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As conditions stand, it’s tough to find an easy and economical way to improve your business’s efficiency. Companies are still reeling from the effects of the pandemic. That’s why it is essential to try different strategies like taking out microloans for running marketing automation during this trying period.
Marketing automation can help reduce your overhead and give you a high ROI on your marketing efforts. That’s where microloans come in handy, as they assist in funding the automation process without stretching your business’ resources too thin.
Marketing automation is a darling of companies since they realized a 77% increase in conversions when using the software, according to Invesp. Keep reading to learn tips on improving your business through this process and how microloans will help you achieve that.
What is Marketing Automation, and how Does it Work
Marketing automation is the digitizing of everyday marketing operations. The process utilizes technology and software to automate recurring marketing functions. It automatically takes your potential customers through your sales funnel without the need for much human input.
That helps an organization create the most efficient and effective customer journey processes that lead to better conversion rates. In addition, automating marketing tasks allows you to create a more personalized experience for your customers.
Benefits of Using Marketing Automation
a) Increased Efficiency
Reducing the number of marketing tasks done manually drastically increases efficiency. Marketing automation takes mundane, repeat tasks like posting on social media and automates them. That frees up your marketing resources and team to concentrate on other projects. In addition, it makes the optimization of processes more straightforward.
b) Data Analysis
A data analysis task that once would have required the entire marketing team’s undertaking now only takes a few clicks of a button. Generating marketing and customer reports is easier using software than compiling them from documents manually.
It also reduces the risk of mistakes creeping in during the gathering process. Accurate reporting helps to take the proper steps to fix or optimize your marketing funnel.
c) Better Conversion Rates
Accurate reporting, process efficiency, and personalized attention to leads often add to better conversion rates. Additionally, marketing automation gives you better situational awareness and helps you respond to your target audience in an appealing way that drives them down your funnel.
d) Scalability
Automating your marketing enables you to map out the process and standardize it. That helps train new team members and quantify your marketing efforts’ effectiveness. Since it’s a repeatable and measurable process, ramping the marketing efforts up or down depending on the situation is much easier.
How to Get Started With Marketing Automation
1. Study Your Customers’ Data
Marketing automation provides a framework for learning about your customers. That allows you to get the most out of the process by visualizing interactions at every touchpoint. In addition, it gives you a sense of their experiences with your company and enables you to maintain multiple relationships simultaneously.
Furthermore, learning your customers’ demographics, psychographics, and geographics is much easier with all this data. It makes segmenting your audience for targeting much more efficient.
2. Map Your Sales Funnel
Your sales funnel your business’s process to turn its target audience into paying customers. It’s how you guide a buyer from the instance they discover your brand to when they convert into a paying customer.
Understanding your process or sales funnel is essential to getting conversions consistently. Automating your marketing will help map out this process and optimize it for greater success.
3. Formulate Your Marketing Strategy
Once you understand who your customers are and how you will convert them. It’s time to formulate a marketing strategy to get their attention. Depending on your goals, ensure your content addresses their pain points and includes calls to action leading to the desired conversion.
4. Pick Your Medium
Build your emailing list and ensure you have enough strong contacts to reach out to with your messaging. You can also use social media to boost your efforts and drive traffic and conversions. Fortunately, marketing automation makes this a breeze, and you’ll be glad you took out microloans to invest in digitization.
Tips for Using Marketing Automation Effectively
i) Create a Strategy
To achieve the intended objective, you need to have a clear path or strategy for every step taken. That will help focus your efforts toward an end that encapsulates the bigger picture. In addition, a process enables you to make the most appropriate choices, such as software and marketing automation campaign strategy.
ii) Set Clear Goals
It’s essential to have goals and objectives with every project you undertake, not just marketing automation. So be clear on what you want to achieve with your automation before embarking on the challenge.
iii) Link Your Marketing to Your Sales
The sales and marketing teams should collaborate to ensure that your marketing automation efforts only drive qualified leads to the bottom of the funnel. These two departments working together on tasks like lead scoring will lead to better conversion rates and customer satisfaction.
iv) Pick the Right Marketing Automation Tool
Choose the tool that will best suit your needs depending on the nature and objectives of your business. The automation tool should incorporate into your already existing process and applications seamlessly.
Case Studies of Businesses That Have Successfully Used Marketing Automation
a) Swiss Education Group (SEG)
The hospitality education organization sought to automate the lead nurturing and collaboration between sales and marketing by focusing on closing deals instead of persisting on dead ends.
By sending hundreds of newsletters and follow emails to their target audience, they improved the read rate by 28%, boosted revenue, increased course enrollment, and enhanced collaboration between sales and marketing.
b) TruWood
The watch selling eCommerce business had issues with a high churn rate. They used SMSBump to launch their market automation campaign, targeting high-value cart abandonment.
After sending the target pictures of the product, they encouraged purchase using enticing limited period discounts. Consequently, TruWood recorded a 35X ROI.
c) Paper Style
The company enlisted WareoWear to help in the marketing automation campaign aimed at brides and their friends. They registered a 330% increase in revenue.
PaperStyle targeted their action on other websites and how they interacted with their emails. For instance, if a bride bought a wedding dress, they would get an email on bridal jewelry ideas. On the other hand, if a friend-of-bride purchased a hair tie, they would get wedding gift ideas.
Conclusion
Marketing is an essential business activity that ensures you meet the business’ sales objectives. However, it takes a lot of coordination and painstaking work to get the best ROI on your efforts. Since the old practices just don’t cut it anymore, this process is here to save the day.
So if you would also like to make the shift to marketing automation, visit the site provided at the top of this article to learn more about our microloans for funding an automation campaign.
