If you can build your business case for marketing automation on its ability to save you time and money, that’s generally the best way to get CFO signoff. Here are three bulletproof ways to save your company money with marketing automation:
• Less Human Resources — Modern relationship marketing requires you to interact with customers in a modern way. For example, say you want the ability to follow up on marketing emails by sending different emails to those who responded and those who didn’t. Without marketing automation, that means a lot of
overhead in terms of hiring humans to do the work manually. By investing in the technology to automate these processes, companies are able to reduce the campaign management budget by 80%.
• D.I.Y. Marketing — Marketing automation saves time and money by allowing companies to D.I.Y. (Do It Yourself). Instead of outsourcing things like landing pages to expensive design rms, marketing automation technology gives the ability build marketing campaigns in-house. Not only does this save money, but it also saves time and makes a company more agile.
• Simplifying Approval and Compliance — Marketing automation saves time and money by simplifying approval and compliance processes. Especially for large companies or those in highly regulated industries, sending a marketing campaign might require many levels of sign-off. Marketing automation simpli es and standardizes this process, and means fewer spreadsheets to
track and update.
2. Measure and Optimize Marketing Investments
In today’s world it’s important to be able to measure Marketing under pressure and prove that it can deliver. Executive teams are eager for analytics, and campaigns like pay-per-click are proving that Marketing can (and should) be measurable.
Marketing automation helps measure and optimize your marketing investments in four ways:
• A system of record — Marketing automation provides the core system of record for all your marketing information. If you don’t have a system of record for your marketing efforts, you can’t measure.
• Measure and test — The ability to run tests (this landing page vs. that landing page; this offer vs. that offer) helps your company learn what works over time, which ultimately gives you better optimization and more revenue.
• Prove program ROI — What is the speci c amount of revenue generation from a marketing program? How can the results be compared? Marketing automation dials into which marketing campaigns are directly affecting revenue. Thus, you can spend
your money where it’s proven to work best.
• Funnel impact — How does your funnel work? What is your conversation rate from a name into a lead? From an opportunity to a close? Marketing automation will help you understand how leads are moving through your funnel and help you make forecasts around the nuances of the impact marketing has on revenue.
Gleaning all of this information about your marketing efforts allows your company to optimize its marketing decisions to directly impact revenue growth.
3. Faster Revenue Growth
Marketing automation drives revenue by helping you:
• Focus on the right customers.
• Develop relationships before they
are ready to make a purchase.
• Engage at the right time.
• Scale personalized interactions with each customer.
After the purchase, marketing automation lets companies more effectively and ef ciently build and retain long-term customer relationships. It does this by enabling companies to:
• Engage in personalized and interactive multi-channel dialogues with their prospects and customers.
• Capture data about, analyze and respond to consumer behavior both online and of ine.
• Closely integrate marketing activities and information with other parts of the organization, such as sales or call centers, to create a seamless experience for buyers.
The result is deep, long-lasting relationships that increase customer lifetime value.