Growth

How To Boost Revenue And Reduce Costs Using Marketing Automation

By Fahad Khan

Marketing automation streamlines internal operations with minimal human intervention, making it a cost-effective tool for increasing revenue.

Did you know that marketing automation is seen as the most effective digital marketing technique? 17.4% of marketers believe so, and 96% have used a marketing automation platform for their business.

Marketers and sales representatives rapidly adopt marketing and sales automation to save time and reduce costs and resources. To understand this better, let us imagine a team of dedicated workers taking care of all the routine, mundane tasks that keep your company running.

On the other hand, your other team members are concentrating on crucial tasks like closing sales. These teams collaborate to ensure that your company's operations are well-organized and efficient.

But is there a way to speed up the process? Yes, we at Growth Jockey believe that marketing automation can change the business scenario by increasing revenue of the business through increased productivity and reduced cost. Let's look at what marketing automation is and how it helps reduce investments while generating revenue.

What is Marketing Automation?

Software that automates routine marketing tasks without human intervention is known as marketing automation. Email marketing, behavioural targeting, lead prioritisation, and personalised advertising are all common marketing automation workflows.

Groups can work better together, give more customised, pertinent substance to possibilities and clients, and save time. For a business to boost revenue, marketing and sales automation use various Artificial Intelligence (AI) technologies and tools to automate various tasks.

How does Automation Work?

Customer Management

Companies can re-engage potential customers stuck in the purchasing funnel with chatbots, which creates new opportunities without requiring additional human effort. The bot selects customers and communicates with them via text message or email.

Then, they employ natural language processing to comprehend the context of their responses and respond appropriately to encourage conversion. 68% of users enjoy the speed at which chatbots answer, contributing to higher sales.

Further, virtual agents and robotic process automation can reimagine the customer journey and establish a streamlined online ordering, tracking, and query management process.

Customer Retention

Scoring tools can automatically create 360-degree customer profiles using variables like buying patterns, interaction preferences, etc. It can also use web data to find customers who are most likely to leave.

Machine learning analytics to identify churners (people who stop buying your product/service) is triple as productive compared to earlier models. Sales and marketing personnel can take specific actions to prevent customer churn based on the ML output, such as preconfigured price discounts.

Proposal Generation

The time required to draft requests for proposals (RFPs) is reduced with the help of marketing automation. Generating solutions based on natural language processing with reduced human error is critical here.

For instance, Generative AI decodes the questions and provides responses in a customized manner that can be sent to the potential customer automatically.

Promotion

Automation in email marketing, social media marketing, etc., enables businesses to promote their products/services with minimal effort. Further, customers can activate their products more quickly than before, saving sales operations teams hundreds of hours annually.

How Can Marketing Automation Help You Increase Sales revenue?

Automation would be ideal for managing and controlling your lead nurturing, capture, and tracking procedures. One of the many advantages of automating your business is saving money on staff. Some of the essential advantages of marketing automation are –

Reduction of staff salaries and overhead expenses.
Sales and marketing automation systems also make it easier for departments to share information.
Reduction of duplicated tasks, which leads to increased productivity due to Automation enables you to align all your departments and personnel better, which is essential for remaining organized and focused on the company's objectives.

Your overall productivity and efficiency will rise due to the automation of these processes. You will have more brainpower and staff to focus on other projects. At Growth Jockey, it is our forte to solve modern problems with optimised advertising and marketing services.

We are adept at building businesses with our unique vision of growth, backed by the latest operations and technology solutions from our well-experienced team.

3 steps to build a marketing automation strategy

Determine Goals

To get the best ROI, keep your goals SMART —specific, measurable, attainable, relevant, and time-bound. Always consult with your team to determine what you want from automation—is it lead generation?

Or is it introducing your brand or services to new leads? Or are you using automation to target engagement or retention? These questions will provide you with your vision and help you chart a plan to navigate the problems along the way.

Market Analysis

Analyse what customers want and where they go to buy it. To match the decision-making stage of your customers, you can use automation at various points in your sales funnel. If a lead is ready to buy, automation at the conversion point or during the initial contact can grab their attention.

