If you run a business, then you most likely use tools to automate your marketing efforts…whether it’s email autoresponders to nurture leads or analytics to measure your success. Having automation systems in place like this allows you to increase your customer size without having to grow your employee base. But are really you getting the most out of it? Or are you leaving money on the table?
If you want to increase your ROI, then implement the following 4 marketing automation ideas:
Tactic #1: Identify and target high profile leads
When you get leads from your website, how do you get them? Usually you’ll get them by email and you’ll probably add them to a list with all of the other leads you get. Although it might seem obvious that you should target your best leads, you’ll be shocked on how often marketers not only ignore them but ignore segmentation altogether. For starters segment your list to avoid sending the same message to your entire database. If you want really good engagement from your list, then segmentation is your key. Once you’ve flushed out those high-profile leads continue to nurture them with questions, betas and recommendations so that they are helping you craft your product to fit their needs perfectly.
Tactic #2: Improve conversion late in the funnel
One of the best ways to increase conversion is to create a very focused sales funnel. In other words, you limit your prospects choices by giving them the exact information they are looking for… and guide them to the action you want them to take. Your sales funnel does not exist in a vacuum, so it’s easy for your prospect to get distracted and leave the sales funnel. Let’s say your prospect ended up on your landing page, subscribed to your email newsletter, responded to an appeal in one of the emails and is on the order page.
At this point your prospect is primed… so you have to give them exactly what they want. But in order to sweeten the deal you need to heighten the value in order to get them to convert this late in the game. That could be a free trial or percentage off. Your prospect doesn’t need a bunch of options, so your funnel at this point should be restricted to one and only one choice so you can close the deal.
But why do some prospects opt out? They opt out typically for three reasons:
- They get distracted by outside influences, like seeing something else online.
- Don’t feel your product is the best value exchange.
- Don’t understand what they need to do next. In other words, they don’t know how to proceed forward.
Because of this your sales funnel should be simple. In the end, the key is to simplify the process, not make it more complex by cluttering it up with unnecessary information.
Tactic #3: Get rid of poor leads fast
On the other hand, you need to monitor your leads to identify those that are dead or worthless. Sure you probably love seeing a large list, but digging into your analytics will tell you another story. And it won’t be good. Lots of people probably subscribed to your email list, but don’t engage in any meaningful way. They are probably too lazy to unsubscribe, but they are still on your list. You need to get them out of there because when you purge your list you actually increase the value of the entire list. You boost your deliverability rate and email reputation.
Tactic #4: Reduce losing leads
Leakage is what occurs when good leads leave your sales funnel. With marketing automation you can easily plug the hole in the funnel that causes those leads to leave. But you have to find out where the leaks are occurring.
Your first step is to map out the life of a lead. Take it from cold to close, trying to identifying those points in the funnel that the lead is falling out. Do you see a point where leads are pouring out? Or just trickling? Constant communication between marketing and sales and a highly optimized and automated marketing system should help you plug any holes you have in your sales funnel.
Conclusion
If you’ve ever fought with sales or management about certain advertising campaigns, then you know the pain it can be to argue your point without correct data. Just implementing a marketing automation program can change the course of your business. But when you get it working in tip-top shape, then delivering clear results is your best proof for making business decisions. It’s hard to argue with good results!
What ways have you used to improve your ROI with marketing automation?