How Important Is Marketing Automation For Your Business In 2020?

marketing automation for business

2019 has almost come to an end, and it was definitely a year of growth. With the rising business opportunities, there came about a considerable boost in the Marketing automation industry as well. There’s an increasing demand for Marketing Automation from business all over the globe, because who wouldn’t opt for automating their marketing workflows and be able to engage and retain their customers better? 

However, getting into 2020, the demand for marketing automation technology is expected to continue to expand at 8.55%, reaching a US$ 6.4 billion market capitalization by 2024. More than 51 % of companies already use Marketing Automation, according to Email Monday. This is expected to be adopted by over 58 percent of companies. 

2020 will work on developing distinctive, engaging experiences that create value to the advanced, super-connected, ever-online consumer, and Marketing Automation will help pave the way to make everything happen.

2020’s marketing automation industry will be influenced and dominated by these top trends. But before we start, let’s capture some knowledge on what marketing automation is.

marketing automation for business

Photo by Blake Wisz on Unsplash

How do you explain Marketing Automation? 

So you’ve built a stunningly optimized website for your business. Let’s guess how it works- your marketing team devotes everyday driving visitors and turning them into leads, and your sales team spends its time collecting, qualifying, organizing and chasing those leads. Is that really effective? Probably not. 

Marketing wants to get on with what they do best – building and executing creative campaigns, and the sales team wants to focus on what they best, i.e selling your product. So, how do you make both teams happy? Well, the solution is Marketing Automation. 

By automating all the repetitive processes, you enable your team to focus on what they do best- bringing new customers and making new sales. Aligning marketing with sales, you empower both the teams to increase hour-line routine time on manual drudgery.

Read more about marketing automation here

How does it work? 

Imagine you’re selling a fitness plan package. Thousands of visitors visit your website with different levels of interest. Unfortunately, 90% of those visitors won’t be willing to buy right away. So how do you capture their interest? – with Lead Generation. 

When someone visits your website, you offer them a free download of your top 10-morning exercise routine. To download, all they have to do is give you their email address and a few other bits of personal information. And that’s it! You’ve just captured yourself a new lead! Once you generate a lead and they match your specific conditions, they’re added to a personalized email drip campaign designed to gradually warm them up from cold lead- someone that’s uninterested in your business to warm leads- someone who’s sales-ready. 

Here’s how you can set it up- After downloading your exercise routines, your workflow will automatically send them emails with your say “10 minutes to killer abs” video. Two days later it sends them your “top 10 healthy fitness recipes” blog post, and a few days later it will again send them something to keep them engaged in your brand. By nurturing your customers in this way, you develop a relationship with them, as well as engage with your business and your product, gradually heating them up as leads. Then you strike when the lead is warm, offering them what you know would be the key to conversion. 

For instance

You know that most people purchase your workout package after attending a webinar. So at this stage of the workflow, your leads are invited to register for your next webinar, eg., “how to plan your best workout routine?”. After attending the webinar, these leads are now tagged in a database as people who watched your fit planned webinar and can automatically be sent the website content, that is even more personalized to them. So by now, your lead must be sizzling and it’s the best time for the system to automatically import them into a CRM. 

Congratulations, with the invaluable help of marketing automation workflows, you’ve successfully sold your product.

The technology has more to offer.

Why not turn this one-time customer to a loyal brand ambassador? Firstly, you can upsell on their first purchase by using email automation to promote the next version up. Then you can cross-sell the necessary or optional accessories or by-products. Finally, you can offer them a cycle-based sell, for example, promote another fitness plan to a specific target audience. Now your ROI has shot through the roof by automatically up-selling, cross-selling and cycle-selling, you’ve turned a one-time purchase to a lifelong customer. 

Hence, this is how marketing automation workflows nurture, warm and ready your leads sales, as well as enable you to try to one-up purchases to a lifelong customer. The best part of all- they do all of this while saving your team time and boosting customer happiness, and not to forget, increase your revenue!

Ideal Marketing Automation trends that will help your business in 2020. 

Now that you know how Marketing Automation works, let’s get onto listing down a few trends to look out for in 2020.

1. Automation is predicted to expand on a massive scale in 2020 

Marketing automation is going to continue into 2020. The main reason being an increasing number of marketers are beginning to realize the value and potential of marketing automation, which is apparently increasing their investment in MarTech. Marketers are expected to spend as much as 32 billion US dollars on marketing automation technology in 2020 based on predictive data analysis. 

