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How sales and marketing Automation can boost your business?

One of the greatest challenges in marketing today is the introduction of marketing automation or the digitization of sales. Automation of sales & marketing is the implementation of various technology, e.g. in the form of software to take on administrative and monotonous activities. The automation of these repetitive tasks helps boost operational efficiency and ease decision-making. Due to Covid-19, the sales processes within companies showed a positive attitude towards the automation of marketing and sales processes. Research and Markets anticipated the global marketing automation market size to reach USD 8.42 billion by 2027 (March 2020 survey). According to Gartner’s latest annual CMO Spend Survey, 68% of CMOs expect their martech budget to increase by 2021.

 

By means of automation, companies put useful, relevant content online in order to generate qualified leads for marketing and sales activities. This is how the digital sales process gets going. The task of marketing is to gain customer contacts with convincing content on websites, social media or other dedicated portals.  On average, 51% of companies are currently using Marketing automation. With more than half of B2B companies (58%) plan to adopt the technology.

 

Sales automation is not just about email marketing, it doesn’t send useless spam, nor is it a solution for marketers who want to work less. Instead, as part of sales automation, workflows are developed that make work easier and turn prospects into customers. Marketing automation tools are used in sales automation. These tools include lead generation, lead segmentation, email marketing, lead nurturing, and lead scoring. With the right automation and the data of your customers and your communication goals, you create workflows that send the right information at the right moment. Through the intelligent interaction of contact lists, website tracking, smart content, and email workflows, you can achieve a highly personalized approach. Automated sales are all about creating fast and efficient sales processes that lead to more leads or more sales.

 

How sales and marketing Automation can boost your business

Reports have shown that employees spend more than half of their time doing administrative tasks in the CRM system rather than spending time to really sell products. The primary goal of automation is to give your employees more time and hand over administrative tasks to suitable software! To make the road in automation easier, here below typical tasks in Sales and Marketing can be easily automated.

 

  • Morning reports and emails

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Most organizations start the day with a morning summary that includes data such as current team goal achievement, deal status, and employee productivity. Instead of always sending individual emails to all employees, you can automate these reports and have them sent to your employees every morning.

 

  • Lead distribution

Leads have to be processed individually by the sales manager without automation. However, it’s possible that the interest of the potential customer lapses and the lead is no longer usable. You can prevent this with an automated lead assignment. You determine in advance which lead category must be assigned to which member of the sales team. As a result, leads are processed more quickly and, in a time-saving manner, without a single manager having to take care of everything.

 

  • Lead prioritization aka lead scoring

The leads generation is also a topic that costs a lot of time, which is often not valued by the corresponding success. Once a list of target customers has been created, these should be registered according to their priority. An automated lead evaluation system helps with the selection of the most important (potential) customers. This calculates how promising a lead is based on specified criteria. Not only it saves you a lot of time, but also helps to invest in the most promising leads. No more leads are lost as better reporting and analysis options are availed through central tracking of all processes and activities in the sales process.

 

  • Creation of data sets

After the sale, the CRM system needs to be brought up to date. This can take several hours, but it is actually wasted time. Because you can also easily automate this task! It is true that entering data cannot be relieved of you, but functions for a better overview can pop up automatically when you need them, such as, if a lead visits a page with prices, a new task automatically appears in the CRM, when someone requests a demo version of your product, an opportunity is created, another task is created when a demo version expires. With such functions, you make sure that you never miss a sale opportunity!

 

  • Automated library with all sales materials

In most cases, the sales & marketing content is stored in multiple different locations. A nightmare for every employee who now needs different information about a customer or project. With a CRM system in sales, you always automatically have all the data in one place. With the help of search terms, your employees can then easily find what they are looking for.

 

In addition to those listed above, there is a lot more is possible with automation in sales, such as automated billing, automated planning of meetings and appointments, automated reporting for the summary of the activities by the employees, independent lead tracking, and monitoring to understand customer movements, etc.

 

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Automation myths debunked: Why is Automation important for your business?

