Components of Marketing Automation and How to Keep it Going

Martech Outlook | Wednesday, November 24, 2021

To achieve ROI through marketing automation, a company must first consider its goals and how it wants to accomplish them.

Fremont, CA

All businesses want to increase revenue and grow more quickly at a lesser cost. Many businesses, however, struggle to connect their people, processes, and technology in order to achieve these objectives. This is a problem that marketing automation solves. It allows businesses to streamline, automate, and track marketing operations and workflows in order to improve operational efficiency and accelerate revenue growth. This type of software enables businesses to sell more efficiently across many channels and automate monotonous operations.

Marketing automation components:

A central marketing database: This is a place where a company can store all of its marketing data, including detailed prospect and customer interactions and behaviors. It may segment its customers and send them the appropriate message.

An engagement marketing engine: This environment can create and manage marketing automation processes and discussions across online and offline channels. Consider this the customer encounters' "orchestra conductor."

An analytics engine:

A technique to test, measure, and improve marketing automation ROI and revenue impact. Consider this a go-to spot for figuring out what worked, what didn't, and where the business can improve.

A MarTech stack:

A collection of all the efficient, collaborative, and scalable marketing tools a company will need to reach its objectives. Consider this the primary location where a business may employ technology to stay in touch with the customers and deliver marketing-sales alignment.

To begin, a company must first consider its objectives and how it wants to attain them. It is important to decide what they would like marketing automation to assist them with. In three easy steps, companies can have their marketing automation up and running:

Plan

It will be easier for a company and its stakeholders to analyze and select a marketing automation platform if it can set out exactly what it's looking for and what it is aiming to achieve. Make a list of the requirements and see which solution best meets the most important criteria. Ensure cross-functional alignment—in order to generate results, sales and marketing must collaborate.

Implement

Once a business decides on a platform, they must determine who on their team will be using it and teach them accordingly. The appropriate marketing automation system unifies the marketing and sales teams' people, tools, and procedures. Once the marketing automation system is up and running, keep an eye on it to make sure it's performing as expected.

Optimize

Once data and KPIs begin to flow in, the company will be able to optimize for greater results. They know which marketing efforts are beneficial for the top of the funnel versus the bottom of the funnel when they can split revenue across various activities.

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