How Do I Measure Marketing Automation ROI?
12 Nov 2017
If you are thinking of adopting Marketing Automation, you may be asking ‘how do I measure Marketing Automation ROI?’
Businesses using the SharpSpring Marketing Automation Platform, say it provides greater visibility of leads from day 1. That’s good for you because you can commence tracking your Marketing Automation ROI from day 1.
Most businesses know 50% of their marketing works, they just don’t know which 50%. If you want to find out which part of your marketing spend is effective you need Marketing Automation.
Did you know that over 98% of website visitors are anonymous?
Most businesses will ever get to know who is on their website, when, or what they are doing. That’s not the case with SharpSpring.
Once a visitor has landed on your site, their IP is tracked over time. So you get a complete picture of their online visits, preferences, frequency of contact, downloads, videos watched etc. Right back to when they first responded.
SharpSpring introduces your business to a series of new functions and features that will help you generate more sales. By capturing data about website visitors that you didn’t even know existed. And then uses automated emails to nurture them along the sales funnel to become your customer.
How do you measure Marketing Automation ROI?
A SharpSpring MAP (Marketing Automation Platform) is designed to build relationships with prospects early on in the sales process.
Increasing trust and confidence in what you do, by providing valuable content to help prospective buyers make informed decisions. But it goes much further.
Through the CRM tool, marketers can gather, store and analyse lead generation data. beginning from the moment a lead is entered. The website communicates with SharpSpring to deliver insights about what they are downloading, when, frequency of contact etc.
This provides a valuable database that marketers can use to quantify where leads have come from. As well as how effective specific marketing activities have been at generating prospects and eventual sales.
Once implemented and you want to measure whether your MAP is working effectively, there are three criteria you need to start measuring.
1) The number of visitors to the site
2) The number of leads that are being generated
3) How many of have been converted into customers.
Integration between the website, CRM, and Marketing Automation Platform
Quantifying Marketing Automation ROI on any marketing campaign requires a smooth link between your website, CRM and marketing automation platform. (The SharpSpring MAP has a built-in CRM).
Consider this example. If a website visitor fills out a form to attend a webinar, your MAP will gather the user’s ID, a new lead will be created in your SharpSpring CRM.
Through the lead scoring system in the CRM this lead will be allocated a score for attending the webinar/filling out the form. You can then proceed with the webinar and use the MAP to drive a follow up email campaign to nurture your lead through to placing an order/securing a sale.
Again, allocating a score for each interaction to gauge whether the lead is warming up or cooling down.
The SharpSpring MAP puts businesses just like yours in the best possible position to analyse how effective individual marketing campaigns have been, in comparison to your marketing outlay, so you have a crystal clear appreciation of what is working, and what isn’t.
Most importantly, perhaps, it helps you to respond to the changing and evolving sales and marketing landscape.
With customers now taking on a more active role in the purchasing process, B2B companies need to be agile with their response and find ways of satisfying the demands of the new, tech-savvy, content-focused buyer.
Spending your marketing money wisely on activities that really connect with the 2017 buyer should be high on your agenda.
Perfect is a SharpSpring Platinum Partner and experienced Customer Acquisition Agency specialising in Sales Lead Generation, through Marketing Automation. If you find our blog interesting then please take 2 minutes to make contact, so you can start benefiting from our experience and ideas.