster result that enables marketers to make the right decision.

d. Forms:

With progressive processing, forms are becoming smart. MA enables autofill up or social fill up allowing the user to automate fill up the data using their often used credentials and social credentials.

3. Measuring Marketing ROI.

What we can measure, we improve. The system fails to measure the outcome of efforts considers being useless. In the case of MA, it helps marketing as well as salespeople to measure the impact marketing campaign making on overall revenue. MA becomes useful for brands and agencies because of its analysis capability to measure cost per acquisition. Still, many marketers experience the analysis paralysis with marketing automation.
What metrics to be considered to measure success with marketing automation?

A. Engagement metrics:
B. Performance metrics:
C. Conversion metrics:

A. Engagement metrics:

Some good indicators define the engagement the latest marketing automation campaign is creating. Site traffic, open rate, CTR and subscription list are some of it. If you experience a sudden peak in website visitors it might be the result of MA efforts. People visit the website out of curiosity or if they want to learn more about the brand. This is a good indicator that you are succeeding to drive demand to your brand. Being more specific about email delivery, email open rate and CTR play a clear indication about the success with MA. Despite you automate the marketing, you have to put some serious efforts to improve open rate, you can learn how to increase the open rate to improve ROI goal with this APSS Media's blog post.

B. Performance metrics:

The performance metrics involves MoFu activities such as generating leads. MQLs and SQLs are parameters to measure how your MA program is doing. Here you don't have to be confused number with the quality of leads. It is ideal to focus on the quality of leads steadily increasing its number. In the best-case scenario, you will acquire several SQLs prioritising the quality.

C. Conversion metrics:

This is the most important parameter for ROI generation. Conversation metrics include conversion rate, customer acquisition cost, revenue generators and customer lifetime value.

The lower you keep the cost per acquisition the higher you will have ROI. By setting up the cost per program or lead you can eventually calculate total revenue the marketing efforts generated. MA enables marketers to generate this value with its integrated measurement tools. It is ideal to measure the revenue with the lifetime value of a customer not just with a dollar but a relationship.

3. Increase overall ROI:

 

Marketing is a vast process and complex operation. MA helps the process to be smooth and operation effective. MA helps save resources and divert it towards the most important part of branding. Every tool and technology we use, we use it for the betterment of life and business. MA serves the ultimate purpose. It helps marketers to not be busy with mundane marketing task and enable marketing for revenue generation. Marketing automation's abilities make it a revenue generation tool that helps marketers as well as sales.

This was our experience with several marketing campaigns which are completed by our expert team. To know more how we enable marketing for revenue generation, drive demand for growth and nurture the relationship to increase lifetime customer value please mail us at sales@apssmedia.com.