In the age of instant gratification thanks to hyper-personalised and fast paced digital marketing, customer experience has never been more important.
In fact, this growing importance has fuelled an obsession with marketing automation technology to better handle complex tasks in a more efficient way in order to promote enhanced customer experiences.
Not to mention, a recent report by Econsultancy revealed that one-third of marketers have more customer data than they could ever analyse, making marketing automation technologies a lucrative opportunity in order to analyse complex data sets, gather insights and even act on these insights instantaneously.
However, while many marketers realise the importance that automation technologies can play in the customer journey, Econsultancy also revealed that less than 5% of Australian and New Zealand marketers deemed their automated marketing email campaigns to be “very successful”. Meanwhile, 90% of marketing respondents revealed that their automation competencies were rudimentary at best. Therefore, our online advertising agency, RGC Digital Marketing, has complied the latest information in relation to marketing automation technologies and how to best optimise the technology to improve your current marketing and advertising strategies and enhance customer journeys.
What is marketing automation?
Hubspot defines marketing automation as software that helps to automate various marketing actions that are included in a brands overall digital marketing strategy. This technology helps marketing teams standardise often lengthy processes, target highly tailored audiences, amalgamate data, analyse insights and personalise advertising messages and content in a more efficient way. Such automated technology allows marketers to use a range of algorithms and analytics in order to tailor messages specifically to various target prospects depending on where they are in the marketing funnel or buying process, past interactions, spending habits and more.
Why should you use automated marketing technology?
As brands such as Amazon, Netflix and Facebook increasingly adopt personalised marketing tactics to engage their audiences, consumers have begun to expect by personalisation in forms of advertising. In fact, these brands have even been identified by consumers to be the top digital platforms that provide the best customer experiences, according to a recent report by Marketing Insider Group. Furthermore, educational marketing brand, Moz, identified that sending out personalised emails generates six times more revenue in comparison to non-personalised email campaigns. As generic messages no longer suffice or engage audiences, automated marketing technologies provide the ability to personalise messages in a less complex, more efficient and practical manner.
Undoubtedly, utilising a service that helps streamline the process for personalise message helps to engage consumers and can even improve conversion rates. In fact, the reason many businesses implement marketing automation in the first place is to encourage higher conversion rates and improve sales. Moz even reports that marketers who utilise automated technologies have 53% higher conversion rates in comparison to brands that don’t. Furthermore, brands who utilise marketing automation also experience 3.1% higher annual revenue growth over their competitors who have not implemented automated systems. Therefore, it is this highly efficient and personalised marketing strategy that provides a lucrative opportunity for marketers to keep consumers engaged in a more practical way. Automated marketing also helps to increase the potential for conversions, sales or repeated purchases.
What are some examples of automated marketing applications?
There are many ways in which marketers are using automated systems to improve customer experience and simplify their online marketing and advertising processes. The most common include the automation of email marketing campaigns as well as automating lead generation or nurturing. Automated marketing can also be used for A/B split testing purposes, social media campaigns and to create effective lead pages.
As aforementioned, Netflix has been identified as one of the leading brands for digital customer experiences in which they place a great emphasis on automated technologies to engage their consumers. In fact, in 2009 the company even offered a $1 million prize to the organisation who could deliver the most precise algorithm that would predict customer preferences to improve the customer journey. Furthermore, it is alleged that these algorithms have helped the brand save $1 billion a year in value from customer retention. Through their investment in algorithms and the use of marketing automation for email marketing campaigns, Netflix is able to provide personalised welcome messages and personalised product recommendations which has led to 125 million worldwide subscribers as of May this year, according to Forbes.
Meanwhile, Marketo states that approximately 50% of all leads in any given system are not ready to buy, while 80% of all new leads will never actually convert into sales. However marketing automation platforms provide a more efficient way to present consumers wit something of value at an unprecedented scale, which can increase the likelihood of conversions. In fact, according to global research and advisory firm, Forrester, using automated technologies to effectively nurture leads results in 50% more sales-ready leads at a 33% lower cost. Therefore, with the help of automated processes, marketers can experience enhanced engagement rates, increased conversions and greater revenue.
How to optimise your marketing automation platforms?
There is a common misconception that automated technologies means that you can simply set and forget. Automated marketing is simply a tool to help complete complex processes and achieve specific results in a more efficient manner. Therefore, in order to yield optimal results, optimisation is key.
In May 2018, research company Ascend 2 surveyed 250 marketing professionals in order to determine the most successful ways in which marketing automation should be optimised to see results. The survey identified that the most important priority in relation to optimising marketing automation is to create a successful strategy. To do so, marketers need to start by defining their goals, identifying whom to target and map out user flows to visualise where consumers are in the marketing funnel and the steps they need to take in order to achieve the desired action. While the second most popular priority was to improve the customer experience, this cannot be effectively executed if a sound strategy has not been put in place.
Additionally, marketing automation platform, Sailthru, notes that data i
s an essential component to effectively optimise such platforms and campaigns. While marketing automation is designed to help make sense of the data, the right data sets need to be applied. For example, the use of real-time data can help generate engaging content marketing campaigns that effectively respond to specific topics, events or trends to inspire an action. Additionally, behavioural data and customer analytics can help construct predictions and provide consumers with personalised recommendations to generate engagement and encourage conversions.
Sailthru also identifies that while the optimisation of automated processes relies on goals and data, experimentation also plays a vital role in ensuring the best success. Through experimentation and testing, marketers are able to identify the messages that work well, and those that do not resonate with audiences. Through testing methods, marketers can also determine the most effective messages for various stages of the customer journey.
In today’s digitally driven world, customer experiences have become highly fragmented. In order to enhance these customer experiences and constantly engage audiences with a more personalised journey, marketers are relying on automated technologies to achieve this in a more practical way. Through highly optimised marketing automation, consumers can experience improved journeys in a way that has previously been too complex to manage. These improved experiences result in higher conversion rates and increased revenues for brands who implement the technology successfully as a part of their overall digital marketing and advertising services.
At RGC Digital Marketing, we are an award-winning digital marketing agency with expertise in a variety of online marketing services which include the use of automated marketing technology to help connect consumers to brands. To learn more about marketing automation and how it can benefit your brand, please contact Richard on (02) 8883 2988 or email firstname.lastname@example.org