Let’s face it: We’re not in the same business world we were a few years ago. Many companies, especially in tech, are taking drastic measures to scale back their workforce. Twitter may have made the biggest headlines, but according to layoffs.fyi, tech companies laid off more than 150,000 people in 2022. That, in addition to several years of workforce upheaval from the Covid-19 pandemic and concerns of a mild recession in 2023, has many business leaders eyeing market instability and more potential cutbacks ahead.
Marketing budgets are often an easy target, but making those cuts too hastily can impact sales opportunities and your bottom line. That’s why avoiding knee-jerk cuts and arming marketers with automation assistance can help your team do more with less.
More Than A Bandwagon Effect
The marketing automation space is competitive, and these tools are gaining popularity as more companies and marketing teams learn of the benefits. A 2021 survey from Dun & Bradstreet showed 90% of CMOs planned on using marketing automation tools by the end of the year.
Of course, this makes sense. Marketing automation meets a need that gives you an edge.
A Salesforce survey of 2,900 sales professionals showed only 46% of reps had data on their customers’ propensity to buy. That gap shows the shortfalls of not harnessing data in your favor. If you don’t leverage key areas of your marketing platform, you’re really only seeing half the picture.
Even Higher Engagement
According to a 2021 Hubspot report, 77% of marketers are seeing higher email engagement thanks to automated techniques such as message personalization, email automation and subscriber segmentation. And ironically, although automation helps make it happen, a little personal touch goes a long way.
Personalizing automatic email campaigns resulted in 500% higher conversions compared to traditional mass email campaigns. Email providers like Google are getting smarter. They can tell when mass emails are sent, which means many generic campaigns tend to end up in spam folders. By contrast, personalized email campaigns are more likely to land in their proper inboxes. While this requires some more work on the front end, the results are worth it.
What To Look For
A marketing automation feature that’s often overlooked is integration with a company’s existing technology stack. An Ascend2 survey noted only 7% of marketers feel their marketing automation solution is entirely integrated with their tech toolset.
Companies rely on several existing apps to keep their marketing running. Utilizing a marketing automation platform that supports plug-ins and smooth integration into existing services is a smart move. Not everything has to be reinvented from scratch. The more integration a platform has with your existing tech stack, the better your workflow will be.
Finding The Light
So where do you begin to find the right automation platform? First, make a list of the existing marketing tools you already use that could benefit from automation. It could be something as simple as a monthly newsletter or as complex as a customized branching CTA based on a user’s shopping preferences. Start visiting sites of marketing automation solutions that deliver the solutions you’re craving.
Delve into reviews or comments for perspective outside the company. When you’ve got your prospects narrowed down, schedule some initial calls to feel out cost, usability, integration with your current setup and customer support as you navigate the platform. It can take extra time to do research upfront, but it pays off by helping you find a better fit.
When you’re all done and have picked a marketing automation solution, you won’t be sorry with the time you’ve saved and the efficiency you’ve gained.
Ultimately, by leveraging advanced features in marketing automation platforms, companies can vastly improve results and opportunities—something companies never want to miss!
While we’re watching the world change quickly (sometimes faster than we can keep up!), marketing automation can offer an invaluable assist that boosts your revenue, instead of forcing you to further tighten your belt.
The following Syed Ahmed, from 2023 provides their research perspective HERE.