SYS-CON MEDIA Authors: Liz McMillan, Carmen Gonzalez, Zakia Bouachraoui, Roger Strukhoff, David Linthicum

Blog Feed Post

Believe The Hype: Why Your Business Needs Marketing Automation

Having lived through the unprecedented growth of the CRM software category, I never thought I’d see another category of marketing software reach similar levels of such frenzied adoption, but just this one time, maybe I was wrong.

I spend my days advising companies on marketing strategy, and in particular, on the use of marketing technology platforms to drive business growth. Based on that experience, I can say that I’ve seen more companies evaluate and deploy marketing automation in the past 12 months than in the previous five years combined. In fact, Sirius Decisions predicts that 50 percent of B2B organizations will use marketing automation by 2015, up from just 20 percent in 2012. Why the sudden, rapid growth?  I believe there are a few factors at play, and a few feature sets that have become more accessible and vital, making now the time for marketing automation adoption.

Growth, Competition and Consolidation Are Good for Customers

Earlier this spring, I was fortunate enough to have the opportunity to speak with a Salesforce.com user group about marketing automation. In particular, I wanted to highlight how the last few years have brought extraordinary growth and change to the marketing automation space, and my belief that this change has accelerated the ease of use, affordability, and adoption of marketing automation tools. This is a case where Mr. Adam Smith was indeed right and capitalism is driving better results for the market.

Consider a few of the following milestones:

  • March 2011 – HubSpot raised $32 million from Google Ventures, Salesforce.com, and Sequoia Capital
  • August 2012 – Eloqua went public and by December 2012 was acquired by Oracle for over $800 million
  • October 2012 – ExactTarget acquired Pardot for $95.5 million
  • January 2013 – Salesforce acquires ExactTarget (and Pardot) for $2.5 billion
  • May 2013 – Marketo went public at a valuation of $550 million

With the strengthening of some of the major players in the space, competition among them has increased, feature sets have been enhanced, and costs have in many cases decreased, making marketing automation more accessible. Couple this with the rise of the more data-driven modern marketer, and we’ve hit a critical marketing automation inflection point.

More Accessible Features Become Better Understood – and More Valued

As is the case with most marketing activities, planning, marketing and sales alignment, in combination with remarkable content, spell marketing automation success. For those just beginning to evaluate marketing automation, or even existing users, it’s hard to start using every single aspect of the tool right out of the gate. While most marketing automation platforms offer a large number of features and a high level of sophistication, it was previously a challenge to understand where and how to use some of those really cool options.

But newer platforms and developments have made implementation and use easier. Regardless of the platform you choose to license, I’ve seen the recent growth in adoption tied to these key components:

Lead Scoring

It sounds simple, but focusing your sales efforts to your most qualified and most sales-ready leads can be a game-changing concept for many companies. A marketing automation platform allows a company to understand the actions that a potential customer takes, and then add or deduct points from that user’s profile. They can then use that score to determine when the prospect is ready for follow-up and what that follow-up should be. Marketo’s Big List of Lead Scoring Rules is one of a number of quality lead scoring resources provided on its site, and downloading it will up your lead score for them too – how meta.

Lead Nurturing

Have you ever gone to a website, downloaded a guide, eBook, etc., and had your phone ring almost immediately with a call from a representative of that company? That’s kinda creepy, right? Most leads aren’t sales-ready after the very first touch.  Marketing automation tools let companies set up lead nurturing programs, allowing them to drop content out over a period of time to give prospects additional information, measure changes in the lead scoring, and warm them up for sales. Eloqua’s Grande Guide to Lead Nurturing is an excellent and quickly consumable primer on lead nurturing.

Automation/Efficiency

With the word automation right in the title, you had to know that this one was coming. When properly configured, deployed, and optimized, automation rules can be very powerful and help a marketer to address tasks that were previously executed manually. These manual tasks would typically end up either:

A)   Taking forever to get done, or

B)    Never getting done because they took forever

By automating tasks with simple or complex rules, marketers can get more done, faster.  Automatically adding people to an email list after a certain behavior, automatically moving them through sales stages or setting CRM follow-up tasks, or automatically sending a follow-up message after an event are just a few examples of some simple automation rules. This simple example from Pardot and another from HubSpot illustrate how these rules work.

