Marketing automation allows streamlined measurement of marketing tasks and increases operational efficiency. Calculating marketing ROI for Automation investments helps businesses to measure their performance across various channels.
As per a recent report by Report Linker,” Marketing Automation Global Market Report 2022”, in 2026, the marketing automation platform market is expected to grow to $9.36 billion in 2026 at a CAGR of 12.5%. Here are a few factors to account for while calculating the ROI of a Marketing Automation Platform.
Time and Scalability
Marketing automation helps businesses to save time spent on a set of tasks utilizing an automated platform. It allows marketers to connect with customers and prospects efficiently and in an engaging manner. This improves customer experience with personalized campaigns, productivity, customer retention, and a robust return on investment. E-commerce businesses often require need to communicate with customers on numerous scales. However, the time taken to provide hand-operated emails and texts to your customers or follow-up can stagger the business’ ability to grow in the market.
A marketing automation platform decreases timelines by automating personalized conversations with the capacity to scale hundreds of customers at any given time.
Customer Personalization, Experience, and Lifetime Value
Most companies see increased conversion rates upon personalizing customer communication. Companies need to perceive every customer’s previous purchases and interactions by manually tailoring the communication on each channel, which is quite challenging to achieve with growing businesses. This necessitates the utilization of marketing automation technology. A marketing automation platform enables businesses to cater to the customers’ particular needs, ensuring proper delivery at any scale and giving better opportunities to engage customers with the brand. Satisfied customers reflect the organization’s CSAT/ NPS scores.
With growing competition, a typical customer can choose from numerous brands when making purchase decisions. Companies can get a comprehensive view of the current performance with the help of marketing automation. Simultaneously, it helps in the identification of the varying preferences of consumers across numerous segments and lifecycles. This allows marketers to plan and adapt campaigns on the go. At the same time, it also allows businesses to remain competitive by reducing the number of consumers that walk away from their competitors.
Productivity, Scheduling, and Organization
Marketing automation increases productivity by ensuring repetitive care of the tasks with intelligent automation, allowing marketers to tackle things that require a more manual approach. This boosts productivity by streamlining daily tasks without backlogs. Furthermore, marketing automation helps businesses remain consistent with their efforts and keeps tasks well organized.
Minimal Staff Costs and Maximum Revenue
Marketing automation saves costs of resources that companies need to invest in to run different business operations and processes. It can integrate with tools like a CRM, making it easier for the support team to remain on top of conversations, saving time integrating data across varied platforms. Marketing platforms allow businesses to personalize marketing campaigns across all stages of a customer lifecycle since a marketing automation platform unlocks many upsell and cross-sell opportunities. Higher personalization and proactive engagement effectively increase revenue. It will also enable the marketers to visualize different products and offers across various target customer segments allowing them to strategize better to improve profits.
Responding to hundred leads manually results in inadequate context during communication. A marketing automation platform helps to procure follow-up with leads promptly. Therefore, leading to better lead engagement, segmentation, and conversions.
As per a recent report by Emailmonday,” The Ultimate Marketing Automation statistics overview,” 56% of companies are currently using Marketing automation on average”. Hence, businesses need to station smart automation that allows custom workflows and higher visibility from entire digital touchpoints. It also helps in strategic and sustainable growth in competitive and volatile markets.