Marketing Automation: 3 Ways to Measure ROI
With automation, marketers can set up nurture programs that gradually collect behavioral data, building a relationship and responding to contacts’ actions. This insight into prospect behavior gives sales teams the ability to have more effective conversations with prospects, increasing sales and marketing alignment. Sales personnel also have the ability to drop contacts into a nurture program if they're not quite ready to make a purchasing decision. Our own research found that there can be up to a 47 percent higher order value on closed sales that were nurtured versus sales that were not.
Marketing and sales alignment: While there's much more to marketing automation than just alignment between marketing and sales, it's still a critical aspect of measuring its ROI. Alignment between these two departments is constantly evolving, so setting periodic goals and benchmarks for your company's business needs is the most practical way to measure this area. It's no secret that sales is more effective when they receive qualified leads — and a happy and successful sales team makes for a profitable business.
Regardless of where you are in the implementation cycle of marketing automation, it's important to remember that best-in-class results will be gradual. According to a Focus Research study, 80 percent of companies using marketing automation will see ROI within the first year of implementation, with 44 percent seeing results within the first six months. Being patient and realistic about your business needs will lead to the best results for your company.