6 Ways To Improve ROI With Marketing Automation
What does ROI mean?
ROI simply means Return On Investment. Any business platform will focus on gaining profit from its investment. In marketing, several marketing automation softwares help you skyrocket your marketing strategies better. Thereby increasing the ROI of the company.
There are several marketing software and agencies to share your burden and anxiety towards investing a lot in marketing their products. All the monotonous work of a marketer can be automated using marketing softwares.
These marketing softwares can take care of your mundane activities such as collecting customer’s data, tracking their behavior, sending triggered emails, scheduling ad campaigns, personalizations based on segmentation, handling social media posts, etc.
Advantages of using Marketing softwares
- Monitor your business
- Track your sales
- Automate your messages
- Increase revenue and conversion rates
- High-quality leads
- More employee productivity
- Customer retention
- Create a master list (user’s information)
6 Ways To Improve ROI With Marketing Automation
1. Segmentation of your customers
Segmenting your customers is a tedious process in the field of marketing. But with the guidance of automated marketing softwares, you can build a strong relationship with your customers.
In the process of segmentation, a user’s personal, social and behavioral activity is tracked down either by crawling throw their social media accounts or by setting up popups, signup forms, login account pages, or review pages.
Segmentation of your customers can lead you to collect better leads, and the particular audience group is targeted using different marketing automation software. Since segmentation is the foundation of all your marketing processes, choosing the right marketing software is essential.
Advanced segmentation can increase the ROI of your company. However, tools like Mailchimp have a slight learning curve, so you may want to look for some Mailchimp Alternatives.
2. A/B testing- improvisations
A/B Testing is an exceptional marketing technique used by marketers to increase the ROI of a brand. These tests are done to understand the customer’s needs and expectations of your brand. It is basically sending two different email campaigns to understand which one interests most of the users.
A/B testing is a time-consuming process yet an effective one as we get to know our customers better. But with the help of Email Marketing Agencies, it can be made simpler for you to get hold of your customers.
Split testing has been a successful method in marketing products. Making slight changes in your call to action or landing pages can create a significant difference in conversion rates, thereby increasing the ROI of your brand.
In what way A/B testing is valuable for your business?
Let’s say you send campaign A to 50% of your customers and campaign B to another 50% and see which is successful. You can make your campaign successful by adding irresistible coupons, creating urgency with CTA buttons, and adding exciting landing pages.
- Create more traffic on your web pages and product pages.
- Good understanding of your customers.
- Increases conversion rates but also
- Lower the chance of your customers abandoning the cart.
3. Omnichannel Marketing
As this term suggests, Omnichannel has multiple channels for promoting, marketing, and delivering its products. This type of marketing covers every form under one roof. Promoting your products through phone or desktop, online apps, telemarketing, or in-store can be done only after creating an omnichannel for your brand.
By creating these omnichannel, the marketer knows the user’s record, previous purchases, favorite products, reviews left by them, etc. These pieces of information can help in personalized marketing.
For example, a customer is checking out for sunscreen at a nearby store, but it might be cheaper on Amazon than the physical nearby grocery store. So obviously, the customers will check the products in a physical store and order them online. These brands will definitely have integrations with Amazon and other eCommerce platforms.
The result of the example is that products are available in every form, and customers would want to buy the products at a better price. But wherever they buy, the profit is for the brand. The above example shows that setting up an omnichannel for your brand on multiple platforms can increase your ROI tremendously.
4. Triggered emails
Triggered Emails are sent based on the customer’s footprint on a particular website. The customer’s activity can be tracked down, and triggered messages can be sent as welcome emails, abandoned cart emails, picture review emails, etc.
For a better understanding, let’s say you like a shirt from Van Heusen and have added it to your cart. Now you have second thoughts about whether to buy or abandon your cart. Marketing softwares take this moment to get their customer’s attention back. They either send abandoned cart emails to customers, provide them coupons for a limited time, or try to capture their attention toward a particular product.
These messages are triggered based on the user’s activity on a website. Use autoresponders to send your customers the right emails at the right moment. Have a look at these email marketing services for Shopify that can be used to engage your customers with quality content.
5. Get qualified leads
Qualified leads are the base for building a good relationship with your customers. Setting up a good CRM (Customer Relationship Management) is very important to identify your customers and track their activity on the website to segment them adequately.
All information gets stored in these CRM, and we’ll be able to get the lead’s specific interests and their prints left on a website. Through this data, we’ll be able to build qualified leads.
6. Drip campaigns
Drip campaigns are pre-planned campaigns that are automated when the customer performs an activity. It is also known as email automation. After getting quality leads, it is the responsibility of the marketing agencies to interact with the customers.
When a customer arrives at a page, these campaigns will help in sending automated welcome emails to the customers. These drip campaigns will make the customers feel special and attached to the company.
If it is the holiday season, the messages can be ‘we are back here!’, ‘Tis the season to be jolly’ or something relevant to the person, place, and season.
Look at this example of Starbucks during the Christmas season.
Marketing Automation- stats over the years
- Marketing automation software market revenue worldwide in 2020 and 2027 (Statistica)
- 80% of companies saw an increase in leads through marketing automation. (Invesp)
- 40% of marketers believe automation has a positive effect on business performance. (ResearchGate)
- Nearly 80% of marketers reported an increase in conversions as a result of automation. (Invesp)
- Businesses that use marketing automation are 20% more productive. (Funnel Overload)
- According to 65% of marketing influencers, increasing marketing ROI is the top priority for a marketing technology strategy to achieve. (Ascend 2)
4 Marketing Automation Trends of 2022 to boost your ROI
- AI-powered Chatbots: Chatbots are nothing but AI-powered robots that help engage with your customers instantly. These bots are usually placed on a website as autoresponders for the customer’s questions. Answers to frequently asked questions will be imported on bots to save time.
- A/B testing: Improvise your A/B testing procedures to increase click-through rates and ROI. Testings can be done frequently with advanced features and technologies to improve the quality of your content.
- SEO Optimization of your website in Google: Optimizing your brand is very important. Select a reputed marketing software to review products and set it up on Google. All the customers in today’s generation buy things based on reviews on Google. If your product ranks between first and fifth, it is more likely to be a click-worthy product.
- Hyper-personalization: Personalized messages and products are loved by all. Hyper-personalization is more than the personalization of first names alone. If you want to hyper-personalize a message, you need more data and the personal activity of an individual. But if marketing is done based on an individual’s interests and life, the customer loves to buy from your website.