Measurement

ROI. Proof. Marketing accountability. Revenue performance. The list goes on and on. Now more than ever, marketing is being held to trackable metrics. While it’s easy to calculate simple metrics – like my recent lunchtime achievements of consuming 1.4 pounds of hot food or 113.09 square inches of pizza – businesses are beginning to care less and less about vanity metrics like Facebook likes and page views, and more about business metrics like qualified lead sources, days in each stage of a sales cycle, and revenue generated per campaign.  Bad news for the vanity metrics of my lunch, but good news for those in marketing who want to prove we actually contribute to revenue. The tracking built into marketing automation, along with closed-loop CRM integration, allows marketers to truly show impact on revenue and the campaigns and channels generating it, allowing for ongoing optimization. Taken one step further, business intelligence (BI) tools connected to your marketing automation platform like Pardot’s GoodData allow you to easily analyze, report and visualize data from your marketing automation tool and CRM to wow the C-suite.

While these features only scratch the surface of the sophistication that most marketing automation platforms offer, if you’re looking for a justification to invest in marketing automation, start with these four. Couple the right platform with the right modern marketer to guide the strategy, and you’ll soon understand the power of marketing automation.

Marketing technology is only as effective as the strategy and content that goes into it. Get content marketing guidance you can use from Right Source and other industry experts in our free content marketing eBook: “How to Grow Your Business with Content Marketing.”

Agree? Disagree?  Think I missed a key driver for growth or think I’m just a geek pushing software? Please share your take in the comments below.

The post Believe The Hype: Why Your Business Needs Marketing Automation appeared first on Right Source Marketing.

Read the original blog entry...

More Stories By Will Davis

Right Source Marketing helps organizations build their marketing strategy, organize the structure to accommodate that strategy, and deliver the specific services to execute that strategy. We do this through a unique model that provides senior level strategic consulting as well as specific services that cover every area of an organization’s marketing plan.

Latest Stories
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
ScaleMP is presenting at CloudEXPO 2019, held June 24-26 in Santa Clara, and we’d love to see you there. At the conference, we’ll demonstrate how ScaleMP is solving one of the most vexing challenges for cloud — memory cost and limit of scale — and how our innovative vSMP MemoryONE solution provides affordable larger server memory for the private and public cloud. Please visit us at Booth No. 519 to connect with our experts and learn more about vSMP MemoryONE and how it is already serving some of...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
Platform9, the leader in SaaS-managed hybrid cloud, has announced it will present five sessions at four upcoming industry conferences in June: BCS in London, DevOpsCon in Berlin, HPE Discover and Cloud Computing Expo 2019.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
When you're operating multiple services in production, building out forensics tools such as monitoring and observability becomes essential. Unfortunately, it is a real challenge balancing priorities between building new features and tools to help pinpoint root causes. Linkerd provides many of the tools you need to tame the chaos of operating microservices in a cloud native world. Because Linkerd is a transparent proxy that runs alongside your application, there are no code changes required. I...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
"NetApp's vision is how we help organizations manage data - delivering the right data in the right place, in the right time, to the people who need it, and doing it agnostic to what the platform is," explained Josh Atwell, Developer Advocate for NetApp, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Druva is the global leader in Cloud Data Protection and Management, delivering the industry's first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence-dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it. Druva's...
Kubernetes as a Container Platform is becoming a de facto for every enterprise. In my interactions with enterprises adopting container platform, I come across common questions: - How does application security work on this platform? What all do I need to secure? - How do I implement security in pipelines? - What about vulnerabilities discovered at a later point in time? - What are newer technologies like Istio Service Mesh bring to table?In this session, I will be addressing these commonly asked ...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.