8 Dec 2022| O-Net
Data Science & Big Data
How Can Big Data Boost ROI of Marketing Automation?
Marketing automation is no longer a “nice to have”; it is a “must have” for fast-growing companies to reach and engage their target audience. Statistics show that 51% of businesses now use some form of marketing automation. The same survey also found that over 58% of companies plan to adopt the technology in the next few years.
The number of enterprises recognizing the importance and necessity of marketing automation sounds promising, but only some are successful. The range of successes of marketing automation is reflected in the use of data in implementing various processes.
Marketing automation is a technology. To be able to leverage it, you still need a marketing strategy. And to create an effective marketing strategy, you need data on your target market/ audience, your ideal persona, your competitors, and more. Marketing automation is fueled by data when all of them are tied together.
Without accurate data on customer behavior and preferences, automating campaigns and processes based on inaccuracies and lack of information leads to increased leakage in the funnels you have set and lowers the ROI of your overall marketing automation efforts.
Given that businesses today have numerous channels to collect customer data and learn from customer interactions, it’s time to integrate Big data into marketing automation for better results.
Data analysis is drawing inferences from a data set to understand the information it contains. It helps marketers gain insights and a deeper understanding of their target audience.
Whether an advertiser’s goal is to reach new customers or convert existing ones, Big data analytics can drive better Return On Investment (ROI) of your marketing automation through the following ways:
Marketers invest more effort in generating, releasing, and promoting content across various media to educate their audience. One must use tools and technology to reach the right audience with the right message on the right channel and at the right time. Still, with 78% of businesses using content creation for marketing and sales objectives, this is becoming increasingly important.
Data may help you pinpoint the platforms and channels where your audience is most engaged and when they are most likely to interact with your content. Better outcomes may result if you use marketing automation to perform targeted campaigns across all channels.
According to a few studies, 48% of data may be ascribed to consumer analytics. The more you comprehend them, the more you may customize your marketing messaging and approach to appeal to their specific tastes and wants, given that 80% of customers expect brands to personalize their interactions with them. If you don’t leverage this data, your company relies on a hit-or-miss marketing and sales plan.
With marketing automation, you can extensively use this data to develop individualized marketing strategies for every channel. This helps increase the conversions and sales you produce across all digital channels, including those from sponsored and organic marketing.
According to Gartner, 27% of marketers think the significant challenge to implementing successful tailored marketing initiatives is a need for more data.
It’s crucial to see how consumers’ tastes evolve through interactions. Delivering a superior customer experience cannot be stressed in an era where competition for consumers’ attention is growing daily. The only way to keep up is to include data in your marketing automation efforts.
For instance, you should carefully examine data if you’re employing chatbots to automate client interactions with purchase-related questions. Your data will show which audience segment tends to contact you the most and which questions tend to be asked repeatedly.
When they receive content or information that is irrelevant to them, roughly 32% of consumers unsubscribe from a company’s list, according to a CoSchedule poll.
Businesses are utilizing marketing automation, given how crucial regular communication is for customer retention in fast-moving industries. However, they also need to incorporate data to support the strategy behind each automated campaign if they hope to achieve relevancy at scale. When combined with data, marketing automation can help you personalize messages for each individual.
There are just too many touchpoints and micro-moments in a buyer’s journey with a brand because the digital world is expanding daily. You don’t get a second chance to engage your audience when you consider the 5,000 advertisements that an internet user views on average.
This means you must develop campaigns that provide the appropriate message at the right moment, based on customer action, to take advantage of the one opportunity you have to get into the fragmented and non-linear buyer experience.
Analyzing data lets, you see how various customer categories interact with your business. Utilizing marketing automation, you can leverage the insights to develop powerful real-time triggers that ensure you never miss a chance to engage customers with high intent.
For instance, you can start a campaign to welcome new subscribers to your email list and set their expectations for future email content when they sign up for your mailing list. They can also subscribe solely to certain types of information, allowing you to personalize your email messages to them specifically and use their selection as a trigger.
A marketing automation solution has several capabilities that the support can use for sales and marketing departments. As a result, teams frequently develop their internal procedures and initiatives to automate tasks following their current requirements.
Due to duplicative or overlapping processes across all channels and divisions, businesses sometimes spend exorbitant fees on managing their marketing automation initiatives. By bringing in data, you can explore your must-haves and things that should be eliminated. Your processes and resources will be more efficiently used. As a result, you are improving the return on your marketing automation tool investment and the ROI from your campaigns.
You may gain real-time insight into your target audience by including data in your marketing automation approach. Additionally, you may evaluate the effectiveness of your company’s numerous departments, teams, products, services, and more.
Better decisions may be made at all levels thanks to a thorough understanding of how things function and perform.
Data consumption is greatly facilitated and accelerated by marketing automation, allowing you to spot gaps and possibilities immediately. It helps you better comprehend your customers, shifting tastes, and needs, allowing you to refine your strategy before your rivals.
Nearly 67% of CEOs claim that using data to drive marketing automation has given them a competitive edge in their target markets.
Automation empowers your marketing team by freeing them from repetitive tasks while enabling them to focus on more strategic tasks that promote business growth. In addition, businesses can examine vast amounts of customer data and create a comprehensive view of customers.
These insights will help to create personalized and long-term connections with potential customers beyond traditional capabilities.
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