5 surprising facts about Marketing & Digital Automation that you need to know
Are workers in your organization spending a substantial amount of their daily time on menial and repetitive tasks that can be better done through automation? You're not alone. If you plan to use Marketing and Digital automation to expand the workforce's skills on more demanding operations, here are the facts you need to know.
February 01, 2022
7 min read
In fact, a Garter report predicted that 69% of workplace managerial tasks will be automated by 2024. Considering these statistics, it's easy to see that digital transformation has made its way into the business sphere, such as marketing automation.
The sooner you adopt it, the better results you can expect from your business initiatives. More importantly, business automation also helps improve customer experience and reduces significant financial losses that often occur due to human error.
In this article, we will cover the most important trends and facts about digital automation that you should take into account for your business decisions. The business world is putting tech to great use, from marketing automation to machine learning.
1. Digital Transformation Spending Is On A Rise
On a worldwide scale, businesses are recognizing the importance of digital transformation through automation. According to the IDC, digital transformation of business practices and products will reach $2.8 trillion in 2025.
That's a huge increase, considering the spending on digital transformation in business was just $1.31 trillion in 2020.
The digital transformation is expected to impact different aspects of a business, including processes, people, governance, marketing, technology, and data.
Although the spending forecast was already high previously, the pandemic further catapulted the growth of business automation. Besides operational investments in digital transformation, businesses are also expected to invest in improving customer experience through automation.
Other business priorities coalesce around functional and day-to-day operations, such as accounting and finance, enterprise IT, security and risk, marketing and advertising, human resources, and legal work.
Check out: Business trends to watch in 2022
2. Personalized Content, Rules the Marketing World
It's not surprising that there's an increasing need for personalized content marketing in today's world. 91% of the customers say they're likely to shop from a brand that shows them relevant recommendations and offers. Meanwhile, 72% of the customers engage exclusively with marketing messages that are tailored to their particular interests.
Context is very important in your brand's marketing message. Consumers demand relevant experiences from the businesses they interact with or intend to buy from. Your consumers expect you to know their preferences and likes.
Consequently, they want you to come up with product recommendations and marketing messages that speak to them on a personal level. By understanding your customers' buying habits and preferences, you can move towards personalization and segmentation.
You may want to read: How to fight the lack of face to face using personalization?
In fact, personalization is key to making your retention marketing efforts a success. However, it can be quite difficult to execute marketing campaigns for a massive customer base.
That's where marketing automation comes in. Modern marketing tools combine automation with intelligent product recommendations. Thus, they're instrumental in allowing businesses to personalize their large-scale campaigns according to the customers' needs and preferences.
3. XaaS Is the Way Forward
Businesses already know about the importance of the Software as a Service (SaaS) model of operation. It helps increase revenue generation and improves customer experience. More importantly, it allows you to achieve your business goals without worrying about the tech requirements or hiring additional personnel, besides of being a much simpler and cheaper way to expand your business and streamline operations.
On the other hand, recent digital transformation means that businesses aren't limited to SaaS only. Now, you can get pretty much everything as a service.
Due to the growing skills gap in the market and increasing cost of business operation, companies are relying on third-party services rather than taking on the extra cost of hiring, training, or employing resources.
Hence, the rise of XaaS (Everything as a Service).
If the pandemic and its resulting digital transformation taught us anything, it's that everything can be offered as a service. Nowadays, businesses look for third-party XaaS (Everything as a Service) companies that do the work for them.
In doing so, businesses don't have to reskill or upskill their employees, nor do they have to hire inadequate talent from a shrinking talent pool. Even when they have to upskill or hire talent, businesses use TaaS (Talent as a service) companies to leverage the hire-train-deploy hiring model.
The XaaS business approach is not only cost-efficient but also offers higher productivity and greater agility. Businesses can continue to expand and grow without taking on any more burden of managing or building on-site solutions.
4. B2B To B2C Marketing Shift Is Happening
Nowadays, B2B customers demand the same level of shopping ease and customer experience as B2C customers. Therefore, it's likely that more B2B companies will use marketing tools based on automation to provide their customers with a personalized experience that is guaranteed to result in a sale.
The utility of CRM tools will also be paramount in this regard as it will allow companies to maintain strategic relationships with their B2B customers. To accomplish a smooth shift from B2B to B2C marketing strategy, companies will have to change their tone of voice.
More importantly, they'll have to focus on the long-term user journey since B2C customers are likely to need more touchpoints before they actually make a purchase.
You may also want to read: Why are omnichannel operations now mandatory for every business owner?
Brands may also have to use stories and case studies to engage their customers and leverage interactive content to create a sense of personalization.
In addition, according to a Focus Research study, 75% of companies using marketing automation see ROI within 12 months, and 44% within 6 months.
These tools help businesses predict Customer Lifetime Value for Lifecycle Marketing, which is why Forbes establishes that companies that provide the most engaging experience throughout their customers' lifetimes will have higher retention and conversions.
5. Machine Learning Is the Future
Machine learning is the crux of business automation in many industries. Many companies are already using a combination of machine learning and artificial intelligence to provide matchless services to their customers.
Netflix is a good example of this. Traditional TV networks use demographic ratings, like location, age, and race, for market segmentation. But Netflix takes it up a notch. The company tracks the viewing habits of its subscribers.
In doing so, Netflix has created about 2000 "taste communities" or clusters. It puts viewers into relevant clusters based on their viewing history and gives them recommendations accordingly. The Senior Data Scientist at Netflix reported that 75% of the subscribers select content based on Netflix's recommendations. That's a huge sign that machine learning definitely works.
More and more marketers are also using machine learning and AI for content creation. Here's how it works.
A user clicks on your ad or website. The machine learning software collects the behavioral data of the visitor.
Then, marketers can use this data to customize future marketing campaigns based on how the users' trajectory through the life cycle. The benefits of machine learning aren't only limited to streaming services and multinational corporations. It works just as well at leveling up your eCommerce efforts.
Knowing all this, which actions should you take?
Choosing the right partnership to implement a digital transformation that helps you automate processes and increase your revenue as well as your ROI, is the first step you need to make. Explore all our Cloud Transformation and Omnichannel services that will help you ensure your company’s growth at: https://seeed.us/cloud-transformation-migration
Book your free consultation and let’s grow together.