We all hope when we implement a new system/method into our business it makes an impact.
But what sort of impact would Marketing Automation make?
According to Gartner research, companies that automate their lead management see a 10% or greater increase in revenue by the first 6-9 months.
Is this the type of impact your looking for? How about relevant emails drive 18 times more revenue than broadcast emails according to the Aberdeen Group.
Facts are nice but what impacts can you expect within your business? The impacts range from improved organisational efficiency to improved sales efficiency. The main ways how Marketing Automation can make a real impact on your organisation is through lead capturing, lead nurturing and lead conversion.
So how does Marketing Automation (MA) do it?
Stage 1 – Lead Capturing
Most MA platforms come with certain features bundled into one interface, one of these features is aptly named the ‘Form Builder’. Form Builders create forms for organisations to place on their website, social media platforms and landing pages. The creator can determine the fields which are required, most cases an Email address and some basic contact information is common practice. Forms are most commonly used in conjunction with inbound marketing, this helps convince the prospect to leave their contact details. These forms are then linked to a sequence or a workflow of automated emails which leads us to Stage 2.
Stage 2 – Lead Nurturing
Once the contact has been captured the idea of lead nurturing is to bring the customer through the sales process in an automated fashion. This turns a contact from an uninformed lead into an informed lead. This is done by developing a pre-determined set of emails or notifications sent to the prospect. The majority of leads which have shown interest in your organisations may not buy at that time but are willing to make a purchase sometime in the future. This is where the lead nurturing really helps organisations, through staying in contact with leads which quite ready to buy. This keeps them warm over a longer period of time, with less effort. Which leads us to stage 3.
Stage 3 – Lead Conversion
Converting leads is what sales is all about. But how can MA impact on the conversion. Well, by the time you have nurtured the lead you are able to track their engagement with your content. Your sales team is able to use this information to better solve their leads problems and according to Jake Atwood 70% of leads will convert over when using the problem-solving approach.
So if your organisation has been falling behind following up leads or your sales team hasn’t been receiving enough qualified leads, than maybe you need to evaluate the impacts using Marketing Automation could have on your organisation. The adoption and learning of a new system can be worth the dramatic increase in lead capturing rates, sales conversion rates as well as boosted organisational efficiency.