For the Rest of Us
Marketing technologies have evolved at a staggering pace in the past decade, companies must adapt and adopt or they’ll be left behind.
The Evolution of Marketing
Evolving technologies have produced a thriving online marketplace at our fingertips. We can access product information and go shopping in our pajamas without ever leaving home.
New technologies continue to evolve and influence the marketplace. Companies that embrace and use technology quickly gain a competitive edge over those that hesitate.
Several variables have caused the buying landscape to change. We will discuss what they are, how they affect you and your business, and show you why marketing automation is the solution.
Buyer’s expectations have changed. Buyers acquire information at the speed of the internet now. They make buying decisions instantly, in the privacy of their own homes. If you aren’t there to sell them directly, then how do you influence their buying decisions?
In today’s fast-paced, information age, savvy marketing professionals in-the-know have raised the bar. You must personalize, segment and target individual buyers with the right information at the right time, in order to influence their buying decisions. The one-size-fits all generic approach no longer works with today’s educated buyer.
Companies must engage buyers, by encouraging dialogue and interaction. Social media, blogs and emails, enable businesses to communicate with prospects and customers.
Businesses can use these channels to invite suggestions, encourage feedback, and ask their prospects and customers what they want, in order to gain an advantage over those who don’t.
These interactive mediums allow companies to gain valuable marketing intelligence they can use to create buying personas.
Manual marketing systems are obsolete and inefficient, because they limit marketing capacities.
In order for companies, both large and small, to reach more prospects, they must embrace marketing automation to be competitive.
It’s essential to measure the effectiveness of marketing campaigns, to determine which ones are working and which ones aren’t.
Marketing automation streamlines data analytics in robust fashion, to track buyer behavior and determine the return on investment (ROI) of multiple marketing campaigns simultaneously.
Outdated manual marketing approaches limit the capacity and schedule in which an enterprise can gather the quantity and quality of buyer information needed to mass market effectively.
Customer Relationship Management systems (CRMs- are automated databases that enable companies to collect personal information about their prospects and customers. Good CRMs enable companies to create filters that collect specific information about individuals and groups, in order to create buying personas.
Once a business has determined all their buying personas, they can develop effective, personalized, marketing campaigns that cater to the personal preferences of individuals and groups that share similar characteristics.
It is almost impossible to collect comprehensive, buying-behavior patterns through limited manual-marketing techniques that are tedious, time-consuming and inefficient.
Marketing automation is the right tool at the right time to modernize marketing for the 21st century business.
Market segmentation yields the highest return on investment.
Market segmentation enables companies to target specific demographic groups based on their unique and shared interests and buying behaviors. Segmenting buyers allows companies to create personalized marketing campaigns to individuals and groups with common needs who will respond similarly to a marketing call-to-action.
For example- if you sell high-end cameras and know who your buyer segments are, you can create a targeted marketing campaign for each group with a unique approach for that buying segment. You could run one campaign for active, thrill-seeking, 20-somethings, while simultaneously running a campaign for young parents documenting their family’s growth.
Creating buyer personas, or customer profiles, starts the market segmentation process. The most effective buyer personas are comprehensive and collect as much demographic information on a prospect as possible.
Segmenting buyers helps you target your marketing strategy and customize your message. That’s why more is better, when it comes to creating buyer personas. Collect as much demographic information as possible- their name, birthdays, family members-spouse and children, education level, the neighborhood they live in, and even the car they drive – are all useful pieces of information in the buyer persona puzzle.
Modern marketing systems automate the market segmentation process, by analyzing and measuring prospects’ interactions with various content options.
This information helps companies define robust buyer personas they can market to more effectively, which increases their conversion rates.
Social media is the wave of the future and a popular marketing channel that can’t be ignored. Social networking trends and patterns can be tracked through a CRM that can be built into marketing automation software.
Tracking social networking trends and communication patterns helps companies discover and define social media specific buying personas.
Marketing automation software helps businesses create market segments and tailor communications across unlimited mediums.
Content is king! Effective ad copy and quality content are the foundation for all marketing.
Delivering content to the right prospect, at the right time is a key component of marketing automation. You define your own rules in the market automation software, to determine when information is delivered based on interest, a particular request and how they are interacting with other pieces of information available on the website.
Content Development- It’s simple. Write quality content that is relevant to your prospects’ needs to feed the marketing machine. Don’t sacrifice quality for quantity; write content that is valuable for readers, but also keyword rich for search engines. Quality and quantity content are essential building blocks of market automation. You can’t market without content.
EBooks, eGuides and whitepapers are popular content marketing tools that educate and inform prospects and establish you as an expert.
Info-products are the modern marketer’s best friend. They can be used for many purposes such as-
- An additional revenue source
- A marketing tool to build a contact list
- To establish yourself as an expert in your field,
- And ultimately, to convert a fan base of prospects into loyal customers.
By the way, if you’re reading this, we hope to convert you from a P5 Marketing prospect into a customer! We practice what we preach. Keep reading.
Educating and informing prospects helps them make buying decisions. Buyers expect quality information about your products and services that is reliable and accurate. This builds trust in you and your brand. Many features and variables influence their buying choices. Explain concepts, features and benefits in easy to understand terms. In an increasingly complex world, prospects are bombarded with information overload. Keep it simple and relevant and they will appreciate you for it.
Developing and delivering the right content at the right time is critical to effective marketing!
Write quality content and they will come! Readers are hungry for reliable information.
Content is the foundation of marketing. Therefore, it is important to use it effectively. Content helps prospects find you. Promote your business with content.
