How many companies have you worked in that have a clear understanding of their company’s vision & how they hope to achieve it? How many have a clear framework to actually define & prioritise what they work on? How many people in your team would be able to tell you exactly that they are doing, why, and how it ties into their team & company objectives?
The number of enterprises which adopted or plan to adopt marketing automation is constantly growing. A report by Social Media Today shows that nearly 75 percent of marketers use at least one tool for automating marketing activities. And according to Statista, the size of global marketing automation market is expected to hit 25.1 billion U.S. dollars by 2023. Hence, it’s no wonder that conversations about marketing automation are quite common among marketers, CEOs, and CTOs.
Yet, as we see from the practice, not all of those people really understand what it is and why a company needs it. Even fewer of them know how to automate marketing processes right. We bet you have also heard of so-called marketing automation failures when someone invested lots of money in automation software and received no positive results at the end of the day.
In this article, we will try to sort thing out so you can do everything correctly to make your business grow with the help of marketing automation.
What is marketing automation?
In general, marketing automation is the utilization of software aimed at automating the company’s marketing activities. However, such definition is oversimplified and it does not take into account some crucial aspects. So let’s look at the whole concept in greater detail.
The foremost thing you should understand about marketing automation is that it’s not limited just to purchasing the software that would do all the work for you. To receive the expected return on investment, you should use the right tools in the right way. Otherwise, such tools can do more harm than good to your business.
Let’s take a typical situation when a company decides to automate its email marketing process. With the help of automation software, a sales team can send out promotional emails to the whole customer list in a simple and fast way. But would it help them close more sales? Well, maybe, but only in a short-term perspective. At the same time, it’s much more likely that a lot of people would want to unsubscribe from the company’s emails not to receive irrelevant information in the future.
So the main purpose of marketing automation is to deliver the right messages to the right people at the right time rather than just automate marketing activities. Hence, marketing automation software should help you nurture leads and, as a result, turn them into customers rather than do the hard sell automatically.
Key functions of marketing automation software
When it comes to marketing automation, the first thing that comes into mind is email marketing. Sending out thousands of emails in one click can indeed free up a significant part of your team's working time. However, marketing automation software can do much more than that. The exact feature-set of such software will depend on the provider. But let’s take a look at the most basic features and functionality most of them offer.
To get more leads, you need to get more traffic to your website in the first place. Marketing automation software usually offers a set of Search Engine Optimization tools. For instance, it can provide you with some recommendations for keywords and let you compare your keywords with the ones your competitors have.
Personalization is probably one of the greatest benefits marketing automation brings. It creates the feeling that the company knows you by name and this helps brands build loyalty. For example, personalization tools will allow you to personalize email content and subject lines so your customers will get highly-targeted information tailored to their needs and product interests.
Marketing automation is not something you set and forget. It’s a continuous process that helps you get to know your customers better and learn from their behavior. That’s why we recommend you to opt for the software that allows for A/B testing of landing pages and emails.
Tracking customer behavior
Tracking behavior is essential in terms of providing customers with the most relevant content and spotting the hottest leads. This function will let you build strong relationships with customers and properly target your marketing efforts.
By dividing your customers into groups with some common characteristics you can talk to each of them individually but in an automated way. It’s worth mentioning that the segments are dynamic, meaning that a customer can migrate from one segment to another based on his or her behavior. Also, one person may belong to several segments.
To get the most out of your marketing activities, you need to always measure and analyze. The analytics function will help you see what works and what doesn’t by allowing you to create reports, calculate your marketing ROI, monitor campaign performance, etc.
Benefits you get with marketing automation
Now, it’s high time to speak about return on investment you may expect after adopting marketing automation. Of course, everything will depend on a variety of factors, for instance, your business goals and inbound marketing strategy, software you’ll choose, and the way you’ll use different tools. But we hope the numbers and statistics below will allow you to see the full potential of marketing automation.
This is the number one reason why companies need marketing automation software. Because let’s be honest: the ultimate goal of any business is making money. And if something can help you earn more, ignoring it is not a reasonable decision. The statistics show that companies which implemented marketing automation managed to increase their revenue by up to 77 percent.
