Can a Marketing Automation Software make your sales team more productive? Generally we find that the answer is yes. However with all the features offered in these software solutions the more important question from our perspective as a B2B sales and marketing company is where should you focus the software during the initial implementation to gain traction. With the right focus you can start to produce and ROI quickly. We recommend you look at your Sales Process and Marketing Automation in tandem. To decide where and how to prioritize your initial implementation it helps to consider:
- Where you can get the best lift by improving your current sales process
- Are there parts of your process you can automate quickly
That stated here are some questions you can ask yourself to start thinking about where to get started.
ROI around lead volume:
- How effective is your company converting inbound leads into sales qualified leads. How much time/bandwidth does your sales team devote to converting inbound leads? Do you follow up one or two times then drop that effort?
- Consequentially…how many dead leads are sitting in your database?
- How effective is your sales team in prioritizing your inbound requests. Are they pursuing leads and working opportunities that don’t convert.
If this is a challenge you can focus initially on automated drip marketing programs. You can score a leads engagement and prioritize much more effectively.
ROI around decreasing your reps time spent educating the buyer:
- How complex is your sale? Or an even better question how many problem does your solution solve for your customer?
- How much education is required for your customer to become a viable prospect?
- How strong is your brand? Do you even have a brand or do your sales reps need to establish your credibility and thought leadership position with your customers?
- How educated is your customer about your category and solution area? How much time do your senior reps spend educating the prospect?
- Does your sale require a champion on the buyer side to educate their internal team?
If this is your challenge you can focus on creating a series of Webcasts, short videos and if you are working with Gabriel Sales you can implement our Digital Sales Base Camp™ to decrease the amount of time your senior reps invest in educating the buyer while simultaneously watching how the buyer consumes your content by contextualizing your content (including blog posts) for specific customer segments.
ROI from understanding your metrics
- What percentage of your revenue comes from new leads?
- What percentage of total opportunities come from existing prospects?
- Does most of your business come from leads generated in the last 30 days?
- How much of your business comes from customers that first demonstrated interest 3 months ago? 12 months ago?
- What is coming in from cold calling? PPC? SEO?
- Do you offer free trials or evaluations? At what rate do those free trials convert to paying customers? What is the process a buyer goes through to convert post a free trial?
- What ensure a trial implementation is successful?
- How deeply do they engage during a free trial?
A marketing automation software is also a great repository of all sorts of data sets. With a smart marketing and sales analyst you can really drill down into multiple different areas of your sales process in half the time or less it used to take to do serious deal flow analysis. Gaps and future areas of improvement are much easier to identify and get right from incremental and in some case exponential revenue gains. We have also found that this data is invaluable for clients that are getting beat up by Venture Capitalists. With hard data they are able to defend their valuations with hard data.
When approached the right way and asking the right questions of your sales process you can experience some quick wins with your marketing automation implementation. We are experiencing some fantastic initial success reducing cost of sales percentages for both ourselves and our clients. The learning curve is exponential. So pick a lane and get started.
If you have not checked out what these platforms can do here is a quick overview from Pardot 5 Minute Overview of Marketing Automation. If you have a stalled implementation or just want to get more out of your efforts and are curious if an outsourced sales and marketing company can get you on a faster track to sales results feel free to contact us for a quick consultative call.
For more information from Gabriel Sales on business to business marketing strategy, marketing and sales services, please visit our Knowledge Center. We also invite you to check out our White Paper that has several sections that give you some hard ratios on how you can calculate your hard ROI base on sales conversions.