Marketing automation refers to a type of technology that allows digital marketers to automate certain marketing processes and multifunctional campaigns across multiple channels. Marketing Automation can help you reach your contacts faster, increase engagement and centralize lead management reporting to help align your marketing goals and increase digital marketing ROI.
Commonly associated with email marketing, Marketing automaton can be used for so much more. Automated messages can be sent to customers via email, social media channels and text messages. A common scenario is the launch of an email message after specific action has been performed, such as a form submission.
By using marketing automation tools, you can manage, organize, and prioritize marketing tasks more efficiently.
Marketing automation doesn’t just increase efficiency and save on resources. It gets results. Marketing automation generates significant new revenue. According to HubSpot, Companies that automate lead management see a 10% or more bump in revenue in 6-9 months and Businesses who nurture leads make 50% more sales at a cost 33% less than non-nurtured prospects. Almost 50% of businesses are using some form of email marketing automation, and in the U.S. marketing automation software is expected to grow 20% annually.
Leveraging automation could become crucial to digital marketing strategies. By making automation part of your digital strategy you can perform marketing tasks and gather data in a fraction of the time. Marketing automation will help you gain insights into the entire interaction history of everyone who visits your website, or other online channels such as social media or email and integrate with offline data.
There are many tools for various marketing automation functions. Researching email marketing automation software, social media platforms, and learning the ins-and-outs of digital advertising can be time consuming. A digital marketing agency employs marketing specialists that are familiar with automating emails, scheduling social media, and monitoring and reporting on SEO and PPC. The agency will do all the behind-the-scenes work and then provide you with the necessary insight and knowledge to help you take advantage of the latest marketing automation tools. A marketing automation agency and will tie everything together to segment your clients and prospects and get the right messages to the right audience.
Marketing agencies have the time and the skills, and technical knowledge to create, execute, and manage the deliverables. The agency does the leg work driving traffic to the website and nurturing leads, so the client can focus on closing the deal and other offline activities.
Marketing automation tactics can benefit financial institutions in several ways. Reduce the lag time between lead generation and follow-up to increase conversions. Keep customers engaged with social media posts and personalized emails. Email marketing automation gives you the time to more quickly and efficiently send personalized emails which can result in higher engagements levels and cross selling. Ernst & Young reported that 40% of customers said they would be more likely to stay with their financial services provider if it offered more personalized service.
Marketing automation also allows your financial institution to manage operational alerts, so they are sent in a timely manner.
A bank marketing agency can leverage marketing automation practices to help you compete with the big banks and increase customer retention so you can worry less about losing customers to megabanks.