The first question which may cloud our mind while making a business case for marketing automation would be – is marketing automation here to stay? Is it worth allocating budget and resources for this marketing technology? Recent survey findings by Emailmonday on “The Ultimate Marketing Automation stats” can help clear up your questions and push you to the next step. The findings concluded that around 51 percent of organizations have started implementing marketing automation software, with more than 58 percent of B2B organizations intending to implement this marketing technology to attain higher rate of ROI from their marketing initiatives.
What are the benefits of marketing automation adoption?
- According to HubSpot, about 70 percent of marketers claim lead conversion is the main reason why they want to rely on marketing automation.
- Marketing technology expenses is expected to grow and surpass that of the spending on advertising, as per Gartner.
- Marketers and companies that already adopted automation software have reported to have doubled their lead generation results than their counterparts who are still relying on mass email blast software.
- Marketers have claimed to augment the effectiveness of their messages and communication by migrating their marketing process to the marketing automation platform.
- Around 67 percent of existing users reported at least 10 percent spike in sales opportunities generated from practicing lead nurturing using marketing automation software.
- About 64 percent of marketers have witnessed plenty of benefits and improvements in results within the first six months after adopting marketing automation technology.
- According to a Demand Gen Report, nurtured leads through marketing automation can result in nearly 20 percent increase in sales opportunities.
Unfortunately, budget constraints have been the main cause why many (37 percent) organizations and marketers have failed to benefit from this marketing automation technology, if a survey finding by Pepper Global is to be believed. So, could you let that budget hindrance stop your organizations from increasing the scope of ROI? If you are already inspired to implement marketing automation tech to boost your campaign performance, lead generation, lead nurturing efficiency, and revenues, then here is a perfect roadmap to present a persuasive and insightful business case for marketing automation.
Here is how to begin… scroll through following steps to put together a compelling business case for marketing automation and get marketing budget approval from leadership team.
First of all, make sure you have clear marketing objectives in place before you start implementing this or any marketing technology. This technology will not be an overall fix for all types of marketing and sales challenges, but, it works a great deal in overcoming major issues. So, it is time to identify three major marketing goals before adopting marketing automation.
Make sure your marketing goals are all measurable, scalable and you can visualize the end results or success of the program.
Once you have laid the marketing goals, identify the kind of benefits you expect from the marketing automation platform. In addition, keep in mind that those benefits must align with your marketing objectives and the focus must be consistent based on those major issues you want to address by implementing the technology. The more specific you get about the expected result, the greater chances of attaining those and increasing rate of conversions, for example, set a value to the goal, such as 30% increase in conversion.
Next, consider the components you want to mostly use for our campaigns, such as, website monitoring, email, SEO tracking, social media integration, CRM integration etc. You need to prioritize on those components and features of marketing automation you will use. Making it so you can focus on and utilize your resources on those tools that matter the most for your business goals.
Next, you need to narrow down upon all sources and dependencies of data to run optimized and data-driven marketing campaigns such as, CRM, prospects data, customer data, website tracking data or campaign data.
Now, prioritize setting marketing budget by considering real-world schedule, costs of implementation etc. and take in to account milestones such as, technologies used, different phases, time spent for training, building expertise in the technology to analyze how and at when your goals can be achieved.
Which analytics or reporting packages do you need for your campaigns? Figure out the cost essential metrics you need to measure effectiveness of campaigns and the reporting plans required to attain marketing success.
In the next step, you need to calculate return on your investment in marketing automation platform by taking in to account the volume of marketing activity needed for meeting the goals (lead generation, opportunities, conversions, etc.). Also, you need to consider the present cost of marketing without the technology and how much it will increase on implementing the automation technology. Lastly, you need to consider presented as well as expected profit improvements after implementation while calculating ROI.
Next, you need to take thorough assessment of risks of implementing marketing automation technology. Also identify the risks related to people handling the software, how efficient are they with the software, and the scopes of alleviating those risks.
Lastly, you need to take an estimation of the timelines and delivery dates by measuring the time to allocate for the entire adoption process. Do you need professional help or consultation to implement a marketing automation platform or provide relevant teams the training they need to get your marketing process running seamlessly? Make sure you get in touch with the marketing automation experts who are just one call ayay from you – dial (408) 502 6765 now or you can find us on our Facebook, Twitter, and LinkedIn channels.