  • The number of marketing automation vendors had grown up to 27% in 2018, a clear indicator of the market demand. 
  • The report has also claimed that 75% of the marketers are already using some type of marketing automation tool in their strategy. 
  • Marketing automation has come to recognize as the essential tool for improvising on the bottom-line growth. 

2. Personalized content is making a comeback

The need for personalization is standard in most businesses today. But you would still find a lack of personalization in most of the messages you get from other brands. In 2020, the context will increasingly be driving business growth. Consumers are demanding a relevant experience from the brands they choose to interact with. They expect the brand to know their preferences, and come up with the ideal product recommendations that are worth their while.  

3. AI and Machine Learning 

Predictive personalization is the future of marketing automation for business. Many businesses have started to use AI and Machine learning in their tools to make the overall experience with their brand smarter and better. AI and machine learning together can contribute to better engagement. Some stats for AI and machine learning in marketing automation are: 

  • In 2020, marketers will start using AI and machine learning for a certain extent of content creation. This will help boost engagement efficiency. 
  • Once a user clicks on an ad, the underlying data of the user will be stored into the Machine Learning systems and used for future references such as campaigns, progressing the user life-cycle. 
  • Likewise, AI tools such as Natural Language Processing will be able to leverage the automation in cases of behavioral studies, online activity, understanding speech and language patterns to create a better-personalized user experience.

4. Automated social media marketing 

The total time spent on social media has increased to 143 minutes in 2019. Brands are eyeing on being more visible on your social media screens in 2020. The smart automation of social media marketing will be a part of the strategy, as brands try to reach a multitude of an audience through social media, maintaining a high contextual relevance. 

  • Organic traffic will continue to drop on Facebook. To counter this, companies are trying to improve their ROI by rising their marketing budget for social media. 
  • Social media advertising will be targeted mainly on the Google Adwords platform. 
  • There was a 20% increase in the social media marketing budget in 2019, therefore it is safe to say that it will increase at a higher level in 2020. 
  • Video content will dominate social media marketing. 

5. User retention is going to be critical for businesses 

2020 seems to be a promising year for user retention acquisition. Customer experience will evolve into becoming a cross-function of marketing and predict future campaigns based on user engagement and response. Brands are going to push harder to understand the journey of the user, right from being anonymous to real-time customers. Tracking this journey will deliver real value in terms of growth. According to Bain & Company’s report, a 5% increase in retention will positively affect profitability by 75% and over! 

6. Mobile 1st approach 

Mobile marketing will be a major growth driving factor for businesses. It is the primary mode of communication with the online world. Marketers will aim to create a comprehensive plan for mobile interaction for brands, efficiently leveraging resources such as push and internet alerts, SMS, mobile wallet and in-app notifications. Marketing Automation for business will be the tool around these campaigns. Weaving an intricate network and ensuring that they operate on a consistent scale.

7. Integrated cross-channel marketing will dominate 

Compared to working in separate silos, marketers will be more likely to succeed with a multi-channel marketing strategy in 2020. The use of 2 or more communication channels improves participation rates by more than 166%. As compared to single-channel outreach models, according to a study. Marketers will want to take advantage of this factor to keep their customers engaged at multiple points of contact. 

There will be several layers of user engagement and action in a multi-channel campaign. This will require data intelligence to identify key insights that positively affect conversion and commitment. You must sew these variables seamlessly into these multi-channel promotions. Therefore, this will ensure that the product message remains fresh and adds value to the end-user.

Wrapping up! 

take full advantage of the marketing automation possibilities in 2020 and beyond! Also, to help you look at your journey try Leadmi, the best marketing automation, and lead generation tool!

 

Launching LeadMi: AI Native Lead Generation & Marketing Automation Platform

Across the world, marketing budgets for organizations account for over 11% of their revenue. For B2C organizations this statistic is higher, at over 14%, and for B2B it is relatively lower, at 9%. B2C organizations are constantly reaching out to their customers for re-engagement and retargeting whereas B2B organizations are constantly in search of high value leads for their pipeline.  Over the years, marketing strategies have evolved from being fully traditional – print, media, advertising to a current mix approach where an online/digital marketing automation platform is a key enabler for the businesses.

With online marketing, there are several hurdles to driving the effectiveness of the marketing strategy. The hurdles include operational as well as intelligence aspects which constantly question the ROI delivery of the marketing strategy.

