Do you know your return on investment for your last online campaign? Do you have a good understanding of how your marketing is generating leads and customers? If not, don’t feel bad. You are in the same boat as thousands of other marketers.
The dawn of the digital age brought new techniques and opportunities that have helped marketers dramatically extend their reach. The unintended externality of this new technology was an increased number of channels to manage, more complex customer interactions, and stretched resources. It became nearly impossible to get a clear picture of marketing performance.
All that is changing now, with the advent of solutions like marketing automation that help marketers to manage various channels and campaigns, track and value conversion points, and provide closed-loop reporting on marketing performance.
Marketers now have access to a previously unimaginable quantity of useful data. This ability to determine the true value of marketing efforts allows marketing departments to make informed decisions like never before. Here are three ways marketing automation data is helping marketers change the game.
Justify Marketing Budget
This advantage cannot be understated. Accurately tracking ROI has always been the holy grail for marketers and failing to do so has kept marketing on the sidelines of budgeting and strategy meetings for years. The closed-loop reporting provided by marketing automation solutions raises the accountability of the marketing department, better positioning the department to obtain a larger piece of the budget.
Create Most Effective Marketing Mix
The ability to track and value the channels that are driving your conversions will allow you to structure your marketing mix to maximize your lead generation. Marketing automation solutions go beyond the number of conversions generated by each channel and provide detailed information about the quality of those conversions. Know which channels are providing the highest quality leads and how to balance that channel in your marketing mix.
Understand the Sales Cycle
B2B Sales cycles tend to be longer and more complex than those of the B2C market. Customers may be considering multiple options, circling back to your company through numerous sources throughout the sales cycle. Basic web analytics will track these visits as separate events, but marketing automation solutions provide a complete story of how your customers interact with your company leading up to a sale, where their pain points are, and how to structure your marketing to better meet their needs.
The marketing ecosystem is getting more complex and harder to manage each day. You deserve a solution that will help you make sense of your marketing, better inform your decisions, and shake the old marketing paradigm of no accountability.