According to the survey, 70 percent of marketers believe that improved targeting of messages is the most essential benefit marketing automation brings. This is because it allows you to deliver personalized and relevant information to every customer. As a result, you build strong relationships with customers and don’t spend time and money on advertising to people who are not interested in your products.
Increase of conversion rate
If you have good website traffic but close only a few sales a month, investing in a marketing automation platform is the best business decision you can make today. Nearly 80 percent of companies that use marketing automation software said that their number of leads increased. On top of that, 53 percent of such businesses saw the higher conversion rate of leads into paying customers.
Stronger customer engagement
As we already mentioned, marketing automation lets marketers learn from customer behavior and track the performance of campaigns. This naturally results in more refined and targeted marketing strategies that allow brands to build loyalty and stronger relationships with the target audience. According to the survey by Liana Technologies, 45.9 percent of respondents believe that the opportunity to serve customers better is the critical advantage of marketing automation.
Besides all those awesome things we mentioned above, marketing automation helps marketers work more efficiently. By using automation tools, your marketing and sales teams do not have to waste time on routine tasks and can focus on other priorities. A study shows that both business owners (33 percent) and marketers (74 percent) consider saving time a significant advantage of marketing automation.
Top providers of marketing automation software
If you decide to adopt marketing automation, you will quickly find out that the market is full of automation platforms. The good news that you have the opportunity to pick the software that fits you best and has necessary functions to cater to your specific business needs. But the bad news is that not all of the vendors are reliable and not all of the platforms offer the functionality you require to implement your inbound marketing strategy.
To stay on the safe side, we recommend you to choose among market leaders. The quality of their platforms is proven by the huge number of satisfied users. And they are always improving their products to keep the bar high.
Let’s take a brief look at some of the leading providers of marketing automation software you may want to consider.
Marketo is a versatile marketing automation platform that offers rich functionality. Basically, you cannot go wrong with this software because it covers literally everything a modern marketer needs. Among other things, Marketo has a reputation for its analytics and email automation features. It lets users create large customer bases and manage complex marketing processes. So if you expect your business to grow and search for the solution that allows for scalability, Marketo is the best choice for you.
Hubspot is also a popular platform commonly used by marketers. Like Marketo, it offers a wide range of functions that are necessary for running inbound marketing campaigns. The main advantage of HubSpot is its intuitive design. The platform is indeed user-friendly so you don’t need to have any coding background to take advantage of all the features. However, the drawback is that HubSpot may not be as good as Marketo for large enterprises since it’s more focused on small and medium-sized businesses.
Pardot is another marketing automation platform that may help you increase conversion rate and drive sales. It’s a Salesforce solution so its reputation speaks for itself. On top of that, Pardot makes a great emphasis on lead generation by tracking anonymous users from landing pages. The main drawback of this software is its price — Pardot is one of the most expensive solutions on the market today.
Marketing automation success stories
The numbers we mentioned above sound quite impressive. But we also want to show you some real-life examples of marketing automation success. If you still have doubts, we hope these stories will help you make a wise decision.
Panasonic is a global corporation that has millions of customers all over the world. In 2012, it merged its European subsidiaries into one company and the new challenge arose. The company wanted to improve the level of B2B services by integrating all customer databases into one unit. At that time, Panasonic Europe had about 72 websites with over 63,000 web pages in 22 languages. So, as you might have guessed, achieving that goal was not an easy task.
To implement its marketing automation strategy, Panasonic Europe chose Marketo platform. The results they received were profound. Marketing’s contribution to the total company’s revenue grew from 10 to 26 percent in just 18 months! On top of that, the marketing campaign output increased by 5 times.
Randstad is a leading recruitment company, the second largest in the world. It was established more than 50 years ago but didn’t use any marketing automation software up until 2015. As a result, Randstad’s website contained lots of quality content, it showed excellent traffic but all the efforts made by the marketing team were fruitless. The company didn’t have effective tools to capture new leads and nurture them in order to convert in customers. After the adoption of marketing automation, Randstad managed to increase the number of leads by four time and conversion rate by 25 percent in just one year.
Schwab Advisor Services
Schwab Advisor Services is a network of investment advisors who provide wealth management services. Due to the specifics of this business sector, a personal approach to every customer is a crucial factor that defines the effectiveness of the company’s activity. Hence, the main goal of Schwab Advisor Services was to improve the level of personalization and better adjust its marketing activities to the customers’ needs and expectations.