LeadMi: Marketing automation platform and AI native lead generation that solves these challenges for marketers

By automating marketing tasks and leveraging native AI-based technologies like NLP, NLU, Intelligent Decision Making, Machine Learning amongst others, LeadMi provides high-quality insights and data allowing you to arrive a custom predefined formula to drive your marketing needs.

LeadMi has been created to drive 3 key marketing pillars

  1. Lead Generation
  2. Social Listening 
  3. Content Distribution

A large number of B2B organizations rely on either inbound marketing or a lead database for lead generation. Having said that, 61% of marketers say that they are still constantly struggling with generating good leads since there is no definite formula or pattern to it as yet.

Inbound marketing is the task of trying to build interest for a product or brand via an Ad or a post on the internet and navigate the user to a landing page to capture their profile details through a form.

A lead database is a set of lead profiles with name, email and possibly other attributes like phone, organization, region, industry etc.

There are 3 fundamental problems with this approach

  1. As per research, organizations are spending up to 50 USD per prospect lead to fill a form and about 30% of data provided while filling forms in incorrect. So, the cost of data gathering is upwards of 50 USD.
  2. Lead databases are traditionally built at a certain point in time based on a single data source like LinkedIn. They are seldom updated with the latest data and are not validated for correctness across multiple data sources.
  3. Even if we were to assume that the lead profile information was accurate, the tougher part is lead qualification. Imagine having a set of 100K leads but not knowing who to go after. It is extremely important to identify the right leads to pursue which ones will result in high returns – high ROI and higher team motivation levels.

LeadMi is true to its play on leading you towards your marketing goals and has built a lead generation engine that

  • Allows you to define a buyer persona using a set of organizational and user attributes like function, region, industry, seniority level etc.
  • Generate leads for your buyer persona at the click of a button. Leads are generated and validated from across multiple data sources on the internet.
  • Computes and provides an intelligent match score for every lead based on buyer persona and other parameters.
  • Displays the status of availability of the key profile information like email ID, contact number and social profile URLs.
  • Allows you to choose the lead profiles that you would like to unlock and view based on the score and the availability of the profile information. Users pay only for the unlocks.

In addition to this, LeadMi also allows you to update your data set with a refresh option. Users can choose to refresh their lead profiles which updates the profile data of the existing unlocked leads and also fetches new leads based on the buyer persona.

Based on one’s appetite and capacity, they could choose to unlock lead profiles and pursue them. It’s really that simple!

leadmi marketing automation platform

A marketing automation platform offers social listening, now an emerging trend

It is primarily for B2C organizations but also very helpful for the B2B ones.

Consumers or users of the brand/product are constantly engaging with the brand either on social media or the internet. Their interactions reflect their emotions for the brand, the product or the service.

As marketers, it is extremely important to identify, understand and nurture these emotions for the growth of the brand.

Social listening is the task of constantly listening to brand engagements or interactions and evaluating them to draw insights and in a few cases act upon them.

Social listening has 4 major benefits for your marketing team

  • Allows you to listen to mentions of your brand or product over social channels. Mentions can be further classified into 3 categories: negative, positive and review based.Consumers complaining about your brand if not acted upon quickly can tarnish your brand’s reputation online. There are several examples of such incidents worldwide. Consumers providing positive feedback about your brand/product or service can act as your influencers and hence it is very important to identify & nurture them.
    As per research, consumers are constantly asking for review or feedback of a brand/product or service online. How about being notified and reaching out to them directly?
  • Builds a brand dashboard which is a mix of trends for sentiment, engagement, ROI and brand index.
  • Allows you to listen to your competitor’s engagement thereby, building a battle plan for your teams.
  • Identifies sales opportunities by profiling prospective leads matching your buyer persona as well as interacting with your brand.

Content creation and distribution with a marketing automation platform

It is the final aspect where automation in marketing can help several teams. Operationalizing marketing communications is a tedious task and with several social channels, the complexity has increased significantly.

LeadMi can automate content distribution across social channels and provide insights on content keywords to communication effectiveness.

AI native Lead Generation is now available for our customers to actively try using our free registration and trial capability. Active pilots are in progress on social listening, content distribution and will be live soon.

Stay tuned to know more about the marketing automation platform. Please connect with us on our social channels or email us at contact@leadmi.io

***

Blog Cover Photo by ZMorph Multitool 3D Printer on Unsplash