Marketing investments are undeniably an expensive proposition not for only marketers, but all of us. That is what makes it important to track your Return on Investment (ROI) on your marketing investment. If not properly tracked, your marketing efforts can go down the drain. Most of the landing pages convert less than 4% of the users who land on the page. Similarly, ad campaigns often have to struggle with low click-through rates, which are not more than 3-5%. The ROI of many trades shows generally does not go beyond their expense accounts.
That is to say, to make sure your marketing efforts are fruitful, it is important to focus on incremental improvements. However, to achieve this, as a marketer you need business intelligence or data that makes sense and you need it on a regular basis. It is essential because if the information you need is not accessible or reliable, then it wouldn’t have any value to anyone.
That is where the role of marketing automation comes into play. It is an effective way of keeping track of your ROI.
If you are a startup and not familiar with the phenomenon of marketing automation or how it can be advantageous in terms of keeping you updated on your marketing initiatives, here is what you should know.
What is Marketing Automation?
Marketing automation refers to a technology that automates and streamlines marketing tasks to help companies increase their operational efficiency. It is a way to increase your revenue. To put it simply, companies do not actually purchase marketing automation tools to automate their marketing; instead, it is often purchased to:
- Measure marketing ROI
- Generate high-quality sales leads
- Grow a company’s revenue faster
- Save money and time in marketing
The significance of Marketing Automation in Keeping Track of ROI
There is no denying that marketing automation has been heavily adopted by various organizations worldwide. According to a survey conducted by Clever Touch, there is a large proportion of marketers who have incorporated marketing automation while others are inclined toward bringing it into their business. Marketers find marketing automation tremendously advantageous when it comes to measuring ROI.
The technology has really taken over as it has helped track and deliver amazing ROI for 79 percent of the companies. B2B marketers in the United States have also favoured marketing automation to generate more sales leads. It is not only the number of sales leads that marketing automation has optimally influenced, but also the quality of the leads.
The innovative technology has really helped US organizations measure correct prospect data. Relieving compliance issues as well as data quality, marketing automation allows companies to track their ROI. In addition to improving ROI tracking, marketing automation can help expedite sales cycles, improve better customer engagement and secure alignment between sales and marketing.
Overall, marketing automation can help businesses thrive while delivering positive ROI outcomes.