Hardly any company that strategically pursues their company growth can get around automation today. Automation enables tasks that were previously slow, manual, old-fashioned, and time-consuming to be supported with suitable software and thus run independently. As a human error can be unpredictable and happen when you least expect it, with the right technology companies’ processes are more accurate and faster. Use cases of automation are, for example, employee onboarding, analyzing reports on transactions, monitoring bookkeeping activities regularly, customer service, databases updates, sending personalized emails, perform inventory, etc.

Business processes automation can not only be used to gain efficiency. Availability of modern technology, as well as enhanced software applications, have made it easier to increase employee efficiency and you can get better results when you embrace automation. A win-win situation for companies and employees.

 

But despite these benefits, there are still myths surrounding automation that keep companies from getting started. Even though automated processes create positive changes, still, many companies fear high costs, difficult implementation, and staff changes – but these are just prejudices that we would like to address here and thus show that every company can benefit from automation.

 

Automation is a complicated and complex process

Hmmm, yeah. Not if it’s done right. As is often the case, good preparation is half the work. So, before starting with automation, make sure you understand what your company’s expectations are. Your decision to automate must depend on your needs, capacity to build it, and also your customers’ requirements. Specific goals can be developed using your personal business case. This step is essential so that automation succeeds and creates benefits for the company.

These requirements should also be discussed in-depth with different automation tool providers instead of falling for fancy advertising promises or the cheapest subscription. It is advised to meet with different process automation providers for not only choosing the right tool, but also to evaluate your own requirements.

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The future is automated

‍Automated processes bring a lot of advantages in operational processes, such as improved operational efficiency, long-term cost reduction, better customer service, visibility & transparency, and an increase in productivity. However, if a company only carries a small range of products, stores a manageable amount of goods, and generally only offers a small storage capacity, there is no need to implement a fully automated system. In such cases, manual or partially automated solutions that grow with you are the better options. Companies then have to weigh up whether small order quantities can be processed more efficiently in this way.

 

Automation is killing jobs

Nowadays it is constantly stated that automation is accompanied by a huge burden of unemployment. With the increased use of machines and automated processes, the fear of reducing or replacing staff increases. It’s true that automation is impacting various jobs in different sectors around the world. Due to automation, human intervention is certainly reduced in a business process. For instance, from production to planning, everything can be controlled by artificial intelligence or machine intelligence. It is easier to bring accuracy into the production process and increase overall productivity with machine intelligence. Every company wants to reduce the number of its employees as much as possible through technological improvements. But that does not mean that we are heading towards an unemployed society in years to come. As the machines are performing tasks previously done by humans, companies are busy transforming and redesigning jobs in a way that can make technological elements compatible with human capital development. The future workplace is where humans and machines will enhance each other’s strengths by working side by side.

 

Existing systems prevent the integration of new solutions

Automation doesn’t happen overnight – Companies are constantly faced with the challenge of proper integration of a set of services related to automation and ensuring that all expectations are aligned with business goals. Integrating your automation initiatives successfully is impossible without a flexible, scalable infrastructure. Therefore, on-premise infrastructure must be avoided/limited because of its limitation in terms of automation roll-out, scalability, and ease of use. For this purpose, cloud solutions are ideal as they let you get straight to work without wasting your valuable time on on-premise setup and maintenance.

 

So, now that you know that automation is here to stay, and can help you better run your business, it’s a safe bet that such automation can be trusted and utilized. By taking into account the myths discussed in this article, and learning the truth about each, you’ll be able to run your business more effectively.

How can Digital Marketing benefit from Artificial Intelligence?

AI in Digital Marketing xorlogics

 

AI is now more accessible than ever with it’s potential to change business forever. With its positive impact, and being a lot more affordable than before, both big and small companies are able to benefit from the insights and automation options it provides. With the integration of AI brands can not only leverage customer’s data but also anticipate their customer’s next move, understand sales cycles better, correlate their strategies for converting prospects into paying customers and improve the overall customer’s journey with machine learning efforts.

