As a digital marketer, we are comfortable with the idea that whatever we do should have an element of tracking. The days of hypothetical marketing are not gone though. There are huge opportunities to quantify traditional marketing effects as well as cross channel marketing. The huge benefit is that the tracking and campaign structure with an experienced marketer at the helm, can provide you with more insight now than ever before. The tools that marketers use do not come cheap, but are worth the money if they are implemented and leveraged in the right way.
The following are a few ways that spending your marketing money on marketing automation is worth the expense:
1) Lead Value: Too often lead generation finds it sufficient to understand that there are leads coming in, and that a good portion of them are closing. That would be like saying that bears live in the woods, therefore you should go to the forest to see one – kinda lacking in precision a bit. Your marketing automation should be able to connect your activities that are garnering attention and originating the leads, and tie that all the way through the revenue that the lead generates. Only then can you adjust your ad spend according to specific lead values, rather than concentrate only on lead volume to hopefully increase your sales.
2) Conversion Pathing: You may be asking yourself why you would want to have anything more than what is offered as part of your Google Analytics account. The answer lies in the details. A good marketing automation system should be able to tell you when someone visits your site and how often they come back. It should be able to tell you what they engage with and how many visits it took before they decided to engage your company. These are not pieces of data that are in aggregate, but rather on a visitor by visitor level with information so you can help them at critical moments in their decision process.
3) Logic-based Lead Nurturing: So after you have all of this data and identified someone as a strong prospect for your business, you cannot simply reach out to them with the same tired intro that everyone else on the planet has already worn out. A good marketing automation system takes this information and allows you to tailor lead nurturing activities like product specific and pre-emptive objection specific information based on the prospects viewing or engagement habits (or those who have come before and acted similarly). Some platforms also allow you to tailor the sequence of emails at a schedule that makes sense for the prospect, and only addresses topics they have engaged in previous emails. You can burn more prospective clients with general and worn out emails that feel more like spam than help, so this is a key feature to a good platform.
I do not want to imply that marketing automation is the answer to all issues in lead generation, but when implemented and leveraged correctly, it provides a huge advantage over the way everyone else is used to doing business.