Promote content across on a wide variety of channels:
- Blogs – a distribution medium that you own
- Facebook – social networking is a very effective channel to promote content
- LinkedIn – a professional social platform used for content publication
- LinkedIn – ads
- Pinterest – promoted pins
- Display ads
- Existing leads and customers
- Email campaigns
Use all possible media channels available to you to build your contact list.
Email marketing is the modern marketer’s best friend. Believe it or not, in spite of all the complaints about spam, email marketing is still the most effective communication tool to market your business.
Your contact list is your goldmine. Marketing automation is your modern mining tool that excavates buyer personas and polishes them up to convert them into new customers. By the way, if you are new the treasure hunt, there is no shame in buying lists until you develop a healthy one of you own.
Effective content promotion attracts the right audience to your website and business.
Lead capture is the first step to invite a lead to become a prospect, who ultimately becomes a customer.
Marketing automation uses state-of-the-art lead capture technologies that save time and help companies define marketing segments efficiently.
Let’s pretend you own a candy company and you have a beautiful website that displays your candy. On one page you have chocolates and on another page you have caramels. You could create a lead capture offer on each page, specific to your visitor’s candy preferences.
Lead capture marketing automation tracks what pages your visitors click on, user engagement – how long they stayed on a page, and even what they looked at.
Automation allows you to set up unlimited lead capture profiles and offers throughout your website, and categorizes visitors into “candy preference” buying segments.
Thanks to your lead capture system, you now know which customers like which kinds of candy, without ever even meeting them. That’s market segmentation.
Now you can send a special offer to leads based on their candy preferences- chocolates to chocolate lovers, and caramels to those who downloaded that guide. That’s target marketing at work!
Personalizing the buyer experience increases sales.
Businesses that develop and maintain an effective lead management system gain a significant competitive edge.
Unfortunately, most businesses don’t attract, cultivate, nurture and convert leads into customers very effectively at all. Which is surprising, considering how essential that fundamental element is for any business to survive.
Marketing automation sets up an effective lead nurturing system that drips on prospects with content that is relevant to their buying personas.
Market segmenting is a powerful process that uses the right content, at the right time, with the right audience, to define and develop buying personas.
Once buyer personas are established, the lead capture and management system identifies which buyers belong in which marketing segments. This is the foundation to creating targeted marketing campaigns that communicate directly to each marketing segment in a personalized way.
Market segmentation converts a significantly higher percentage of prospects into paying customers, than the feeble attempts of an impersonal generic marketing approach does.
Lead Scoring is an important part of the market automation process. It sets up rules that determine what content goes to which prospects, based on their buying personas.
Lead scoring measures user engagement – what pages prospects are visiting, what they are clicking on and how long they are staying on a web page. Lead scoring collects traffic patterns of visitors to your website, including how often they come back to your website. Once you understand the traffic trends specific to your website visitors, you can write business rules that enhance engagement.
For example, you could set up a rule that sends a visitor a special offer, after they have visited your website three times. Or, you could re-route them to a landing page with a special promotion.
Routing Calls– Lead scoring improves performance, increases productivity and reduces costs by setting up routing call rules. An example of a routing rule is, when a company sets up an alert to a salesperson when a lead abandons a shopping cart, or when a prospect has downloaded two or more whitepapers or eBooks without buying anything.
An automated lead management system attracts and converts customers.
Understanding your leads and customers begins here.
Marketing automation provides significant benefits that can boost your business to the next level. It tracks an individual’s visits, downloads, and email interactions on your website, while you focus on other aspects of you business.
Market automation is a powerful tool that shows you what’s working and what’s not in your marketing efforts. It shows you the results of your content and web design with user engagement statistics.
Buying personas become even more apparent in larger group campaigns. Armed with all this valuable marketing data, you can test and discover what types of content create the best user engagement. You can also confidently plan out your marketing budget, and allocate costs to each campaign, as well as track the ROI of each campaign.
Integrating marketing automation with an e-commerce store makes good business sense, because it simplifies cost analysis, inventory control and sales transactions completed.
Marketing automation is an idea whose time has come. It is absolutely required for businesses that want to compete and stay in the game in today’s competitive market place. Streamlining your marketing processes with automation, saves you time to focus on other priorities that are important to running a successful, growing business. Market automation puts your business growth on auto-pilot, even while you sleep. Now that is good for business and your quality of life!
Marketing automation stats and facts
Here is the proof and statistical facts that support the information discussed in this ebook. If you have questions or want more information on how we can help you automate your marketing system to increases sales, please contact us.
There are nearly 11 times more B2B organizations using marketing automation now than in 2011. –SiriusDecisions “B-to-B Marketing Automation Study” (2014)
79% of top-performing companies have been using marketing automation for more than 2 years. –Gleanster “Q3 2013 Marketing Automation Benchmark” (2013)
8% of B2C and 21% of B2B marketers find Marketing Automation one of their Top Digital Priorities. –Adobe “Quarterly Digital Intelligence Briefing” (2014)
Nearly 70% of businesses are using a marketing automation platform (MAP) or currently implementing one. – Aberdeen Group “State of Marketing Automation 2014: Processes that Produce” (2014)
Companies that have adopted marketing automation perform well compared to companies that haven’t:
- 45% regularly repurpose content for efficiency, compared with 28% of companies without marketing automation
- 54% capture intelligence for the sales team, compared to 25% without marketing automation
- 49% customize content to the Buyer Journey stages, compared to 21% without marketing automation
- 59% can use intelligent targeting to trigger content, compared to 17% without marketing automation
– The Lenskold Group, “2013 Lead-Generation Marketing Effectiveness Study” (2013)
Robert Donnell © 2014