 

As a subset of AI, machine learning involves the analysis of historical data from various business interactions with customers / prospects (for example: when and what was the last time the customer ordered?). As ML has the ability to analyse extremely large sets of data, its being used in the digital marketing departments around the globe to identify sales patterns and increase success factors. Algorithms for ML generate insights via predictive analytics, based on these insights, marketers can either take actions individually or automate AI to do the job. For example, they can automate emails that are aimed at re-targeting your audience, giving you a better chance of a higher ROI.

 

ML is also playing a major role in SEO. Even tough SEO algorithms change across major search platforms, with AL and ML tools, the insights from searchable content may become more relevant than specific keywords in the search process. In order to maintain a high-ranking place on search engine result pages, consider the quality of your content rather than simply the keywords included. By doing so, you’ll be ahead of the game when it comes to future-forward content creation and SEO.

Marketers can also benefit from ML tools to analyse what type of content, keywords, and phrases are most relevant to your desired audience. Once they have the key insight, they can optimize their dialogue and develop engagement across multiple online platforms, to drive brand awareness and create meaningful relationships with leads, prospects, and customers alike

 

The key difference between modern AI-based and traditional outbound marketing strategies is the integration of contextual data, i.e. information that results from the interaction with the customer is not stored in labour-intensive and time-consuming data warehouses but is available in real time and can be used for decision-making. With these customer profiles and interests recorded in parallel to the interaction, the previously defined decision strategies are fed in order to achieve high planning security for high, profitable conversion rates.

 

Artificial intelligence opens up possibilities in marketing domain far beyond currently available functions. PwC estimates that business could save $2 trillion globally by applying intelligent automation to many activities that were previously processed by humans and making employees more productive. In addition to that, AI, robotics and other forms of smart automation will bring great economic benefits and contribute up to $15 trillion to global GDP by 2030.

 

With AI integrated marketing, business can forecast customer behaviour and run data-based campaigns to have remarkable results. It helps them to save a lot of money on marketing and sales efforts by bringing them valuable leads. Not only business can achieve valuable leads and turn them into customers but they can also maintain a good relation and provide a better service to these customers by introducing a 24/7 customer service with the help of AI equipped chatbots. These chatbots are able to handle customer enquiries and provide customer support on time and appropriately, based on the needs of customers. Business are creating value through transforming customer journeys by providing immediate response to consumer’s queries or issues. According to McKinney’s study, 75% of customer demand NOW service within 5 minutes of online contact. If business can beat this time, they can convert a ‘visitor’ into a ‘paying’ customer.

Here below are some interesting statistics of AI in marketing:

 

  • According to research from Callcredit, 5 hours and 36 minutes is the amount of time that the average marketing professional spends collating data and getting it ready for presentation. An AI integrated marketing dashboard can do the collating in minutes and give you more time for reporting process. Statwolf
  • 97% of leaders believe that the future of marketing lies in the ways that digital marketers work alongside machine-learning based tools. QuanticMind
  • By 2020, 30% of companies worldwide will be using AI in at least one of their sales processes. Gartner
  • By 2020, 85% of customer interactions will be handled without a human. Gartner
  • For 61% of marketers AI is the most important aspect of their data strategy. MeMSQL
  • 80% of business and tech leaders say AI already boosts productivity. Narrative Science
  • When AI is present, 49% of consumers are willing to shop more frequently while 34% will spend more money. PointSource
  • Large businesses with more than 100,000 employees are most likely to have an AI strategy – but only 50% of them currently have one. MIT Sloan Management Review
  • Netflix is saving $1 billion per year by using machine learning to make personalised recommendations- Artelliq
  • 44% of consumers don’t even realise they’re already using AI-powered technology platforms. Pega
  • 45% of end users prefer chatbots as the primary mode of communication for customer service inquiries. Grand View Research

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The ways that ML is being used in digital marketing practices helps organizations to expand their understanding of their target consumers and how they can optimize their interactions with them.  So, when developing appropriate AI applications for marketing purpose, the collaboration between software developers and domain expert’s must not be neglected. The ultimate decision-making competence when it comes to the all-important question of which next best actions are to be implemented in order to achieve the greatest possible marketing success usually belongs to the domain experts. You should have the experience and expertise to incorporate the right NBAs into the self-learning models for decision-making strategies.