With the help of Marketo, the company saw an increase of 500% in the engagement rate. It also reports a dramatic improvement of the team’s productivity.
The bottom line
The success of most modern businesses heavily depends on technologies, and marketing automation software is one of the most effective tools you can invest in. Like any other automation solution, it will help your marketing and sales teams work more productively. But not only that. With the help of marketing automation platform, you can also increase the revenue and conversion rate, generate more quality leads, close more sales, and build stronger relationships with customers. Hence, if your business is aimed at growth, there is no chance you can go without marketing automation.
Looking for a professional team to help you with marketing automation? Contact us!
Nowadays, more and more businesses opt for cloud-based IT infrastructure. Not only do enterprises choose to develop new applications in the cloud, but they also tend to move their existing software there.
With the emergence of smart home devices like Google Home, Amazon Alexa, and more, everybody is going nuts about connectivity. Wearables such as smartwatches and fitness bands are no longer something rare or unique – a lot of us have and use them on a daily basis. This is also the case with remote-controlled home appliances that are connected to the internet, industrial assets and transportation systems. It’s no wonder that the IoT market size is expected to grow to $457.29 billion by 2020.
The concept of connected devices, more commonly called the Internet of Things (IoT), is not brand new – it was introduced in the early 80s. However, tech experts and ordinary people alike are still excited to see where this is all going.
As professional designers and developers, we also keep track of the current IoT trends. In this article, we’ll take a look at some of the new IoT services and solutions which have the potential to become an integral part of our everyday lives in the near future.
Even more smart stores
It’s only been a year since Amazon opened its first no-checkout Amazon Go store to the public in Seattle. This automation solution has been made possible by the leaps in machine learning and IoT data processing. However, rumor has it that the company already plans its international expansion. As of today, the chain consists of nine smart stores located in the US but we can expect to have the first cashier-less store in the U.K in the nearest future. And, according to Bloomberg, Amazon will open about 3,000 other smart supermarkets by 2021.
The idea of doing shopping by just entering the store, grabbing the groceries and leaving without being checked out still sounds futuristic to a lot of people. Yet, Amazon is not the only company trying to take advantage of advanced shopping technology. Microsoft is already treading on its heels.
Recently, the company announced its partnership with Kroger, a large chain of US supermarkets. And many of the innovative solutions they created are based on IoT technology. Digital shelves, personalized ads and automatic alerts notifying store staff of low inventories are already redefining the way we think about supermarkets.
Reportedly, other retailers around the world will also have an opportunity to buy this solution. In other words, it’s just a matter of time before the smart store like Amazon Go will become an industry standard.
Smart fridges and the smart way of shopping for groceries
Smart grocery management is another category of IoT solutions which are going to take customer shopping experience to the next level. The main idea behind it is simple, yet genius. It is to make smart home products help us do grocery shopping in an easy and time-effective way.
The most famous smart device of this kind that already exists is Samsung Family Hub. Simply put, it’s a smart fridge that, among other things, can take photos of products stored in it. Users then can view such photos via their smartphones as they shop. On top of that, the fridge can mirror a TV, synchronize with calendars, share notes and messages. It can even help its owners control smart lighting, oven, front door video doorbells or security cameras etc. remotely.
The smart home hub
Speaking about front door cameras, they’ll become smart too. At CES 2019, an IoT product called Door View Cam was announced by Ring company. The camera can be used as a regular glass peephole. But besides that, it can stream video to your smartphone and let you talk to anyone standing at your front door.
As a side note, the smart home niche is expected to grow significantly in the near future (see the chart below). In short, the smart home niche can potentially become a gold mine for businesses that are ready to invest in IoT and new technologies. Among the many new products, you’ll find: the smart thermostat, smart speaker, smart plug, smart locks, and more.
Fairytales can come true with smart mirrors
Remember that episode from the fairytale about Snow White when she asks the magic mirror: ‘Mirror, mirror on the wall, who is the fairest of them all?’ ? Well, it no longer sounds like a fairytale because a ‘magic’ mirror can actually answer that question. A smart mirror by Capstone Connected Home was introduced at CES 2019 and it’s expected to be released later this year.
