Marketing automation frees marketers from repetitive tasks and helps brands pump up profits, automatically.
Leading brands know this and use it to their advantage. In fact, 77 percent of CMOs at top-performing companies implement marketing automation to increase revenue.
But how does using marketing automation lead to making more money? In this blog post, we explore ten revenue-boosting benefits of marketing automation to explain the link.
1) Improving customer experience
A key benefit of marketing automation is that it helps you offer customers a better experience.
Marketing automation technology allows you to send behavioural triggered emails. These highly tailored campaigns get sent to customers automatically when they do certain things. This could include signing up for your emails, browsing certain products, or abandoning items in their basket.
Used hand in hand with website personalisation, behavioural triggered emails allow you to create a highly personalised customer experience.
Building better, more personalised marketing experiences for your customers helps you make more money. According to Econsultancy, 93 percent of companies see an uplift in conversion rates from personalisation.
2) Increasing scale and scope of campaigns
Another benefit of marketing automation is that it helps you increase the scale and scope of your marketing campaigns.
It goes without saying that automating email campaigns is more efficient than creating and sending them manually.
Automation makes your campaigns scalable beyond the limits of your team size. You can create a comprehensive series of campaigns to increase revenue at every stage of the buying cycle.
3) Boosting ROI on staff costs
The next benefit of marketing automation in our list is that it boosts ROI on staff costs.
Marketing automation reduces the need to employ staff to do to repetitive marketing tasks. This allows you to streamline your team and cut staff costs.
Now, your streamlined team is free to focus on high impact tasks. The ones that bring the most value to your business. This improves ROI on the money you invest in employing them.
4) Empowering your team to improve results
The reporting function of marketing automation makes your team more accountable. Any marketing automation software worth its salt comes with nifty reporting capabilities. This allows you to create detailed reports, automatically.
Comprehensive reporting means you can quickly see how your marketing activities support your sales funnel. This allows you to pinpoint areas where results can be improved, empowering your team to make the changes needed.
5) Increasing average order value
Automated product recommendations are one of the most revenue-boosting features in the marketing automation arsenal.
Personalised product recommendations are an effective way to cross-sell and upsell products across your emails and website. They drive conversions and entice your customer to spend more in each transaction, increasing your average order value.
6) Recovering lost revenue
Using marketing automation tools to send basket abandonment campaigns helps you encourage customers to complete their purchases.
This enables you to recover revenue you may otherwise have lost, automatically. In turn, this increases the amount of money you make from your eCommerce website. Our customers average 12% more revenue from this feature alone.
7) Increasing customer lifetime value
Marketing isn’t all about attracting new customers. A key way to boost revenue is to get existing customers to spend more throughout their lifetime with your brand.
Marketing automation makes light work of retention and loyalty strategies, increasing customer lifetime value.
It allows you to automate requests for reviews and feedback, send exclusive offers to high spending segments, and trigger re-engagement campaigns if subscribers become distant.
These tactics all strengthen your relationship with your customers post-purchase and increase customer lifetime value.
8) Testing your way to increased revenue
Arguably, there’s no such thing as best practice when it comes to eCommerce marketing. The same marketing tactic can produce vastly different results depending on your audience and brand. For this reason, embedding a test and learn culture in your marketing team is crucial.
Decent marketing automation tools offer the ability to A/B test campaigns at the push of a button. Not only does this save you money on additional A/B testing technology, it allows you to test your way to more revenue.
9) Predicting and shaping behaviour
Smart marketing automation makes use of machine learning to improve product recommendations over time. Every interaction your customers make gives you more data.
Over time, you can use automation to predict and shape what your customers do next, encouraging them to spend more. You can use automations to generate demand, drive conversions, and increase revenue.
10) Creating space for strategic thinking
Marketing automation frees your team from repetitive campaign execution. This means they have the space and time to get creative, think more strategically, and deliver more.
Allowing your team to reach their full potential in this way means they are well placed to improve the ROI of your marketing efforts every year.
Takeaway
Now that you know the revenue-boosting benefits of marketing automation, you’ll need to find the right technology to invest in.
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