It is now becoming more difficult for B2B marketers to accurately target prospects with the right messages, on the right devices at the right time due to the increase of digital channels and devices. However, marketing automation has made it easier to achieve this. It is now mainstream and used by many digital marketers. By 2027, the marketing automation software market is expected to be worth $8.42 billion. Before looking at the benefits, you may be thinking what is marketing automation?
What is Marketing Automation?
You may have already started using marketing automation software without realising. It has been defined as;
“a category of technology that allows companies to streamline, automate, and measure marketing tasks and workflows, so they can increase operational efficiency and grow revenue faster.”
Some people believe that marketing automation only involves email marketing. However, it includes all marketing channels including social marketing and marketing analytics.
So now we know what marketing automation is, let’s take a look at some of the benefits and why you should start using it if you haven’t already.
Are you finding that you are losing valuable time each week completing mundane tasks? Using marketing automation tools, these tasks can be a thing of the past. This allows marketers more time to focus on creating great work which they were hired for. Marketers should also become more motivated and productive knowing tasks which once took days and hours, can now take hours and minutes and they have more time to focus on the work they love doing.
Increased Marketing Efficiency
With the amount of time saved, B2B marketers should also see an increase in marketing efficiency. Tools such as SEMrush allow marketers to schedule their social media content to go out automatically. Having looked at analytics, marketers can then post their social media content at the best time and on the right platforms that their audiences are using. Automating your email campaigns can also increase marketing efficiency. Creating workflows on tools such as Hubspot allows marketers to automatically send emails to contacts as they move through the different stages of the customer journey.
Improved Customer Experience
Being able to automate your marketing can improve the experience for your customers. Marketing automation can assist marketers in creating highly personalised campaigns which are targeted to their customers. This can include automatically sending out personalised emails when they subscribe to your newsletter, browse a product page or abandon items in their basket. It has been found that 93% of companies see an increase in conversions from personalisation.
Increase customer lifetime value
Marketing isn’t just about attracting new customers but also retaining current ones. As mentioned with automatically sending personalised emails, not only is this great for attracting new customers but can also be used to engage with your existing customers. B2B marketers could automate requests for reviews, send exclusive offers to different audience segments and also create re-engagement campaigns to target customers who haven’t engaged with your company for a certain period of time. These automation tactics can strengthen the relationship you have with your customers and increase their lifetime value.
Increase in Sales Pipeline Contribution
Every action of your marketing campaign is taken to generate sales. In order to do this, you need a sales pipeline to attract leads and convert them into customers. Marketing automation can support your sales pipeline and B2B marketers have seen an increase in their pipeline by 10%.
Should you invest in Marketing Automation?
This is just five of a number of benefits of using marketing automation. There’s no doubt that if used effectively, marketing automation can benefit your business; from saving time to improving customer experience. Although it may take some time to set-up, it will be worth it once it is up and running and start to see the benefits. As technology capabilities grow, the marketing automation opportunities should grow with it.