At first glance, this smart mirror looks like a regular mirror and can be used as such. But that is far from all it can do. Besides working as a mirror, this gadget also has Google Assistant built-in, so it can practically do all the things the latter does. For instance, you can check the emails while brushing your teeth, access social media, stream YouTube videos or even play games.
Another cool thing about Capstone Smart Mirror is that you’ll still be able to see yourself through the content shown on the mirror ‘screen’, so it’s not just a huge tablet. We believe that the idea behind this device is very promising and that smart mirrors will make our mornings more pleasant and productive very soon.
IoT provides the future of healthcare
Unlike the previous two types of IoT solutions which aim to make our lives easier, the Internet of Healthcare Things (or IoHT) also helps people feel better and be healthier. It even has the potential to save lives.
The list of ways you can implement this technology in practice is virtually endless. For instance, there are solutions that gather information about the patient’s health and send a notification to a doctor if something is wrong. Other apps help monitor user’s medication schedules, activities and sleep cycles. Some IoT devices can also automatically identify any glitches in medical hardware so they can be fixed in a timely manner.
E-Alert by Philips is a great example of the latter type of IoHT solution. This tool measures key parameters of magnetic resonance imaging and alerts if something in the system doesn’t work properly.
Moreover, there are also IoT devices that help doctors train without the risk of doing any harm to bodies or patients. For instance, Osso VR is a training gadget for surgeons that combines IoT and VR technologies and allows doctors to perform realistic operations in a risk-free virtual reality space. The product was released a few years ago but is still actively discussed on different professional platforms, such as this year’s CES conference.
Although some smart medical devices already exist, we expect even more are in development already. And the IoT technology is versatile and flexible enough to satisfy the needs of any medical organization or hospital.
Pets will live better too
Human beings are not the only creatures who can benefit from the innovative solutions you can create with IoT. With the help of IoT technology, the life of our four-legged friends can be more pleasant and safer as well.
Different pet trackers that utilize GPS technology appeared a few years ago and have already won the hearts of animal owners. You can attach a small sensor to a pets’ collars or embed the sensor into them. This makes it possible to easily find the location of your cat or dog via a smartphone.
People often treat their cats, dogs, hamsters, parrots etc. as family members. That’s why they seek out pet care products that will make their pets happier. One of the most innovative solutions in this regard is a smart bed such as Petrics Smart Pet Bed introduced at CES 2018. Besides controlling the key health parameters (weight, sleep time etc.), it allows for the remote thermostatic control to maintain the temperature that is optimal for a specific breed.
Another popular IoT product that has the potential to become a must-have for any pet parent is a smart feeder. This type of device remotely controls food supply for cats and dogs (portion sizes, feeding schedule etc.). Some also have a camera, allowing the pet owner to check in on the pet remotely.
It’s worth mentioning that quite a few smart feeders have already been created. Yet, the niche is ever-growing so there’s plenty of room for new pet-caring products with more advanced features.
Hyperconnected businesses and IoT manufacturing
One can hardly find a business that will not benefit from IoT-fueled solutions. No matter what your company produces and sells there are always processes that can be automated and done faster and more efficiently.
As of today, a lot of businesses, especially in the manufacturing industry, are successfully harnessing the power of IoT technology. For instance, at the Siemens plants in Germany, 75 percent of the production process is automated. The figure is quite significant, however, Siemens is planning on taking it further by creating a smart plant that is entirely automated.
And Siemens is not alone with its intentions. According to Juniper Research, the number of industrial IoT connections is going to grow to 46 billion in the next four years. This means that all businesses must consider investing in IoT solutions to stay competitive.
IoT is revolutionizing our personal and professional lives
Many IoT solutions may seem revolutionary or even unbelievable to us. However, we have to come to terms with the thought that most aspects of our lives will include IoT devices in the very near future. At the same time, the Internet of Things provides fantastic potential for innovation for businesses. So if you have a brilliant idea for an IoT-based product that will either allow people to handle their routine tasks more easily or help you optimize your business activity, it’s the perfect time to turn it into reality.
Looking for a development team for your next IoT project? Just contact us!