This year’s Super Bowl reached an ultimate high of $5.6 million per 30-second commercial time during the half-time break. It seems like TV commercials are still highly beneficial for companies and generating sales or brand awareness.
However, times have changed significantly in the past decade or so. What marketing used to be and how companies benefited from it had changed from its core when the internet technologies took off and started making a serious impact on our lives.
Today, marketing is such an enormous field that the term marketing itself is not able to explain what it is anymore. There are so many different issues that a marketer can be focused on. It’s almost impossible for one person to take care of every aspect.
All this made the marketing automation a feature that companies are not installing just for a better experience. They are doing it because it turned out to be something that’s essential for them.
If you want to know more about it, please read on to learn the 5 things you absolutely must know if you’re involved in marketing or business, in general. First, however, let’s see some more about what marketing automation is.
Marketing automation is a specialized software that helps companies deal with different parts of the marketing process. Depending on the type of software, automation can help with sending messages to leads on different platforms – mail, social networks, web, and text. It can also be very helpful with other standard issues like planning, scheduling, and so on. Now, let’s take a look at some of the most important features of automation everyone must know.
A report that was named State of Digital Marketing claims that automation saves time. In fact, 74% of those using it see this benefit as the most important one of all.
Marketing automation helps the entire team get rid of some pretty tedious and time-consuming activities. Writing tons of mails, sorting client data, sending out scheduled posts about different tasks – all of them are taken over by the software. That makes marketers free to do other, more important jobs. Even more important, it makes the workers less stressed and makes them enjoy their work.
According to marketing automation statistics, the industry is going to weigh $25.1 billion by 2023. It is said that it sees a rise of 14% each year. This is the main reason why more than half of the companies around the world use some kind of automation software.
Every business has a goal of creating profits. Of course, not by any means necessary, but seeing a rise in profits is one of the most important objectives of every company. That’s why the CEOs and company executives are always striving for new ideas and ways to make this happen. Installing marketing automation software is a great way to take down unnecessary spent time of employees who can focus on other more important jobs, and with it, make double work for the same amount spent on it.
AI stands for Artificial Intelligence. This technology dates back to the previous century, but it started making significant changes in the industry only in the last decade. When it comes to marketing, it seems like AI is doing some amazing work.
Most of the AI software is being used in chatbots and ecommerce web pages that are trying to achieve as better customer service as possible. However, it finds its use in other sectors too. The stats show that the industry, in general, sees a fantastic growth of 56% CAGR. The projections are it’s going to reach $170 billion by the year 2025.
These numbers make developers, programmers, and everyone involved in the industry put even more effort into making the AI useful. Since marketing is already the core of its use, you can be sure that marketing automation will see great benefits from it.
How? At the moment, a big part of the marketing automation is being used for storing and arranging leads’ data. A company might need to deal with thousands of leads, and the automation software can do a much better job in this field. Now, imagine how much more can be done if the software can learn by itself, what can be done with all this information. How much more benefits can the company get if the AI-driven software can not just store lead’s data, but if it can move forward and manage to convert the leads.
One of the biggest challenges in marketing right now is getting quality leads. Some executives and marketers believe that buying mail lists is a great way to do it, but that’s not even near the truth.
The marketing automation is helping with generating leads big time. A research by Harvard Business Review says that companies who manage to follow up with their leads in the first hour are 60 times more likely to be successful compared to those who are going to answer in the next 24 hours.
With automation software, this time is being shortened to less than a minute.
Did you know that around 75% of all ecommerce customers abandon their carts? They simply choose a product, put it in the cart, but never proceed to checkout. The marketing automation software manages to retrieve some of these lost sales.
When a person leaves its cart, the system automatically sends an email with a reminder. A lot of times, people disconnect by mistake and simply can’t find the chosen product again. The email helps them come back easily and proceed to checkout.
These 5 points make a clear idea about what marketing automation really is and what it is used for. Moreover, every business owner or executive can see the benefits from it and how it is going to shape the industry in the future. Not getting a piece of the action may not cost you a lot at the moment, but it will soon become an essence of the marketing world.