Introduction to Marketing Automation and Lifecycle Marketing
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Learn why multi-step campaigns outperform single email sends and understand the need for a marketing automation tool. Taking marketing automation one step further, learn why the traditional marketing funnel is out of date and how lifecycle marketing can take any strategy to the next level.
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Introduction to Marketing Automation and Lifecycle Marketing
- 1. Troy Burk | Founder and CEO
- 2. Multistep Campaigns Outperform Drip campaign open rates… are about 80% higher than single sends Average drip click through rates… are 3x higher than single sends.
- 3. Marketing Automation Adoption 85% of B2B marketers using MA platforms in 2014 feel they’re not using them to their full potential. Only 8% of organizations in a recent survey were using marketing automation to nurture their existing customers.
- 4. Outdated Approach Traditional Marketing Funnel Today’s Marketing Funnel Many MA platforms still base their design and application on a purchase or purchasing funnel developed by E. St. Elmo Lewis in 1898. Buyers Consumer and business buying processes have changed dras4cally. The Internet, online reviews and social media have impacted on how we’ve made purchasing decisions in the ’80s, ’90s and today. Buyers Contributors
- 5. Email Effectiveness In a study produced by Econsultancy, respondents were more than twice as likely to say their organization gears their email efforts towards retention (52%) than acquisition (21%). A recent survey of US digital marketers by Gigaom Research found them rating email the most effective tactic for customer retention.
- 7. When asked about their top marketing priorities in a survey conducted by the DemandGen Report, half of all respondents attributed the highest importance to tracking customer lifecycles and earning customer loyalty. Stage
- 8. U4lize demographic and psychographic data to create a defini4on of your “ideal customer. x Score contacts on their profile aBributes, higher scores are closest to your ideal profile. D evelop & execute your marke4ng strategy with this profile in mind. Profile
- 9. Engagement Score contacts on the many ways they can engage with your brand so higher scores are buy, remain a customer and buy again. Companies that engage with their customers via social media have more loyal customers. Customers who engage with a brands online report spending 20% to 40% more on that brand, or on that company's products.
- 10. Loyalty eCommerce spending for new customers is on average $24.50, compared to $52.50 for repeat customers – McKinsey. The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5-20% – Marketing Metrics.
- 11. Satisfaction 70% of buying experiences are based on how the customer feels they are being treated – McKinsey. 96% of unhappy customers don’t complain, however 91% of those will simply leave and never come back – 1Financial Training services.