Optimization

Finally, once you have some data, use it to make your marketing automation efforts more effective. If you have a website, optimize the layout (customer UX), make it SEO-optimised, increase the page load rate, etc.

Pro-tip: Focus on the continuous assessment of the efficiency of your automation tools regularly to garner continuous growth.

Invest in these Marketing Automation Tools for Revenue Automation

Marketing is the largest business sector that uses automation. 79% of companies use marketing automation, compared to 45% for sales. according to Growth Jockey’s insights - To increase revenue of business, these three automation tools can accelerate revenue while reducing investments.

Email marketing Automation

In 2021, the most automated channel was email marketing, selected by 65% of marketers. How can email marketing boost sales? Businesses can use email marketing to expand their reach, improve conversion rates, connect with their target audience, and boost sales.

If you fall under the category of more than 80% of business owners, you probably already use email marketing as part of your digital marketing strategy and are seeing results. For a successfully automated email marketing campaign, you need to consider these -

A substantial email subscriber list: A list of people genuinely interested in hearing from you and providing them with content, discounts, and news that will be extremely helpful. Use segmented pop-ups triggered by a shopper's location, browsing habits, or cart size to avoid using the same for all visitors.
Offer free eBooks and guides: Customers check the quality of your offering with a glance at free eBooks and guides before spending money. This also shows that your brand is about adding value. Offer them a free eBook or guide in exchange for their email address.
No clickbait: Be open and honest with your client. Before they give you their email address, make sure your subscribers to your email know precisely what they are signing up for. This establishes faith in your brand.
Originality: There are too many competitors writing identical email subject lines and copy. Hence, fresh, creative and interactive copies attract the right leads. Include offers, discounts, and options, so customers feel they have power.

Social Media Automation

44% of marketers use social media management automation in 2022, compared to only 39% in 2021. This data only proves that implementing automation can result in a positive ROI. Social media automation has helped brands by lessening time spent on tedious undertakings, like dealing with the brand account, answering the crowd, etc.

It also helps the brands reduce the workload of their teams, automate publishing and engagement, and offer insights for creating engaging content. Brands can automate social media for the following reasons -

Scheduling - You can schedule your posts and even respond to engagements automatically based on certain conditions with social media automation tools. You can use the other half to find new growth opportunities, interact with customers, and concentrate on your business's expansion.
Personal branding: Videos help to become a thought leader in your field if you have the time. It will increase the value of your brand, and your audience will begin to trust you. You can increase customer engagement by publishing surveys and quizzes. With this you'll also be able to assess your customers' requirements with this.
Maintain online presence through consistency : You can save a lot of time and effort by using social media automation tools to keep your online presence consistent. Success in social media requires consistency, and automation does the same for you.

Customer Service Automation

To stop customers from switching to a faster competitor, investing in customer service automation is one of the best shots. While reps complete time-consuming, redundant, crucial role responsibilities, automated customer service software can operate round-the-clock.

Customer service automation can record, organize, and monitor each customer ticket or issue from a single dashboard. The entire team has access to this dashboard, so your customer service team can use this information to determine areas for improvement.

Thus, customer service automation increase the revenue because chatbots and AI can manage incoming service requests during your company's off-hours. It relieves some pressure from agents and enables them to build customer relationships.

Wrapping Up

Marketing automation is one of the tested methods for revenue automation at low costs since it streamlines internal operations with minimal human intervention. However, you must distinguish the relevant automation tools from the redundant ones.

At Growth Jockey, we bring together some of the best minds to create a marketing plan to make your business thrive. The digital world requires digital solutions, and we are all about automating your business model for maximum ROI.

So, will sales become entirely automated in the future? It's unlikely. However, businesses should see it as a powerful tool that complements them, frees them from low-value-added tasks, and improves their efficiency.

At Growth Jockey, we are committed to delivering tailored marketing automation solutions that effectively address the critical challenges faced by our clients across various industries. Regardless of the scale of your business, whether you're a small-scale enterprise or a large corporation, you can now harness the benefits of advanced automation technology.

Take a proactive approach to unlock the next level of growth for your brand by reaching out to us today!