How Marketing Automation Can Solve Your 3 Biggest Pain Points
Only 1 in 4 leads are ready to convert, reports Gleanster Research. Yet when an effective lead nurturing program is in place, as many as 50 percent more leads will be sales ready and these businesses will spend 33 percent less money to get them there, says Forrester Research. It’s clear that marketing and sales both need each other — so why the dissonance?
It all starts with a lack of synergy. When marketing and sales teams are scrambling to track qualified leads and make quotas — all while relying on ad-hoc data input and follow-up — it’s inevitable that collaboration attempts devolve into (Can we replace with another word, maybe confusion). It’s every person for himself/herself, rather than one team working together to achieve a common goal. Your business doesn’t need to invest in a corporate retreat to cultivate teamwork. Your business just needs to invest in the right marketing automation software. Here is how marketing automation solves three of the biggest sales and marketing pain points B2B companies face each day:
Pain point 1: Too many leads aren’t qualified. It’s a simple fact: the “big lead” your marketing department just gained may take months before signing up for your services. Why? Most marketing departments are (understandably) focused on maximum lead generation. Consequently, only 25 percent of leads are valid and should advance to sales. The remaining 75 percent needs to be nurtured. That said, nurtured leads produce on average a 20 percent increase in sales when compared to non-nurtured leads, reports HubSpot.Solution: Rather than getting “everything but the proverbial kitchen sink” — and then being stuck for days sorting through which leads are worth your time — marketing automation does the hard work for you. The result: Your time is spent on better prospects, improving sales team’s closure rate, and landing your business better clients.
Pain point 2: Follow-up is either too much or too little. Those dreaded “just checking in cold calls” are a waste of time for a reason: they’re an inefficient way to manage leads. Too much attention scares potential customers and too little follow-up means your best lead could slip through the cracks. It’s no surprise then that businesses lacking mature lead management and marketing automation report only a 10 percent follow-up rate. Conversely, 25 percent of marketers who adopt mature lead management processes report that sales teams are able to make contact with qualified prospects within one day, according to Gleanster Research.
Solution: Marketing automation delivers the right message to the right lead at the right time. With marketing automation software, you can set event triggers to automatically send follow-up messages when your lead is ready to engage. Rather than cold calling every three weeks to “check in,” set an event-based trigger to automatically alert a sales team member when a certain lead downloads a white paper or signs up for a webinar.
Pain point 3: No plan for re-engaging cold leads. Not every lead will convert, but what happens when a seemingly qualified lead goes cold? Today’s B2B sales cycle is longer than ever. Just because a lead goes cold doesn’t mean the prospect is lost forever.
Solution: Re-engage cold leads with optimized content. Marketing automation will give your sales team greater insight into your lead’s behavior, needs and pain points. Track the website pages your leads visit, the content they download, and the emails they open. If leads are back on your radar, take a look at their content consumption patterns to better understand which pain points your sales team can better address.
Did you know that only 5 percent of marketers use a full-featured marketing automation solution, according to Jeff Ernst of Forrester Research, Inc? That means adopting a comprehensive marketing automation platform will do more than just boost your bottom line — it will also give you an edge over the competition.
As President of Highland Solutions, Jeff Nixon has a solid history of innovative leadership, continuous improvement, product development, managing leading-edge technology and delivering excellent products and services. Jeff previously served as the Vice President, General Manager U.S. Services at W.W. Grainger, Inc., and as the COO of Vision Point of Sale, a premier provider of point of sale products and services to the retail industry.