The marketing automation tools have empowered marketers to influence the customer lifecycle from top to the bottom of the sales and marketing funnel. Implementing marketing automation is a must-have in all businesses and it’s growing influence and impact on accelerating revenue and increasing customer lifetime value has been proven time and again.
The success of your marketing automation implementation depends on how well you have orchestrated your systems. Here are five things that we feel are a must-have when implementing marketing automation and you won’t regret reading this article, we bet!!
According to a survey done by Pure360 on Personalized Marketing; and many studies have concluded that there is a need for better personalization to create more customer engagement & providing better user experience. New age marketing automation tools allow you to personalize the messaging, landing page experience and other interactions a prospect goes through as they are moving forward in a buyer's journey.
Personalization can positively affect the consumer consideration stage and can generate an uplift in the buyer’s intent. Another, Deloitte study concluded that beyond personalized communication, customers also love to get personalized products and services recommendations. 36% of consumers said big, YES to preferring buying customized products or services, while 48% said they don’t mind to wait a little longer, to receive it.
Lead scoring is the process of assigning a value to leads and ranking leads against others based on their likelihood of buying. It helps prioritize the effort of the sales team and only assign high score leads to them to follow up. Low scored leads can be nurtured through the marketing automation tool. As these low score leads engage and move up in ranking they become sales-ready and are handed off to sales for following up.
Source: Lead Scoring Model
Lead scoring is also a great tool for measuring the success of marketing campaigns and programs. Knowing the quality of leads that are being generated by marketing campaigns helps identify the best performing marketing channels. All this information can be used in planning and optimizing the return on investment from your marketing budget.
Nurture Low Score Leads
Not all collected leads are qualified or are equally interested in buying. Research by MarketingSherpa report showed that, on average, only 27% of leads are qualified among the contacts in your database; rest 73% aren’t sales-ready. They need to be qualified and nurtured to be graded as a qualified lead and passed on to the sales team. No lead should ever go to waste. Nurturing low score leads can convert them into qualified ones and can supercharge your sales.
A DemandGen report published by Hubspot concludes that nurtured leads have the potential to produce 20% more sales opportunities in comparison to the non-nurtured leads.
A Recycling Strategy For High Score Leads Not Ready To Buy Yet
Recycling strategy work for those high score leads that couldn’t buy because of many good reasons including budget constraints, or timing, etc. It takes lots of marketing resources to generate high score leads, in no way you should let them go that easy. A recycling nurture strategy that is persistent can effectively bring back those leads when the time and situation is right.
Knowing what held them from moving forward through the sales funnel is very important when building the recycle nurtures. Lead Recycling practices can be very effective because at that stage you know your prospect better; this gives you a chance to offer them more targeted products and services.
Compliance with the latest privacy laws GDPR and CCPA
It is vital to comply with data privacy laws. The data privacy laws and regulations can be confusing at first glance, but there is no way out. The California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR) in Europe are the two latest additions to the list of required compliance. Once you have taken the measures to automate compliance using your marketing automation platform you can confidently run your marketing campaigns without worrying about the implications.
Start implementing these strategies in your automation tool to get more qualified leads and sales. We can help you improve your marketing automation implementation and can start by doing a complete health audit of your system. Write to us at [email protected].