If you could improve your business’ efficiency, productivity, and return on marketing investment (ROMI) by 20%, would you? If you said yes, welcome to the world of marketing automation.
And no, the first sentence wasn’t just a made-up statistic to get you to read the rest of the article. According to Nucleus Research, marketing automation really does improve business productivity by an average of 20%.
In 2020, the marketing automation software market was estimated at 6.87 billion dollars. Fast forward to 2026 and it’s expected to rise to a 19.66 billion dollar industry. But along with boosting your productivity, marketing automation platforms can do so much more.
If you like what you’re hearing so far, stick with us as we’ll dive deeper into what marketing automation is, why it’s a necessary investment, and the top 4 reasons why you should implement a marketing automation system in your business.
Here we go!
What is marketing automation?
Let’s kick things off with a simple definition. Marketing automation is a process performed through a software system to efficiently automate certain tasks and marketing initiatives instead of doing them by hand. Multiple systems that can make this happen, but at 1 Bold Step, we use HubSpot for our marketing automation platform.
As mentioned above, marketing automation platforms can help businesses perform several different tactics. When used to its full potential, they can help businesses with:
- Lead generation
- Lead nurturing
- Lead scoring
- Visitor and prospect tracking
- Create custom offers and messages
- Performing A/B testing
- Determining ROMI
And the list could go on.
If certain tasks like the ones above aren’t being automated, there’s a good chance you’re spending way too much time on them by hand. However, when you implement a marketing automation platform, you’ll be able to ensure that your marketing is working for you (and not the other way around).
Why is it a necessary investment?
You might still be wondering why marketing automation systems have been on the rise. Well, take a look at this:
According to Marketo, 76% of companies that implemented marketing automation generate a return on their investment within the first year. Not only that, but 44% of them see a return within just six months.
Just those stats alone are enough for anyone to stop and say “Wow, I need that.”
But wait, there’s more.
Your company needs a digital approach to marketing now more than ever. With the evolution of the buyer and marketing and technology colliding, it can be easy for businesses to be overwhelmed by tasks to help them stay ahead of the game. However, marketing automation can help organize your data, customize your brand message, and align your sales and marketing team. (Keep reading if you’d like specific examples).
Top 4 Reasons To Implement Marketing Automation
Now that you understand what marketing automation is and why it’s a necessary investment, it’s time to really hone in on why you should implement it and what it can do for you. Here are the top 4 reasons:
1. It Tracks the Success of Your Marketing
At 1 Bold Step, one of our favorite quotes comes from Peter Drucker. He said, “What gets measured, gets improved.” If you cannot measure or track your marketing, how are you ever going to be able to manage and improve it?
That’s why one of the most important reasons to implement a marketing automation system is to track the success of your marketing. One of our favorite tracking metrics is the fact that it lets you record your prospects’ lead source. Overall, a lead source shows you which marketing initiative originally brought your prospect to your company in the first place. Knowing this will help you realize how your prospects are coming into your funnel and where you are finding success.
We also enjoy using campaign metrics in our marketing automation platform. Campaign metrics allow you to see the full picture of your marketing campaign. Instead of looking at the individual metrics of a campaign, tracking them in a marketing automation system allows you to look at tactics tagged under a specific category (AKA “Campaign”) so that you can see how your campaign performed as a whole.
When you pair your marketing with data, you're provided with a clear picture of what’s offering you a return on investment and what you should scrap and reinvent. Dan Zarrella once said, “Marketing without data is like driving with your eyes closed.” And we honestly believe that to be true.
Using data with your marketing efforts helps you see the trends that are evolving, what your prospects are interacting with, and which campaigns are working the best. Don't drive with your eyes closed. Marketing automation systems make sure you have a clear picture of everything that's happening so that you can improve and then succeed.
2. It Connects Your Systems and Processes
Another reason why you should implement marketing automation in your business is because of the ability to connect your systems and processes. With a marketing automation system, no longer will you have to log into one platform to schedule social media, a different platform to send out emails, another platform to track your deals, and so on… Implementing marketing automation allows you to connect all of these platforms into one (if you choose the right one).
However, if there are other systems that you need to use that are not already pre-built into the marketing automation platform, we have some great news. Typically marketing automation systems offer multiple integrations. Some examples include Eventbrite, Calendly, Google Ads, Slack, Zoom, Salesforce integrations, and so many more. Just take a look at the endless pages of integrations that can work with HubSpot’s marketing automation platform. This will allow you to keep your data clean and have a centralized point of truth for your information.
3. It Saves You Time
Remember, Nucleus Research found that implementing marketing automation can improve business productivity by an average of 20%. Think of all the time you can save (and don’t forget that time is money)! Again, because marketing automation platforms can connect the majority of your systems into one, you’ll be able to streamline your marketing efforts. With this, you’ll have one easy-to-use platform to boost your efficiency in the long run.
4. It Gives You Visibility
Finally, one of the best reasons why you should implement a marketing automation system is because it gives you visibility into what your visitors and prospects are doing. Because many marketing automation systems already have a customer relationship management (CRM) tool built into the platform, you’ll be able to see who’s visiting your website, what IP addresses are pinging your site, and what pages prospects are looking at. With this information, you can also set up email alerts for your sales team in order to adequately follow up with your leads once they visit a certain page.
Marketing Automation is a Powerful Tool
Marketing automation is pretty powerful once you realize all the ways it can assist your organization. It’s no wonder why 68% of businesses use automation in some way.
If you’re considering implementing marketing automation, reach out to us. Our team at 1 Bold Step would be happy to get you on the way towards a higher return on marketing investment.
This blog was originally written as a part of a two-part guest blog for 8THIRTYFOUR Integrated Communications.
