Last updated on September 13th, 2020 at 08:19 am | This article was published at an earlier date and has been updated with new information.
Top 3 Factors to Consider While Making a Switch to Marketing Automation
The top 3 factors our readers have to consider before making a switch to marketing automation is discussed in full details here in this article. Unless you’re stuck in the stone age of marketing, you would have probably at least heard of the Marketing Automation platform or b2b marketing automation. Selecting a marketing automation software is a big decision. Make the right one with the help of field-tested insight into the critical factors for success.
Businesses and marketers in all types of industries are recognizing the power of marketing automation solutions, and these stats prove it:
- Businesses that nurture prospects through marketing automation experience a 451% increase in qualified leads.
- 25% of all B2B Fortune 500 companies are utilizing marketing automation.
- 76% of the largest SaaS companies around the world use it, too.
- 63% say that the ability to set measurable objectives is the biggest value driver.
We all agree that marketing automation has endless pros like shortening the sales cycle, enhancing efficiencies, and improving lead scoring, just to name some of them. But, unfortunately, there is one major issue, that is we have an overwhelming number of solutions to consider, to be more particular, over 239 are listed by Capterra as “top” products.
If you’re looking to embrace a marketing automation solution or ready to make a switch from the product you have now, don’t let the sheer number of options scare you.
Features and Functionality
Probably the most important factor when comparing automation software is figuring out what features and functionality each solution has to offer. Are you looking for top-of-the-funnel features in your platform? Or, do you want to shift your focus to lead generation and management? Ask yourself what you and your organization are trying to accomplish with a new solution, and don’t forget the desired final goal.
Once you have a shortlist of options, start a head-to-head analysis on what features these products have in common and consider which function you prefer more, compared to others. Remember to take into account the size of your company. For example, if you’re an international business, you may need to find a solution that can scale to your needs.
Other traits to consider are comparing user experience, reporting function, and overall design. Which will take longer for your team to learn, and which offers more customer support for a smoother transition?
Buyer’s guides have also proved to be an effective tool when it comes to selecting the software for business in present times. It helps in understanding the requirements of functions according to your use and also shows cutting-edge features of various top marketing automation platforms. A marketing automation buyer’s guide of MartechCube is one of the perfect examples, as it provides a multi-segmented and multi-faceted approach that brings you closer to understanding your own needs and breaking it down on a micro level
Product Pricing and Contracts
An obvious factor to consider is the price and potential contract of your automation software. Most marketing automation platforms are priced depending on database size, so consider having an estimated size nailed down while comparing costs.
If you have a larger database, you might want to select enterprise-level software to avoid any extra costs. And, the same goes for smaller requirements, as you don’t want to overpay for features you won’t use. Remember that some solutions hit you with a set-up fee, so you might want to have that cost budgeted too.
In order to establish a connection, cohesive sales, and marketing process, numerous solutions offer integrations with customer relationship management (CRM) platforms known as CRM marketing automation and other third-party solutions. Integration options are important to bottom-line success. In fact, 64% of the top marketing companies report that having a CRM and marketing automation integration gives top metrics for the sales pipeline.
Before making a decision, do some research to check if your current CRM integrates with the software under consideration. The goal is to successfully sync the two solutions for a smoother lead management process. Also, look for solutions that offer additional integrations like surveys or cloud storage services, etc.
Marketing automation is an essential purchase for any company that wants to reach its buyers digitally.
Indeed, marketing automation costs serious money, and there will certainly be some compromises required to implement any system. But it will place you in control of your digital marketing and will be well worth the investment, both in time and money.
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Understanding your necessities, setting your own expectations cautiously, and making an informed decision will maximize your chance of success.