Most small businesses have difficulty stealing market share from established competitors with much larger marketing budgets. Fortunately, new advances in technology have helped level the playing field. Marketing automation tools allow these companies to thrive.
A growing number of small businesses are taking advantage of marketing automation tools. However, Shabana Arora, a staff writer for MarTech Advisor, recently pointed out that others are still skeptical.
“Marketing automation is a game changer when it comes to generating conversions, leads, and revenue. However, according to sources, only 5% of the businesses at present use this tool. Currently businesses are unsure if marketing automation is for them and the impact it will have on their business. Marketing automation is often considered as a tool which helps large organizations manage their marketing campaigns. However, small businesses too can benefit from marketing automation. It has the potential to drive business growth and provide businesses with competitive edge which they require to thrive.”
Benefits of Marketing Automation Software
Small businesses should understand the benefits of marketing automation tools. If these tools are used properly, they can significantly reduce marketing costs and generate more qualified leads. Here are some ways marketing automation gives small companies an edge against larger brands.
Reduced Marketing Costs
The average small business can only afford to spend about $20,000 a year on advertising. They can’t compete against brands like Walmart on their own terms. They need to make every dollar count, because they are competing against prominent brands with much larger budgets.
Many small businesses are shying away from advertising with print media, radio and television. Instead, they are taking advantage of social media, search marketing and other inbound marketing channels. Here are some reasons inbound marketing has become so popular:
- Leads generated from inbound marketing are 61% cheaper than leads generated from outbound marketing.
- Conversion rates of inbound leads are 10 times higher than outbound leads.
- Companies that automate their lead generation process can increase their revenue by 10% within six months.
These marketing platforms offer an excellent ROI. However, many small businesses avoid inbound marketing, because it takes too much time. Marketing automation software like GetResponse makes inbound marketing much easier.
Better Leveraging Customer Data
Most brands collect a lot of data on their customers, but have trouble using it for marketing. According to Catalyst For Business:
“Many brands use a lot of resources to store their data, but spend almost no time or resources capitalizing off of it. They’re essentially wasting the money they spend on their cloud storage and big data accumulation strategies.”
Marketing automation makes it easier to organize data on customers. This makes it much easier to create an effective inbound marketing strategy.
Demand for Marketing Automation Software is Growing Significantly
Many small businesses have been hesitant to take advantage of market automation tools. However, they are slowly beginning to notice the benefits.
A recent article from VentureBeat recently stated that there are a number of low-cost options for brands on limited budgets. Even the smallest brands can use marketing automation as part of their marketing strategy.