 

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ERP System: Key Features for a Successful Integration

ERP System Key Features for a Successful Integration

An ERP system is a vast information system that manages information about a company’s products, production facilities, materials management and accounting, customers, suppliers and employees’s data sales and marketing, financial balances, etc. It is used by every department in an organization and many individual processes in companies are closely interwoven with the core of the business model and are therefore critical to the success of the market presence. An ERP or enterprise system is designed to standardize, streamline, support and integrate organizational processes across functional boundaries.

It wouldn’t be wrong to think of an ERP as the brain of company’s technology system, as ERP provides a fully integrated, intuitive platform through which you can analyze, monitor and conduct the majority of data-driven tasks. Here below is a list of few key features which are decisive for the digitization success of a growth-oriented company.

 

  • Integration

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Integration of ERP system is a major part for its success. The study behind integration of ERP system, to make sure that the company will benefit from all of its functionalities and endless capabilities to work harmoniously, makes all difference from other types of software’s. Implementing a new ERP system that digitally maps the central operational functions is often considered a risk by many decision-makers. As it integrates all facets of a business, by synchronizing all core areas, businesses are able to gain real time visibility across your entire business with 24/7 access, increase productivity together with operational efficiency, reduce costs and enhance competitiveness. A well-integrated ERP allows employees to work from a single source of information reduces the discrepancies between your teams along with the associated errors anIntegration also allows your business to work with multiple components at once.

 

  • Automation

Automating company processes completely or at least partially is important for companies that want to pursue dynamic growth and act in more efficient and sustainable way.

Firstly, the advantages of digitally available data can be optimally used by automated processes, for example for taking orders in the online shop, because if the company is dealing with a large volume of inventory orders, sales, customer interactions, etc. it’s necessary that you can see and respond to data in real-time. In many cases, in absence of ERP system or with a legacy ERP system don’t update automatically and prevent or delay you from taking immediate action.

Secondly, with the help of appropriate cross-functional processes, companies can act faster and more reliably on the market, for example they are able to run certain processes such as a web shop outside of business hours. An advanced ERP system is able to make decision such as delivery capability can be guaranteed with the existing stock within the regular delivery time etc.

 

  • User orientation and availability

The main point of an agile ERP software solution is to be available wherever the user needs the system – in the home office, in the field, in mobile storage or in a meeting. When deciding on an ERP, it’s important to consider whether employees will be given access to the system via an app on mobile devices. In addition to that, a good ERP system will allow you to integrate external sources and build out a single source of truth for your data. This enables fast, error-free, digital information exchange and saves time and money and reduces the risk of critical complaints along the entire supply chain.

Those who ensure a properly operating ERP systems and an unified digital process chain

enable enterprises to reduce the time required to complete virtually every business process by delivering efficient and fast processes.

 

  • Customization

It’s proven that the business landscape changes too rapidly to use historic information to forecast the future. In addition to that the current pace of technological development is having profound changes on the way companies’ work. As the ERP system forms the digital backbone of a company and is usually purchased for a useful life of ten to 15 years. Company’s leaders must keep in mind that no matter how good their ERP system is, it cannot address 100% of their organization’s needs. Therefore, in view of the expected changes in the market and in technological development, we must ensure that the software can always be adapted to new requirements. Because once your organization’s areas of competitive advantages to the existing features of ERP, your ERP is best customized for all your company’s needs.

 

  • ERP Flexibility

Organizations that integrate an ERP system in their process gets the real-time visibility into data they need to make decisions quickly. Ambitious companies that are entering the ERP world can meet their needs for a standardized solution that maps the central processes within the framework of high-quality and user-friendly workflows. Because companies have data on hand, they can change and shift based on operational and market demands and as soon as they gain momentum and individual adjustments are required, the system must be able to upgraded to the full version. Furthermore, a flexible ERP enabled by Cloud technology is able to save you time and money.

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