90news
November 2011
Marketing Automation: Part 1 of 2
As the global marketing environment evolves and changes with new technologies, the implementation of automated processes is becoming more prevalent. The use of automated lead generation, scoring and nurturing techniques is rapidly overcoming traditional processes as companies aim to increase productivity, efficiency and revenue. The adoption of these technologies has resulted in the necessity for enhanced communication and alignment between marketing and sales departments, as leads are more specifically targeted and "hot" leads are more consistently delivered. However, many small to medium size enterprises (SMEs) face several hurdles when considering the implementation of marketing automation due to high start up and opportunity costs.
In this first part of 90octane's Marketing Automation series, I discuss the challenges facing businesses that wish to adopt automated marketing processes and the recommended strategies to confront them. In the second part, to come in December, I will look in depth at the implications of closer alignment between marketing and sales.
If It Ain't Broke, Don't Fix It.
Many companies, particularly SMEs with limited resources, adopt a way of thinking that says if something is working, it should be left alone. After all, many businesses with simple email lead generation programs in place have seen consistent positive numbers to assure them that they are achieving success. However, it is always important for companies to analyze the reasons why they are utilizing a particular tactic. In a recent webinar, Ian Michiels of Gleanster discussed that businesses cited affordability, ease of response and customer use of the internet as the top three reasons to implement an email program; on the other hand, companies that had adopted automated marketing processes had done so to generate more leads, increase marketing efficiency and generate revenue. This example illustrates that even though something is working at the moment, there could be a more valuable and efficient tactic available that could improve upon existing results and enhance overall performance.
The Price Isn't Right.
Affordability is something all businesses have to consider in the current economy, and SMEs are no exception. Implementing an enterprise-wide marketing automation solution is an expensive endeavor, both from a cost perspective and when analyzing the time cost of implementation and training. However, firms must conduct an opportunity costs analysis to evaluate whether the initial financial investment is less expensive than continuing a less efficient, manually-driven program over a longer period of time. In an environment where immediate satisfaction is expected, companies must take care to evaluate the long-term sustainability of a program in favor of the immediate cost benefit.
Don't Have the Time.
Companies have to invest much more than money to make a marketing automation effort successful; the hours spent training staff in the new system can be more daunting than the financial investment itself. In a recent research project I conducted while pursuing a master's degree from Trinity College, an interesting trend began to unfold: large firms with numerous employees and high overhead costs were more reticent than SMEs to undertake a company-wide marketing automation solution due to the time, not financial, costs associated. In a market where efficiency is becoming a differentiator, SMEs have the opportunity to gain an advantage through early adoption of automated marketing systems. With marketing and sales staff no longer managing the minute details of lead generation and nurturing programs, time is freed to ensure higher levels of customer service and continued innovation to keep a firm at the cutting edge.
However, as with any enterprise-wide solution or strategic decision, SMEs must decide to make the marketing automation leap based upon their current situation, future plans and the feasibility of maintenance. The purchase and implementation of the solution is but one step toward increased efficiency and revenue; consistent management, constant learning and frequent updates to both the system and staff trainings are vital to getting the most benefit from an automated process. The previously outlined hurdles are ones faced by every business considering marketing automation, but the choice to confront and overtake them is one best made on the individual company level.
90octane and Heifer International recently won a Silver Award for Fundraising Excellence from FundRaising Success Magazine for a 2010 holiday fundraising paid search program. Together we drove online donations to support the nonprofit’s goal of lifting families out of poverty while caring for the earth, far exceeding goals to increase donations over the previous year’s holiday push. Always aiming higher, this year’s Heifer PPC team is adding a special focus on targeting tablet and mobile users. Here’s to marketing innovation and donation success!
90octane | 518 17th St., Suite 1400 | Denver, CO 80202 | p: 720.904.8169 | email: info@90octane.com | 
| 
| 
| 
|
- ©90octane, LLC.
- All Rights Reserved.
